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.
Customer Reviews:
Terrible waste of paper.......2007-07-04
This is the worst nonfiction book I have ever read. There is absolutely no useful information in here unless you are a complete idiot. If you are, (1) don't get yourself into debt, (2) put money aside to earn interest, and (3) don't waste money. That is all this book really says, repeated and reshaped in order to make 100 rules and to cover a couple hundred pages. Each rule also has a sentence repeated and emphasized in a gigantic font and all caps to drive the point home, except the sentence often sounds idiotic out of context.
Examples:
"A BALANCE SHEET HAS TO BALANCE."
"I WOULD COOK A THIN AND SICK-LOOKING CHICKEN WITH CHEAP WHITE WINE AND SHE WOULD PROVIDE LOBSTER AND CHAMPAGNE."
"I REALLY HOPE MY SONS DON'T READ THIS, OR I'LL BE CORNERED IN MY HOME LIKE A RAT"
"I'VE ALWAYS HAD MY DOUBTS--AND THIS IS ENTIRELY SUBJECTIVE, ENTIRELY PERSONAL--ABOUT SUPPORTING A PENGUIN."
That's right, you get all of those gems plus 96 more, each surrounded by a box that fills up half of the page.
Besides the book being 90% filler, it feels rushed. The author must have been just writing whatever came to mind as he went even if he was repeating a previous point, without doing much editing, and he repeated himself a lot too. However to break up the monotony he did make sure to add plenty of bulleted items. Those had the added benefit of filling more space with very little writing! There were also some obvious typos and an entire paragraph that was duplicated that somehow nobody noticed.
Besides the book being 90% filler, it feels rushed. The author must have been just writing whatever came to mind as he went even if he was repeating a previous point, without doing much editing, and he repeated himself a lot too. However to break up the monotony he did make sure to add plenty of bulleted items. Those had the added benefit of filling more space with very little writing! There were also some obvious typos and an entire paragraph that was duplicated that somehow nobody noticed.
Seriously, that's how bad it was. The only thing that kept me reading was to see if it could get any more terrible, see how many rules he could reuse by just changing the wording, and just to read something to help me fall asleep at night.
Don't waste your money unless you're an idiot with money anyway and you need a book to motivate you to get your act together.
Amazon.com
Should you save money in your child's name? Is paying off your home mortgage a good idea? Should you invest in index funds? Ric Edelman, syndicated columnist and PBS personality, answers these and 85 other commonly asked questions in The New Rules of Money.
The book covers questions about income and debt, college planning, home ownership, investment strategies, and family matters. Accessible and easy to read, The New Rules for Money is for those who have little time for financial planning but want good, straightforward advice about what to do with their money.
Book Description
Are You Playing By the New Rules?
Forget what you know about personal finance. The old rules no longer apply. Ric Edelman's 88 strategies, tailor-made for today's economy, will show you how to achieve financial success. Ric is famous for making personal finance fun, and you'll discover how easy it is to put his advice into action!
Is it smart to buy company stock with your 402 (k) plan? Discover the right way to handle your company retirement plan.
See Rule #85
Learn why you must carry a big, long mortgage -- and never pay it off!
See Rule #21
Learn why not to invest in the new Roth IRA-and discover the most powerful anti-tax investment available today.
See Rules #69 and #76
Planning to retire? Learn why you won't -- and what you must do instead.
See Rule #88
Find out why those who invest in S&P 500 Index Funds will wish they hadn't.
See Rule #36
Learn why that higher - paying job could actually cost you money.
See Rule #32
Customer Reviews:
Prepare For Your Elder Years, To Feel Secure........2005-07-01
This is an interactive how-to book fulled with relevant comic strips and cartoons -- a very graphic publication. In it, he promotes reverse psychology to get what you want; my sister mastered in this type of child rearing which I could never learn.
This book is about setting goals, not just realistic, but real. Make this goal as though you were living it today. Visualize. By doing this, your enthusiasm will rise, your focus will intensify, and you'll be able to stick to your goal.
Nothing is impossible. Sure enough, one day, you will make it happen, because you'll have made it important to you, vitally important. After you set your goal, you have to plan how to achieve it. Too many retired people are so focused on maintaining a living that they sometimes forget to have a life, and become 'bored to tears!'
