Average customer rating:
- Great book for learning about trading stocks
- Great Book for any Investor.
- Mad Man? Not really, more a Market Genius
- Fundamental investing in a layman's language
- Super Read
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Jim Cramer's Real Money: Sane Investing in an Insane World
James J. Cramer
Manufacturer: Simon & Schuster
ProductGroup: Book
Binding: Hardcover
 General
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Introduction
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Stocks
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Jim Cramer's Mad Money: Watch TV, Get Rich
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How To Make Money In Stocks: A Winning System in Good Times or Bad, 3rd Edition
ASIN: 0743224892 |
Book Description
How do we find hot stocks without getting burned? How do we fatten our portfolios and stay financially healthy? Former hedge-fund manager and longtime Wall Street commentator Jim Cramer explains how to invest wisely in chaotic times, and he does so in plain English in a style that is as much fun as investing is -- or should be, when it's done right.
For starters, Cramer recommends devoting a portion of your assets to speculation. Everyone wants to find the big winners that can bring outsized gains, and Cramer explains how to allocate your portfolio so that you can afford to take this kind of risk wisely. He explains why "buy and hold" is a losing philosophy: For Cramer, it's "buy and homework." If you can't spend an hour a week researching each of your stocks, then you should hand off your portfolio to a mutual fund -- and Cramer identifies the very few mutual funds that he'd recommend.
Cramer reveals his Ten Commandments of Trading (Commandment #5: Tips are for waiters). He explains why he's not afraid to compare investing to gambling (and tells you which book on gambling you should read to become a better investor). He discloses his Twenty-Five Rules of Investing (Rule #4: Look for broken stocks, not broken companies).
Cramer shows how to compare stock prices in a way that you can understand, how to spot market tops and bottoms, how to know when to sell, how to rotate among cyclical stocks to catch the big moves, and much more. Jim Cramer's Real Money is filled with insider advice that really works, information that Cramer himself used to make millions during his fourteen-year career on Wall Street.
Written in Cramer's distinctive turbocharged style, this is every investor's guide to what you really must know to make big money in the stock market.
Download Description
"How do we find hot stocks without getting burned? How do we fatten our portfolios and stay financially healthy? Former hedge-fund manager and longtime Wall Street commentator Jim Cramer explains how to invest wisely in chaotic times, and he does so in plain English in a style that is as much fun as investing is -- or should be, when it's done right. For starters, Cramer recommends devoting a portion of your assets to speculation. Everyone wants to find the big winners that can bring outsized gains, and Cramer explains how to allocate your portfolio so that you can afford to take this kind of risk wisely. He explains why ""buy and hold"" is a losing philosophy: For Cramer, it's ""buy and homework."" If you can't spend an hour a week researching each of your stocks, then you should hand off your portfolio to a mutual fund -- and Cramer identifies the very few mutual funds that he'd recommend. Cramer reveals his Ten Commandments of Trading (Commandment #5: Tips are for waiters). He explains why he's not afraid to compare investing to gambling (and tells you which book on gambling you should read to become a better investor). He discloses his Twenty-Five Rules of Investing (Rule #4: Look for broken stocks, not broken companies). Cramer shows how to compare stock prices in a way that you can understand, how to spot market tops and bottoms, how to know when to sell, how to rotate among cyclical stocks to catch the big moves, and much more. Jim Cramer's Real Money is filled with insider advice that really works, information that Cramer himself used to make millions during his fourteen-year career on Wall Street. Written in Cramer's distinctive turbocharged style, this is every investor's guide to what you really must know to make big money in the stock market. "
Customer Reviews:
Great book for learning about trading stocks.......2007-10-02
Jim Cramer's book is full of usefull and sound advice about investing in stocks. All his rules make common sense and should be easy for anyone to apply in thier own investing. Discipline is the key, and he stresses that. He didn't become a multi-millionaire and get his own show on CNBC by being a dummy. No one can be right all the time, and Cramer is no exception, but he is right much more than he is wrong. And that is all you need to make alot of money on Wall Street. Dont listen to the Cramer haters out there, THEY KNOW NOTHING!!! and will never come close to duplicating Cramer's investing success.
Great Book for any Investor........2007-10-01
I am just starting to dabble in the stock market so I'm trying to learn as much as I can right now.
This book is very easy to understand and a very fast read. Being a really big fan of Cramer already this was a 'no-brainer', and although he is very educated he really translates his thoughts and advice in an easy to understand way.
I strongly recommend this book for anyone who is interested in the stock market.
Mad Man? Not really, more a Market Genius.......2007-09-29
Not much value on my side reviewing this book for the hundreds time. What's the take away?
I've been investing in stocks for nearly 20 years, with at least so much success that I keep with it, more or less. The difference is now I get why stocks move or don't (at least much more than I did before). And this book (and his show) is key to that. Awesome guiding priciples, rules of thumb, and market insights.
It's a fun book to read, if you have a certain level of interest in the business world, which is kind if key, of course. Many good laughs! I love his style (which I'm sure many might find offensive or so). But heck, it works for me. I bought both his other books as well. It's so good. The return on this "investment" can't be calculated. Hope this helps! :-)
Fundamental investing in a layman's language.......2007-09-23
Booya Jim!! This is a great book about investing using a fundamental approach. What is great is that the basics of investing are explained in a layman's language. You have to read chapter 5 to get a basic 101 on business cycles and how to exploit the cycle in buying and selling stocks.
I can list all the chapters and what they tell you about or list all the rules Jim explains - but that is rote repetition. Read chapter 4 about basics of evaluation. Jim does a wonderful job about comparing apples to apples e.g., Walgreen to RiteAid and goes into depth why he thinks what should be bought. This lesson alone is worth the price of the book for an investor starting out. Another good lesson is to evaluate the current value of a stock.
Of course, you can attend some expensive classes and get uncompreshensible instructions in an university, but for the price of the book, the value of the lessons here cannot be beaten.
In addition to business cycles, Jim gives some great insights e.g., he states that it is stupid to consider investing and trading as a dichotomy. How true! His famous buy-and-homework approach is like hearing a great 101 lesson from a Professor who also knows the real world. I haven't made any money in buying and holding. My emotions eventually have gotten hold of me. Instead, you need to know when to buy and when to sell. There are separate chapters on predicting tops and bottoms of both the market and individual stocks - again, wonderful reads.
In addition there are 40 rules about investing. Some gems are "I don't care what you paid for the stock, would you buy it now?" question to paraphrase. He gives a lot of credit to the Goddess, now his wife!
All in all, a great book and a must-have book in your investing library. I read the book almost two times so that I could reinforce the lessons, especially about valuation and business cycles. My style of investing, which has been pretty successful, is both a combination of fundamental and technical factors, while Jim's is more fundamental. But the fundamental 101s in the book is useful and should be a must background for anyone wanting to put their hard-earned money on the fire in the stock market.
Super Read.......2007-08-26
Awesome Read! I've read a few investment books, but this one is the best! I've been out of the market for a bit, my old way to investing had not produced what I thought it could. Jim has turned me around and retaught what all the professors in college could not. Super fast read, and I could not thank Jim enought for sharing is expertise. I feel like a new and better invester....Homework, Homework, Homework...the Key to succuess.
Five Stars******
Average customer rating:
- Not rocket science, but then again, most things worth doing aren't
- great gift for newlyweds!
- amazing! awesome!
- Are You Drowning in Debt and Stressed Out of Your Mind?
- Really Good
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The Total Money Makeover: A Proven Plan for Financial Fitness
Dave Ramsey
Manufacturer: Thomas Nelson
ProductGroup: Book
Binding: Hardcover
Budgeting & Money Management
| Personal Finance
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Credit Ratings & Repair
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The Total Money Makeover Workbook
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The Financial Peace Planner: A step-by step guide to restoring your family's financial health
ASIN: 0785289089
Release Date: 2007-02-06 |
Book Description
The success stories speak for themselves in this book from money maestro Dave Ramsey. Instead of promising the normal dose of quick fixes, Ramsey offers a bold, no-nonsense approach to money matters, providing not only the how-to but also a grounded and uplifting hope for getting out of debt and achieving total financial health.
