Help in hiring financial professionals

 The Right Way to Hire Financial Help - 2nd Ed.: A Complete Guide to Choosing and Managing Brokers, Financial Planners, Insurance Agents, Lawyers, Tax Preparers, Bankers, and Real Estate Agents

by Charles A. A. Jaffe | Feb 12, 2001

 

I've used this book multiple times and lent it to friends and clients who needed to hire an attorney, real estate agent, CPA, and other financial professionals. Don't let the 2001 publication date deter you. The advice and questions to ask when hiring a financial professional haven't changed much over the decades. 

On the verge of retirement? Check out this basic book on preparing for retirement

Author Steve Vernon is a research scholar at the Stanford Center on Longevity and president of Rest-of-Life Communications. He writes clearly and succinctly, emphasizing the basic principles. The book is targeted at persons planning to retire soon. The book "provides the information and tools you need to build the most retirement income from your Social Security and retirement savings." A simple step-by-step checklist helps you take action.

What's the Deal with Social Security for Women?

 What's the Deal with Social Security for Women? is a new book by Marcia Mantell.

 

The following is quoted from: https://www.barnesandnoble.com/w/whats-the-deal-with-social-security-for-women-marcia-mantell/1133342938

"As a woman nearing retirement, you may be delightfully surprised to get your own Social Security check. But you probably have questions. Questions such as:

• How much money will I actually get from Social Security?
• How soon can I retire and start collecting my Social Security?
• What are my options for claiming?
• Do I really get benefits on my spouse or ex-spouse?

Drawing on the author's expertise and sharing the personal stories of real women, What’s The Deal With Social Security for Women opens the door on how Social Security works regardless of your life's journey. It's for you if you’re married, divorced, widowed, or single and will take some of the mystery out of this complex yet critical income source. Read this book discover how important it is to:

• Make smart decisions about when to claim Social Security
• Receive more monthly income by claiming after age 62
• Learn the facts about Social Security's future
• Balance time and money when deciding when to retire"

 

Your complete guide to a succesful and secure retirement

"Investment and personal finance experts Larry Swedroe and Kevin Grogan present uniquely comprehensive coverage of every important aspect you need to think about as you approach retirement, including:

Social Security, Medicare, investment planning strategy, portfolio maintenance, preparing your heirs, retirement issues faced by women, the threat of elder financial abuse, going beyond financials to think about your happiness, and much more.

These topics are explained with the help of specialists in each subject. And everything is based on the “science of investing” – evidenced with studies from peer-reviewed journals.

Overall, this adds up to a complete retirement guide, packed with the latest and best knowledge. Don’t enter your retirement without it."
https://www.goodreads.com/book/show/42925681-your-complete-guide-to-a-successful-secure-retirement 

Risk Less and Prosper: Your Guide to Safer Investing

During the market volatility brought on by the Coronavirus is a great time to read this classic book by Zvi Bodie and Rachelle Taqqu (2011).

A practical guide to getting personal investing right "Somewhere along the way, something has gone very wrong with the way individuals save and invest. Too often, households are drawn in by promotional suggestions masquerading as impartial investment advice. Consumers get saddled with more risk than they realize. Authors Zvi Bodie and Rachelle Taqqu understand the dilemma that today's investors face, and with Risk Less and Prosper they will help you find your financial footing.
Written in an accessible style, this practical guide skillfully explains why personal investing is all about you―your goals, your values and your career path. It shows how to understand investment risk and choose the particular blend of risk and safety that is right for you. And it lays out several simple yet powerful ways for small investors to cast a reliable safety net to achieve their financial goals and truly prosper. Coauthors Bodie and Taqqu challenge the myth that all investments require risk, then highlight some important risks that families often disregard when deciding where to put their money. Later, they connect the dots between investment and investor, showing us all how to grasp our own investment risk profiles and how we may use these insights to make more fitting investment choices.

• Outlines a straightforward way to invest by aligning your investments with your goals and the risk levels you can bear
• Provides basic investment abc's for readers who are otherwise literate
• Lays out a simple, actionable plan for achieving your goals
• Explains the role of risk-free assets and investment insurance in assuring that you reach your most essential goals

Contrary to popular belief, investing doesn't have to be complicated. You can build wealth without taking great risks. Risk Less and Prosper will show you how to make investment decisions that will make your financial life less stressful and more profitable." (Amazon.com)

The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy

I haven't read this yet but it seems like a very timely title and approach during these times of drmatic financial market volatility.
According to the Good reads website the book is :

"A detailed guide to overcoming the most frequently encountered psychological pitfalls of investing Bias, emotion, and overconfidence are just three of the many behavioral traits that can lead investors to lose money or achieve lower returns. Behavioral finance, which recognizes that there is a psychological element to all investor decision-making, can help you overcome this obstacle."

