Review of Financial Independence 101: A Simple Strategy for Building Wealth (Hardcover)

Financial Independence 101: A Simple Strategy for Building Wealth by L. E. Robillard, is a straightforward, how-to guide to taking control of one's financial affairs, creating automatic income streams, building wealth through market index funds, providing for both present and retirement needs, maximizeing gains and minimizing risks, and much more. Written by an investment expert with 40 years of experience in the finance industry, Financial Independence 101 is both accessible and practical, presenting sometimes complex investment concepts in down-to-earth terms for non-specialist general readers of all money-savvy skill and experience levels.



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Review of J.K. Lasser's Your Income Tax 2007 (Hardcover)

I have purchased this book each year for the last 15-20 years.It is awesome.

Barbara
Jacksonville FL



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Review of You Don't Have to Be Rich: Comfort, Happiness, and Financial Security on Your Own Terms (Hardcover)

There are dozens of books which address many of the same topics and issues and this is one of the best because it was written primarily for non-experts such as I who seek "comfort, happiness, and financial security on [our] terms," of course, and need guidance to make appropriate decisions. Answers to questions such as these are more difficult to formulate now than at any prior time that I recall:

*What are the significant differences between standard of living and quality of life?
*Are they mutually exclusive?
*How can -- and should -- "wealth" be measured?
*To what extent (if any) is there a correlation between personal happiness and net worth?
*What do the happiest people seem to share in common?
*What are the most damaging misconceptions many people have when formulating a financial plan?
*Which strategies and tactics are most effective to achieve financial security? Why?
*What are "The Ten Commandments of Financial Happiness"?

Chatzky address these and countless other questions which many of us may have but feel embarrassed to ask. Of course, we can retain highly reputable financial planners whose services are worth every dollar they cost. However, my own experience suggests that a financial planner's best client is a well-informed client. More specifically, financial planners are most valuable once a client has carefully completed exercises such as those which Chatzky includes in her book. Invoking direct address, what do you REALLY want in life? Being rich and being happy are NOT mutually-exclusive. Many people are unhappy because they are essentially insolvent, if not destitute. No savings, credit unworthy, deeply in debt, in danger of foreclosure or eviction, etc. Many others are just as unhappy because of their affluence. They yearn to possess what money can't buy: physical health, peace of mind, friendship worthy of the name, etc.

Caveat: Do NOT purchase this book or any other such book unless and until you are wholeheartedly committed to doing the "homework" required and then to following through on whatever decisions you make. I think that Chapter 6 (all by itself) is worth far more than the cost of the book. However, do you REALLY understand the requirements as well as the benefits of living within your means? Tough decisions may need to be made. (I mean TOUGH.) Do you have what it takes to make them? More importantly, do you have what it takes to stick with those decisions no matter what? Years ago, the actor Rod Steiger was asked if young people ever requested career advice. "Oh yeah, sure, all the time. I look them right in the eye and ask `Do you want to be an actor or do you HAVE to be an actor?' The longer it takes themto answer, the less likely they'll ever make it." If you HAVE to have financial security, Jean Chatzky can help you to achieve it.Otherwise....



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Review of You Don't Have to Be Rich: Comfort, Happiness, and Financial Security on Your Own Terms (Hardcover)

There are dozens of books which address many of the same topics and issues and this is one of the best because it was written primarily for non-experts such as I who seek "comfort, happiness, and financial security on [our] terms," of course, and need guidance to make appropriate decisions. Answers to questions such as these are more difficult to formulate now than at any prior time that I recall:

*What are the significant differences between standard of living and quality of life?
*Are they mutually exclusive?
*How can -- and should -- "wealth" be measured?
*To what extent (if any) is there a correlation between personal happiness and net worth?
*What do the happiest people seem to share in common?
*What are the most damaging misconceptions many people have when formulating a financial plan?
*Which strategies and tactics are most effective to achieve financial security? Why?
*What are "The Ten Commandments of Financial Happiness"?

Chatzky address these and countless other questions which many of us may have but feel embarrassed to ask. Of course, we can retain highly reputable financial planners whose services are worth every dollar they cost. However, my own experience suggests that a financial planner's best client is a well-informed client. More specifically, financial planners are most valuable once a client has carefully completed exercises such as those which Chatzky includes in her book. Invoking direct address, what do you REALLY want in life? Being rich and being happy are NOT mutually-exclusive. Many people are unhappy because they are essentially insolvent, if not destitute. No savings, credit unworthy, deeply in debt, in danger of foreclosure or eviction, etc. Many others are just as unhappy because of their affluence. They yearn to possess what money can't buy: physical health, peace of mind, friendship worthy of the name, etc.

