A “common farm boy from Kentucky” is how Terry Brown describes himself.
And while often referencing the Bluegrass, this Kentuckian’s new book is intended to provide insight for any business, organization or individual. “Fields of Green: The Simpler Way to Wealth” provides a balanced framework for both personal and organizational success.
The book’s purpose is to help individuals and organizations rethink financial stereotypes — and to aid those feeling overwhelmed by financial complexities and stress. Simplicity is key for financial long-term success, Brown says. And anyone can benefit from Brown’s commonsense guide.
Brown is as passionate about this goal as a finance guy can be, and that enthusiasm makes for an energizing read. Brown, however, has a larger goal.
“My true passion is to somehow be able to communicate these simple principles into our classrooms,” he says. “I genuinely have a deep concern for the future financial health of our country.”
For those who are already adults, the first step in this process is to take complicated information and extract the fear that many feel when confronted with financial matters. Brown shows how to carefully understand financial stereotypes in order to help simplify and rethink misleading ideas.
The first six chapters are assessments the author says are crucial to understanding why you do things, from a financial perspective. These are the “why” questions. The remaining chapters build on that by examining more current topics that are critical in today’s financial environment.
The examination and application of Maslow’s Hierarchy to one’s list of needs can provide insight into financial well-being. Brown comes back to the reader by including exercises that estimate costs. Chapter two includes a basic exercise in which the reader lists five needed items in order of importance, paralleled by a listing of the issue that created the need for each.
Net worth is also an important area for Brown. He suggests looking closely at this area and updating it regularly.
Every chapter ends with exercises and summary points, including investment insurance, college funding and tax avoidance. Each of these items should be assessed often. The focused goal is “living the dream life.”
Read this book and apply what you learn. Brown does an excellent job of showing why it all matters, how to apply it and how to set priorities. His approach appeals to anyone seeking satisfying work and life.
There’s a lot to learn from a common farm boy from Kentucky.