Amazon.com
Worried about debt? Are you thinking about investing in a remodel on your house? Looking to invest your retirement in mutual funds? Or are you about to set up a custodial account for your kids? If you are, Jonathan Clements's book, 25 Myths You've Got to Avoid If You Want to Manage Your Money Right, couldn't be a timelier read. Clements, a columnist for the Wall Street Journal, picks apart long-standing myths of how you should manage your money and offers a set of sensible financial tips designed to help you sleep better at night.
Book Description
STOP THINKING ABOUT MONEY IN THE SAME OLD WAY
Have you ever been told that you can't go wrong with mutual funds? That stocks are risky? That you should take out the largest mortgage possible? That life insurance is a good investment? That you should keep six months of emergency money? These myths and more are shattered in 25 Myths You've Got to Avoid -- If You Want to Manage Your Money Right. Each of the book's twenty-five chapters tackles a cherished money myth, first telling you why it no longer works and then showing you how to do it right. Along the way you will learn winning strategies for investing in mutual funds, building a portfolio, saving for retirement, paying for college, buying a house, preparing for financial emergencies, selecting insurance, and planning your estate.
The result? Instead of the predictable compendium of tedious advice tossed out by most personal-finance tomes, Clements's book offers a witty, fast-paced journey through today's treacherous investment world. Amusing and irreverent, here is an intriguing and accessible approach to personal finance.
Customer Reviews:
Funny, irreverant, unabiguous.......2007-04-15
The rules HAVE changed. What worked in the 70s, 80s, 90s - and those rules were all different - won't work now. Get rid of your financial anxiety - Jonathan tells you how to buy a house that you can pay off, buy index funds, be 100% invested in stock index funds, be smart about insurance and sleep like a baby at night. None of this is new stuff. What is new is the clear, concise writing and the insight that what we do next is based on today's and tomorrow's rules.
Great common sense guide for the individual investor.......2007-01-10
I religiously read Jonathan Clements' weekly column in the WSJ. I find his advice spot on for the individual investor. This book is a pragmatic discussion of several basic investment topics and has provided invaluable information for non-finance types such as myself (I'm a CIO). I recommend it!
Solid Introduction To Personal Finance.......2002-10-01
"25 Myths You've Got To Avoid If You Want To Manage Your Money Right" is a great personal finance book. The book gives a solid overall philosophy to managing your money. It's probably best for new to intermediate investors.
Each chapter begins with an investment or personal finance myth. Clements explains where each myth goes wrong and concludes each chapter with new rules to replace the myth.
Clements discusses the myth that you should invest in bonds for income. He says that investors love bonds because they love income. But, Clements says that investors loving bonds is a "masochistic relationship" when we factor in all of the negatives of bond investing.
Clements explains that the callable feature of bonds means that if interest rates drop significantly, bonds will probably be called in, depriving investors of the desirable and higher interest rate on their existing bonds. But, if interest rates shoot way up, the bonds won't be called in, and investors will be locked into receiving a low rate of return. Clements says that the call feature of bonds is a case of "heads I win, tails you lose."
And, as much as investors love bonds, Clements notes that the taxman loves bonds even more. After factoring in taxes and inflation, Clements shows us that bonds are a dismal investment. (Especially when we toss in default risk and interest rate risk). The chapter about bonds is particularly good and will give investors much to think about.
So, what about investors seeking income? Does Clements go along with the "No problem. Just sell some shares when you need some money" crowd? No. Clements realizes the inherent risk in needing to sell shares for income. The market might be down, and you could take a clubbing.
Clements explains that stocks or mutual funds holding stocks "are your portfolio's engine of growth. Everything else is there to reduce risk, so that you won't get unnerved by market swings and can tap your portfolio for spending money without selling stocks at fire-sale prices."
So rather than following the conventional advice of holding a portfolio balanced between stocks and bonds (usually 60% stocks and 40% bonds), Clements suggests investors consider holding a portfolio of 25% cash and 75% stocks. I strongly agree that this is something to consider.
Ultimately, Clements tells us that it's our asset allocation which will determine the long-term rate of return our portfolio achieves. Rather than holding a portfolio composed of only 50% stocks and then trying to seek the next Microsoft, investors would probably do much better holding a higher percentage of stocks and foregoing the search for the next big winner.
Clements says it's a myth that you can beat the market. In addition to not liking market timing, he doesn't believe in sector rotation, or individual stock selection. Further, Clements doesn't tend to like actively managed mutual funds. Because Clements is of the earliest columnists to cover the mutual fund industry for The Wall Street Journal, we should probably listen when he gives mutual fund advice.