Lincoln said: "And in the end it's not the years in your life that count. It's the life in your years." He gives several "what-if" and "if-only" scenarios. Whatever you choose, however you go about achieving your goals, the main end result is to be happy along the way and when you reach your destination. We may not get what we want when we want it. I was told by a stranger some years ago that God does not work on our time, but He has a plan for each of us in His own time.
John Greenleaf Whittier said, "For all sad words of tongue and pen, the saddest are those "It might have been." He tells us that "Bill Gates is rich because he own a whole lot of Microsoft, the software company he started. He's the richest person in America, perhaps the world." Part II shows you how to have your cake and eat it, too: take your choice, pound cake is fixed income investments and stocks; marble cake is filled with both. Cupcakes are fads. Avoid them.
complete waste of YOUR money.......2005-03-10
this book is contrarian to a fault. i think the author purposely incites controversy. the bottom line is this: every individual's financial circumstances vary and no one answer is correct for everybody. if you have student loans at 8% and a mortgage at 9%, it makes more sense obviously to pay down the higher debt, deductions be damned. many people make stupid mistakes such as making buying decisions based on tax deductions without thinking about the consequences to their budgets. they leave out property taxes, maintanence, etc. that adds up. for most people, paying down other debts first may make sense, but to keep your mortgage unpaid in the hopes of making double-digit returns in the market is foolish...it is much more complicated than that. there is your tax bracket, fees and expenses, time frame, investment risk, etc. such blanket statements are foolish for edelman to make. also, roth IRA's can make alot of sense to those people who qualify for them; his argument to not invest in it is weak at best and is based on loose assumptions. also, in many parts of the country, buying a starter home/townhome can make alot of sense. you can sell it for a decent profit in many cases, at least if you stay more than a couple of years. this beats renting anyday, and in his arguments he never addresses the real losses of renting, including the increase in the annual rent which in some markets can be exorbitant. anyway, read it and draw your own conclusions. there is never a substitute for common sense.
Interesting, but self-promoting.......2004-11-14
As a young, beginning investor, I have been educating myself about investments, savings, etc. With that in mind, I have been avariciously reading almost all the investment books I can find. Edelman's book first brought to my mind a concern about index funds, because every other academic book I've read supports them. I think Edelman has an axe to grind, being an personal finance manager and simply put, to Edelman, Index funds are the anti-christ and must be eliminated. However, his logic does not make sense, nor do his facts and figures hold up. The index funds simply mirror the market, and this they have done very well. He neglects to go into their low fees, and also he does not address the issue of survivorship of mutual funds, that is, that the current data that is published includes only those funds that survive so they are naturally better. Poor funds are simply eliminated or absorbed into other funds.
His comments on mortgages I found interesting, but consider that if you are getting a 10% return on an investment versus an 8% mortgage, that might make sense, but to get %10 you are going to have to invest in something risky (stocks). Can we reasonably assume that 10% is a good reasonable return? I don't think so.
So in sum, the work is biased toward moving money to professional managers while at the same time providing us with statements that are not well thought out. Better books I'd recommend are Malkiel's 'A Random Walk Down Wall Street' and Bernstein's 'The Four Pillars of Investing.'
Huh what?.......2004-05-24
I found a review supposedly by a school teacher from Florida complaining about middle income brackets of $54,000. He goes on to to say that he won't see that in 35 years.
I work for a school system in Pennsylvania and I don't know how I'd live on only $54,000/per year. I also know people in Florida who are making 6 figure incomes. One guy I know made over $50,000 last month.
Don't blame your profession, your location or Ric Eedelman. Blame the guy you see when you look in the mirror!
Edelman is a controversial guy.......2004-01-15
No doubt that Edelman is a very controversial guy--just check out these reviews. However, Edelman is also very knowledgeable and very accurate. He accurately called the Index Fund fallout as early as 1998. HE WAS WIDELY CRITICIZED FOR THAT. But as someone who listened to him, I am glad he was so perceptive!Likewise, Edelman suggests to carry a mortgage vs having a paid off mortgage and invest the difference. As another astute reviewer commented, this is a lot like the old term vs cash value life insurance debate. Which is better?Cash value is generally the better value for the insurance salesman. Likewise, a paid off mortgage is not doing you any good because it is a liability and provides no income. Better to put that extra mortgage moneyin good investments that can grow 20%-25% per year.Edelman may be controversial but his advice is right on.
