Showing posts with label book review. Show all posts
Showing posts with label book review. Show all posts

June 17, 2020

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

January 1, 2017

The wisdom of frugality: Why less is more-- more or less

The book The wisdom of frugality: Why less is more-- more or less by Emrys Westacott. Michelle Singletary, personal finance writer for the Washington Post writes in her review of this book: "Given the number of multimillionaires tapped for Cabinet positions under President-elect Donald Trump, I wonder if frugality will soon be considered un-American." Singletary continues: "Since our next president is someone who represents the opposite of thrift, perhaps our country should be reminded of the virtues of living below one’s means. Thus, to celebrate the new year, this month’s pick for the Color of Money Book Club is Westacott’s The Wisdom of Frugality: Why Less is More — More or Less. The start of a new year is a good time to contemplate one's true personal values... not those that we verbalize but the values that we live by. This book promises a wonderful exploration of the values of living a simple life, which in America still means living a more luxurious life than available to anyone else in the world.
The book evolved from a college course on frugal living “Tightwaddery: The Good Life on a Dollar a Day” with an emphasis on exploring the philosophical background of frugal living. Read an interview with the author, a philosopher, at: http://press.princeton.edu/releases/m10821.html

December 13, 2016

The More of Less: Finding the life you want under everything you own

During this highly acquisitive time as too many people frantically shop for the holidays, buying gifts that are not really wanted or needed... Joshua Becker's book The More of Less extolls the value of paring down one's possessions to simplify life and reduce debt. As quoted from the book's website http://www.themoreofless.com/: "Most of us know we own too much stuff. We feel the burden of our clutter. We tire of cleaning and managing and organizing. Our toy rooms are messy, our drawers won’t close, our closets are filled, and we can’t fit our cars in our garages. The evidence of clutter is all around us.
Meanwhile, this constant accumulation of stuff slowly begins robbing us of life. It redirects our given passions. It steals our greatest potential. It consumes our limited resources. And it distracts us from the very life we wish we were living.
Live a better life with less. 
It’s time to own your possessions instead of letting them own you. After all, the beauty of minimalism isn’t in what it takes away. It’s in what it gives."
Of course you can buy the book for yourself or a loved one or listen to the eaudiobook through many libraries. We can all benefit by reducing clutter and Joshua gives lots of strategies and reasons for doing so.
Since this is the height of the holiday shopping season when so many unwanted, useless, redundant gifts are purchased, it's the perfect time to turn off the TV (an advertising conveyance mechanism) and read/listen to this book. For years we've been following one of Becker's gift recommendations: giving donations to charity in the name of the recipient rather than buying more stuff and asking our families to donate to our favorite charities instead of giving us more stuff.
More of Less_spine_3D.jpg

October 31, 2016

Medicare Demystified book

I strongly recommend the book Medicare Demystified (2014) by Ronald Kahan, MD for both Medicare eligible adults and their adult children who may be helping them navigate their choices. As a recent Medicare participant, I had read a lot of info on the internet and yet was still quite overwhelmed by my options. Finally I search online for "Medicare" + "insurance" and "Logan, UT" where I found an insurance company that provides detailed guidance on choosing a plan. My husband and I met with the insurance agent and learned a lot in the process. We were able to make a choice between traditional Medicare + Part D (drugs) + Medigap policy versus an all in one Medicare Advantage Plan. Insurance agents are paid commissions by the insurance companies selling Medigap policies so there was no cost to us.
I would have been in a better position to make a well-educated choice if I had found Kahan's book first. (Thanks to my brother-in-law Tom who lent me the book). I don't recommend trying to read the book cover to cover in a few short sittings. I was able to follow the information since I had just been through the process. But I also learned new facts that are critical once one faces medical procedures and costs. So far I've just paid my monthly premiums.
Kahan does an admirable job of describing a complex system, ending each chapter with "Key Points" and "Bottom-line Recommendations." Chapter 7 "An outline for Decision-Making" is especially valuable to the first time enrollee. Part two: "Using your Medicare Plan" is the section you will likely refer to repeatedly in the future.
The book will be a valuable addition to my personal library as we encounter the need for medical procedures and payments. Although one can switch from traditional Medicare to Medicare Advantage plans during the annual enrollment period. You can switch between the two plans and within Medigap and Advantage plans during the annual enrollment period.
There are lots of misconceptions and misinformation bandied about regarding Medicare. Having incomplete or incorrect information can be very costly! So buy this book and refer to it as needed. Children of older parents: buy the book, read it to make sure your parents don't miss sign up deadlines and Help them navigate a complex program as they age and need more guidance.

