Showing posts with label Broadway. Show all posts
Showing posts with label Broadway. Show all posts

3/01/2010

Review of Smart Couples Finish Rich: 9 Steps to Creating a Rich Future for You and Your Partner (Hardcover)

I am a CPA and my wife is a full-time education student. I enjoy reading about accounting and finance. She does not. I like to pay the bills and do the household bookkeeping. She does not. However, my point is, we BOTH agree that this book is the one to have if you want to learn about saving and investing, building a nest egg for retirement, and having the financial independence to realize dreams, AS A COUPLE. I found this book very easy-to-read and informative, and I know I will use it often for future reference. As a CPA, I am accustomed to reading finance books and articles that are loaded with technical finance jargon. However, David Bach presents this information in a much more refreshing manner, and in a way that is easy for those unfamiliar with financial terminology, to understand. It gives you a wealth of information about 401(k)s, life insurance, trusts, wills, mutual funds, DRIPs, and much more. Most importantly, Smart Couples Finish Rich emphasizes personal financial planning and management as practically a lifestyle, not just an exercise or process. It shows you how to determine, as individuals and as a couple, what values you hold dear and how your view of money, investing, consumption, etc., should be aligned with your values. It really helps the reader to see that everything that one does in his or her life is a reflection of their values, including how one plans and manages his/her financial future. I highly recommend this book to those couples who are looking for an effective tool to learn more about personal finance and how to provide for their rich future together.



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2/23/2010

Review of Magic Words: 101 Ways to Talk Your Way Through Life's Challenges (Hardcover)

This book is a very easy to read little set of "wise" tidbits, told through anecdotes (mostly about very "improtant" multi millionaires and anonomous famous people. The book is broken up into three sections: Magic words to say to yourself; Magic words you say to others; and finally Magic Words universal. Nothing really profound and its not very deep. Neither of the co-authors have a background in Psychology, so I sort of wonder what the base their authority on. If you really want something like this, but more insightful, try either "Dont Sweat the Small Stuff" or my favorite "Finding Joy: 101 ways to free your spirit and dance with life" All three of these are based on the same premise of changing yourself and your behaviors so you can enjoy life, but the last two are just MUCH better.



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2/20/2010

Review of Eyewitness to Wall Street: 400 Years of Dreamers, Schemers, Busts and Booms (Hardcover)

Editor David Colbert collected a multitude of printed source material - diaries, private letters, memoirs and articles - that spans 400 years, and, as the title promises, provides plenty of accounts from eyewitnesses to Wall Street. Organized chronologically, the book also includes Colbert's timelines and his original introductions for each piece. Divided into sections that reflect every era, the book is an insightful and often hilarious romp through financial history. We [...] recommend this book to all readers - there's something here for everyone, even if you don't think you give a hoot about the stock market. Colbert's collection is a sweeping, unusual look at social, economic, political and cultural history.




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1/31/2010

Review of Bryson's Dictionary of Troublesome Words (Hardcover)

Not to gild the lily, this is to all intents and purposes a basically good book. Hopefully, it will be utilized to put an end to grammatical and usage errors, as well as misuse of apostrophe's, "quotation marks" and other punctuation.

If that paragraph above does not give you the dry heaves, you need to read Bill Bryson's "Dictionary."

Unfortunately, much as I enjoyed this book, I'm afraid it will appeal primarily to people who already know a lot of this information, instead of to the many who would benefit from reading it. And that's too bad ("The belief that *and* should not be used to begin a sentence is without foundation. And that's all there is to it." [p. 13]).

As Bryson notes, this book is not a style or usage guide. For that, I would recommend Fowler and Wallraff, sources Bryson often cites, and especially Bill Walsh's Lapsing Into a Comma : A Curmudgeon's Guide to the Many Things That Can Go Wrong in Print--and How to Avoid Them. What this book does provide is a useful guide to clarity of expression through precise use of language. While many people may not know, or care, about the distinctions between "lectern," "podium," "dais," and "rostrum" (p. 119), for example, the distinctions are nevertheless important, and Bryson helps nail them down.

He makes the important point that English is a language without a governing authority. Tradition and usage define what's proper. Language is evolutionary -- an example, as Hayek noted, of spontaneous order. However, it's possible to take this idea too far. In the Introduction (a passage quoted on the back cover as well), Bryson says, "If you wish to say 'between you and I' or to use *fulsome* in the sense of lavish, it is your privilege to do so...". I'm not certain this is the sort of advice people necessarily need to hear, unless of course you add the important corollary that the rest of us have the privilege of considering you an idiot for doing so.

Apart from that, though, this is an entertaining as well as useful read, and one I encourage writers both professional and casual to keep handy.



