Five Financial Lessons From Middlemarch
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 16 February 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
Key takeaways from one of the greatest personal finance novels of all time.
Topics covered include:
- Why it is easier to keep doing the same old thing
- Why partners should discuss their finances
- Why debt can be suffocating
- Why leverage can be dangerous
- One of the most satisfying ways to give away wealth
Thanks to OurCrowd and Policygenius for sponsoring the episode.
For more information on this episode click here.
Show Notes
Middlemarch Book Summary—Stonory
Rebecca Mead/"'Middlemarch' and Me"—The New Yorker (Video)
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Transcript
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| 0:00.0 | Welcome to Money for the Rest of Us. This is a personal financial on money. How it |
| 0:05.6 | works, how to invest it, and how to live without worrying about it. I'm your host David |
| 0:11.0 | Stein. Today is episode 375. It's titled Five Financial Lessons from Middle |
| 0:17.1 | March. When we look back on the COVID-19 pandemic, there are certain sounds or |
| 0:26.7 | movies or books that will always remind us of what it was like. Particularly the |
| 0:34.1 | spring of 2020 when we were locked down in our homes, the level of uncertainty was |
| 0:40.1 | incredible. Most of the global economy was shut down. Whenever I hear the |
| 0:46.7 | desperate and haunting calls of the white wing dove, I remember the pandemic |
| 0:52.1 | being locked down in Phoenix, evening walks with the Pearl, her daughter, her |
| 0:57.2 | daughter-in-law, and son, and her aging Sheetsu. I remember the novels I read, and |
| 1:02.5 | they remind me of the pandemic, Paulette Giles' book, News of the World, and the |
| 1:08.2 | 850-page Tom Middle March by George Elliott. George Elliott was a pen name for |
| 1:15.5 | Mary Ann Evans, who lived from 1819 to 1880. Middle March is probably the most |
| 1:23.1 | financial novel of the 19th century that I can recall. It deals with day-to-day |
| 1:30.1 | life, debts, trying to figure out what to do for a profession, giving money away, |
| 1:36.0 | having enough money to live on. In 1856, George Elliott, at age 35, produced a |
| 1:43.2 | scathing essay about what was wrong with popular fiction of that day. She |
| 1:49.0 | titled it Silly Novels by Lady Novelist. She began writing Middle March in 1857. |
| 1:55.8 | It was published in serial form in 1871 and 1872. Novelist Virginia Wolf |
| 2:03.2 | described it as one of the few English novels written for grown-up people, |
| 2:07.6 | because it deals with day-to-day grown-up problems. Other prominent writers |
| 2:12.8 | publishing in the early 1870s include Thomas Hardy, Luisa May Alcott, |
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