Caveat: Do NOT purchase this book or any other such book unless and until you are wholeheartedly committed to doing the "homework" required and then to following through on whatever decisions you make. I think that Chapter 6 (all by itself) is worth far more than the cost of the book. However, do you REALLY understand the requirements as well as the benefits of living within your means? Tough decisions may need to be made. (I mean TOUGH.) Do you have what it takes to make them? More importantly, do you have what it takes to stick with those decisions no matter what? Years ago, the actor Rod Steiger was asked if young people ever requested career advice. "Oh yeah, sure, all the time. I look them right in the eye and ask `Do you want to be an actor or do you HAVE to be an actor?' The longer it takes themto answer, the less likely they'll ever make it." If you HAVE to have financial security, Jean Chatzky can help you to achieve it.Otherwise....



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Review of Wealth: Grow It, Protect It, Spend It, and Share It (Hardcover)

With more than 25 years' experience managing other people's money, his personal finances and his family's wealth, Stuart Lucas shares his secrets for building and protecting wealth.

Lucas, a fourth-generation heir to the Carnation fortune, is an accomplished wealth management advisor.In Wealth: Grow It, Protect It, Spend It and Share It, he offers a coherent plan that integrates the vital components of a wealth management strategy.

Departing from the money management classic process, he offers a unique eight-point framework.

1.Take charge and do it early.
2.Ally family and business interests around wealth-building goals and strategies.
3.Create a culture of accountability.
4.Capitalize on your family's combined resources.
5.Delegate, enable and respect independence.
6.Diversify but focus.
7.When possible, err on the side of simplicity.
8.Develop future family leaders with strong wealth management skills.

Lucas says he filters every decision he makes, whether it involves choosing an investment manager, thinking about tax strategy or setting family goals through the prism of these principles.

His discussion equips even the most sophisticated of financial families with an essential, but workable, reference point for their own financial processes.




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Review of Cash-Rich Retirement: Use the Investing Techniques of the Mega-Wealthy to Secure Your Retirement Future (Hardcover)

I recently took early retirement and have checked out several books looking for help to make my income last.This is the best of the lot.It helped me understand ways of shielding my investments from "performance whiplash".It also gives straightforward advice about new funds, indexes, health insurance, annuities and even reverse mortgages.Whether you are already retired, thinking of retirement, decades away from retirement orsomewhere in between, this book will help you.I give it high marks for good advice, good tools, and a clear action plan for stronger finances.Best of all, it is easy to read and understand.



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Review of Invest in Yourself: Six Secrets to a Rich Life (Hardcover)

"Our goal for Invest in Yourself is to motivate you to take charge ofyour life and make the most out of your time, energy, and money." That's a novel and valuable perspective that's worth five stars for thisbook.

Too many self-help books focus on helping you get more money ormore out of your money, but ignore the costs in terms of the time,attention, effort and stress involved.Invest in Yourself looks beyondthat overly-narrow focus.That's the good news about this book.

The badnews about this book is that it has taken on more than one book can hope tofully deliver on.I hope the authors come out with sequels that expand andmagnify what is here.

The six secrets are:

(1)Make your ownlifestyle decisions.

(2)Put your family first.

(3)Wherever youwork, be in business for yourself.

(4)Make the most of the money youbring home.

(5)Turn your debts into golden investmentopportunities.

(6)Map out your financial future.

The three authorshave an unusual perspective.They have dropped out of the "get aheadat the office" rat race and "shop until you drop" lifestylesmuch more than most.As a result, they have lots of money-saving ideasbased on their own life experiences.Much of what is in the book, WaltDisney's Uncle Scrooge would approve of.If you are like me, you will findmoney-saving ideas that would never have occurred to you, otherwise.Myparents have always shopped are yard sales, but it had never occurred to meto use these routinely for the kind of around-the-house items that I willseldom use like unusual garden tools.

One of the strengths of the bookis that it is not a "one size fits all" approach.They realizethat each person will have a different set of life goals, and the advice iscouched to accommodate that.

I also liked the way that the bookchallenged the automatic assumptions that many make:Career comes first;job comes first; exciting consumer experiences are a main reward forsuccess; and only the best will do.

By having three authors, theperspectives and ideas were much more varied than I have seen in other,somewhat-similar self-help books.That also was a strength.

The weakestsection was the last one on mapping out your financial future.Almosteveryone will need more guidance than is here.That's the bad news.Thegood news is that there are lots of books about creating financial plansthat you can use to supplement this one.

On the other hand, those who buyinto the traditional American Dream and will happily pay the price foreconomic success will find less in this book than will those independentsouls who listen to their own intuition for guidance.Despite ideas formaking penny-pinching fun, it's not going to be fun for everyone.I doapplaud pointing out how saving money for essentials is far more valuablethan expanding income due to the income tax effects on progressive income. The advice about paying off your expensive debt is pretty standard, but Iliked the way it was couched in terms of thinking of it as a high returninvestment.