Ramsey debunks the many myths of money (exposing the dangers of cash advance, rent-to-own, debt consolidation) and attacks the illusions and downright deceptions of the American dream, which encourages nothing but overspending and massive amounts of debt. "Don't even consider keeping up with the Joneses," Ramsey declares in his typically candid style. "They're broke!"
The Total Money Makeover isn't theory. It works every single time. It works because it is simple. It works because it gets to the heart of the money problems: you.
Customer Reviews:
Not rocket science, but then again, most things worth doing aren't.......2007-10-04
If you are looking for a step-by-step guide to crawl out from under your financial rock, get control, and win with money, this is your book. Dave is a fantastic communicator, and part of that is his willingness to tell it like it is. If it's stupid, he calls it stupid; but always with the heart to see people change their lives for the better. Dave has said over and over that success with finances is only 20% knowledge, but 80% behavior. This book covers the basics of the head knowledge, but hopefully Dave's insights and the numerous personal narratives from real people who have implemented the plan and are winning with money will inspire you to change your behavior. If you need more convincing, just find his radio show or Web site and listen to how he helps people change their lives for the better.
great gift for newlyweds!.......2007-10-03
Bill Ramsey's book is our gift of choice for newlyweds. Finances are often a source of stress in marriage. If they'll read this book and put the principles into practice, it will help prevent a lot of unnecessary heartache.
amazing! awesome!.......2007-09-27
this the best book I`ve read in my whole life. absolutely the best! read it and, you`ll see that I`m writing the truth. thanks dave!
Are You Drowning in Debt and Stressed Out of Your Mind?.......2007-09-25
Then this book will help you.
Sure, the concepts in the book aren't new. But when you are in debt and need help, his crystal clear "baby steps" help you see that there is a way out of your mess. You realize that there are things you can start doing immediately to improve your situation.
The book is easy to read and has several stories of people who turned their desperate financial situations around. After reading this you will have a clear idea of the steps you need to take.
His radio program and website expand further on these concepts. His website has a membership area where, for $9.99 per month, you can have access to a forum and a slick program that automatically generates a budget for you and walks you through the baby steps and keeps track of them for you. You don't need to purchase and download software.
The book, combined with these additional resources, will give you a great start on tackling your debt.
Really Good .......2007-09-24
This is a must have book. I also got the tape to reinforce what I was reading. My Fiance and I have a real focus now. Great book. Received in GREAT shape!!! Better than the one I rented at the library and it was the updated version. Fast delivery. Thank you!
Average customer rating:
- don't waste your money on this book or its strategy
- This book has been done before, called Missed Fortune 101
- Looking for answers
- Very, Very dangerous book
- What's wrong with Stop Sitting on Your Assets
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Stop Sitting on Your Assets: How to Safely Leverage the Equity Trapped in Your Home and Transform It Into a Constant Flow of Wealth and Security
Marian Snow
Manufacturer: Ethan Madison Publishing, Inc.
ProductGroup: Book
Binding: Hardcover
Investments
| Real Estate
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Management
| Management & Leadership
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Budgeting & Money Management
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The Last Chance Millionaire: It's Not Too Late to Become Wealthy
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Ordinary People, Extraordinary Wealth: The 8 Secrets of How 5,000 Ordinary Americans Became Successful Investors--and How You Can Too
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The New Rules of Money: 88 Simple Strategies for Financial Success Today
ASIN: 0979014255
Release Date: 2007-03-15 |
Product Description
FROM THE BACK COVER: Are you caught up in the financial thinking of the last century? That's when we learned to buy a home and pay it off as quickly as possible. It made sense in the conditions that existed back then. It doesn't make sense today. How would you like to: 1) Safely leverage and compound assets you didn't realize you had? 2) Become your own bank and build family wealth? 3) Pile up stock market gains, but never take the losses? 4) Lock-in a rich, secure and carefree retirement? 5) Transform the IRS into your wealth-building partner? 6) Create real wealth, empowering you to help others? 7) Get to your existing retirement funds with little or no taxes? 8) Leave a fortune to your heirs? STOP SITTING ON YOUR ASSETS make these strategies crystal clear -- and you can apply them with security and ease. If you own a home, you owe it to yourself to know about today's new reality: You are sitting on a potential fortune that can safely and confidently be put to work to build a massively abundant financial future. A future so rich that -- before STOP SITTING ON YOUR ASSETS -- could have only existed in your dreams.
Customer Reviews:
don't waste your money on this book or its strategy.......2007-10-05
First of all, the author has enough material for a magazine article at best and she has padded and stretched it into a book. That makes for an annoying read.
Secondly, her math is deceitful. She says to borrow the equity from your home at 8% and put that money to work getting an 8% return and you will end up with a huge pile of money. What about the payments? Oh, yeah. She subtracts those as a lump sum at the end from your pile of money. Everyone knows the payments have to made every month so if you're borrowing at 8% and getting an 8% return you're simply going to break even. If you're as smart as a fifth grader you know that math calculations have to be performed in the correct order or you'll get the wrong answer. She also gives an example of someone who could pay cash for a house but takes out a mortgage anyway and invests the money. She conveniently ignores the fact that the person could simply pay cash for the house and then invest what they would have made in payments each month and that money would grow to almost the same amount as her "safety fund"
The third problem with this strategy is that the only way to get this 8% tax free, totally safe return is to buy a questionable insurance product that she or her friends will be happy to sell you. Then you'll have the IRS looking over your shoulder.
I'm not a big fan of a mortgage free house for a number of reasons but if you're going to harvest equity and invest it, you'd better know what you're doing. For the average person it's way too risky.
Start saving some money by NOT buying this book.
This book has been done before, called Missed Fortune 101.......2007-09-22
Sad to see people trying to ride the coattails of another book and rip it off so blatantly. The orignal book called Missed Fortune 101 introduces the world to these strategies. Well Stop Sitting comes in and basically changes a word here and a word there to try and be different. For example Missed Fortune 101 talks about "going down the highway of life with one foot on the gas and one on the brake" Ms. Snow talks about going down the highway with 4 flat tires and a broken windshield...Come on!
Read Missed Fortune 101 Missed Fortune 101: A Starter Kit to Becoming a Millionaireto read the real story first, Read Stop Sitting for a rehash, if you like that kind of stuff...
I know I'm gonna write a book called Elbib and have it start out with a guy named Aaron and a girl named Emily who live in the jungle, then get kicked out of the jungle for eating the forbidden vegetable...
Looking for answers.......2007-08-19
I, too, was in awe after reading this book. The ideas are presented in a simple, easy to understand way, and it seems to me to be very logical. I'm no financial genius, rather a former math teacher and the numbers seem to work on paper. But, really, after the awe has worn off and reality hits, what's the catch? This seems too easy. If this idea has been in existance for several years, then why hasn't it caught on with the "masses?" Why don't more financial advisors recommend this? Is there something I'm missing or does it really work that simply and just nobody knows about it? Somebody....give me the real scoop!
Very, Very dangerous book.......2007-08-02
As I began to read this book, my first challenge was to get over the unearned arrogance of the author. Marion Snow may have a "scientific mind" and have a little experience in the mortgage industry selling people mortgages, but she is no financial planner.
The book is absolutely full of errors and misrepresentations of how some very complex financial products work. She literally demonizes financial planning professionals who have spent years of their lives helping clients and studying the ever changing landscape of both financial planning, estate planning, as well as the Internal Revenue Code.
Some of her VERY dangerous errors are as follows:
First, nearly all of her calculations discuss saving taxes at a 30 or 33% tax rate. While this sounds good, the average American is nowhere near the 33% tax bracket. The 33% tax bracket does not begin for most married Americans until they have over $195,000 of annual income.
Secondly, the insurance products that she describe do not function as she indicates. On page 110, she casually mentions that her insurance strategy will work as "long as you are careful not to deplete your cash value." She does not mention that the "tax advantaged policy loans" she advocates are 1)charged interest by the insurance company, and 2) taxable if the policy lapses in later years. Additionally, she neglects to mention that Universal life policies have increasing costs which will cause them to lapse using her strategy.
