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Put Your Money Where Your Life Is: How to Invest Locally Using Self-Directed IRAs and Solo 401(k)s
Learn how to stop investing in Wall Street and start investing in your local community with this practical layperson’s guide.
Americans agree on very little these days, but we can all agree on one critical Wall Street can no longer be trusted. Yet most of us continue to invest our money in the stocks and bonds of Fortune 500 companies, transferring our capital far from where we live and work. Local investing expert Michael Shuman offers another alternative. He shows how we can use two well-established—but rarely used—investment tools to keep our money close and get a return as good as or better than what we’d get investing in distant, indifferent corporations.
Shuman explains the nuts and bolts of self-directed IRAs and solo 401(k)s and how they can be combined with other recently legalized local investing tools. He details how to set these accounts up, identify and evaluate a whole range of local investment opportunities, and make sure account holders stay on the right side of the law. While the book is written for people without a lot of investment experience—Shuman explains concepts like “liquidity” and “diversification” in simple terms—even if you’re as experienced as Warren Buffett, this book will make you rethink everything you know about investing. With Shuman’s expert advice, you can strengthen your investment portfolio and your community, neighborhoods, and schools at the same time!
“As so many Americans feel powerless to confront a financial system designed to serve the few, Shuman offers us real tools that align our lives with our values. That’s power. I love this highly readable, timely, surprising book.” —Frances Moore Lappé, coauthor of Daring Democracy and author of Diet for a Small Planet
“Local cheese, local beer—and local investing! This is a valuable guide to taking money out of the few giant banks (which are probably using it to underwrite the fossil fuel industry) and putting it to work close to home!” —Bill McKibben, author of Falter
“Once again Michael Shuman has given us a clear manual for how well-meaning, good people (the 99.99 percent of us) can put their money where their hearts are—in communities where they live, in local businesses, trade, and retail.” —Vicki Robin, coauthor of Your Money or Your Life and author of Blessing the Hands That Feed Us
Americans agree on very little these days, but we can all agree on one critical Wall Street can no longer be trusted. Yet most of us continue to invest our money in the stocks and bonds of Fortune 500 companies, transferring our capital far from where we live and work. Local investing expert Michael Shuman offers another alternative. He shows how we can use two well-established—but rarely used—investment tools to keep our money close and get a return as good as or better than what we’d get investing in distant, indifferent corporations.
Shuman explains the nuts and bolts of self-directed IRAs and solo 401(k)s and how they can be combined with other recently legalized local investing tools. He details how to set these accounts up, identify and evaluate a whole range of local investment opportunities, and make sure account holders stay on the right side of the law. While the book is written for people without a lot of investment experience—Shuman explains concepts like “liquidity” and “diversification” in simple terms—even if you’re as experienced as Warren Buffett, this book will make you rethink everything you know about investing. With Shuman’s expert advice, you can strengthen your investment portfolio and your community, neighborhoods, and schools at the same time!
“As so many Americans feel powerless to confront a financial system designed to serve the few, Shuman offers us real tools that align our lives with our values. That’s power. I love this highly readable, timely, surprising book.” —Frances Moore Lappé, coauthor of Daring Democracy and author of Diet for a Small Planet
“Local cheese, local beer—and local investing! This is a valuable guide to taking money out of the few giant banks (which are probably using it to underwrite the fossil fuel industry) and putting it to work close to home!” —Bill McKibben, author of Falter
“Once again Michael Shuman has given us a clear manual for how well-meaning, good people (the 99.99 percent of us) can put their money where their hearts are—in communities where they live, in local businesses, trade, and retail.” —Vicki Robin, coauthor of Your Money or Your Life and author of Blessing the Hands That Feed Us
240 pages, Kindle Edition
Published June 2, 2020
22 people are currently reading
85 people want to read
About the author
Michael H. Shuman
28 books11 followersMichael H. Shuman is an economist, attorney, author, and entrepreneur, and a leading visionary on community economics. He’s Director of Local Economy Programs for Neighborhood Associates Corporation, and an Adjunct Professor at Bard Business School in New York City. He is also a Senior Researcher for Council Fire and Local Analytics, where he performed economic development analyses for states, local governments, and businesses around North America.
