A reader writes, “Hey Ron, August is finally here and I’m going on vacation. I wanna get my financial life in order. What’s one book you’d recommend with that in mind?”

The Psychology of Money by Morgan Housel.

I read Housel’s blog too. Today’s post is titled “Reality Catches Up”. It’s about the precarity of fleeting success. This paragraph will resonate with anyone with much work experience.

“It happens at work, too. A manager who can’t earn employees’ respect by leading often tries to force it through fear. That can feel great: Your employees say “Yes sir, right away sir!” But it’s unearned respect. Employees who fear you will hide the truth from you to avoid repercussions. So the manager flies blind, oblivious to problems large and small that won’t be apparent until it’s too late. Every bit of respect over what you deserve is a liability, a hidden form of debt.”