Third, all of her calculations are "assumed and hypothetical." They do not address real numbers. About halfway though the book she indicates she "got her insurance license" just to verify her findings. Unfortunately, an insurance license is viewed by most credentialed financial planners with the same reverence that training wheels are viewed by Olympic bicycle racers...
Fourth, her mortage strategies advocate taking illegal tax deductions - the tax deductions she describes are not allowable to the degree the advocates, in the tax brackets she uses as examples. The deductions "phase out" well before a taxpayer can use them to the degree she illustrates. Simply put - the numbers are INCORRECT.
Ms. Snow should spend a few years in school and learn what she is talking about - and a few more years working with real world financial clients -before being arrogant enough to throw stones at those who do.
She is flat wrong in many areas and will hurt a great many people who take her cutesy approach to financial planning seriously.
Jon - CFP, ChFC
What's wrong with Stop Sitting on Your Assets.......2007-07-29
This book uses fuzzy math to reach predetermined conclusions.
No only is the math flawed, but what's worse is that the book ignores the tax code and 264(a)3 specifically (which dramatically affects the concepts discussed in his books).
There is no such thing as a tax free, money management free, expense free "side fund" as she discusses in this book.
It is clear that the author does not understand how money grows in the real world and does not understand life insurance (which is ironic since the book is about building wealth using indexed equity life insurance).
Of all the books in the marketplace which discuss Equity Harvesting, this is by far the worst one.
Average customer rating:
- Great Book for young people just starting out
- Easy to read and Good Information
- A Great Gift
- A simple guide to uncomplicate our lives towards success!
- Advice from a 20 yr old fabulous not-so-broke college student
|
The Money Book for the Young, Fabulous & Broke
Suze Orman
Manufacturer: Riverhead Trade
ProductGroup: Book
Binding: Paperback
Budgeting & Money Management
| Personal Finance
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General
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Money Management for Young People
| Personal Finance
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General
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Women & Money: Owning the Power to Control Your Destiny
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9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying; Revised and Updated Version
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The 9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying
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Suze Orman's Financial Guidebook: Put the 9 Steps to Work
ASIN: 1594482241 |
Amazon.com
If you are tired of struggling to make ends meet but don't know a 401(k) from Special K, this book is for you. Aimed specifically at "Generation Broke"--those in their twenties and thirties who are working yet buried in credit card debt and student loans--this user-friendly guide offers a clear introduction to practical investing and money management techniques that can turn even a dismal financial situation around. Bestselling author Suze Orman has a knack for taking the fear out of money matters, and in The Money Book for the Young, Fabulous &: Broke, she shows readers how to set priorities and achieve goals, whether it is to buy a house or save for retirement or pay for a child's education. She also offers inspiration to readers to face their financial problems and get started on a solution. After all, there is good news: young people still have the time to correct problems so that they will never be broke again. Readers who find terms such as diversification and IRA rollover scary--or worse, unimportant--will learn much from this book.
In these pages, Orman clearly and succinctly explains what a FICO score is and why it's so important, offers the lowdown on stocks and mutual funds, provides career advice, and offers lots of tips on dealing with student loan debt, saving money even when times are tight, debt consolidation strategies, and the safest way for newlyweds to merge their finances. She also offers information on credit cards, including why canceling cards is not a good idea, when it makes sense to use them, and the best strategies for paying them off. It may not be the only money book you'll ever need, but it's an excellent place to start. --Shawn Carkonen
All About Suze Orman
The Money Book for the Young, Fabulous & Broke is financial expert Suze Orman's answer to a generation's cry for help. An Emmy-award winner, Orman is the author of four consecutive New York Times® bestsellers, The 9 Steps to Financial Freedom, The Courage to Be Rich, The Road to Wealth, and The Laws of Money, the Lessons of Life. The Money Book was written to address the specific financial reality that young people face today, and it offers a set of real, not impossible, solutions to the problems at hand and the problems ahead.
- Listen to a special message from Suze Orman.
- Visit the Suze Orman Store
Suze Orman: The Bestsellers
- The Courage to Be Rich
- The Road to Wealth
- The Laws of Money, the Lessons of Life
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- Suze Orman's Financial Guidebook
- The 9 Steps to Financial Freedom
|
- Money Cards: Words That Lead to Wealth
- You've Earned it, Don't Lose It
- The Money Book for the Young, Fabulous & Broke, Audio CD
|
Build Your Own Suze Orman Library
The Essentials
The Laws of Money |
The 9 Steps to Financial Freedom |
You've Earned It, Don't Lose It |
Money Cards: Words That Lead to Wealth |
Suze Orman's Financial Guidebook |
Suze Orman's Will And Trust Kit |
Pep Talks: Suze Orman Audios
The Courage to Be Rich, CD |
The Road to Wealth, CD |
The Laws of Money, the Lessons of Life, CD |
The Courage to Be Rich, Cassette |
The Road to Wealth, Cassette |
The Laws of Money, the Lessons of Life, Cassette |
Bestselling Suze Orman Books on DVD
The Laws of Money, the Lessons of Life, 2003 |
The 9 Steps to Financial Freedom, 2004 |
The Road to Wealth, 2004 |
The Suze Orman Collection, 2003 |
The Courage to Be Rich |
The Best of the Suze Orman Collection, 2004 |
Book Description
First time in paperback. The #1 New York Times bestseller from the phenomenal author of The Courage to Be Rich.
The world's most trusted expert on money matters answers a generation's cry for help-and gives advice on
- Credit card debt
- Student loans
- Credit scores
- The first real job
- Buying a first home
- Insurance facts: auto, home, renters, health
- Financial issues of the self-employed
And much more advice that fits the realities of "Generation Broke."
Customer Reviews:
Great Book for young people just starting out.......2007-10-05
I am a 25 year old single mother of one little girl. I found the information in this book very helpful. I now have to tools to set myself and my daughter on the right path to a debt free life style. I highly recommend this book.
Easy to read and Good Information.......2007-10-05
Initially I watched her show: YFB on public television. It had great information for the young adult: students, recent grads, couples, first time homeowners. I like her style of teaching, she is interesting and brings a good perspective to her clients. I borrowed this book from the library and decided to buy it for my own collection. This book could be more in depth, but it is a great overview. If you want to know more about a particular subject you can check out her other books or videos. Suze has a way of making you feel okay about your particular money situation, and offers reasonable advice. I think to myself, "yeah, I can save money. Yeah...I can own a home." I definitely recommend this book as well as the video.
A Great Gift.......2007-09-15
While reading this book, I kept thinking "Wow! I wish I had known this when I was in my 20's!" So, I promptly bought 3 copies and sent them to our children, who are in their 20's. I hope they do sit down and read this, or at least browse it because there is information about every financial decision they are likely to ever face as adults. Wisdom and good information. It's really the best financial gift you could give to your child.
A simple guide to uncomplicate our lives towards success!.......2007-09-10
I saw Suze on TV about 4 months ago, and tried to take some notes. When I saw her again, I said to myself I had to buy the book, but then found out the CD version and decided to buy it instead. It is great. I have recently started a new job and I listen to her on my way to work. Her advice is simple, direct and reasonable (explaining why instead of just sayind "do it"). I am thinking of buying one for my brother who will be graduating soon!!! :)
Advice from a 20 yr old fabulous not-so-broke college student.......2007-09-04
This book was amazing! Suze always delivers her advice with a bit of humor, some common sense, and language that anyone can understand. After each chapter that describes the basics of all money matters, there is a section of questions that are very similar to problems I hear from friends all the time. A great book that should be on every college student's list.
Average customer rating:
- Good Information
- Love, love, love this book!!!
- Not worth the purchase if you buy the book
- Money Makeover Workbook is Helpful
- very good insight
|
The Total Money Makeover Workbook
Dave Ramsey
Manufacturer: Thomas Nelson
ProductGroup: Book
Binding: Paperback
Budgeting & Money Management
| Personal Finance
| Business & Investing
| Subjects
| Books
Credit Ratings & Repair
| Personal Finance
| Business & Investing
| Subjects
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General
| Personal Finance
| Business & Investing
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Financial Planning Workbooks
| Personal Finance
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The Total Money Makeover: A Proven Plan for Financial Fitness
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ASIN: 0785263276 |
Book Description
In this fresh, interactive guide, respected financial expert Dave Ramsey offers a proven, comprehensive plan for getting in shape financially.