He is credited with being one of the architects of the 2012 JOBS Act and dozens of state laws overhauling securities regulation of crowdfunding. He has authored, coauthored, or edited ten books. His three most recent books are Put Your Money Where Your Life Is: How to Invest Locally Using Solo 401ks and Self-Directed IRAs; The Local Economy Solution: How Innovative, Self-Financing Pollinator Enterprises Can Grow Jobs and Prosperity; and Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street.
One of his previous books, The Small Mart Revolution: How Local Businesses Are Beating the Global Competition (Berrett-Koehler, 2006), received a bronze prize from the Independent Publishers Association for best business book of 2006. A prolific speaker, Shuman has given an average of more than one invited talk per week, mostly to local governments and universities, for the past 30 years in nearly every U.S. state and more than a dozen countries.
He is credited with being one of the architects of the 2012 JOBS Act and dozens of state laws overhauling securities regulation of crowdfunding. He has authored, coauthored, or edited ten books. His three most recent books are Put Your Money Where Your Life Is: How to Invest Locally Using Solo 401ks and Self-Directed IRAs; The Local Economy Solution: How Innovative, Self-Financing Pollinator Enterprises Can Grow Jobs and Prosperity; and Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street.
One of his previous books, The Small Mart Revolution: How Local Businesses Are Beating the Global Competition (Berrett-Koehler, 2006), received a bronze prize from the Independent Publishers Association for best business book of 2006. A prolific speaker, Shuman has given an average of more than one invited talk per week, mostly to local governments and universities, for the past 30 years in nearly every U.S. state and more than a dozen countries.
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Displaying 1 - 3 of 3 reviews
February 11, 2022
Esoteric as hell, but VERY interesting.
July 7, 2020
Intrigued by Living with my Money? Of course, I am. And Shuman had me at Investment Funding since that has been my stronghold on American Dollars for nearly 40 years. But he went deeper and discussed when it became popular.
That little thing called Sustainable Investments came along about ten years ago, when the world had tripped over itself, and from that point on selling local investments became hardcore reality – Michael Shuman hits on this in his book, by discussing local investment options with retirement accounts. He caught me off balance a bit when he disclosed that he’d been married to a talented family law professor whom he divorced in the middle of the 2008 financial crisis. Pardon me, but what a weasel!
Okay, back to the review – because the content of the book offers a plethora of real value to anyone who invests locally.
The in-depth case studies and in view of “local” (overused word warning here) investment opportunities expand the real knowledge gained in these pages. If self-reliance ever becomes an issue, I’d like a copy of this book on my bookshelf (not just in my kindle). I can definitely see how the reiteration of the financial mainstream could use a reboot applying these principles, and localizing the markets to build strength within given areas. Again, put your money where you live may be redundant, but the concept has value.
Between the self-directed retirement funds, 401K’s, and platitudes from various historic movies, I shimmied back and forth from laughter to seriously taking notes, until I actually printed out the full 241 pages, so I could write my notes inside the pages of the book. Applying these principles and ideas will be a definite part of my investment theory going forward. About midway through the 2nd or 3rd chapter, I realized I have several of Michael’s books on my bookshelf. Such as Going Local (1998) and Local Dollars, Local Sense (2012) and both of them are dog-eared and marked up, because I’ve added a selection of colored sticky tabs, sticky notes, and in one of the books a whole slew of folded pages, where I added more information.
I’m still a bit surprised I hadn’t delved deeper into the books and become better acquainted with the author.