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1/02/2010

Review of Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age (Hardcover)

I have not read any other books in this series, but the subject matter of this book appealed to me.I often run into people who (for various reasons) don't have much liquid wealth going into their 40s.Yet I haven't seen much written to suggest what these folks should do.I was hoping to get some ideas to share.Unfortunately, I didn't really find any that I didn't know about already.

If you are over 50, this book won't provide you with the advice you need.The intellectual process that Mr. Bach went through was to take the familiar arguments about the power of compound interest and saving with pre-tax dollars . . . and think of a few ways to shorten up the number of years required for compound interest to do its thing on your behalf.His best suggestions outside the standard financial planning advice are to be more valuable at work so you can earn more raises and promotions . . . and paying down your mortgage a little faster than is required.

I applaud his advice that people spend less on things that don't provide much benefit . . . but most people are going to be demoralized if that's the main source of increased liquid wealth.After all, most people want wealth not for retirement . . . but to enjoy life before and after they retire.

I found his arguments about starting your own business to earn more money to be naive at best . . . and overoptimistic at worst.Buying and running . . . or starting and running a business requires a lot of hard work and skill.Most successful entrepreneurs are off doing this by around age 35.Most people at 49 will find it a tough hill to climb.I applaud Mr. Bach's suggestion that people look into buying, operating, expanding and then selling franchised operations that meet his criteria.The other ideas won't work for most people based on historical averages.

I was also puzzled by his emphasis on having one-third of your liquid financial wealth in bonds.That's been one of the lowest returning classes of investment over the last 150, 100, 50, and 25 years.Why deliberately earn less when you have a long time horizon?

Much of the appeal of this book is that Mr. Bach is optimistic by nature, has a kindly interest in people and aspires for people to accomplish more.Bravo for that attitude!

I also found that Mr. Bach uses quantitative examples to explain compound interest and pre-tax versus after-tax investments much better than most financial planners do.

If you are under 45 and have never read a book about financial planning before, you will find this to be a valuable resource.If you are familiar with financial planning, you can skip this book.If you are not inclined to plan, don't know anything about financial planning and find math to be challenging, this book will provide useful new perspectives for you.



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11/25/2009

Review of Colossus: How the Corporation Changed America (Hardcover)

These writings consider the impact on American history and events of the rise of big business, using essays, poems, editorials and company histories to reveal that it's the corporation which has ultimately served as the agent of social change in this country. An intriguing collection of writings provides a different kind of economic and social history: one based on business events.



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11/11/2009

Review of The Cure for Money Madness: Break Your Bad Money Habits, Live Without Financial Stress--and Make More Money! (Hardcover)

What gratification to see someone you taught years ago grow into a wise and helpful human being.This book is the product of that growth.Spencer offers a font of advice on how to look into the money madness which grips so many people in this prosperous, yet often self-defeating society in which we live.Through insightful analysis of hidden childhood money patterns and useful exercises Spencer guides the reader into his or her individual "money madness" and suggests how to remedy it.He further teaches how people can invest, free of the pushes and pulls of the get rich quick schemes in books, on radio and TV.I always wondered why people, who want to sell me ideas about how to make a million, bothered.Why waste their time when they could be out making that million rather than trying to get my money?I guess much financial advice is like this.It is too good to be true.

Spencer puts this into perspective by showing how the money madness of both seller and buyer keep them from addressing what is really important in life: living with a sense of ease, living connected to your loved ones, and living so as to contribute to the world. Spencer's goal is to address the ways in which our hidden attitudes toward money keeps us from this deeper satisfaction.

Beginning with an exploration of your destructive patterns, Spencer presents ways they can be healed, particularly in our relationships to others.He suggests how one can save and invest without being driven by emotion (and he does this in very useful detail---something one can act upon at once). He touches on how money madness affects people at work, and how to address it to make one's self more effective. He takes on the myths about house buying (which given the housing bubble burst, makes his advice all the more relevant).He talks about philanthropy, offering ways to do it more awarely.

At a time of money fear, Spencer offers a way for people to see where they truly stand in it all, and how to take action based on a clearer understanding.The subject matter of this book is greatly needed and Spencer has done an excellent job of helping people find their way through a turmoil which may, in fact, be the result of our collective money madness.This is an important book to read.

Charlie Fisher,Associate Professor Emeritus, Brandeis University




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11/04/2009

Review of Why We Make Mistakes: How We Look Without Seeing, Forget Things in Seconds, and Are All Pretty Sure We Are Way Above Average (Hardcover)

"Why We Make Mistakes" is the latest entry in a bumper crop of new books about how people make decisions.The author, Joseph Hallinan, is a former writer for the Wall Street Journal and a Pulitzer-prize winner, and his brisk style makes this book a fast and enjoyable read.Think of it as a lengthy version of an intiguing article in the WSJ, and as a perfect book to read while on a long plane flight.