Customer Reviews:
Good Information .......2007-10-05
Good information in the workbook but really the same information as in the Total Money Makeover book, I recommend one or the other but not both books -- and I think Dave would agree!
Love, love, love this book!!!.......2007-08-23
Dave Ramsey teaches how to SIMPLY manage your money, develop a working budget and to become DEBT FREE!! It's a weird concept, especially for Americans, but since reading this book and taking Dave's Financial Peace University, my husband & I have our $1K emergency fund, pay cash for EVERYTHING, and so far have paid off over $5K in debt in just a few months. We will be completely debt free (except the house) within 2 years and plan to pay off the house w/in 7 years (21 years shorter than the mortgage note). That was something we could have NEVER wrapped our brains around in the past. Now, instead of working to pay Visa and Mastercard, we will be working to pay for our FUTURE!!
It's a great read and every person in the USA needs to read this book. I have no doubt, it would do amazing things for our ecomony!!
Not worth the purchase if you buy the book.......2007-08-08
I bought the Total Money Makeover Workbook along w/ the hardcover book, thinking it would be more 'hands-on'. It wasn't worth the extra cost. A lot of the exercises seemed written for children - fill in the blanks w/ words you read in the passages... really silly. Plus, all the necessary worksheets are in the hardcover book already, so the workbook didn't seem to give me anything new. Don't waste your money on the workbook.
Money Makeover Workbook is Helpful.......2007-08-02
If you're trying to dig yourself out of a debt nightmare or just want to get your finances in order, Dave Ramsey's books and advice are the way to go. Take the time to read his books - you won't be sorry.
very good insight.......2007-08-01
I just purchased the book along with the workbook. And I've also purchased the book on cd. Both explain things very well. My daughter and I are still in the working process.
Average customer rating:
- not worth your time
- This book has NOTHING to do with money. Don't waste your time or money
- Is Comfort Important To You?
- An Amazing Book
- Author FAILS to prove his thesis, to put his money where his mouth is.
|
Busting Loose From the Money Game: Mind-Blowing Strategies for Changing the Rules of a Game You Can't Win
Robert Scheinfeld
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover
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The Passion Test: The Effortless Path to Discovering Your Destiny
ASIN: 0470047496 |
Book Description
Real people, real transformations!
"Absolutely amazing! It completely shifts your paradigm for life. One of the most wonderful things about it is that the results are immediate. My whole perception and relationship to money has undergone a major, substantial change."
—Chris Attwood, writer and teacher, California
"I've spent most of my life trying to figure out what's true and what's real. I have to say I now have a clear glimpse into what it really is."
—Tom Hill, Colorado
"Before Busting Loose from The Money Game, I was very unhappy and frustrated in my life. I was driven to find more ways to make money. I changed jobs, cities, countries, went back to school, read books. Financially, the stress was causing anxiety attacks and migraines so severe I stayed in bed. The joy I feel now is priceless. Money is there when I need it, in the amount that's needed, no matter what occurs (car repairs, unplanned trips, etc.). It's absolutely amazing!"
—Suresh Thakoor, Texas
"As a retired professor on a fixed and limited income, I always lived from a tight budget and felt compressed by it-especially at the end of the year. I don't use a budget anymore and have opened up new streams of income that were always closed to me in the past."
—Howard Rovics, Connecticut
"It opened a whole new dimension for me and shifted my perspective on life completely. I especially love how practical it is. The application is so simple, so effective . . . and fun!"
—Doris Kahle, Hagen, Germany
"I'd had a lot of success in the corporate arena, made a ridiculous amount of money and lost a ridiculous amount of money. But I was caught in a cycle of making it, losing it. I needed to break that cycle-for myself and my family-and this gave me the keys to do that. Busting Loose from The Money Game opened a window I had no clue even existed. This is very cutting-edge, a revolutionary approach to unwrapping yourself from limitations. If you're not satisfied with where you are financially and you're concerned about your future, get this book!"
—Ben Coleman, Texas
Customer Reviews:
not worth your time.......2007-10-06
I am what my friends call money and self help obsessed...so reading this book was no stretch for me. I can honestly say that I have read a lot of books on money, and a lot of books about freeing you mind...and this is the WORST book written on both subjects. I totally wasted my time, please take my advice and don't waste yours. Every chapter left me thinking...WHAT? no seriously what is he talking about? It was worthless and I would never recommend it to anyone.
This book has NOTHING to do with money. Don't waste your time or money.......2007-09-30
This book has nothing to do with money. It is a book full of vain philosophies, none of which are backed with any proof whatsoever. If you are looking for good books on managing money, getting out of debt, or building wealth I would recommend books such as: The Total Money Makeover by Dave Ramsey; Rich Dad, Poor Dad by Robert Kyosaki; Multiple Streams of Income by Robert Allen; and Money, What Financial "Experts" Will Never Tell You by Alan Williams, Peter Jeppson, and Sanford Botkins. Also check out the website and resources found at [...].
Is Comfort Important To You?.......2007-09-28
Like others have said, the idea is the world, including the human experience is holographic. Maybe it's true, maybe it's not. I'd save a lot then expect to lose it over the course of a year or more it would take you to cross the mental point where you 'bust loose' and really convince yourself that life and money aren't real. At the very least, do not owe anyone money. I just could not vibe with this book for long. I'd rather save, invest and get stuff I want.
Try the library. I never read it now.
An Amazing Book.......2007-09-20
This is an amazing book that really helps the reader to eliminate the sources of dissatisfaction in his/her life if one is willing to commit to The Process. After just a few short days of using The Process I have had some incredible personal breakthroughs and I eagerly look forward to what else I create within my life experience.
My inspiration to buy this book came largely from the few really negative reviews written on this site. Thank you to all those who shared their fears in the form of attacks against the book and its author. I have been clearly shown again that there is tremendous value in that which stirs up so much emotion as people keep their death grip on obsolete views of the nature of life. The world never was flat just because people believed that to be true, acted as if it were true, and invested their lives in protecting those beliefs.
In the pages of this book you will not find strategies on how to earn more money or to protect what you already think that you have, however you will find a strategy to recover all of the energy and power that you have given to your life situations. As you recover this power you will have the capacity to act more boldly to pursue the unique authentic life that you came here to live.
If you have any inclination to buy the book, just go for it. Then give yourself the gifts of reading it with an open mind and applying its wisdom to your life.
Whether you liked the book or not - HAVE A GREAT DAY!!!!
Author FAILS to prove his thesis, to put his money where his mouth is. .......2007-08-19
The author proposes that money is an illusion (agreed)and that you can create all the money you want by fully transcending the illusion. He gives a primitive method to eliminate negative beliefs and emotional charges about money --(Psycanics offers a more precise, faster, less painful and more powerful technique.) The book is well written and interesting, even plausible. The reason I fail the book with 1 star is that, at the end, the author states that it is possible to have an infinite abundance of money (one way is writing "magic" checks that are always good). However, the author apparently has never done this. He says he still has multiple streams of normal income from books and businesses and speaking engagements. Until the author proves his thesis by eliminating all human income sources and actually lives wealthy by the means he proposes, this book is just a FANTASY.
Average customer rating:
- Instant Income is right out of tomorrow.
- I beg you, Janet. Please don't publish it in Japan
- The best gift I have given myself
- If you want to make money.
- Instant Income
|
Instant Income
Janet Switzer
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover
General
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The Ultimate Sales Machine: Turbocharge Your Business with Relentless Focus on 12 Key Strategies
ASIN: 0071487786 |
Book Description
“The first strategy Janet developed for me turned a $572 expenditure into $31,000 in just six hours. Her second turned $1,280 into $105,000 in just six weeks.”-Jack Canfield, cofounder of the Chicken Soup for the Soul® book series
You've spent a lot of time, effort, and money to get where you are today. You've hired employees or established outsource relationships. You've developed products or services, advertised, sold, and delivered. Perhaps you work for a small business, sharing the owner's dream for substantial wealth. Along the way-without even knowing it-you've created something else too: marketable assets. Assets such as your relationships with suppliers, your advertising calendar, your Internet presence, your key employees, your sales force . . . and everything else that affects your business.
