Every so often a book appears and I actually find the time to read it — a kind of perfect timing. I was lucky to get a chance to read (and review) a book I think you’ll enjoy: This Is the Year I Put My Financial Life in Order by New York Times columnist John Schwartz.
Right off the bat, I see this book as a natural companion to the classic The Millionaire Next Door — but not in the obvious way. Schwartz is a terrific writer with a long career at respected outlets like Newsweek, The Washington Post, and the New York Times. His book reads more like an engaging financial memoir than a dry how-to guide. Filled with funny stories and cringe-worthy moments, he traces a life of modest means that ends in a comfortable retirement. This isn’t a Mr. Money Mustache-style manifesto.
Schwartz’s story, with its highs and lows, feels very much like the classic American Dream. Not the FIRE dream of saving 50–70% to retire early, but the steady, sensible path you get when you save 15–20% of your income and avoid big splurges over a long career. He and his wife Jeanne end up with what The Millionaire Next Door says people get when they follow sound rules.
One part that hit me hard: here’s a guy who loves his job. I’m jealous. As a journalist, Schwartz weaves his career through the book, and it’s a pleasure to read. The old media world went through massive change in the 2000s as new voices and disruptions upended established outlets. Getting through that as a working reporter required real skill and grit — which Schwartz clearly has.
Would I want to work into my 60s or beyond in journalism? Hard to say. But there’s no sign Schwartz dreads getting out of bed each morning, unlike many people stuck in cubicles.
Whether you aim to retire early or at a traditional age, Schwartz shares useful lessons:
Schwartz’s chapter on houses is one of my favorites. He tells some epic landlord failures from his time renting in New York City. You might come away thinking that renting out property is a recipe for disaster — and in NYC, it can be. My takeaways were simple: don’t rent property in NYC unless you’re set up to handle serious legal and financial risks, and, really, don’t rent property in NYC.
I respect how Schwartz handles hard times. When he’s juggling two mortgages because his terrible NYC apartment won’t sell, he survives on fries and gravy for lunch every day. He shares a close brush with bankruptcy and the family discussions that followed. That low point led to lessons they used later.
After they sell the NYC disaster, the Schwartzes buy a fixer-upper and, over time, turn it into a valuable asset. Home equity became a major part of their net worth — something that seemed impossible back when bankruptcy loomed. I liked the simple Venn diagram Schwartz used to pick a house: Commute, Schools, Affordability. He thinks a manageable commute is under 45 minutes; I start stressing at 30. Some families accept hour-and-a-half commutes for “good” schools, but that extra time away from kids matters more than many realize.
The book blends humor and heart. Schwartz leans progressive and is frank about the importance of solid health insurance when his wife Jeanne faces a medical emergency. He argues for fixing and strengthening Obamacare rather than scrapping it. Health crises are often the worst things for a household’s finances, and we do have the resources in this country to provide health insurance for everyone.
Schwartz cites the USDA’s $233,610 figure for raising a child — a reminder kids are expensive. In his chapter “The Kids,” he shares stories about raising three children in an area with high costs. After reading about pricey summer camps, I’m glad we live in the Midwest. I also respect that he paid for his children’s out-of-state college tuition. In our family we plan to cover about half of our twins’ in-state costs; grandparents will pitch in a bit, and the rest will come from scholarships and work. Schwartz’s kids are lucky to start adult life without student debt. It cost him a lot in retirement savings, but he’s a committed journalist — who knows how long he’ll keep writing. Maybe he’ll be at it into his 90s like his dad.
For early-retirement fans, Schwartz’s missteps and insights are valuable. The book’s a real page-turner — it doesn’t get bogged down in needless detail. His personal stories and non-preachy tone make the ideas easy to absorb. FIRE bloggers may think, “I already know all this,” and that’s fine — we all begin somewhere.
This book is especially good for people who want a practical example to follow: someone relatable, with real struggles and wins. It also reminds us that a job can be a good thing. John Schwartz carved a rewarding career in journalism without an Ivy League pedigree. Read this alongside The Millionaire Next Door — the how-to next to a real-world example.