Product Description
FROM THE BACK COVER: Are you caught up in the financial thinking of the last century? That's when we learned to buy a home and pay it off as quickly as possible. It made sense in the conditions that existed back then. It doesn't make sense today. How would you like to: 1) Safely leverage and compound assets you didn't realize you had? 2) Become your own bank and build family wealth? 3) Pile up stock market gains, but never take the losses? 4) Lock-in a rich, secure and carefree retirement? 5) Transform the IRS into your wealth-building partner? 6) Create real wealth, empowering you to help others? 7) Get to your existing retirement funds with little or no taxes? 8) Leave a fortune to your heirs? STOP SITTING ON YOUR ASSETS make these strategies crystal clear -- and you can apply them with security and ease. If you own a home, you owe it to yourself to know about today's new reality: You are sitting on a potential fortune that can safely and confidently be put to work to build a massively abundant financial future. A future so rich that -- before STOP SITTING ON YOUR ASSETS -- could have only existed in your dreams.
Customer Reviews:
Home Owner Beware.......2007-10-17
This will be short. I have already wasted enough time ready the book (actually I stopped reading in Chapter 9) At first, I thought the examples were funny and than I realized there may be people reading this book that actually are taking notes. This is intended for those few. Seek out the help of a Professional Financial Advisor. This book should come with a warning label.
don't waste your money on this book or its strategy.......2007-10-05
First of all, the author has enough material for a magazine article at best and she has padded and stretched it into a book. That makes for an annoying read.
Secondly, her math is deceitful. She says to borrow the equity from your home at 8% and put that money to work getting an 8% return and you will end up with a huge pile of money. What about the payments? Oh, yeah. She subtracts those as a lump sum at the end from your pile of money. Everyone knows the payments have to made every month so if you're borrowing at 8% and getting an 8% return you're simply going to break even. If you're as smart as a fifth grader you know that math calculations have to be performed in the correct order or you'll get the wrong answer. She also gives an example of someone who could pay cash for a house but takes out a mortgage anyway and invests the money. She conveniently ignores the fact that the person could simply pay cash for the house and then invest what they would have made in payments each month and that money would grow to almost the same amount as her "safety fund"
The third problem with this strategy is that the only way to get this 8% tax free, totally safe return is to buy a questionable insurance product that she or her friends will be happy to sell you. Then you'll have the IRS looking over your shoulder.
I'm not a big fan of a mortgage free house for a number of reasons but if you're going to harvest equity and invest it, you'd better know what you're doing. For the average person it's way too risky.
Start saving some money by NOT buying this book.
This book has been done before, called Missed Fortune 101.......2007-09-22
Sad to see people trying to ride the coattails of another book and rip it off so blatantly. The orignal book called Missed Fortune 101 introduces the world to these strategies. Well Stop Sitting comes in and basically changes a word here and a word there to try and be different. For example Missed Fortune 101 talks about "going down the highway of life with one foot on the gas and one on the brake" Ms. Snow talks about going down the highway with 4 flat tires and a broken windshield...Come on!
Read Missed Fortune 101 Missed Fortune 101: A Starter Kit to Becoming a Millionaireto read the real story first, Read Stop Sitting for a rehash, if you like that kind of stuff...
I know I'm gonna write a book called Elbib and have it start out with a guy named Aaron and a girl named Emily who live in the jungle, then get kicked out of the jungle for eating the forbidden vegetable...
Looking for answers.......2007-08-19
I, too, was in awe after reading this book. The ideas are presented in a simple, easy to understand way, and it seems to me to be very logical. I'm no financial genius, rather a former math teacher and the numbers seem to work on paper. But, really, after the awe has worn off and reality hits, what's the catch? This seems too easy. If this idea has been in existance for several years, then why hasn't it caught on with the "masses?" Why don't more financial advisors recommend this? Is there something I'm missing or does it really work that simply and just nobody knows about it? Somebody....give me the real scoop!
Very, Very dangerous book.......2007-08-02
As I began to read this book, my first challenge was to get over the unearned arrogance of the author. Marion Snow may have a "scientific mind" and have a little experience in the mortgage industry selling people mortgages, but she is no financial planner.
The book is absolutely full of errors and misrepresentations of how some very complex financial products work. She literally demonizes financial planning professionals who have spent years of their lives helping clients and studying the ever changing landscape of both financial planning, estate planning, as well as the Internal Revenue Code.
Some of her VERY dangerous errors are as follows:
First, nearly all of her calculations discuss saving taxes at a 30 or 33% tax rate. While this sounds good, the average American is nowhere near the 33% tax bracket. The 33% tax bracket does not begin for most married Americans until they have over $195,000 of annual income.
Secondly, the insurance products that she describe do not function as she indicates. On page 110, she casually mentions that her insurance strategy will work as "long as you are careful not to deplete your cash value." She does not mention that the "tax advantaged policy loans" she advocates are 1)charged interest by the insurance company, and 2) taxable if the policy lapses in later years. Additionally, she neglects to mention that Universal life policies have increasing costs which will cause them to lapse using her strategy.
Third, all of her calculations are "assumed and hypothetical." They do not address real numbers. About halfway though the book she indicates she "got her insurance license" just to verify her findings. Unfortunately, an insurance license is viewed by most credentialed financial planners with the same reverence that training wheels are viewed by Olympic bicycle racers...
