Personal finance books promise to transform your relationship with money. They claim to hold the secrets to financial freedom, especially those written for your specific market.
But as Belgian investors, we've been disappointed by generic advice that doesn't consider our unique tax system, investment options, and regulations. And when local books do appear, they often push specific products or platforms rather than truly independent advice.
That's why we were intrigued by "Personal finance met Thomas Guenter". As a book written specifically for Belgians, does it deliver on its promise to help you make better financial decisions? Let's find out.
For who?
"Personal finance met Thomas Guenter" is a valuable book for both beginners and advanced Belgians readers who want to optimise their personal finances within the Belgian context. It offers practical insights for readers looking for accessible and applicable advice to improve their financial situation.
Strengths
Accessibility
Thomas succeeds in explaining complex financial concepts in an understandable way. His writing style is clear and direct, making it easy for readers without extensive financial background to follow the content.
Practical applicability
The book is full of immediately applicable tips. For example, Thomas emphasises the importance of an emergency buffer as the first step in financial planning. He offers clear guidelines on how to build such a buffer and what amount is appropriate, which is crucial for financial stability. But he also offers the advice to place an emergency buffer in a high-yield savings account, which encourages readers to take action to manage their financial reserves more efficiently.
Belgian context
The book is specifically aimed at the Belgian reader, with relevant information on local taxes, regulations and financial products. This makes the advice particularly relevant and applicable to the Belgian audience.
Let the experts speak
Thomas reinforces his own insights with contributions from various financial experts. These perspectives offer a broader and more nuanced picture of various financial topics, which increases the credibility and depth of the book.
Extensive chapter on passive investing and ETFs
At Curvo, we believe that passive investing through ETFs is the best way for most people to grow their long-term wealth. So we were happy to see that Thomas Guenter shares the same philosophy and that the book contains an in-depth chapter on passive investing, discussing the advantages of ETFs and index funds. Thomas explains how these instruments work and how they can contribute to a diversified and cost-efficient investment strategy.
Points for improvement
We do think there are a few shortcomings to the book.
Emphasis on private equity
Although the book devotes an entire chapter to private equity, this investment instrument is difficult for most private investors to access due to high entry barriers and complexity. It is therefore questionable whether such an extensive chapter is justified for the intended readership.
Independence (or lack thereof)
Thomas presents himself as an independent financial advisor. But through discount codes in the book, he earns affiliate money from platforms like Saxo Bank and GoldRepublic. So it's hard to take his independence seriously when he discusses these platforms and their alternatives. As Charlie Munger would say, "Show me the incentives, and I'll show you the outcome."
His template may not fit everyone
Thomas uses a standard strategy of building an emergency buffer, buying your first home, then invest in ETFs and finally in other instruments like private equity. Although this may be a solid approach for many people, the book does not sufficiently recognise that individual financial situations vary. More attention to personal circumstances and customisation in financial planning would make the book more accessible to a wider audience.
Our conclusion
Whether you're just starting your financial journey or looking to optimise your existing strategy, this book offers valuable insights for the Belgian context. The clear explanations of complex topics and practical tips make it a worthwhile read, despite its limitations around independence and the perhaps unnecessary focus on private equity. That's why it deserves a place among our best books for Belgians on investing.
Want to put the book's passive investing principles into practice? Check out our comprehensive guides on ETF investing, or explore the Curvo app and start investing in a diversified portfolio of low-cost index funds.