I hope you will not only read this book, but apply itslessons.As you do, I encourage you to expand your perspective even morebroadly than the book does.What other areas do you have important valuesin, besides time, money, and energy?How can those values be honored inyour tradeoffs?The more you do this, the better life you will have . . .the richer your life will be in terms of its effect on those around you.

Enjoy, live long, and prosper!

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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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Review of Retire Without Worry: Simple, Straightforward Answers to Serious Financial Questions (Hardcover)

Written by certified financial planner Robert J. Reby, Retire Without Worry: Simple, Straightforward Answers To Serious Financial Questions is a no-nonsense, "reader friendly" guidebook to diverse money matters ranging from stocks, bonds and funds; to the ABC's of retirement planning, estate planning, taking care of taxes and so much more. An easy-to-follow guide written especially for lay readers in need of sound basic advice, Retire Without Worry is especially recommended reading for members of the baby boom generation who are now finding themselves on the brink of their retirement years and needing to address the pending financial and money management issues and concerns that they will all to soon be called upon to address for themselves and their loved ones.



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Review of Ready...Set...Retire!: Financial Strategies for the Rest of Your Life (Hardcover)

I have been a Registered Investment Advisor and securities licensed. I have never read a financial book that is so clear and comprehensive on asset allocation. This book is a must for those that have a nest egg and wonder what they are going to do with their money when they retire. It
explains how to get a stream of income and growth at the same time.



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Review of Operation Financial Freedom: The Ultimate Plan to Build Wealth and Live the Life You Want (Hardcover)

This book opened my eyes to a whole new world. It has taught me so much.It is different than the usual "get out of debt" type books, it walks you through step by step on how to do everything! There is nothing that this book does not cover.From getting your finances in order and tackling credit card debt, to going into business for yourself, buying a home, getting more money at tax time, saving plans, the list goes on and on.I truly enjoyed reading the book because I was learning tons of things that I never knew.I have read this book more than once, I use it as a guide anytime I come across anything questionable dealing with my finances. It is a great book!



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Review of The Money Book for the Young, Fabulous & Broke (Hardcover)

How many people graduate from high school and even college within knowing the basics of financial literacy - deciphering credit ratings, maintaining and balancing a bank account, getting through college with a minimum of student debt, making the most of that first job and, eventually, buying a home and planning for retirement?
Orman strives to close this "financial illiteracy" gap by providing invaluable info for those just starting out - although I found plenty of information I needed to know as well - and I'm well outside the "young and broke" range she seems to be targeting.
The info is not only cutting edge but many of the websites have NOT appeared in other books. One example of how new the info is: Orman notes the recent changes in credit rules noting that EVERYONE has access to a FREE credit report once a year.
Because she knows younger adults may be intimidated by a ton of financial info, Orman (wisely) delivers her advice in innovative, user-friendly ways. Each page is short, easy to read and yet chock full of info. In short, she doesn't waste words.
Each section is launched with a Lowdown on what will be covered in the chapter and there is a quick summary at the end with checklists to make sure readers know what they shouldn't have missed. A Glossary at the back of the book explains some of the more complex terms. Important website resources and key terms are boldfaced in green, a great asset when looking for important info.
Reading this book could help young people avoid many pitfalls, since Orman covers the basics such as:
* Understanding that all important credit rating and deciphering your FICO score

*Making a small paycheck stretch as far as possible while maximizing opportunites for career advancement.

* A special area on her website where buyers of the book can get UPDATES on info in the book and CONNECT with others on message boards, a great way to get info and share viewpoints (and Suze stops in regularly to answer a few select questions, giving readers an opportunity to have her answer YOUR questions)

* Current websites to get information quickly and fill in gaps. She even notes that readers can now get their FICO score FREE once a year, valuable information that is on the cutting edge of new legislation. This info alone could well be worth the price of the book.

* The rignt and wrong way to handle student debt

* How to start investing and the best funds for ROth IRAs and 401(k) accoutns.

* Buying a car, auto insurance and a home.

I consider this MUST reading for anyoone just starting an independent life and this will definitely be at the top of my gift list for any high school or college graduate. What better gift than to give someone the tools for an independent and financially secure future?



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Review of Money Matters: Essential Tips and Tools for Building Financial Peace of Mind (Hardcover)

I thought the author did a good job of spanning the wide range of financial topics with sound advice



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Review of Harvesting Profits on Wall Street: Essays in Investing (Hardcover)

This is an excellent book.I have been an investor in the Muhlenkamp Fund for the past ten years. I have witnessed firsthand how Ron Muhlenkamp and his team of analysts avoid the fads promulgated by today's financial media and select stocks based on the principles outlined in this book.