Average customer rating:
- A clear overview of the history of international exchange rates
|
The Rules of the Game: International Money and Exchange Rates
Ronald I. McKinnon
Manufacturer: The MIT Press
ProductGroup: Book
Binding: Hardcover
 General
| Popular Economics
| Business & Investing
| Subjects
| Books
International
| Economics
| Business & Investing
| Subjects
| Books
Money & Monetary Policy
| Economics
| Business & Investing
| Subjects
| Books
Public Finance
| Economics
| Business & Investing
| Subjects
| Books
Foreign Exchange
| Finance
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
Look Inside Business Books
| Trip
| Specialty Stores
| Books
Look Inside Nonfiction Books
| Trip
| Specialty Stores
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Similar Items:
-
Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtue
ASIN: 0262133180 |
Book Description
Generalized financial volatility is capitalism's Achilles' heel. And nowhere is the problem of controlling such volatility more acute than in monetary and exchange-rate relationships across countries - the central theme of this book.
The Rules of the Game brings together essays, written over the course of thirty years, by a major figure in the field that analyze and compare a wide variety of important international monetary regimes. These range from the establishment of the gold standard in the nineteenth century through Bretton Woods, the dollar standard, floating exchange rates, the European Monetary System, to current proposals for reforming world monetary arrangements.
The essays are unique in that they specify precisely the rules of the game for each international monetary regime - past, present, and future. For ease of reference, the book offers boxed summaries of each set of rules and then discusses their advantages and disadvantages from the gold standard down to the author's proposal for a common monetary standard for the twenty-first century.
Part I assesses each monetary regime's success in stabilizing prices and exchange rates, while fostering international trade. Part II addresses a central question each country faces: what are the benefits of giving up exchange-rate flexibility to join a common monetary standard? Part III focuses on overall monetary reform for limiting financial volatility and exchange-rate crises in the next century - including whether or not Western Europe should adopt a common currency. The last chapter synthesizes and updates the author's previous writings on rationalizing monetary arrangements among the major industrial countries of North America, Western Europe, and East Asia.
Customer Reviews:
A clear overview of the history of international exchange rates.......2007-07-20
This book is a fine reference for a mainstream neoclassical-Keynesian synthesis view of money and exchange rates. It's a good source for information about the arrangements that governed international trade under the various international agreements of the last 100 years or so.
I give the book three stars for some of its theoretical failures, which is first and foremost, a misunderstanding of the nature of money, and hence, of exchange rates. The book follows much of the economics field in treating money as a creature of the government. That is only the case in the last 35 years or so, which is a kind of radical experiment. Money does not exist because governments say so. If this were true, money could never have developed. Money is a medium of exchange which has everything to do with its status as a store of value. Governments cannot create an item that has value simply by a government seal. All over the world, fiat currencies have lost value rapidly, because the long-term historical value of paper money is zero. Exchange rates operate chaotically, because they depend on arbitrage in foreign exchange markets, but all fiat currencies are inexorably headed toward zero.
While this book is a good reference for how much of the economics field views money, I find it gives a misleading picture of the nature of money. I'd recommend Rothbard's "What has the government done to our money?" for a clearer picture.
Book Description
A goldmine of tested DM tips and techniques. DM guru Nat Bodian's latest direct marketing tool crams 40 years of experience into a treasure drove of response-driven strategies for racking up sales by mail, phone, and space advertising. Exhaustively indexed to make fast access easy, Direct Marketing Rules of Thumb packs 1,000 priceless time and money saving ideas you need to: prepare, use, and evaluate every DM component--from headlines to offers to credit and collections; locate, select, time, and test top-selling mailing lists for business, professions, medicine, consumers, charities, and more--plus work with list brokers, managers, and compilers; land your share of the $300 billion telemarketing business--including getting started, finding help, preparing scripts, targeting top prospects, selecting lists, and more; sell successuflly through card decks; snag the best prices on paper, printing, production, and mail shop services; create and place low-cost DM space ads; much, much more.
Customer Reviews:
Excellent Reference Book.......2007-07-09
Excellent Reference Manual. This will stay on my bookshelf for easy referencing at all times.
An awesome resource for publishers and booksellers.......2005-04-14
This is an amazing resource for ideas. It should be on every bookseller's bookshelf. I keep it handy for when I am hungry for creative ideas.