What typically happens, Clements explains, is that a superstar fund manager hits a streak. This might be due to his or her investing style coming into favor or it might be due to luck. Then typically the public relations department of the money management firm kicks in and the money under management balloons. Ultimately, the fund returns to moderate performance or bombs entirely. The superstars reputation fades away. A new superstar at another fund is born.
Clements has seen too many superstar fund managers wipe out to believe it's worth his time seeking the best mutual funds among the several thousand existing funds. He recommends indexing your stock market money among larger U.S. stocks, smaller U.S. stocks, and foreign stocks.
Clements includes a good discussion of the controversy surrounding whether to invest all of a lump sum at once or whether you should dollar cost average it into the market. He prefers dollar cost averaging it into the market as a means of reducing risk. Rather than aiming for the highest possible return, we want to minimize the risk of losing capital.
Clements says we probably won't get a 10% rate of return on our investments and that the new "Disney World for the post-teen set" is using compounding calculators, plugging in estimated rates of return, to calculate how large their retirement nest egg will be. Considering inflation, Clements corrects us showing that, due to inflation, the real return on stocks is closer to 7% a year. Those compounding calculators are fun, aren't they?
I disagree with some of Clements' advice. What he says about building a credit cushion rather than holding excessive savings in a low-yield, money-market fund is good. But, I'd much rather count upon a home equity line of credit than a (gulp!) margin account at a brokerage, which he suggests as an option.
Clements also suggests that if you're wealthy you probably don't need umbrella liability insurance as you can self-insure this risk. He says the same about health insurance. How rich is rich? We're not talking $5 million here. I'd recommend retaining both health insurance and umbrella liability insurance regardless of your wealth. But, as Clements says, you probably can forego termite reinfestation insurance. You can absorb the cost of annihilating the little bugs yourself.
Finally, "25 Myths You've Got To Avoid If You Want To Manage Your Money Right" has a great discussion of why you might not want to max out your (non-Roth) IRA, but consider holding a global index portfolio in a taxable account instead. In addition to not having access to the money for a long-time, you're converting capital gains into more heavily-taxed income with the non-Roth IRA.
Peter Hupalo, Author of "Becoming An Investor"
Good, Logical Recommendations -- Quick Read.......2002-06-20
This book covers the 25 myths about managing money. What makes this book better than others is that it gives you the background logic behind the decisions. For example, the author discusses the myth of buying the biggest house possible and why this mindset was successful in the 70s & 80s (and could be again) but isn't a good idea in today's economy. The author further shares the "forumula" behind the logic -- inflation rates, present/future value of money, and lost opportunity.
The 25 Myths are nothing surprising, but you will find that the logic is refreshingly simple and easy to apply to your financial situation.
Has your portflio really out-performed Index Funds ?.......2002-05-30
The author definitely beats home some basic messages about inflation, tax implications and trading costs that might be old news to some seasoned investors. He loves stocks and hates bonds. The most important thing I took away from this book was that even if you manage to pick a mutual fund that beats the S&P over a 30 year period, the costs incorporated into even no-load mutual funds can eat away at what little gains you might make over indexes. His remedy: Invest in stocks for the long term (nothing new here) and diversify your portfolio with the cheapest domestic and international index funds you can find. He recommends Vanguard's Total Stock Index Fund and Vanguard Total International fund.
I read the book in the spring of 2002, which makes some of the information in the 1997 printing I had a bit dated (e.g. no 529 tax deferred education savings plans). If you're looking for a more updated version with a lot of the same ideas, try Glassman's Secret Code of the Superior Investor.
Book Description
In his new book, "I GOT HERE. YOU CAN TOO!", Bruce lets you in on the means and methods that he and almost every successful entrepreneur must know in order to break the "Million Dollar" barrier. Bruce A. Berman takes his hard earned, wealth building, business lessons and encapsulates them in language that is direct, to the point and easy to follow. When you have finished reading it, you will know the hidden secrets that rich people all over the world know and utilize to make millions of dollars...and keep it!