His strategies for self-investment are sound. They’re rock solid. And I recommend anyone who is interested in becoming financially stable and remaining financially stable – regardless of the world financial stage – follow his directives. Every one of his books offers better and greater value in the local financial markets. The recommendations for investing in local churches, charities, businesses on your own Main Street, and even government projects offer almost anyone who has money to invest a great platform for their investment dollars. With a sense of fair trade, his efforts to grow a balanced investment portfolio in local markets compel success. These ideas are valuable because they are close to home, close to the hearth, and woven through the strength of our local communities. His explanations give solid footing to any options you might choose to apply, as well. I believe Shuman’s views would benefit a lot of people, particularly those who want to grow their own net value and build on local financial resources. These are decidedly sustainable investments presented within the context of a great read.
The only way you could possibly get nothing out of Shuman’s books is if you have no interest at all in financial success, self-sustaining financial growth, or business on the local level.
These books are easy to read, captivating, and I would recommend any or all of Shuman’s books.
###
4.5 Stars but only because he fills a lot of space with charts and spreadsheets when the words and case studies are most likely enough of the techno-logical thinking for most readers.
That little thing called Sustainable Investments came along about ten years ago, when the world had tripped over itself, and from that point on selling local investments became hardcore reality – Michael Shuman hits on this in his book, by discussing local investment options with retirement accounts. He caught me off balance a bit when he disclosed that he’d been married to a talented family law professor whom he divorced in the middle of the 2008 financial crisis. Pardon me, but what a weasel!
Okay, back to the review – because the content of the book offers a plethora of real value to anyone who invests locally.
The in-depth case studies and in view of “local” (overused word warning here) investment opportunities expand the real knowledge gained in these pages. If self-reliance ever becomes an issue, I’d like a copy of this book on my bookshelf (not just in my kindle). I can definitely see how the reiteration of the financial mainstream could use a reboot applying these principles, and localizing the markets to build strength within given areas. Again, put your money where you live may be redundant, but the concept has value.
Between the self-directed retirement funds, 401K’s, and platitudes from various historic movies, I shimmied back and forth from laughter to seriously taking notes, until I actually printed out the full 241 pages, so I could write my notes inside the pages of the book. Applying these principles and ideas will be a definite part of my investment theory going forward. About midway through the 2nd or 3rd chapter, I realized I have several of Michael’s books on my bookshelf. Such as Going Local (1998) and Local Dollars, Local Sense (2012) and both of them are dog-eared and marked up, because I’ve added a selection of colored sticky tabs, sticky notes, and in one of the books a whole slew of folded pages, where I added more information.
I’m still a bit surprised I hadn’t delved deeper into the books and become better acquainted with the author.
His strategies for self-investment are sound. They’re rock solid. And I recommend anyone who is interested in becoming financially stable and remaining financially stable – regardless of the world financial stage – follow his directives. Every one of his books offers better and greater value in the local financial markets. The recommendations for investing in local churches, charities, businesses on your own Main Street, and even government projects offer almost anyone who has money to invest a great platform for their investment dollars. With a sense of fair trade, his efforts to grow a balanced investment portfolio in local markets compel success. These ideas are valuable because they are close to home, close to the hearth, and woven through the strength of our local communities. His explanations give solid footing to any options you might choose to apply, as well. I believe Shuman’s views would benefit a lot of people, particularly those who want to grow their own net value and build on local financial resources. These are decidedly sustainable investments presented within the context of a great read.
The only way you could possibly get nothing out of Shuman’s books is if you have no interest at all in financial success, self-sustaining financial growth, or business on the local level.
These books are easy to read, captivating, and I would recommend any or all of Shuman’s books.
###
4.5 Stars but only because he fills a lot of space with charts and spreadsheets when the words and case studies are most likely enough of the techno-logical thinking for most readers.
March 27, 2022
A very good theoretical foundation and practical guide on why and how to invest locally - from paying off someone's credit cards, to joining the local food coop, to sophisticated self-directed 401ks, it's all here. Very inspiring book about something that's not that easy to do.
Displaying 1 - 3 of 3 reviews