Instant Income is the first ever system to show you how to turn uncommon assets into income you can make and use in just hours, days or weeks-and to help you develop entirely new streams of income from unlikely sources. With Janet Switzer's proven secrets, you'll be able to
- Discover hidden pockets of potential income-at no cost to you
- Sell more to your current customers and generate new clients
- Lower costs, increase prices, and maximize profits
- Get others to do your marketing for you
- Create your own Instant Income implementation plan
This comprehensive guide is packed with ready-to-use campaigns, money-generating guidelines, do-it-yourself financial calendars, and so much more. Best of all, the purchase of this book gives you FREE full access to the Instant Income online tools. These tools include a FREE online audit, FREE sample intrapreneurship template, and FREE e-training program.
This is no ordinary how-to guide. This is Instant Income-for you, for real, for life.
Customer Reviews:
Instant Income is right out of tomorrow........2007-09-03
Instant Income is right out of tomorrow. It is the finest gift you can give to the best person, you. Taste the difference: it will stretch your mind and give you all the answers you've always wanted to know to increase your income. I highly recommend this book to anyone who wants to increase their income. It is packed full of value. You'll never find another bargain like this one.
Alex Mugume
Author: 10 Steps to Success in Love and Marriage
I beg you, Janet. Please don't publish it in Japan.......2007-09-02
I'm really glad I'm probably the first reader of this book in Japan. This book completely blew my mind.
It is the gospel for all entrepreneurs, especially for those in seminar business. The author reveals how she sold Jack Canfield's-1000USD-seminar in just six hours step-by-step. It does work especially for small business owners who're in his/her field for several years with clients' database.
This book is a too-good-to-be true gift. It's too dangerous if someone with vicious mind read and apply it. I truly hope it WILL NOT be published in Japan and my competitors in seminar business won't read it, unless I translate this book by myself, as well as all her materials and products.
The best gift I have given myself.......2007-07-10
I first heard of Janet via an invite to a seminar and thought This is too good to be true. By the time I made up my mind to join the "expensive" seminar it was sold out. Shortly after, she released this book which I immediately bought. This far, I can say it is the best gift I have given myself this year because it triggered a whole more lots of positive ramification I can't even began to tell you. Buy the book dear, buy the book; you will be glad you did. Dr. Israel King, Ph.D. Author of How To Keep A Man
If you want to make money........2007-05-30
What else can I say? I originally checked the book out from the library and after reading it felt that I should have a copy for reference. I shelled out my hard earned money to buy it. I can't think of a higher compliment.
Instant Income.......2007-05-16
I found the ideas in the book were very good yet I found the language difficult to understand and thus it was difficult to comprehend some of the concepts. Some great ideas and useful tools for small businesses, however, very much aimed at an American business community and not written in "common sense" language that anyone in any country could follow.
Average customer rating:
- Very Conservative Approach
- Good updates
- Ok
- Surprisingly entertaining
- An Investment Book for Coupon Clippers
|
The Only Investment Guide You'll Ever Need
Andrew Tobias
Manufacturer: Harvest Books
ProductGroup: Book
Binding: Paperback
Personal Taxes
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Personal Finance For Dummies, 5th edition
ASIN: 0156029634 |
Amazon.com
Personal-finance guru Andrew Tobias slams online trading and praises the Roth IRA in his newly revised The Only Investment Guide You'll Ever Need. This investment bible remains as stimulating and meaningful as it was when it was first published 20 years ago. It's packed with ideas about stocks, living beneath your means, tax planning, retirement, and just about everything else in the financial world. And all of it is presented with Tobias's trademark brevity and ingenuity.
Last revised in 1995, the guide takes aim at a new game in town--online trading. By all means, use the Internet for buying a car or for research, Tobias says. But avoid cyberspace brokers, he says. Point and click enough and you will get slaughtered by commissions, spreads, taxes, and human nature. "It's so easy to click 'OK' a few times and make a $10,000 bet," he warns. "Look how mesmerized we become on a stool in front of a slot machine. Internet investing positively teases you to play." Tobias's favorite new entry is the Roth IRA, which allows you to withdraw your money tax-free when you retire. It's far better than a traditional IRA, he asserts. "Save yourself the trouble of agonizing over the choice and go with the Roth IRA," he writes. "Forget the worksheets." Sometimes caustic and always a skeptic, Tobias believes readers can shape their own financial futures. Just stick to the basics, he says. "By and large, you should manage your own money, via no-load mutual funds," he writes. "No one is going to care about it as much as you." It doesn't matter if it's 1978, 1998, or even 2008. The Only Investment Guide You'll Ever Need still is exactly that. Some things never change. --Dan Ring
Book Description
For more than twenty-five years, The Only Investment Guide You'll Ever Need has been America's favorite finance guide, winning the allegiance of more than a million readers across the country. Now this indispensable book has been fully revised and updated-covering all the new tax laws-and reorganized with a new user-friendly design. Concise, witty, and truly understandable, Andrew Tobias shows you how to use your money to your best advantage-no matter how much or how little you have.
o How to spend smarter-and save $1,000 or more
o When to invest in stocks, and how
o The ins and outs of investing on the Internet
o Tax strategies, from tuition to retirement
o Whom-if anyone-you can trust to manage your money
and much, much more
How to spend smarter--and save $1,000 or more
When to invest in stocks, and how
The ins and outs of investing on the Internet
Tax strategies, from tuition to retirement
The basics of life insurance
Who--if anyone--you can trust to manage your money
The inside skinny on annuities, real estate, and Social Security
and much, much more
Customer Reviews:
Very Conservative Approach.......2007-10-05
A better title for this book would be " The Only Really, Really Conservative Investment Guide You'll Ever Need." In the author's preface. Mr Tobias marvels how the world has changed since the original publication in 1978. The Guide has been updated frequently so that you will not find any outdated references. In fact, you will be referred to numerous websites in the course of the author's discussions.
Mr Tobias is an advocate of "minimal risk" which is to say he thinks the majority of us would be better off saving rather than trying to get rich by investing. Well there is nothing new about that and it is presented in a flippant and I thought condescending tone.
So the first half of the book is very conservative advice although why he advocates Timber as an investment is beyond me. I think the same argument could be made for soybeans or for sod.
The second half is an excellent primer on the stock market which I feel
is worth the price of the Guide alone. I would recommend this book for anyone looking for a basic investment guide with the understanding that it is not a get rich quick reference.
Good updates.......2007-08-07
We were very pleased with the updates Mr. Tobias has made to his book. It lives up to its title. Well worth the price.
Ok.......2007-08-06
The book is decent but "A random walk down wall street" contains the same information this book does (and more). Random Walk is also written better with more details.
Surprisingly entertaining.......2007-07-19
I never read this kind of book, but since it was a gift from a family member, I thought I should skim it so as to appear to have taken it seriously. Much to my surprise, I ended up reading every word and ultimately recommending it to everyone I know. Not only is it very entertaining, but it offers extremely sound advice based on what should be common sense but is in fact sadly uncommon knowledge. I think it is the perfect first investment book for everyone, and for most people the seemingly overstated claim of the title is actually quite accurate.
An Investment Book for Coupon Clippers.......2007-07-03
If you open The Only Investment Guide You'll Ever Need, by Andrew Tobias, you will see a quote from the Washington Star that reads:
"A good primer for anyone who doesn't want to die poor."
If any succinct sentence clearly expresses my thoughts about The Only Investment Guide You'll Ever Need (TOIGYEN), it is that one. Tobias offers a prudent plan: be frugal, save and invest conservatively. This plan will undoubtedly protect the majority of people from losing their hard earned savings, thus the reference to prudence. Unfortunately I don't think most of us have prudent dreams, and that probably includes Tobias, based on some of his examples of less conservative investments in which he has partcipated. We, like Tobias, sometimes find ourselves drawn to investments that, with some of our own brainpower and personal time, offer the opportunity to squeeze a little more blood out of the financial turnip.
