How I Invest My Money by Joshua Brown & Brian Portnoy Summary

How I Invest My Money offers an unprecedented look into the personal financial strategies of 25 investment experts, including portfolio managers and financial advisors. They reveal how they allocate assets, balance risk, and align investments with life goals, emphasizing that wealth management is deeply tied to individual values and circumstances. The book combines candid storytelling with practical insights, illustrated by Carl Richards’ visuals.

This book is ideal for investors seeking diverse perspectives beyond traditional finance advice. It’s valuable for those interested in behavioral finance, mid-career professionals refining their strategies, and anyone curious about how experts like Morgan Housel and Christine Benz manage their own portfolios. Readers gain insights into balancing stocks, cash, real assets, and charitable giving.

Joshua Brown divides his investable assets into four buckets: emergency funds (100% cash), opportunistic investments (50% stocks/50% cash), retirement accounts (ETFs), and speculative ventures. He prioritizes liquidity for business flexibility and uses ETFs for long-term stability, arguing that personal circumstances—not market trends—should drive asset allocation.

Unlike formulaic guides, this anthology rejects a “one-size-fits-all” approach. Contributors share vulnerable stories about financial mistakes, family influences, and ethical dilemmas—such as Tyrone Ross on overcoming generational wealth gaps. The focus on why people invest, rather than just how, makes it unique.

Multiple experts stress holding 1–2 years of living expenses in cash or money markets, especially for entrepreneurs or those with irregular income. Joshua Brown maintains this buffer to sustain his business during pre-profit phases, illustrating how liquidity enables risk-taking in other portfolio segments.

Authors discuss blending real assets (like REITs), Treasury Inflation-Protected Securities (TIPS), and dividend stocks to hedge against inflation. Brown highlights long-term total return portfolios that balance appreciation and income generation, warning against overreacting to short-term inflationary spikes.

Essays connect money choices to life goals, such as Blair duQuesnay on funding education or Lazetta Rainey Braxton on supporting minority communities. The book argues that ethical investing—whether through ESG funds or charitable giving—enhances both financial and personal fulfillment.

While Morgan Housel’s The Psychology of Money explores universal money behaviors, this book provides a mosaic of individualized strategies. It’s less about behavioral theory and more about real-world applications, with concrete examples like Ashby Daniels’ tax-efficient withdrawal methods.

Some readers note the lack of step-by-step instructions, as the essay format prioritizes narrative over prescriptive advice. Critics suggest pairing it with tactical guides for beginners. However, proponents argue its strength lies in showcasing diverse, adaptable philosophies.

The principles of liquidity management, inflation-aware allocation, and values-driven investing remain critical amid market volatility. Updated commentaries from contributors (like Brian Portnoy on recession preparedness) are featured in later editions, keeping the content timely.

Brown’s blog (cited by contributors) contextualizes the book’s themes with ongoing market analysis, such as post-2023 banking crisis portfolio adjustments. Readers gain access to evolving strategies that complement the book’s foundational insights.

The book is available on Amazon, Bookshop.org, and via Ritholtz Wealth Management’s partnership with independent booksellers. Audiobook versions includebonus interviews with contributors like Ted Seides on alternative investments.