Customer Reviews:
dont waste money it is free online and worthless.......2006-09-29
Honestly...dont waste your money. First of all it is free online if you request it from his website and it is worthless. All you will get out of it is learning about how this guy barely finished highschool and made his millions scamming people with a complete lack of information in his books. Oh and he will try to sneak in all his CDs then charge you for them after 30 days. Complete garbage. Coveat Emptor
TOTAL FRAUD.......2006-03-04
I happen to know this author from his early escapades, and he was well known among his friends and acquaintances as a greasy con man -- hence his bankruptcy early on. For kicks, I got his book and confirmed that it is as worthless as the man himself. He's a total fraud, and if you want to do worse than waste your money you'll buy his book instead of applying yourself with truly worthwhile business ventures. Buyers beware -- avoid at all costs!!!
Robert Long
I Returned this worthless rag.......2005-10-27
I have read numerous wealth-building books. This one is worthless. It appears to be a hastily written collection of his personal stories which may or may not be applicable to you. He in several instances tells you how to bend the rules precariously, such as moving to other states to avoid bankruptcy and also tells you how to perform deceptive marketing. I have never, honestly never, felt so scammed by a book purchase, and wish I could give negative stars to warn the reader away.
LIKE AN INFOMERCIAL.......2005-10-21
This book is an intro to writing business plans filled with examples, but not saying very much.
It's like being able to read the script of an early morning infomercial in your hand and every bit as worthwhile. Some of the stories can be construed entertaining or inspiring, but relying upon Bruce Berman to get you started would be unwise.
Help is on its way.......2005-03-16
I was given the book from a friend of mine. My business just failed and the creditors were moving in fast. I folowed Bruce Berman's advice and was able to renogiate with them and keep my business open. It has only been three months and we are now running at a positive cash flow. I was going to put it up for sale on Amazon but decided to keep it in case I need to refer back to it.
Book Description
You and Money is about you and your relationship with money. It is about encountering scarcity and abundance on your hero's journey. It is about how you use your energy when receiving, spending, earning and thinking about money. Each of us wants the best possible relationship we can have with money. This book is about having what you truly want in life by gaining clarity for ease on your path, empowering you to attain your fondest goals and dreams. This is not a book about managing your finances, although you will probably manage your finances better. More than that, it is a powerful tool for your life's goals and dreams and living life authentically. Money, time, love, physical stamina and spiritual inspiration are all forms of energy here for you to use to make your dreams come true. When you shift your relationship with money from scarcity to abundance, you will discover ease with all other forms of energy. Your hero's path will be about going toward what you love, rather than what you fear.
Customer Reviews:
This book changed my life........1998-08-31
You and Money by Maria Nemeth, a respected clinical psychologist, is a complement to her widely-acclaimed course "You and Money". I took the course and read the book. In both, Nemeth talks about a "hero's journey" as you explore your relationship with that form of "congealed energy" (Joseph Campbell) known as money. Nemeth clarifies that it's your "monkey mind" and "basic assumption" which get in the way of realizing your goals and dreams, and how to deal with them. Your whole attitude towards money is altered by the experience. And...at last, a way to recognize what is holding you back. Read it, take the course, you'll be a changed person!
Book Description
Powerful, yet fun to read, this book shows how you can win at the game of love and money. It's filled with proven principles of money management and provides you with practical step-by-step tools to uncover the deeper, often hidden meanings of money and conquer the problems it raises in your relationship. And, it's from a male and female perspective!
Customer Reviews:
Healed our house!.......2003-01-04
This book was so informative and fun!My co-partner and I could not seem to figure out who pays for what, so I made him read the book with me!! Now we have our bank accounts in order and are saving for a house. I recommend this for my single friends too!
Average customer rating:
- Outstanding and entertaining source of information
- VERY PRACTICAL, SMART AND HIP ADVICE
- Like advice from a trusted (and witty) friend
- Well-written, comprehensible, entertaining.
