The Great Money Reset by Jill Schlesinger Summary

The Great Money Reset provides a roadmap for reevaluating career, finances, and life goals, particularly in response to post-pandemic shifts. Jill Schlesinger outlines ten actionable steps to align work, wealth, and personal fulfillment, emphasizing debt management, housing decisions, and career transitions. The book blends financial planning with real-life stories to help readers navigate major life changes without jeopardizing financial stability.

This book is ideal for professionals contemplating career shifts, retirees reassessing financial plans, or anyone seeking to balance financial security with personal fulfillment. It’s especially relevant for those navigating post-pandemic uncertainties, such as remote work adjustments or early retirement considerations.

Yes, for its practical frameworks like the “three-money questions” and outcome probability analysis. Schlesinger’s mix of actionable advice and relatable anecdotes—such as stories of successful career pivots and financial missteps—makes complex topics accessible. Critics note it leans toward higher earners, but its core principles apply broadly.

Key ideas include:

• The Three-Money Questions: Assessing resources, debts, and housing needs.
• Outcome Probabilities: Evaluating best-case, worst-case, and most-likely scenarios for financial decisions.
• Work-Wealth-Life Alignment: Structuring career changes around financial and personal goals.

• “Change your work, change your wealth, change your life” (book subtitle), encapsulating its holistic approach.
• “Blowing up your financial life isn’t required to pursue your dreams”, highlighting its balanced strategy for risk-taking.

Schlesinger tailors advice by life stage: younger readers focus on skill-building, mid-career professionals weigh stability vs. passion, and older adults plan phased retirement. The book provides tools to quantify risks, such as calculating emergency funds or retirement gaps.

The pandemic serves as a catalyst, prompting readers to reassess priorities. Schlesinger argues this “reset” era offers unique opportunities to align finances with values, whether through geographic moves, career shifts, or lifestyle changes.

Some reviewers note the examples skew toward higher-income individuals, with less guidance for lower-earners. Others find certain advice overly generic, like “analyze spending,” though the book’s frameworks are widely applicable.

Unlike The Dumb Things Smart People Do With Their Money (2019), which focuses on common financial mistakes, The Great Money Reset emphasizes proactive life transitions. Both books simplify complex topics, but the latter addresses post-pandemic realities more directly.

1. Audit finances holistically (assets, debts, housing).
2. Quantify risks using scenario analysis.
3. Plan career shifts in phases to minimize financial disruption.

The “Outcome Probabilities” framework advises assigning likelihoods to best/worst-case scenarios when making decisions. For example, calculating the probability of a side hustle succeeding before quitting a stable job.

Despite being published in 2023, its principles remain applicable amid ongoing workplace evolution (e.g., hybrid work trends, AI disruption). The book’s focus on adaptability aligns with today’s economic volatility.

Yes, case studies range from a 50-year-old switching industries after layoffs to a couple relocating for affordability. These stories illustrate both successful resets and cautionary tales about inadequate planning.