TOIGYEN is focused on how to save money and hold onto it. His advice with regard to how to make money is simply to let the market do the work for you. If you are patient enough and your dreams are reasonable, this just might be a good strategy for you. In other words, if you clip coupons, this is the investment book for you. Tobias shows how you can actually make a 50 percent return just by buying a particular item in bulk (in his example, a case of wine). This example shows an intriguing and creative way to look at some of your everyday purchases and the time value of money. However, when I read it, I couldn't help feeling the same as when my wife comes home with shopping bags and announces, "Honey, come see how much money I saved us." The question in the back of my mind is always: are you buying it because you really need it (and will use it) or because it's on sale (or offered with a bulk discount).
In case you couldn't tell, I'm not a coupon clipper. I chuckle when the grocery store clerk tells me that with my receipt I can save $.10/gallon and wonder how many people actually go out of their way to save that $1.50 to $2.00 on a tank of gas (provided they were lucky enough to be at the grocery store on the day their tank was completely empty). All that is to say that my goals are not achieved if I spend 30 years conservatively (and detachedly) investing and saving. Perhaps that explains my passion for investments in tangible assets such as real estate and businesses, things that offer a certain level of control and flexibility (activity) as opposed to passivity. (If you are looking for information on those kinds of investments, you won't find them in this book)
Regardless of your coupon-clipping proclivity, this book has something to offer a multitude of investors. For new investors, and those with a small amount of money, Tobias offers a simple plan that, if followed, can provide an easy-to-manage path to more long term financial security. For active investors in a market full of speculative fever, TOIGYEN is an aspirin and a damp cloth.
Jeremy Ames, Executive Editor
What this book does:
* Give a brief overview of most stock and financial derivative investment options
* Warn against taking your financial advice from those who stand to benefit from your decision
* Lay a foundation for long term investing: in the short term, the only guy who makes money is the broker (that goes for stocks or real estate)
* Offer some examples about how to teach your kids the value of money and investing
* Debunk some of the marketing gimmicks of financial services products (i.e. life insurance and annuities)
What this book doesn't do:
* Give instruction on how to trade some of your time for better returns (in fact Tobias' belief is that no one can consistently beat the market)
* Cover a range of alternative, non-stock investments (other than basic rental real estate, timber and oil & gas)
Average customer rating:
- Unlike some advisors Mr. Andrew walks his talk!
- Please be careful...
- Utter Garbage
- What your Life Insurance Agent hopes you NEVER read
- Promissing theme but not a panacea
|
Missed Fortune 101: A Starter Kit to Becoming a Millionaire
Douglas R. Andrew
Manufacturer: Business Plus
ProductGroup: Book
Binding: Hardcover
General
| Business & Investing
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Introduction
| Investing
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ASIN: 0446576573 |
Book Description
From financial expert Douglas R. Andrew comes an extraordinary book that challenges the most basic and fundamental concepts of personal investing in a user-friendly format.In the 30 years Douglas R.Andrew has worked as a successful financial analyst, lecturer, and retirement consultant, he has routinely questioned and challenged the accepted tenets of personal finance. His conclusions are absolutely startling. In 23 informative chapters, Andrew reveals his no-nonsense, yet unconventional, financial growth strategies that challenge widespread money myths and make his clients rich with advice like: * You shouldn't pre-pay your mortgage* Don't expect your 401Ks and IRAs to cover retirement* You can (and should) buy a home with no money down* and more!Originally self-published as MISSED FORTUNE (Paramount Publications, 7/03) and targeted towards a more professional financial audience, the first edition of this book sold 10,000 copies. In 4/04, it was published in Warner Business Books trade paperback (0-446-69350-2). This new hardcover edition has been significantly condensed to appeal to the average personal investor.
Customer Reviews:
Unlike some advisors Mr. Andrew walks his talk! .......2007-10-02
I have had the occasion to meet Douglas Andrew and he is his own biggest client. He seems to be one of the most straight forward, straight shooting people I have ever met. I was a stock broker with my insurance license, a mortgage wholesale rep, as well as a real estate broker and I have to say the strategies that are espoused in this book are all... right on! Hey, nothing is completely risk free but this comes close. I took my own home equity out [by selling my home] before the prices went down. I am glad I did. Most of it I will put into this strategy over the next 4 years and some will be saved for a down payment when I think housing prices have bottomed. When that home goes up I will take the equity out and start another plan like this. It makes little if any sense to have your home equity sitting there doing nothing. I mean would I leave $100K or more sitting in my checking account, earning zip? NOT! Well money that was sitting in my own home was making me nothing. It's the same to me. Hey, if I can borrow at a simple interest rate and have it accumulate and grow [even tax favored maybe] and compound over time into a large sum, I am all for it. The idea of using home equity to grow wealth is not new but until now I have never seen a strategy that I was comfortable with. This book turns life insurance upside down and shows us how to maximum fund a contract and therefore use it as a great 'living' benefit rather than buy the most death benefit for the least amount of money and possibly outlive the insurance just when we are nearing the 'benefit', if you want call it that, since one has to die to get it. But let's face it, we all need life insurance and I know no better way to have it. The way Mr. Andrew explains it, if structured properly Uncle Sam is paying for it. The strategies in this book are varied and flexible. He also shows us how our qualified plans [401K, IRA, 403b, etc] may very well not be serving our best interest. This book is a must read for anyone that is willing to think for themselves [outside the box] and especially if you have been around long enough to understand what Douglas Andrew means when he says 'sometimes it's what we don't know that we don't know that can hurt us.'
Please be careful..........2007-10-02
I think I would sign up for this if I had a lot of money and have as a small part of my portfolio - but for the most of us this would mean putting all our eggs in one basket, and not be able to take them out again.
I had 2 telephone appointments with the author's son contemplating signing up with their method. I expressed our concerns about our liquidity if another disaster of some sort happens. When 9/11 happened our income went down significantly for 1-2 years afterwards, and if it happened again we would not be able to pay the much higher mortgage we would have if we re-financed according to his plan. He swiftly explained that we would just file for bankruptcy(!). We have worked hard for ten long years putting our sweat equity into making our little house our dream home that we never want to leave - you can't buy a view like ours for a mortgage of $800/month anymore - why would we want to gamble with that?? The negative amortization loan he suggested would easily be covered by the continually rising house values here in Southern California, he explained. I protested that nothing can keep going up and up forever, and I didn't want to sit with an upside-down situation in my house at re-finance time. He didn't agree - just look at history he said - it keeps going up! Fast forward a few weeks and the whole foreclosure heaven came down, and our house is worth a good $100.000 less than just a year before...
Boy are we happy we didn't put blinders on and get too gullable!
We will find another way to provide for our retirement, thanks.
Also his projections of payouts in retirement are not adjusted for inflation so it really doesn't tell you much. $70k might sound like enough today but what will it be in 30 years...?
Please look into your options, consult a few traditional financial planners and ask them to explain the differences and in particular the high fees associated with this method. We found out that we'd be pretty well off just by investing the difference between our current mortgage payment and the one we would have re-financed to. Also have an equity line on your house and you will have the liquidity the book tells you you can't have unless you go with their method.
Utter Garbage.......2007-10-01
Every flimflam man knows that the con must be carefully layered around a kernel of truth for credibility. Missed Fortune 101 by Doug Andrew succeeds in this by wrapping a number of preposterous ideas and prevarications around three basic and true axioms. They are: (1) income is taxed in what are essentially "chunks," (2) the only relevant tax rate for decision making is the marginal rate, and (3) tremendous wealth can be created by borrowing at one rate and investing at a higher rate. Everything else in this book is not only utter nonsense, but potentially lethal to one's financial health.