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Got Money?: Enjoy It, Manage It--Even Save Some of It--Financial Advice for Your Twenties and Thirties
Jeff Wuorio
Manufacturer: AMACOM/American Management Association
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Debt-Free by 30: Practical Advice for the Young, Broke, and Upwardly Mobile
ASIN: 0814480098 |
Amazon.com
Informed sources report that today's young people are more interested in money management than their predecessors--but on the whole remain frighteningly ignorant of the specifics involved. Got Money? Enjoy It! Manage It! by personal-finance writer Jeff Wuorio is a sassy but smart compendium of relevant advice for those in their 20s and 30s who would like to buck that latter trend. After addressing everyday fundamentals, including budget setting and bank shopping, it concentrates on more advanced aspects of individual economics, such as debt, investing, retirement planning, home buying, securing financial assistance, utilizing electronic resources, and preparing for taxes. It also contains tips on such frequently overlooked cash-saving practices as reworking onerous student loans, finding and acquiring adequate renter's insurance, and buying household staples in bulk. "Making the most of your money is not as complicated as particle physics," Wuorio writes. "Granted, some things are more complicated than others, but the lion's share of basic financial ideas and principles are within the intellectual reach of anyone." His book synthesizes a wealth of solid information into one handy resource, and does so in a way that newcomers to the world of finance and investing can easily understand and readily utilize. --Howard Rothman
Book Description
For all those young professionals who must now do more than manage their milk money. They're smart. They're talented. They're ambitious. They're the next generation of movers and shakers--destined to rule the new millennium. But when it comes to financial fitness, they're clueless. It's sad, but true; many bright young professionals are completely in the dark about basic money matters.Which is exactly why they need to get GOT MONEY?
This lively financial primer gives readers a genuine financial education (something most schools don't), taking the headaches out of money management, and providing guidance along the path to financial solvency. Broad in coverage and irreverent in style, GOT MONEY? goes far beyond the scope of the dry-as-dust, run-of-the-mill financial book. It shows readers how to: * Set up a budget that's realistic--not masochistic * Find an affordable--and livable--apartment * Shop for a mortgage * Shake off the shackles of student loan debt * Negotiate a salary * Actually find money to invest and then choose wise investments * Control their credit card spending--instead of letting it control them (or why plastic isn't so fantastic!) * Trim their tax bill--without resorting to tricks * Put their money where their technology is--tips for shopping, banking, and investing online (including a listing of web sites where readers can access reams of up-to-date information).
As if that's not enough, GOT MONEY? tops it all off with a list of 10 financial follies that readers should absolutely never ever--under any circumstances--commit.
Customer Reviews:
Outstanding and entertaining source of information.......1999-10-17
Got a degree? Got a family? Got a life? Then by all means, you need got money?
This entertaining, informative book is a lifelong resource of financial information not only for those in their twenties and thirties, but for those of us for whom thirty is but a distant memory. Written in a friendly, open style, reading got money? must be what sitting down and talking to Jeff Wuorio is like. From interest rates to bonds, stocks, budgets and home ownership, this book is chock full of information and handy websites for further research that is sure to become a critical reference for years to come. Of special interest are the tips on budgeting and saving for the future. Personal anecdotes further enliven the book, and one comes away feeling not only well informed, but awed by the wealth of knowledge that Mr. Wuorio possesses. It is clear from reading got money? that getting money and being successful in saving, managing and using it is not just for the well-heeled or the older generation. This book is number one on my list of holiday gifts for all the young people in my life.
VERY PRACTICAL, SMART AND HIP ADVICE.......1999-10-16
Wuorio offers advice on most every aspect of a person's financial profile; credit cards, cars, homes, investments --- but does so in a straight forward and humorous manner. It was actually FUN and informative to read this book and I know that I'm more armed to make smart decisions on a myriad of money choices
Like advice from a trusted (and witty) friend.......1999-10-02
Reading "Got Money?" is like sitting down with a friend and chatting about money--provided that friend is funny, lively and knows nearly everything about budgeting, insurance and 401k's. Whether giving advice on getting out of debt or explaining the intracacies of investment, Wuorio shows he has done his homework, and is anxious to share that information with 20- and 30-somethings. And like a trusted friend, Wuorio doesn't claim to be the final word on any topic, but ably directs readers to useful Websites for additional information. In short, this book is what every book on financial advice should be, but most aren't: practical, direct and -- dare I say -- enjoyable reading.
Well-written, comprehensible, entertaining........1999-09-21
Wuorio's book on financial planning advice for people in their twenties and thirties is an indispensible read in this era of day-trading and get-rich-quick schemes. He offers a balanced and easily understandable approach to something we're all interested in: money, and how to keep more of it. Wuorio writes smartly and with humor and offers solid advice that will still make sense in the days when everyone's dog has stopped buying and selling stock over the internet. This is a must read-- one of the best investment books to come out in years!
Average customer rating:
- Fun & True
- Loved This Book
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All I Ever Wanted Was a Lot of Money and a Husband: Instead I Got Enlightenment
Catherine Lenard
Manufacturer: Your Hand's in the Inc.