Like all of Nat Bodian's books, it's top quality and full of great information, packed with 59 chapters in 400 pages. While it is pre-Internet, you will be hard-pressed to find a more thorough treatment of the direct marketing topic.
This book is in the same league with John Kremer's "Book Marketing Made Easier" (bookmarket.com) and E Haldeman-Julius's "First Hundred Million" (100millionbooks.net). Both are PACKED with ideas, the latter also packed with proven sales numbers for what titles did and did not sell. Both are also out of print unfortunately. Kremer's book can be picked up used and is well worth the money. The other is available in digital format but is largely unavailable except for hundreds of dollars, if you can find it.
If you have a chance to pick up any of Bodian's books, do it! I love them.
Book Description
ver dream of starting your own business? According to USA Today, more than 47 million people want to own their own businesses and over 20 million actually do. In How to Make Big Money in Your Own Small Business, bestselling business author Jeffrey Fox offers sound rules to succeeding in small business, whether you're running a bookstore, consulting business, or restaurant. In short chapters that range from administration and cash flow to marketing and hiring, Fox reminds entrepreneurs what's important and what's not, what makes a business succeed, and what causes it to fail.
Download Description
HOW TO MAKE BIG MONEY IN YOUR OWN SMALL BUSINESS is an extensive collection of unusual, unpredictable, but sound rules to succeed in starting your own business and making it a success.
Customer Reviews:
Easy & Motivating Reading..........2007-08-30
The book inspired and motivated me to do bigger things. There were lots of free space between the chapters whereon I took numerous notes that created my topics for brainstorming. I wished that all the books are published in the same manner, so that we have free space to take notes-think and create new ideas.
Good reminder of Nothing new.........2007-08-20
You will probably not find anything new in this book. However, it lists you several things that we tend to forget in our everyday activities.
Easy to read and motivational.
Value Depends on Where You Are in Small Business Cycle.......2007-08-07
The book is divided into roughly 3 sections: for the budding entrepreneur, for the micro (i.e. one man) shop, and for the small (under 50 person) business.
Pages 1-25 and then 129-144 focus on what to do/understand before you actually start your business. Based on my own mistakes in the professional service field, I'd like to have seen a statement or two about don't quit your day job until you have a paying customer, but Mr. Fox gets close enough to the ideal. That said, if you are a micro-sized business (10 or under people), this is good refresher stuff and may even give you some ideas to tackle to improve your business. If you are over 10 people in your business, consider skipping these sections.
In between page 26 and page 128, the advice applies equally well to micro and small businesses, although pages 92-97 are only applicable if you have more than 10 people working for you.
Throughout are some real gems of advice ... and more importantly ... the logic behind the advice. The ones that I found most intriguing and resonating were:
1. Cash in the bank is more important than "to be collected" profit
2. Stay off committees, boards and other time-intensive activities that networking gurus often proclaim as key to building business
3. The difference between a penny-saver and a penny-pincher, and why you want one but not the other.
I've read nearly all of Mr. Fox's books, and this is certainly a good one that deserves to be read by anyone thinking about starting up their own business or anyone currently running their own business...or anyone working in a small business.
Worth the read...maybe not a buy........2006-11-07
I've decided, as I've started to do some more extensive reading in the area of small business, in the hopes of shortly starting our own family business, to provide some more thorough reviews for books, whether good or bad. I started with this one, from the library I might add and I have to admit some of the recommendations and the fact that it seems more of a motivational book almost geared towards some type of stereotypical "soccer mom" or "housewife" wanting to start her own business put me off.
The book, though short (150 pages) makes for a good read I must confess. It seems centered on providing a lot of good motivational passages and some of the later chapters that I'll mention make it worthwhile in the end. He starts off early on by giving a nice little small biz priority list one should keep in mind at all times.
I'll start off with the negatives. The author makes several over the top suggestions by the author, you be the judge. In section XII, "Hire ex-paperboys", he suggests that those who were (and you can imagine the millions that were...) are "mentally tough", "independent" are better businessmen because of this. I tend to disagree seeing that any work done in teenage years can teach the importance and value of working. But what really disturbed me is that he went on to say "good child labor produces good adult employees" and last but not least "if you interview someone who washed out as a paperboy, wash your hands of that job candidate". Advice I think most business owners would be wise enough NOT to follow.