"In The Little Book of Behavioral Investing, expert James Montier takes you through some of the most important behavioral challenges faced by investors. Montier reveals the most common psychological barriers, clearly showing how emotion, overconfidence, and a multitude of other behavioral traits, can affect investment decision-making."
https://www.goodreads.com/book/show/6922765-the-little-book-of-behavioral-investing

Book worth reading- The Financial Diaries: How American Families Cope in a World of Uncertainty

If you feel frustrated or guilty by not following all the personal financial advice you've heard or read this book might provide some relief.
"Deep within the American Dream lies the belief that hard work and steady saving will ensure a comfortable retirement and a better life for one's children. But in a nation experiencing unprecedented prosperity, even for many families who seem to be doing everything right, this ideal is still out of reach."
"In The Financial Diaries, Jonathan Morduch and Rachel Schneider draw on the groundbreaking U.S. Financial Diaries, which follow the lives of 235 low- and middle-income families as they navigate through a year. Through the Diaries, Morduch and Schneider challenge popular assumptions about how Americans earn, spend, borrow, and save―and they identify the true causes of distress and inequality for many working Americans."
"We meet real people, ranging from a casino dealer to a street vendor to a tax preparer, who open up their lives and illustrate a world of financial uncertainty in which even limited financial success requires imaginative―and often costly―coping strategies. Morduch and Schneider detail what families are doing to help themselves and describe new policies and technologies that will improve stability for those who need it most."

Dollars and sense: How we misthink money and how to spend smarter

Behavioral economist Dan Ariely's new book, Dollars and sense: How we misthink money and how to spend smarter, is now available at your favorite bookseller's and library. Logan library will soon have the book, e-book, and audio recording available for loan.
"Blending humor and behavioral economics, the New York Times bestselling author of Predictably Irrational delves into the truly illogical world of personal finance to help people better understand why they make bad financial decisions, and gives them the knowledge they need to make better ones." http://danariely.com/books/dollars-and-sense/
Check out his other books, all very entertaining, revealing and readable: http://danariely.com/books/
Ariely is director of the Center for Advanced Hindsight (not a typo). http://advanced-hindsight.com/
Check out Ariely's website: http://danariely.com/

A great tutorial on Medicare

Kiplinger's just published an excellent article "FAQs about Medicare" by Kimberly Langford. It is mandatory reading for persons approaching age 65 as well as a great refresher for those already on Medicare. Check out: http://www.kiplinger.com/article/insurance/T027-C000-S002-faqs-about-medicare.html
For a much more detailed explanation of the complexities of Medicare I highly recommend the book  Medicare Demystified: A physician helps you save time, money, and frustration by Ronald Kahan, MD.

One of the best personal financial websites: Humble Dollar

Some of my former students will recall the name "Jonathan Clements" as i used his weekly Wall Street Journal articles in class for many years. Since moving one from the WSJ Mr. Clements wrote a yearly updated book: The Jonathan Clements Money Guide. Now all his content has moved to the excellent website: Clements writes clearly and explains financial concepts in a way that the average person can understand. Further, his approach is very consumer-oriented. Check out: http://www.humbledollar.com/ and especially his online Money Guide:  http://www.humbledollar.com/money-guide/main-menu/. "Welcome to HumbleDollar’s comprehensive online financial guide. This guide started life as an annually updated book, the Jonathan Clements Money Guide, but all the content was moved to the web, with the goal of continuously updating the information and making it more broadly available. Our hope: Whenever you start on a new financial adventure or you’re perplexed by the world of money, you’ll return to this guide—and, fingers crossed, find the answers you are looking for. The guide is divided into 16 parts, which (reflecting its origins as a book) are often referred to as chapters. In addition, there’s a list of key concepts and a detailed index. Looking for a particular topic? Check out the index—or try the search function." Sign up for his free e-mail newsletter.
I love it that Clements includes posts from his millennial daughter Hannah!