February 24, 2016

Personal Finance book

How To Make Your Money Last: The Indispensable Retirement Guide.
"With How to Make Your Money Last, you will learn how to turn your retirement savings into a steady paycheck that will last for life." This comprehensive new book covers the latest changes in Social Security and health insurance.
Read the first chapter at: 
http://janebryantquinn.com/janes-books/
Quinn’s guide to personal finance covers the usual terrain: budgeting, consumer debt, mortgages, college funds and investments. However, not every financial writer is blessed with Quinn’s charm-a blend of Pollyanna and Mary Poppins with a snappy wit thrown in-and her sensible approach to streamlining one’s financial life make this a stellar entry in the genre.—Publisher’s Weekly

June 11, 2015

Make your money last as long as you do

While there are a variety of strategies for spending down retirement investments to try to last for a lifetime, the only sure way to accomplish this is through the purchase of single payment life annuities (SPIAs). Lewis Mandell, Ph.D. explains why annuities are ideal for accomplishing this task in his book "What to do when I get stupid: A radically safe approach to a difficult financial era." See: http://lewismandell.com/. At the same time that our ability to make prudent financial decisions declines with age (after peaking at age 53 and really declining after age 70), confidence in our abilities actually increases! This is a scary combination well documented by extensive research. "The two major questions posed in the book ask how we can generate sufficient guaranteed real income to last the rest of our lives, not matter how long we live and what are the best ways to protect our lifetime income against possible irrational decisions of our future selves" (p. 152). This is a MUST READ for everyone approaching or in retirement AND for their children. I've heard too many stories of how elderly parents were taken advantage of by financial professionals with dubious interests, and by outright fraudsters, draining assets meant for heirs and leaving the adult children to support their parents.

January 7, 2015

How Spending can Enhance Happiness

The new year is a good time to reflect on our spending practices. In their book Happy Money: The Science of Happier Spending by researchers Elizabeth Dunn and Michael Norton reveal that how you spend your money may be more important to your happiness than how much you can spend. According to the author, you may be able to boost your feeling of well-being by spending money on others, paying for experiences, or using your money to free up time. According to reviewer and financial adviser Michael Kitces, the research “suggests that sometimes, the best things we can do to improve our happiness may lie in not trying to maximize our wealth, but instead focusing on experiential purchases (rather than ‘stuff’ that appreciates in value), spending money to buy time, and even spending money to support family and relatives instead of ourselves (which may not be cost-effective, but can be remarkably happiness-effective!).” Five ways in which money can “buy” happiness:

- Buy Experiences, Not Stuff
- Make It a Treat
- Buy Time
- Buy Now, Enjoy Later (remember Lay-a-way?)

December 20, 2011

Make Money, Not Excuses

A colleague recommended Jean Chatzky’s book Make Money, Not Excuses. “If you want to get rich, you need only do four things:
  1. Make a decent living
  2. Spend less than you make
  3. Invest the money you don’t spend
  4. Protect the financial world you build so that a disaster doesn’t take it all away from you
Sounds easy, I know. So why, then, is it so hard, particularly for women?”

Do yourself a favor and add Jean Chatzky to your reading list for 2012. If your local library doesn’t have Chatzky’s books, request that they order them. http://www.jeanchatzky.com/books/make-money-not-excuses/

Check out her blog at: http://www.jeanchatzky.com/. The blog post on “financial infidelity” sounds intriguing!

December 1, 2011

Money Talk: A Financial Guide for Women

Money Talk: A Financial Guide for Women ($23.00; 192 pages; 2009). This workbook teaches women the basics of smart money management.

Money Talk provides answers to questions like: How much do I need to save for retirement?; How much insurance should I have?; How and where should I invest my money?; and How do I create a will? Over 45 worksheets help readers evaluate their personal finances, set goals for financial well-being, and implement a plan to reach those goals.

The book is divided into five sections -- Financial Basics; Are You Covered? Insurance Basics; Investing Basics; Investing for Retirement; and Planning for Future Life Events. Each section includes lessons that demystify important financial concepts and exercises that allow readers to apply the information.

To learn more about the book: http://extension.missouri.edu/publications/DisplayPub.aspx?P=NRAES160

August 22, 2011

Elder Rights Resource Booklet


The Utah Elder Rights Resource Booklet
This 28 page resource was written by Jilenne Gunther and published by the Utah Division of Aging and Adult Services. Table of Contents:
  1. Protecting Yourself against Scams and Sales
  2. Knowing Your Consumer Rights
  3. Preventing and Protecting Yourself from Abuse
  4. Caring for Grandchildren
  5. Learning about Benefits
  6. Obtaining Medical Insurance
  7. Finding Housing Options
  8. Organizing Your Assets: Estate Planning
  9. Keeping the Power: End-of-Life Planning
  10. Making Arrangements: Death of a Loved One
  11. Getting Legal Help: Where to Go from Here
The author is willing to speak to groups on any topic in this book. 