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Binding: Paperback
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ASIN: 0965769232 |
Book Description
For anyone who has ever wondered, “Why me, Why this, Why bother, How come . . ? ”
With Hurry Up Speed Up being the order of the day, many of us are wondering about the meaning of it all. These questions live within us as we search for ways to find peace and purpose. As part of that search, there is an increased need for relief, for refuge, for something! The “something” that can be discovered and learned within everyday life experiences.
The book, All I Ever Wanted Was A Lot of Money And A Husband Instead I Got Enlightenment, by Catherine Lenard, provides that “something.” It's an easy, journal-like, compellingly entertaining read which chronicles the ups and downs of an all-out search for happiness through money, career and relationship—subjects most can relate to! Universal wisdom through lessons learned, and “otherworldly” experiences that occurred throughout The Search, are included in each of twenty-seven illustrated mini-chapters.
Through Lenard's striking honesty and humor, which pokes fun at life experiences with a sincerity that earns her respect, readers can recognize, understand, and apply this wisdom for personal enlightenment regarding their own life's events.
Customer Reviews:
Fun & True.......2000-07-07
I happened to stumble upon this book and the title intrigued me. Found the book enlightening, entertaining and uplifting.
Loved This Book.......2000-07-01
I loved this book...I read it after meeting the author at a Spirit Encampment three summers ago. I found her to be a geniune person, with keen perception and "Insights". Her book is as deliteful as the she is.
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Escape From Debtors Prison : Got Money?
Rachelle Potts , and
Tyrone Potts
Manufacturer: El Shaddai
ProductGroup: Book
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ASIN: 097017800X |
Book Description
"Got MONEY?" is the first book in the "Escape From Debtors Prison" trilogy. In it we address the 8 ways we obtain money (earn, inherit, win, find, beg for, borrow, steal or invest) and the benefits and drawbacks associated with each method. We provide a case study in debt counseling and an overview of wise investing considerations. We teach people to work smarter, not harder. Most people spend much time working for money and very little time making their money work for them. We provide practical guidance to end this vicious cycle. Finally, we address the tragic fact that, too many people work jobs/careers they hate. We provide tools to help individuals identify their gifts/talents, in order that they may "live life on purpose." (not just based on financial predicaments) This book provides a solid first step down the road to financial freedom. If you would like to retire early, like the authors did, (in their early 30's) this book will encourage, inspire and challenge you to "Set yourself up for success."
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got money?
Marlene Miles
Manufacturer: Bookman Publishing
ProductGroup: Book
Binding: Paperback
ASIN: 1594535892 |
Customer Reviews:
Avid Reader.......2006-03-10
This is a great book. Dr. Marlene Miles is the same author, Dr. E. Marlene Hunt who has many other books that I also own and have read. Her many other books are available on this site, as well.
Got money? is easy to read, simple to understand, but deep in revelation. It improved my understanding and also impacted my life from finances to emotions--, HIGHLY RECOMMENDED.
Book Description
Dr. Wayne W. Dyer, the internationally best-selling author and lecturer, has written a new book in his series of inspirational books for kids. You're Not What You've Got addresses the topics of money and abundance, with the understanding that children’s earliest thoughts and perceptions about money are those that will last throughout their lives.
The concepts presented in this beautifully illustrated book include: Money does not define who you are; it doesn't matter what others have, and abundance comes in many forms. Unlike most books on this subject, You,re Not What You've Got is not a how-to manual on spending and saving for kids, but rather a positive, spiritual approach to the meaning of money.
Books:
- Accounting for Governmental and Nonprofit Entities with City of Smithville
- An Introduction to Credit Risk Modeling (Chapman & Hall/Crc Financial Mathematics Series)
- Angel Investing: Matching Startup Funds with Startup Companies -- A Guide for Entrepreneurs, Individual Investors, and Venture Capitalists
- Bank Management
- Best Practices in Leadership Development and Organization Change: How the Best Companies Ensure Meaningful Change and Sustainable Leadership (Essential Knowledge Resource)
- Best Resumes for Accountants and Financial Professionals
- Business Analysis and Valuation: Using Financial Statements, Text and Cases
- Business Fairy Tales
- Client at the Core: Marketing and Managing Today's Professional Services Firm
- Computer Accounting with Peachtree Complete 2006, Release 13.0 with Student CD-ROM
Books Index
Books Home
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Funding Your Future: The Only Guide to Mutual Funds You'll Ever Need
You've Lost It, Now What? How to Beat the Bear Market and Still Retire on Time
All About Asset Allocation
The Bogleheads' Guide to Investing
Winning the Loser's Game