It however gets worse when the author makes the suggestion that in order to "maximize" your time and money, we hire I kid you not, a personal driver. He goes at some length to explain the benefits of this, suggesting it's not a luxury, but that driving is a "time thief", doesn't allow an owner to maximize his time and money and that there are plenty of retired people and part time works who would fit the bill. Unfortunately for me this is just a ridiculous point that I could only see happening in either Manhattan or possibly LA, if even that, especially if meeting clients or going to them is part of your job and what you enjoy.
I also disliked the following chapter on how to cope with the loss (firing or quitting) of an employee in that you should treat it as a death! The section itself is entitled "What if he had died". Not something I think needs to be brought up in such a way for a small business book especially in such a sinister comparison. He ends that section with "What if he had died? You can't care. You have customers to sell, to serve. You have a business to run. Get on with it."
As for the positives, and there are many spread throughout the book including tips such as the difficulty of truly doing productive work from a home office, and the difference between "fame" and "fortune" when stating "unless fame is part of your marketing plan, fame is for ego. You can't put ego in the bank."
What I enjoyed the most from the book, not necessarily being a numbers person but rather someone who understands its importance in day to day operations, was the chapters regarding the break point analysis. I don't believe many small business owners consider it from the get go, especially in retail, and it is definitely more applicable for those types of businesses versus "service" businesses (consulting, landscaping, painting, etc).
This is obviously a very if not overly thorough summary of this book but hopefully one that will provide the best possible insight into what you can get out of it. I would have given this book most likely a 2.5 out of 5 if not for the last few chapters that actually could benefit many small business owners as well as for some of the useful motivational tips the author often quotes, some of which can definitely be ignored and others that provide more food for thought.
Tax Deductible Purchase.......2006-03-27
I am impressed by the simplicity of this book. The text says what it has to say so you can get through it quickly and start applying the lessons. Sure, many of the things are common sense approaches to business but they work. Whether you have one employee or several, the book gives equal advice on the importance of continuous learning and training with the customer in mind throughout the book. I highly recommend this book. Remember: it's tax-deductible as a business expense. What do you have to lose?
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.
Average customer rating:
- Great Information
- Must Read for all Moms and Children
|
The Money Rules : 50 Ways Savvy Women Can Make More, Save More, and Have More
Susan Jones
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Paperback
General
| Popular Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
Budgeting & Money Management
| Personal Finance
| Business & Investing
| Subjects
| Books
General
| Personal Finance
| Business & Investing
| Subjects
| Books
Money Management for Women
| Personal Finance
| Business & Investing
| Subjects
| Books
General
| Women's Studies
| Nonfiction
| Subjects
| Books
Women
| Sociology
| Social Sciences
| Nonfiction
| Subjects
| Books
ASIN: 0071423648 |
Book Description
Practical tips to help today's women become financially savvy
As marketing manager for a personal finance company, Susan Knape discovered that even accomplished women have questions about managing and making money. The Money Rules is an essential and practical collection of tips that addresses the missed opportunities and oversights many women experience --and the profound consequences on their financial situations. Readers will learn to:
- Estimate their cost of living and the cost of the lifestyle they want--and develop a plan to get there
- Overcome embarrassment surrounding money issues
- Understand that whether one is married or single, the key to financial security is creating a financial life that is independent of someone else
- Develop confidence, hope, and practical strategies
Customer Reviews:
Great Information.......2006-12-06
This book is a must read for women and men alike. Very well written, easy to understand, and a ton of information. Also, the rules apply to people of all economic backgrounds. Very useful!
Must Read for all Moms and Children.......2004-01-06
THIS BOOKS IS A MUST READ FOR ALL MOMS AND THEIR CHILDREN!
Average customer rating:
- Witch Town Lady
- A Helpful, Easy Read
- A "Must Read" for Vacation Homeowners!