Hallinan's book is essentially a survey of research into why people act the way they do.It turns out that we are biased, "poorly calibrated" (meaning, we often don't know our own limitations), very quick to judge other people on the basis of appearance alone, prone to sticking with old strategies that work poorly in new situations, and generally a lot more irrational than we think we are. "Why We Make Mistakes" is filled with interesting little oddities, such as the fact that most people have an inordinate preference for the number 7 and the color blue and the fact that our memories are typically much poorer than we realize (explaining why eye witness testimony is so unreliable).

Hallinan makes the good point that we need to understand why we make mistakes before we can do anything to prevent them.In the 1980s, for example, one out of every 5,000 people who received anesthesia died.The key to improving this outcome was to recognize that even highly trained, brilliant anesthesiologists make mistakes.At the time, two major models of machine were used to deliver anesthesia--one had a control valve that turned clockwise, another had a valve that turned counterclockwise.The profession realized that anesthesiologists could easily confuse the two machines, with disastrous results--the fix was to standardize the machines so the valve turned only one way, thus reducing the opportunity for simple human error.Then anethesiologists also took a page from the airline industry--they started using checklists to remind themselves to do important things, and they "flattened the authority gradient" by encouraging nurses and others in the operating room to point out errors.Hallinan reports that deaths due to anesthesia have declined by a factor of 40, to one death per 200,000.Some of the improvement doubtless results from changes in technology and medical knowledge, but Hallinan makes a good case that it was also very important to simply recognize that people are inherently mistake-prone and then take steps to minimize the things that can go wrong.

All of this has important implications for businesses, governments and other group activities.Organizations that brook no dissent, on the theory that the most senior people in the room will never make mistakes, are headed for disaster.As Hallinan explains, novices are often better able to spot errors than the "experts," who tend to skim over mistakes and ignore them because, ironically, the experts assume the mistakes out of the equation.Thus, the "newbie" in the room may spot the embarassing arithmetic error faster than the senior folks who wrongly assume from experience that such an error could never be made.

Organizations that understand that people will make mistakes and then do something to manage and minimize those mistakes are more likely to succeed.This is exactly what the airline industry, an enterprise that has very low tolerance for error, has done with great success.This is not to say that mistakes are no longer a problem, only that they are much rarer than they have been historically.

Other books in this genre include Cordelia Fine's "A Mind of Its Own," Zachary Shore's "Blunder," Burton's "On Being Certain," "Predictably Irrational" and "Sway."There's a lot of overlap between the various books on the subject, but each of them adds something new and interesting to the discussion.In any case, Hallinan's "Why We Make Mistakes" stands out because of its readability and because its a good survey of the topic.




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10/31/2009

Review of Fight For Your Money: How to Stop Getting Ripped Off and Save a Fortune (Hardcover)

If you are not familiar with David Bach it is time to get to know him. He is truely fighting against the system that is designed to take our money from us legally. After reading his latest book this is what happened:

David,
I just hung up with my cable and phone providers and because of your book:
--I am now saving $25 per month on home phone,
--changed plans on cellular and saved at least $30 per month just on the monthly portion, also got unlimited texting in the plan which I was paying about $20 a month for text over usage.
--The cable company cut my rate by 50% at $49 a month for six months then $20 a month cheaper after that without cutting service at all. We do like our HBO.
Total yearly savings are at least $1320

While I am very glad to be saving I feel like an idiot for allowing it to go own in the past. THe good with the bad you know.

The book also helped me update our wills, verify social security earnings, spend all of our gift cards, roll over an old employer's 401k to my fidelity account, and validated my buying my car that is two years old, lease trade in for 50% off the new car price (Cadillac DTS for $27,000) (this was a few years ago and I have preaching the practice to everyone)

All from reading your book the last couple of days. I would read it and then go to the computer, read some then to the computer. My wife thought I was nuts until I showed her the work I was doing. She still thinks it but not due to this behavior.

This really explains people dislike "the system". Banks, credit cards and just big business in general are all inherently bad and need to be regulated. As a small business owner I was more of the less regulation the better in the past but....

This book will help anyone who takes the time to read it.
Welcome to the Finish Rich World of David Bach

Thanks for reading,
Tom and Wanda Kennedy



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10/27/2009

Review of AdaptAbility: How to Survive Change You Didn't Ask For (Hardcover)

M J Ryan has done a great job of outlining how to survive change - expected or unexpected. In a hurry? Reading the table of contents alone will give you more than enough to get started. In itself, it's a step-by-step guide to surviving unexpected change. At 219 pages, this book manages to be both a quick and easy read and everything you need to know to become adept at staying afloat in permanent white water. The book is crisp, clear, and full of useful advise. I would recommend it to both my personal and my executive coaching clients.



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