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The Resilient Investor – Book Review

Invest in your best life.

You will never look at the word investment in the same way after reading The Resilient Investor. Investing is about more than money, it is about your life.

The full title of the book by financial advisors Hal Brill, Michael Kramer, and Christopher Peck is The Resilient Investor: A Plan for Your Life, Not Just Your Money. That should give you a clue this is not your typical investment 101 book and you will not be learning how to get rich by investing in the stock market. What you will gain is a broader perspective about investing and a toolkit to help you create your own resilient investment plan.

The Resilient Investor Book CoverI was interested in reading this book for two reasons. First, I was curious. I wondered if it was possible for three money guys to speak about non-financial matters in an understandable and useful way? Second, I wanted to learn more about investing in people, communities, and companies that are taking the long view and working towards keeping Earth habitable now and in the future.

Book Review

“Does the challenge of making informed decisions about your life seem far more complex today than it did even a short time ago? Does the future—your own and that of the world—feel highly uncertain, perhaps even precarious? We can sense you there, nodding in agreement.”

When I read the first few sentences of The Resilient Investor (above), I thought, “Yes that is exactly how I feel.”

Before reading this book, I would have automatically associated money with the word investment but I think the authors’ expanded version is much more useful because it encompasses your whole life and that is what is important.

“…try this on for size: investing is something that we all do by directing our time, attention, energy, or money in ways that move us toward our future dreams, using a diverse range of strategies.”

Readers as you move through the book you will learn about the Resilient Investing Map (RIM), a handy tool for making notes and organizing your thoughts about what you want to keep doing, stop doing, or start doing when it comes to investing in your life. You can work on your own RIM as you read the book, read the whole book and then use the RIM, or skip the RIM entirely and use your own method. I am taking the middle approach. I have read the book and now I am doing my RIM.

You will learn how to recognize your real net worth and about close to home, global, and evolutionary investment strategies (remember it is not just about money). A discussion of possible future scenarios encompasses a full spectrum of outcomes from doom and gloom to a bright new world. These scenarios combined with various investor profiles will help you identify your own worldview, where you stand, and what is important to you.

To help you evaluate your own situation and create a resilient investing plan the authors provide a step-by-step guide and examples from their own lives.

The book wraps up with a review of sustainable and responsible investing (SRI) an approach that screens investments for environmental, social, and governance factors as well as traditional return on investment financial measures.

The Bottom Line

Not surprisingly, tax season is what led me to read The Resilient Investor and write a review about it this April. I do not know about you, but money is usually on my mind when I am collecting and organizing information for our income tax returns. To me, this seems like the ideal time to expand my thinking about investing and to create my own resilient investing plan. I hope you think so, too.

The authors of The Resilient Investor, Hal Brill, Michael Kramer, and Christopher Peck are managing partners of Natural Investments, a B Corporation specializing in sustainable, responsible investments. Jim Cummings is a writer who works with Natural Investments and is the editor of the book.

Admittedly, Brill, Kramer, and Peck are not a diverse trio. They describe themselves as “three college-educated white guys who all co-own a specialty investment company.” However, they do have decades of resilient living and investing experience and a compelling vision for a resilient future.

The book is short (less than 200 pages) making it easy to read and carry around. The writing style is conversational and straightforward. A companion website offers more information and downloadable blank and example RIMs.

“In the end, despite our continued positing that the idea of investing needs to be expanded, there comes a time to drop the distinctions that divide our daily lives into categories. There is only one activity that we are all engaged with all the time: we are simply trying to live our lives the best we can.”

Reader Note: I first learned about The Resilient Investor while reading a newsletter from Natural Investments. Our financial advisor is a member of the Natural Investments team. When I asked him about the book, he offered to give me a copy. I chose to invest my time in writing this review because I think readers may find the book informative and useful.

Featured Image at Top: Purple Flower in a Metal Spring with Loose Petals on a Wood Surface – Photo Credit Shutterstock/Alta Oosthuizen

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Making Water Conservation a Way of Life – Indoors

Water conservation is a gift that keeps on giving.

Once you make water conservation a part of your daily life, you can almost effortlessly save water and money, month after month, year after year. It all adds up.

During the 2012-2017 drought in California, our small town on the Central Coast worried about running out of water. The water company imposed severe water use restrictions. Residents, businesses, and visitors all contributed to a massive reduction in the town’s water use. We made it through the drought.

This is the third post in a three-part series about making water conservation a way of life.

In the first post, I shared six years of our household’s water data to illustrate how water and cost savings can add up over time. The second post focused on ideas for making your yard both beautiful and drought resistant.

The third post is about indoor water use habits and water saving devices. My intent is to show you what is possible so that you can come up with your own ideas that will suit you and your family.

To me, water conservation is like eating a healthy diet. The best approach is to make changes and do things that you can do for the rest of your life.

Changing Water Use Habits and Installing Water Saving Devices

Picture your morning routine. Chances are you do certain things each day, almost without thinking, like making your bed, starting the coffee maker, or taking a shower. You probably have water use habits you learned over years or decades that you could change or stop.

Without spending any money, you can evaluate your water use habits and implement some water saving ideas. Purchasing and installing water saving devices can substantially increase water conservation, but you can still participate even if you buy nothing.

During the drought, we experimented with various behavioral changes. Some things worked and some did not. Over several years, we adopted water use practices that we could envision ourselves doing forever.

Doing Laundry

Changing laundry habits required significant reprogramming for me. We took a two-pronged approach to conserving water in the laundry room. First, we attempted to generate less laundry and then wash only full loads. That was easier said than done.