|
Breaking all the Rules: How to Rent Your Vacation Home: A New, Innovative "Rent by Owner" Tool for Preparing, Managing, Advertising,Tracking, Organizing & Maintaining Your Rental & Free Welcome Book
Marie R. Ferguson
Manufacturer: BookSurge Publishing
ProductGroup: Book
Binding: Paperback
Look Inside Travel Books
| Trip
| Specialty Stores
| Books
General
| Travel
| Subjects
| Books
Similar Items:
-
How to Rent Vacation Properties by Owner Second Edition
-
The Vacation Rental Organizer
-
Profit from Your Vacation Home Dream: The Complete Guide to a Savvy Financial and Emotional Investment
-
The Second Homeowner's Handbook: A Complete Guide for Vacation, Income, Retirement, And Investment
-
The Complete Guide to Second Homes for Vacation, Retirement, and Investment
ASIN: 1419628119
Release Date: 2007-02-05 |
Book Description
Buy Today and get your Free "Welcome Book" An Organized- Instructional Booklet which Contains Vital Information - Custom designed for your rental property. Send an email to(info@howtorentvacationhomes.com) with your Amazon order number to receive your free Welcome Book. "BREAKING ALL THE RULES: HOW TO RENT YOUR VACATION HOME" has Everything You Need To Know for Preparing, Managing, Pricing, Tracking and Organizing Your Rentals, Advertising, Handling Inquiries, Screening Potential Renters, and Maintaining your Vacation Rental Property. -Turn Your Vacation Home into a Valuable Asset -Create Most Desirable Vacation Rental in your Area -Get Higher Rental Income -Less Vacancies -Qualified Tenants -Guaranteed to learn how to make the most of your vacation rental. -All rental questions answered by Marie at info@howtorentvacationhomes.com For More Information visit http://www.howtorentvacationhomes.com
Customer Reviews:
Witch Town Lady.......2007-07-25
Marie, I received your book in the mail yesterday and last night, I read it from cover to cover. It was easy-to-read, informative, and directly to the point. I am planning on purchasing a vacation home soon. It is comforting to know that I can do exactly what you suggested in your book to create the kind of rental I would be proud to present to renters. And, it is nice to know I will be able to supplement my income to cover the new expenses that come along with owning a new home. Thank you for sharing your experiences and writing your book.
A Helpful, Easy Read.......2007-07-24
I have recently purchased a vacation property and this book gave great, easy suggestions on how to successfully rent out my property. It was very useful and gave me some great ideas! I would recommend it to anyone who has a rental property or even to people who are thinking of purchasing a rental property.
A "Must Read" for Vacation Homeowners!.......2007-07-18
Great Book - I really enjoyed reading this book. It got me excited about renting my vacation home. It is filled with detailed lists and instructions. I was left with very few questions. And, I know I can write to Marie for answers to any questions I may have now or later. I don't know of any other author that makes that offer. I have had rental properties for many years, but never thought of the ideas in this book. I can see how the vacation rentals are changing for the better. Only wish I had this book years ago. Great job Marie!
Book Description
The world's greatest showman explains how to get rich through rigourous adherence to 21 timeless principles. Newly designed and typeset by Waking Lion Press.
Customer Reviews:
Timeless advice.......2007-09-09
Like the original Golden Rule this advice will never be outdated. It is not a guide to making money and will not bring fortunes to your door, however if you follow these 21 golden rules you will be much richer and happier in all your endevers.
Books:
- CISSP All-in-One Exam Guide, Third Edition (All-in-One)
- Client at the Core: Marketing and Managing Today's Professional Services Firm
- Client at the Core: Marketing and Managing Today's Professional Services Firm
- Competing on Analytics: The New Science of Winning
- Concepts in Enterprise Resource Planning, Second Edition
- Corporate Fraud Handbook: Prevention and Detection
- Cost Accounting (12th Edition) (Charles T Horngren Series in Accounting)
- Cost Accounting (12th Edition) (Charles T Horngren Series in Accounting)
- Cost Accounting (12th Edition) (Charles T Horngren Series in Accounting)
- Cost Accounting (12th Edition) (Charles T Horngren Series in Accounting)
Books Index
Books Home
Recommended Books
- Restaurant Franchising
- History: Fiction or Science
- Capitalism: A Treatise on Economics
- Building a World Class Financial Services Business
- Essentials of Econometrics + Data CD
- History: Fiction or Science
- Customer Service Is a Contact Sport
- Introduction to Economic Growth
- Behind the Bottom Line: Powering Business Life with Spiritual Wisdom
- Cosi Fan Tutti: An Aurelio Zen Mystery
Life's Missing Instruction Manual : The Guidebook You Should Have Been Given at Birth
Zero Limits: The Secret Hawaiian System for Wealth, Health, Peace, and More
Seven Years to Seven Figures: The Fast-Track Plan to Becoming a Millionaire
Simpleology: The Simple Science of Getting What You Want
The Passion Test: The Effortless Path to Discovering Your Destiny