Contact:
Jilenne Gunther
Legal Enforcement Counsel
Utah Division of Aging and Adult Services
jgunther@utah.gov
801-538-3910

August 14, 2011

Financial guidebook for widows

Widowhood can be a devastating life event.  Friends and family members may offer to help but we often feel helpless in providing support. Providing the widow with a copy of this book may be the most valuable help you can offer. 
Kathleen Rehl’s book, Moving Forward on Your Own: A Financial Guidebook for Widows.
Quotes below are from the web page which also provides ordering information for this award winning book: http://www.kathleenrehl.com/
“A husband’s death is possibly the most devastating event a woman will experience. She may wonder, “Am I going to be able to make it on my own?” She may feel overwhelmed and not know what to do next.
“This guidebook helps widows begin to feel more secure about their financial matters, serving as a catalyst to assist women make progress after a spouse's death. It integrates basic financial information with self-reflective exercises to encourage self-confidence about money issues. Written in an easy-to-understand manner, it's presented in a beautiful format--to help heal a woman's soul while gently focusing on money matters.
“Widows transitioning into their new financial life may use this book on their own or with the guidance of a professional. Grief support group members can use this book together. Or, it may be given as a gift to a family member or friend who is widowed.”

June 12, 2011

Get a Life You Don't Need a Million to Retire Well

Get a Life: You Don't Need a Million to Retire Well
While I'm always encouraging people to invest more for retirement, this is one of my favorite books.  Read a free chapter online at: http://www.nolo.com/products/get-a-life-LIFE.html

"The financial-service industry wants you to believe that in order to avoid financial destitution, you need to put aside huge amounts of money that you -- let's say it together -- "should have begun saving years ago."

Not true, states Ralph Warner, Nolo co-founder and the author of Get a Life. Although a sensible savings plan makes good horse sense, many other actions and decisions will determine whether you enjoy your retirement years.

Get a Life shows you how to beat the anxiety surrounding retirement, and to develop a plan to make your golden years the best of your life by:
  •     developing family relationships
  •     maintaining and creating friendships
  •     improving health
  •     keeping active
  •     developing a robust curiosity for the world
  •     realistically calculating how much money you need and how to secure it
The 5th edition provides the latest research and studies that show physically and mentally active retirees live longer and enjoy happier lives."

May 22, 2011

Social Security Fix-it book

Confused about Social Security? Worried that it won't be there for you? Frustrated with the lack of action by Congress to deal with the looming financing problems? Wondering who to believe?

The non-partisan Center for Retirement Research at Boston College has produced an easy to understand educational tool to clear up the confusion and point the way toward a reasonable solution: "Everything the earnest but overburdened citizen needs to know about the Social Security financing shortfall and the leading proposals for addressing the problem."

Available at:
http://crr.bc.edu/images/stories/Special%20Projects/social_security_fix-it_book.pdf

This colorful, illustrated, easy-to-understand booklet explains the problem (No, SS is NOT going bankrupt!) Decide for yourself (and your multi-generation household) what steps you would like your Congressional representatives to implement to resolve the funding problem before delay makes it worse. Go ahead! Click the link above. I think you will be pleasantly surprised to discover that the problem is solvable.

April 17, 2011

How to conquer killer markets, con artists, and yourself

The little book of safe money: How to conquer killer markets, con artists, and yourself
by Jason Zweig, personal finance columnist at the Wall Street Journal.  I haven't read this yet but Zweig is one of my favorite finance writers. Zweig interprets research in psychology, economics, and neuroscience as they relate to personal finance. 
“This book is the latest in John Wiley's "Little Book Big Profit" series. The purpose of the series is to bring the brightest minds to readers so they can pick and choose from the best investment advice available. The book's 22 chapters live up to this purpose, giving the reader solid, research-based and practical information about investing.”
“Zweig offers three commandments related to investor risk-taking. He follows with the importance of budgeting and reducing debt, realizing that you cannot have both low risk and high yield in the same investment and knowing the six basic rules for keeping cash safe. You'll learn why money market funds don't belong in a retirement account but TIPS do.”  Learn much more from this perceptive writer who can translate complicated research concepts into practical advice.  (quotes from review by CFP® Jon Ford).

Available as an E-audiobook from Logan Library.