The book is essentially a compilation of the essays written by Ron Muhlenkamp over the last twenty-five years.Very few money managers have the guts to post their past predictions and the the advice they gave to clients in the historical context of what actually happened to the stock market during that period.In doing this, the author has a knack for explaining complex economic concepts and scenarios in a way that anyone can understand.

I especially liked the "Open Letter to My Congressman" which he wrote to Congressman Doug Walgren in 1990.This letter is "dead on" in terms of what the Federal Government needs to do to resolve the looming Social Security crisis.The advice is something that every one of our politicians should heed.

I highly recommend this book to anyone who wants to become a better investor and I expect to turn to it often when I need financial wisdom on how and when to invest. I would also recommend subscribing to the Muhlenkamp Memorandum which is published quarterly.



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Review of Wealth 101 (Hardcover)

This excellent book by Wade Cook offers 101 financial strategies that really work. You will learn how to create wealth, increase cash flow, reduce taxes and protect yourself from lawsuits and more.I also recomend Brilliant Deductions.



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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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Review of The Citi Commonsense Money Guide for Real People (Hardcover)

The book is well organized into three sections that deal with major issues in our financial lives.For those who find themselves in financial difficulty, the first section deals with practical solutions to problems from cash flow to debt management, offering very specific "commonsense considerations" imbedded in each chapter.The second section entitled "Basic Training" gives insight into many issues from budgeting to investing.Finally, the third section titled "Curveballs" considers those unique events in life that can derail any financial plan if not carefully managed.Events like budgeting between jobs, managing divorce, handling finances in blended families, death of a spouse and identity theft are some of the topics explored.The book is an interesting read because many real life stories are included throughout the book.We can all relate to the emotional issues represented in these personal stories and better understand how they can complicate our lives and work against our best financial interests.This book helps to cut through those complications and provide very specific action-oriented solutions.



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Review of Grow Your Money!: 101 Easy Tips to Plan, Save, and Invest (Hardcover)

This is a wonderful educational book on numerous areas of personal finance.It includes topics such as:

Buying and Maintaining a Home
Profiting from a Fabulous Career
Reducing Taxes
Investing in Stocks, Bonds and Real Estate
Retirement Planning
Estate Planning and Insurance
Educating Children about Money and Personal Finance

This is the most comprehensive finance book I've read and it's easy to read with some humor thrown in here and there.The author uses numerous detailed examples to illustrate his points which really help the reader understand the ideas.The book also has a companion website where the reader can go for more information or more up-to-date information as this book ages.

This is not a book that has to be read cover-to-cover.I did that, but if you want to find topics relevant to you, the author includes an age-based checklist in the front.I also really like that the end of the book includes a checklist by month of the things you should be doing throughout the year.It makes keeping up with your finances look less daunting!

The author made it easy for me to come away from the book with my own "To-Do" list, so I definitely got something out of reading this book!I also gained some new perspectives on certain areas - for example, it's a good idea to plan for early retirement because some people plan to retire later, but end up having to retire early.(You don't want to run out of money)I think the author has good insight and great ideas and I agree with his financial strategies.

Great book for all to read!



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Review of The Two Headed Quarter: How to See Through Deceptive Numbers and Save Money on Everything You Buy (Hardcover)

I was considering the purchase of this book so I used the "search inside" to try and find out whether it would be worth my time reading it. In the "read an excerpt" the author described how he and his wife had gone to a wholesale club to receive a "free" gift. People who know anything about how the world works would not do this. Someone should have mentioned to the author that there are no free lunches. So that was a bad start. Then I used the "surprise me" and read the following "Take baccarat for example. For every dollar bet the casino wins on average $1.0136 if the bet is on the player and $1.0117 if the bet is on the banker." Obviously the casino cannot win MORE than you bet. He meant $.0136 and $.0117 but it shows imprecise thinking and sloppy editing. The reason I was aware of this book was because amazon sent me an email about it because I had bought "Fooled by Randomness" and "The Black Swan" by Nassim Taleb, two books I would hardily recommend. Possibly after this review we may not get the search inside feature on as many new books which would be a shame. I reluctantly wrote this review because I have greatly benefited from reviews I have read by other amazon customers.



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Review of Save Now or Die Trying: Achieving Long-Term Wealth in Your 20s and 30s (Hardcover)

As a Baby Boomer of a certain age, I flipped through this to get the mind-set of the generation which will fund the pyramid scheme of my Social Security.Good news for us if those in their 20s and 30s read this book.It is filled with amusing anecdotes of the author's friends, from the worker bees to the grasshoppers, and solutions for each.Even the charts are readable.If a kid has a copy of Bruno's book together with Carnegie's How to Win Friends, etc., he will be ahead of the game.





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