The author arrives at two basic conclusions. We should borrow out of our homes and invest the proceeds at a higher rate. Universal life insurance serves as Andrew's means to this end. We should also suffer the consequences of withdrawing from our IRAs and other retirement plans now rather than later, since the tax from such withdrawals will only get worse. Naturally, the leftover funds (heavily diluted by taxes) should be invested in the same insurance policies, which supposedly offer a higher--and safer--yield than whatever the retirement plans were invested in. By page 5, I realize I'm reading a book-length sales pitch and con that has the potential to wreak havoc in my clients' lives (disclosure: I've been an Enrolled Agent tax professional and Certified Financial Planner licensee for almost three decades).
Anything this full of nonsense is difficult to critique. Short of writing a book-length retort, I've settled on the idea of listing the multitude of problems by category and providing examples from each.
A far more comprehensive review is available at my personal sites; just Google my name to find me. This is an abstract from that review. Serious readers will want to check out my books to see what links may exist between financial abuse and the field of addiction. You may wish to start with Drunks, Drugs & Debits: How to Recognize Addicts and Avoid Financial Abuse or Alcoholism Myths and Realities: Removing the Stigma of Society's most Destructive Disease.
Highly misleading examples
(2) "A $6,000 interest expense deduction on an itemized tax return has the same impact as a $6,000 qualified plan contribution. They are simply reflected in different sections of the return." Aside from numerous other issues, the tax savings from the interest deduction may be zero if you don't already itemize deductions.
(3) He implies that ordinary investors can double their money for 20 periods by comparing one dollar pre-tax and one dollar taxed-as-earned, doubling each "period" for 20 such "periods." The number of humans who have done this or something equivalent numbers perhaps a few thousand, which wasn't accomplished by investing in insurance contracts.
Faulty and twisted logic
(4) "...Your home may likely sell much more quickly and for a higher price with a high mortgage balance rather than a low mortgage balance." What the heck does the balance on my mortgage have to do with what a buyer is willing to pay me for my house?
Broad, sweeping and misleading generalizations
(2) Andrew advises that we all sell our homes and repurchase with 100% financing with the goal of freeing up equity to invest in his recommended universal life policies. He ignores the higher interest and property mortgage insurance costs on such loans, overlooks possible increased property taxes and disregards fixed transaction and moving costs.
(4) "Unfortunately, non-spouse heirs far too often end up with only about 28 percent of the money that was left in their parents' IRAs and 401(k)s." This is scare-mongering.
Questionable predictions and grand assumptions
(3) "Conservatively, [our cozy retirement] cabin will double in value every ten years..." and our $100,000 cabin will be worth "$800,000 in thirty years." Very few areas in the country even during the late real estate boom of the last three decades have done that well. What would qualify as "aggressively"?
Assertions and generalizations that may be lethal to your retirement
(1) "Home equity has no rate of return when it is trapped in the house..." This is outright nonsense. The return is what you save in interest or rents.
(5) He concludes that if not done before, "roll-outs" from IRAs commence at age 59 ½ over a five year period and that some younger people under age 50 should commence withdrawals despite the imposition of early withdrawal penalties. The value of tax-deferred growth is ignored, as is the fact that "repositioning" of funds shrink the amount available for investment by the tax paid, which greatly distorts his calculations.
Inane or incorrect assertions
(2) He states that the interest on an equity line used to purchase universal life insurance from which you contemplate borrowing is deductible. Under IRC section 264(a)3, it isn't).
Sloppy editing of facts
(2) "One requirement [for withdrawing tax-free income from a Roth IRA] is that a distribution may not be made until at least five years after the first contribution is made." This is incorrect. Principle contributions, which are withdrawn before earnings, can be taken at any time at no cost in tax or penalty.
Poor writing and berating of those who disagree with him
(2) "There are two ways to handle information: ignore it as false or increase your level of understanding to accommodate new ideas." Obviously, we are supposed to accommodate his ideas or we're complete idiots.
(3) There are probably hundreds of examples poor writing. "...Premium payments can be varied, fluctuated, and adjusted according to circumstances..." should be, simply, "Premiums can be adjusted."
Throughout, Andrew uses variations of the typical bunko-artist salesman ploy: scare you into agreeing to do whatever he says because life will be filled with disasters if you don't. On the contrary: your financial life will likely turn into a catastrophe if you do.
What your Life Insurance Agent hopes you NEVER read.......2007-10-01
When did Life Insurance become a good Investment?
Did they stop charging those 90% plus commissions on target premiums?
When did the Life Insurance Agent become a charitable organization?
Anyone who is believing this so called NEW way of thinking is either really bad with math or simply does NOT understand Life Insurance. There is a REASON you don't see REAL professionals using this concept they KNOW the TRUTH!!!
What is the ROI on my home Equity? MORE THAN ANY LIFE POLICY!!!!
After you learn how to subtract out all the commissions and fees, then the REAL cost of the death benefit, loan fees for your house loan fees for the life policy let's sit down and compare which approach works best. Having my house free and clear with NO COMMISSIONS to pay, no loans, and no INCREASING internal costs for the life insurance will BEAT any Life Policy I GUARANTEE IT!
Here is a shocker to reality. If you bought into this BS and mortgaged your house and placed the money into a life policy order a current statement for your policy showing the SURRENDER CASH VALUE in the first year, HOW MUCH did you LOSE? Then look at the 5th year how much have you LOST? Tenth year? Do the REAL MATH find out the REAL FACTS.
LIFE INSURANCE is one of the HIGHEST commissioned products in the financial industry if not the HIGHEST FACT! Where do you think that money comes from, YOUR POCKET. 90% first year target premium commission and then about 6% commission each year thereafter. Do the math if the insurance company is paying out 90% of the first year target premium in commissions and 6% each year how long does it take for YOU to make MONEY or even breakeven on your so called investment? It will take OVER 20 YEARS!
Here is a little KNOWN FACT there are currently MANY so called experts out there today TRAINING for a large fee many other life insurance agents and mortgage brokers how to SELL LARGE COMMISSIONED life insurance policies. They don't care if you need a policy or NOT they only care about SELLING a policy. Check the facts. Some are even paying for cruises for Seniors then encouraging them to apply for insurance. IT IS HIGHLY PROFITABLE to someone BUT NOT YOU the policyholder.
You will see many lawsuits in the coming years from these abuses when the you know what finally hits the fan.
By the way did you know that it was illegal for you stock broker to encourage you to take out a mortgage to buy an REAL INVESTMENT? It should also be illegal for Insurance Agents but it's not, well not YET, time will tell.
I wish more people would ask the harder questions before believing this new line of BS.
FACTS: Insurance agents make about a 30-50% commission on term life insurance and around 90-95% commission on whole life products. Keep in mind that this is the first year commission on the premium and subsequent year commissions are much lower with an average of 6% per year for whole life products and 4% per year on term life insurance products.
One of the great problems with whole life is only an expert can tell if a policy you own or are considering will ever become a decent investment. James Hunt, actuary for the Consumer Federation of America, who has analyzed thousands of policies, notes that whole life policies hardly ever yield a reasonable return unless held for 20 years or more.
So if you buy one be prepared to pay into it for the very long haul.
The key to a whole life policy is its internal rate of return -- the yield on the policy after all fees and charges are subtracted. A competent analysis can determine at a minimum whether the weight of the fees and charges built into one of these policies will ever allow a worthwhile return. Such an analysis will also pinpoint the minimum amount of cash value that you can derive from a policy at any given time interval.
Some financial planners, actuaries and accountants can perform internal rate of return analysis on your policy. The Consumer Federation has a service that will do this, calculating the real return year by year and comparing it with other investments.
Promissing theme but not a panacea.......2007-09-30
Folks, this book will not apply to most readers.
I really wanted to understand and believe the method of this book because I certainly could benefit from it. The theme is to extract equity from your home(s) now before the bubble deflates. Then you invest it into insurance products for a guaranteed return. The whole book builds the reader up to find that magical solution, which climaxes at the end with a table of financial calculations.
Here is the problem with this method. His base figures are unrealistic to start with. Current rates for equity extraction (home loan/credit or refinance) are *higher* than what he uses in his tables. The returns from a fixed insurance contract are much *lower* than his tables. If you plug realistic figures into the calculations you will see this method barely makes sense.