Creating less laundry meant being more thoughtful about getting dressed and undressed. For instance, instead of automatically tossing a t-shirt in the laundry basket, I had to learn to consciously decide whether it could be worn again or not. I became accustomed to wearing the same pants for several days or purposefully wearing a pair that I had worn earlier in the week and hung up in my closet.

I began washing towels and sheets every two weeks instead of once a week and I still do.

Back when I learned to do laundry, sorting and washing by color and fabric was important. If you threw a red shirt in with white socks, you might end up with pink socks. Today’s colorfast and blended fabrics can often be washed together (read the labels) making it easier to do full loads. Nowadays, I sort laundry into full load piles and I separate items by fabric weight before I put them in the dryer to make drying more efficient.

Fortunately, no one in our household ever requests extra laundry loads be done because their favorite whatever is in the laundry hamper.

Washing Dishes

If you have a dishwasher, use it.

A standard kitchen faucet pumps out 2 gallons of water per minute or more so if you run it for just 10 minutes while doing the dishes by hand you will have used 20 gallons of water. Older dishwashers use about 10-15 gallons of water per cycle and new models reduce water use by 50% or more.

Using the dishwasher was not a problem for me, but I was an over rinser. It was a hard habit to break. To find the sweet spot for our dishwasher I tried by putting in dishes with varying amounts of food left on and then seeing if they got clean or not. I also learned how to load the dishwasher to make sure the spray nozzles could reach the insides and outsides of the dishes.

Water and Energy Efficient Bosch Dishwasher

Our water conservation efforts got a boost in 2013 that put a dent in our wallet. The pump on our home’s original 23-year-old dishwasher died in a puff of smoke.

We considered having it repaired but decided to buy a new water and energy efficient dishwasher. It cost $570.00 plus tax and installation.

If you do not have a dishwasher or just want to do your dishes by hand, consider switching out your old kitchen faucet to a model that saves water every time you turn it on.

Showering and Bathing

Taking long, hot showers or taking a bath in a bathtub is not consistent with living in a drought-prone area.

In 2012, I decided to time how long it took me to take a shower (on average) so I could figure out how much water I was using. A standard showerhead pumps out 2.5 gallons of water per minute or more. At that rate, a 10-minute shower uses 25 gallons of water. A low flow showerhead uses a maximum of 2.0 gallons per minute and many models use less.

Low Flow Handheld Showerhead
Low Flow Handheld Showerhead that I Installed.

We decided to try a low flow handheld showerhead and I found one that used 1.6 gallons of water per minute for $45.00, which I installed. I am not the least bit handy so this demonstrates that almost anyone can do it. A handheld showerhead makes rinsing off easier, saving more water, so we decided to replace our other two showerheads.

As the drought worsened, we had to double down on water conservation so we probably took more basin baths than showers for a time. To take a basin bath you put your bath mat in front of your bathroom sink, fill the basin with water, wet a washcloth and soap up, and then use the water in the basin and your washcloth to rinse off. I did not like this at all.

I started practicing taking showers as quickly as possible without being ridiculous and eventually, this just became a normal way to take a shower. At one point, I decided to try taking a shower every other day unless I had been doing something that involved getting sweaty or dirty. Surprisingly, the condition of my skin and hair actually improved with less showering. On non-shower days, I would wash my face in the morning and before I went to bed. I still do this.

Flushing Toilets

Toilets are water hogs accounting for about 27% of indoor household water use. Older toilets use 3-5 gallons of water per flush or more and often develop slow leaks over time that end up wasting a lot of water. Newer models use 1.6 gallons per flush and high-efficiency toilets use 1.28 gallons per flush.

In 2014, we tried the “if its yellow, let it mellow” toilet flushing policy for a while but it did not seem like a good long-term strategy. Neither did putting a brick in the toilet tank or installing one of the retrofit kits that were being marketed as inexpensive ways to make your old toilet more water efficient.

Dual Flush High Efficiency ToiletWe decided to replace our three old leaky toilets with new high-efficiency toilets. At $560 each plus tax and installation, this was an expensive investment (the water company gave us a $25 rebate per toilet).

The toilet user pushes the lever one way to flush with 0.9 gallons of water and the other way to flush with 1.28 gallons of water (there is a label on top of the toilet tank).

After more than three years, the toilets work flawlessly and are well on their way to paying for their acquisition cost in water savings. Even if we moved tomorrow, I would be happy to have provided the next occupant with toilets that will continue conserving water for decades.

If after reading this post, you feel like racing to the nearest home improvement store to buy a high-efficiency toilet, great, if not that is okay, too.

Perhaps trying some water conservation habits is right for you. All it takes is the willingness to question the way you use water and to try out water saving ideas until you find the ones you and your family can live with. In a severe drought, you can up the ante by dusting off some of the ideas you tried and decided against (like basin baths).

I realize that many people rent an apartment, house, or condominium so dealing with a landlord or facility manager may present a challenge especially if you want to convince them to install water saving devices. If anyone has experience with this, please share with other readers.

Regardless, you can reduce your water use through behavioral changes without involving your landlord. If utilities like water are included in your rent, then you might not reap the financial benefits of reducing your water use, but that does not mean it is not worth doing.

Water conservation is a gift we give to ourselves and all the living things sharing the planet with us.

Featured Image at Top: Water Drop Falling into Water Making Concentric Circles – Photo Credit Shutterstock/science photo

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