February 21, 2011

Spousanomics: Love, Marriage & Dirty Dishes


“Housework—who does what, when, and how often—is the source of many a recurring marital complaint. Splitting chores 50/50 often seems like the answer, but couples who do often find themselves as resentful and unhappy as couples who set up no plan for dividing the work that makes a house run.”
If this sounds intriguing, check out the website and especially the comments “from the community” at the end.  I recommended that Logan Library buy this book!
“The authors, both accomplished journalists (Szuchman: Wall Street Journal and Anderson: New York Times, where she spent years covering Wall Street and delivered award-winning coverage of Merrill Lynch) decided the time was right for an economics-approach how-to for a successful union for a few reasons. One was a pretty tough first year of marriage for Szuchman, who was surprised it was harder than she thought to merge two lives and that “something as banal as housework could get in the way” of all the fun she heard people were having being married. Another was the prevalence of economic terms suddenly in the national lexicon at the time of the financial meltdown.”
Spousanomics: Using Economics to Master Love, Marriage, and Dirty Dishes.

January 31, 2011

The Paradox of Choice


So much of the “consumer” oriented literature tries to convince us that more choice is better.  However, if you’ve ever been overwhelmed by choice at the grocery store or in other arenas of life, this book is for you.  How many types of shampoo, cookies, or soda pop do we really need? Of course the operational word in not “need,” nor, often enough is it “want.”  I recall my first visit to a US grocery store after returning from Nepal; the overwhelming abundance of consumer products seemed so ridiculous and unnecessary.  The experienced reinforced the incredible inequities in the world. So it was refreshing to read Prof. Schwartz’s book The Paradox of Choice: Why more is less. Backed by extensive research (presented in easily digested stories), Schwartz provides perspective on the topic of whether more choice is what we need.  With respect to the health care debate, more choice is NOT what consumers want when they don’t have the tools or information to sort through the options.
Find out whether you are a satisficer or a maximizer and what that means for your role as a consumer of services and goods, and the implications for your mental health and perspective on life. Which are you and what about your partner or spouse? True confessions: I’m a satisficer and I no longer feel any guilt when settling for “good enough.”
Although research-based, the book was written for the general public and sure helps put some perspective on our complicated world. Check it out at your local library.

January 26, 2011

Free Books from Nolo Press

Nolo Press is a wonderful source of information for personal finance, retirement planning, and legal issues of all sorts from divorce to living together to starting a small business and much, much more. Check them out at http://www.nolo.com. In addition to selling books on legal topics, they offer a vast amount of information for free on their website. Read a chapter from a book to see if it's what you really want before purchasing. In addition to traditional books, they sell e-versions of most of their publications. And now they are offering some of their books for free on their website; check it out at: http://www.nolo.com/legal-encyclopedia/free-books/
Free titles include: 8 Ways to Avoid Probate, Renter's Rights, The Foreclosure Survival Guide, Everybody's Guide to Small Claims Court, and more. What a fabulous resource! Bookmark the Nolo website.

January 12, 2011

Plenitude: The New Economics of True Wealth

Wondering where our economy is going with the prolonged high unemployment? Business as usual is NOT the answer. For a refreshing and challenging perspective, and for support if you are changing your lifestyle to a less consumption-oriented way of life, read Juliet Schor's book.

"In Plenitude: The New Economics of True Wealth, economist and bestselling author Juliet B. Schor offers a groundbreaking intellectual statement about the economics and sociology of ecological decline, suggesting a radical change in how we think about consumer goods, value, and ways to live.

Humans are degrading the planet far faster than they are regenerating it. As we travel along this shutdown path, food, energy, transport and consumer goods are becoming increasingly expensive. The economic downturn that has accompanied the ecological crisis has led to another type of scarcity: incomes, jobs, and credit are also in short supply. Our usual way back to growth — a debt-financed consumer boom — is no longer an option our households, or planet, can afford.

Responding to our current moment, Plenitude puts sustainability at its core, but it is not a paradigm of sacrifice. Instead it’s an argument that through a major shift to new sources of wealth, green technologies, and different ways of living, individuals and the country as a whole can actually be better off and more economically secure.

And as Schor observes, Plenitude is already emerging. In pockets around the country and the world, people are busy creating lifestyles that offer a way out of the work and spend cycle. These pioneers’ lives are scarce in conventional consumer goods and rich in the newly abundant resources of time, information, creativity and community. Urban farmers, D.I.Y renovators, Craig’s List users, cob builders — all are spreading their risk and establishing novel sources of income and outlets for procuring consumer goods.
Taken together, these trends represent a movement away from the conventional market and offer a way toward an efficient, rewarding life in an era of high prices and traditional resource scarcity.

Based on recent developments in economic theory, social analysis, and ecological design, as well as evidence from the cutting edge people and places putting these ideas into practice, Plenitude is a road map for the next two decades. In encouraging us to value our gifts — nature, community, intelligence, and time — Schor offers the opportunity to participate in creating a world of wealth and well-being."
http://www.julietschor.org/the-book/
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