There are many huge disadvantages to this method. First the upfront and yearly fees are so expensive it does not make sense to withdraw your money for at least 6 to 7 years should you need it. Second, you are paying a price for the guaranteed fixed return in the term of management fees which lower your return. If you invested in a regular taxed mutual fund, over a long period of time you will always do better than the insurance fixed return. Third, insurance contracts are not wise vehicles for passing on wealth to beneficiaries. Sure there is a payout, but should you live far past your average life expectancy, the majority your accumulated funds go into the insurance company's vault forever! Fourth, the method mentioned in the book is convoluted and is in part based on a series of tax loopholes. That means, as the author does acknowledged, the legality and advantages may change or vanish over time.
With all these drawbacks, why was the book written?
This book is essentially a sales pitch disguised as a presentation of logic and calculations. But as mentioned, the figures used for the foundation of the calculations are simply not realistic.
Financial planners make their biggest commissions on insurance products. The author is a financial planner.
Most financial gurus (Susy Orman, etc.) dislike insurance contracts and advise that individuals plan their own investments.
However, for those who would like a lower fixed return for a price and are less concerned about passing on their wealth to beneficiaries, this method could possibly apply.
Average customer rating:
- You Cannot Read This Book Soon Enough!
- A Good Reality Check
- Disappointing book, doesn't live up to its title
- rethinking money
- Jewels Among Feces
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Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence
Joe Dominguez , and
Vicki Robin
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ASIN: 0140286780 |
Amazon.com
There's a big difference between "making a living" and making a life. Do you spend more than you earn? Does making a living feel more like making a dying? Do you dislike your job but can't afford to leave it? Is money fragmenting your time, your relationships with family and friends? If so,
Your Money or Your Life is for you.
From this inspiring book, learn how to
- get out of debt and develop savings
- reorder material priorities and live well for less
- resolve inner conflicts between values and lifestyles
- convert problems into opportunities to learn new skills
- attain a wholeness of livelihood and lifestyle
- save the planet while saving money
- and much more
Book Description
Find financial freedom in the new millennium with a new edition of the life-changing national bestseller
More than three-quarters of a million people everywhere, from all walks of life, have found the keys to gaining control of their money--and their lives--in this comprehensive and revolutionary book on money management. Considered the bible of the voluntary simplicity movement, Your Money or Your Life is now updated with a new Preface, Index, and Resource list to help you put the program into practice. This simple, nine-step program shows you how to:
* get out of debt and develop savings
* slow down the work-and-spend treadmill
* make values-based decisions about your spending
* save the planet while saving money
* Over three years on the Business Week bestseller list
* Your Money or Your Life made all major bestseller lists in hardcover and paperback, including the New York Times, USA Today, Business Week, Publishers Weekly, and Washington Post
Customer Reviews:
You Cannot Read This Book Soon Enough!.......2007-10-06
This book did a wonderful job of orienting me financially so that I could visualize where I was at financially and what I would have to do to have the kind of future that I wanted. In my case, I wanted to retire in my fifties to pursue my own interests. For me, working for others was just a way to make money to support my family, etc. Anyway, I read this when I was in my early forties, and I managed to retire in my late fifties. There were some fortuitous events that helped me along, but I give Joe Dominguez most of the credit (along with what retirement savings we had already accumulated).
This is not the best book for learning the essentials of how to invest and what not. The author's advice in this regard is probably too conservative. He advocates investing in treasury bonds only, and regards the stock market as too risky. Conventional wisdom is that investing in such bonds only is also inherently risky, and that you need to diversify among asset classes to control risk. However, it is unlikely that anyone I know is going to retire due to a "great year in the market". And of course, me and my friends that looked at the 20% a year (or greater) returns in the wild and wacky 90's and assumed that was the norm, either learned from guys like Joe, or we learned the painful lessons that so many before us have learned when the market melted down. The author's use of the long bond as a safe return is right on. Today, to enjoy a retirement income of $40k, you need about $800k invested, just not all in bonds.
You can readily find books that explain modern portfolio theory in easy to understand language. This book, with its simple planning and tracking exercises, has helped me to no end in understanding why I spend money, where I spend it, and how to get it under control. And the long term planning exercises, and the author's whole point of view on the subject, are priceless. I was so excited after reading this book, that I bought copies for my children (who were young adults). Their books went unread, but I am going to read it again. There has always been an extra copy around the house--one of the fortuitous events that has helped me along.
A Good Reality Check.......2007-10-06
I first read this book about ten years ago when I was working hard and watching the money go out faster than it came in. It was a great reality check on my life. Older now, and rereading it today it is still inspires me. It makes a perfect gift for younger people who are confused about the lack of personal satisfaction in their lives.
The basic premise that this is your life and you choose how you want to live it is its defining characteristic. The rest of your life flows from that. Acknowledging what has meaning for oneself and then directing one's actions to those ends can get lost in the day to day need to "earn a living."
It covers well the nuts and bolts of making these choices and giving you tools to enable accomplishing them. It is a little simplistic and conservative financially but given that it was written before the growth of the online economy it can really get you started.
Taking charge of one's life, not going with the flow, climbing up the corporate ladder, working at a job that is meaningless is well addressed. The next step is choosing how to live a meaningful life and examining other choices.
A book that has been helpful to me in this area is Internet Riches: The Simple Money-making Secrets of Online Millionaires, by Scott Fox. This book is a detailed practical guide to building an online business, full of strategies and thought-provoking ideas. Like Your Money or Your Life, it talks of building a life that is meaningful and gives you up-to-date tools for financial independence through self-employment.
Your Money or Life stops you in your tracks with its challenging thesis and Internet Riches gives you a new roadmap for implementation. Both are useful books with a positive message.
Disappointing book, doesn't live up to its title.......2007-10-04
I was shocked to discover they recommend investing only in bonds. Also their claim that inflation does not exist is bogus.
I can't believe they would recommend you quit a full-time job which usually has benefits to find part-time work which usually does not provide benefits. Have you tried buying your own health insurance? I have and it is not cheap. Sure, you get more time to yourself, but at the same time your earnings go down your insurance expenses go up. If you hate your job anyway you might consider doing this, but I don't see how they could recommend this in a general sense as a path to financial independence. The numbers don't add up.
While I think their advice to live within your means, make a budget, know where your money is going, calculate your net worth is all good, I think they have gone off the deep end on some of their other recommendations which makes me highly suspect of the book as a whole.
rethinking money.......2007-08-24
This book made me rethink how money works and how it can work for me. It is a reality test for how we really spend and it coaches you on how to get in control of your money instead of letting it control you. I reread this every once in a while to reset my financial vision.
Jewels Among Feces.......2007-07-29
Occasionally a book will appear on the scene that embodies the written equivalent of jewels among feces. This book represents such an example. I found it both enlightening and infuriating at the same time. I only read it back in late 1999 because I received it at no charge as a bonus "best seller" for joining a book club.
The philosophy of the authors, Joe Dominguez and Vicki Robin, amounts to a leftist, anti-capitalist, pro-environmentalist screed. They explain how the Protestant work ethic advocates joined forces with the captains of industry to dupe us all into devoting our lives to the dirty task of making money. They did this so we could load ourselves with products and services we do not need and cannot afford. Captains of industry profited from this arrangement. Since "idle hands are the devil's workshop," Protestant work ethic advocates did their part to promote it so as to keep us busy and out of trouble. The authors document how the growth of capitalism has damaged the environment, devastated communitarian spirit, and wrought a host of other social ills. This attitude permeates the entire book.
Those who grasp Objectivism, the philosophy of Ayn Rand, understand the foibles of these arguments and their refutations and I will not repeat them here. I only want to note that despite these failings, this book does warrant a read for the simple reason of its clearly elucidated full cost accounting methods. These methods include carefully evaluating the cost of every new purchase in terms of continued upkeep as well as that so-called "job opportunity" that can actually leave you poorer after accounting for additional costs of fuel, wardrobe, etc. In conjunction with my article "Experiencing Objectivism through Quicken," which you can read via a Google search for that exact phrase, this book can put the reader well on his way to a firm grasp of his cash flow and how to align it with his core values. Just bear in mind that the core values of an Objectivist will arise from a different philosophy than the core values of the authors!
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