I went back and forth on whether it deserves a 2 star rating but looking at the cover as I write this, it has to be 1 star.
It does not present an "easy, common-sense plan" at all - the "11-Step Money Plan" is quickly lost in references to "here is my nine-point definition of rich", "here are 8 money lessons we can learn from the wealthy" and "these 10 important traits" (those just from the first "step").
The recommendations in the book are for things that Kochie openly states he can't follow himself - "hey, try to plug your financial holes by following these nested steps of checklists of steps of traits that I can't follow myself but good thing I've got a great wife who is able to do it for me". It sounds like Libby is fantastic and full credit for Kochie for raising what sounds like a great family. However at times, it felt like the book could have been better summarised as "find yourself a good partner who can manage your family finances".
If you are a regularly watcher of Sunrise, or follow a few soft-finance blogs - there is literally zero need to read this book. Since the 11-Step Plan reads like Kochie has taken the PowerPoint from every finance guest that has come on, and pasted together their checklists of do's and don'ts into loosely related topics without any joined-up, connected and consistent plan being apparent.
Suggestions like opening your windows instead of using air conditioning to save costs were jarring (and inaccurate, since at freeway speeds the drag from open windows means aircon is more efficient). With the ultimate sin for me being when he used an example of a 10% payrise on $80k resulting in an extra $40k in your pocket over five years - ignoring the 34.5% tax that you would be paying on it. His example overstated what you would be getting by almost 50%.
Interspersed amongst the checklists were attempts to relate to the average battler but stories of his CEO dad, partnering with Fairfax, and working out of the London office on takeovers plus constant Sunrise / media career references didn't really help resonate when he said "we too feel mortgage stress".
Suffice to say that I'm fairly disappointed with this effort - I am actually a fan of Kochie on Sunrise and generally find his views on finance to be well articulated and relatable. This book is not coherent in any way and $4.99 is the price I've paid to learn the lesson that hopefully this review will teach you for free.
Kochie's 11-Step Money Plan for a Better Life Audible Audiobook – Unabridged
©2019 David Koch (P)2019 Macmillan Australia Audio
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Only from Audible
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|Listening Length||8 hours and 50 minutes|
|Whispersync for Voice||Ready|
|Audible.com Release Date||March 26, 2019|
|Publisher||Macmillan Australia Audio|
|Best Sellers Rank||
#367,376 in Audible Books & Originals (See Top 100 in Audible Books & Originals)
#936 in Money Management & Budgeting
#6,834 in Budgeting & Money Management (Books)
1 out of 5
1 global rating