Fourth, her mortage strategies advocate taking illegal tax deductions - the tax deductions she describes are not allowable to the degree the advocates, in the tax brackets she uses as examples. The deductions "phase out" well before a taxpayer can use them to the degree she illustrates. Simply put - the numbers are INCORRECT.
Ms. Snow should spend a few years in school and learn what she is talking about - and a few more years working with real world financial clients -before being arrogant enough to throw stones at those who do.
She is flat wrong in many areas and will hurt a great many people who take her cutesy approach to financial planning seriously.
Jon - CFP, ChFC
Book Description
This is the same diagnostic system I use with my own clients and with the financial advisors I train. So, going through it will be like having me sitting beside you, whispering in your ear, guiding you every step of the way.”
–from Your Complete Retirement Planning Road Map
Corporate pensions are disappearing. Social Security is in trouble. And the sizable postwar generation is reaching retirement age. With the futures of millions of Americans at stake, Ed Slott, the country’s foremost retirement planning advisor, now offers expert advice on weathering the perfect storm of financial instability that looms on the horizon. Your Complete Retirement Planning Road Map, Slott’s most essential and accessible book yet, provides clear step-by-step directions through the highways and byways of IRAs, 401(k)s, 403(b)s, and other major accounts.
In five helpfully focused sections, Slott combines crucial facts with interactive checklists and questionnaires (those he uses with his own clients) to teach investors and beneficiaries alike the best way to save and to maximize an inheritance. Inside you’ll discover
• My Account Inventory: an overview of every retirement savings account you own, whether you’re thirty or sixty-five–from what it is and where it is to who gets it and how, plus where to put important data for easy access and where to store your essential documents (hint: not in a safe-deposit box)
• The Account Owner’s Care Solution: how to properly fill out retirement account beneficiary forms so that whatever amount of money is left in your account after you’ve fully enjoyed retirement will go to whomever you choose and not to relatives who suddenly pop up out of nowhere
• The Account Beneficiary’s Care Solution: what to do when you inherit so that you won’t lose any of the tax benefits and other opportunities your benefactor has created for you, or make a mistake that could wipe out an inherited fortune that took years to build up
• The Special Issues Care Solution: how to handle the out-of-the-box issues that could affect you or your beneficiaries (e.g., life events such as divorce or incapacity; tax issues for unmarried partners; decisions about trusts)
• The Follow-up Care Solution: how to keep your planning on track and make adjustments when circumstances change, and how to determine whether your professional retirement advisor is really up to the task of preserving and protecting your money
• Plus: the most up-to-date information on tax laws, including the Pension Protection Act of 2006, which provides major new retirement incentives that you can take advantage of
Your Complete Retirement Planning Road Map is an indispensable planning solution that is sure to become the standard how-to on a complex subject that is becoming relevant to more people every day.
Customer Reviews:
A Financial Guide, not a Complete Guide.......2007-02-19
To me the title of this otherwise excellent book is somewhat misleading. It should say something like 'Your Complete FINANCIAL Planning Road Map.' That is, it doesn't go into things like should you move to the sunbelt, or how much money will you need, or medical aspects or any of these other subjects. Instead it is a very complete discussion on the tax issues of investing for retirement.
This book talks about IRA's, and Roth IRA's, and 401(k)'s, and all the other alphabet soup of the tax system in the United States. It is complete and up to date as recent as the 2006 changes to the tax laws.
A major part of the book consists of check lists that you should go over as part of your retirement/estate planning. These also are very well thought out and force you to think about things you would otherwise ignore.
A minor complaint, these checklists are printed in the book. I'd much rather see them on the web or in a CD bound into the book. He says you should fill them in using pencil in case you later want to make changes. I'd like it better to fill them in on a computer and then print them out. Once again, the information is there and more complete than you'd imagine, so you can consider this a minor complaint.
Enough info for a.........2007-01-26
small pamphlet, not a full size book. Rambling and repetitious. Read it twice and couldn't extract any useful information that wasn't available in other sources.
Comprehensive and Infinitely Practical--A Must Buy for Every IRA Owner.......2007-01-23
Ed Slott's latest book, Your Complete Retirement Planning Road Map provides the most comprehensive, infinitely practical, hands-on set of checklists I have ever seen for IRAs and retirement plans. Ed, perhaps the best known and most trusted author on IRAs and retirement plans, takes the reader step-by-step through important concepts regarding IRAs and retirement plans and provides the reader with an action plan. Ed really rolls up his sleeves and gets into the nitty-gritty. Another outstanding feature of the book is that Ed has included the best questions--with complete answers--gathered from his clients and readers over the years. Chances are if you have a question, it has been asked of Ed, and you will find your answer. If you buy Ed's book and follow his recommendations, you will be better prepared and better documented than 99.9% of all the IRA and retirement plan owners.
James Lange, CPA/Attorney Author of Retire Secure! Pay Taxes Later: The Key to Making Your Money Last as Long as You Do
Mastering the complex with simplicity.......2007-01-22
I have personally been studying with Ed Slott in his Master's Elite IRA Advisory Group for the past two years. This new book is a composite of the various modules we have been studying in depth. This book gives an excellent overview in a version to be understood and simplified so that many can be aware of the many issues present in dealing with the one asset that for many represents their largest financial position. I applaud Ed's efforts to make such a text available and appreciate the opportunity I have had personally to train in depth in all of the issues detailed in his book. I would also commend serious readers and investors to his two earlier books my favorite of the two being, Retirement Tax Time Bomb and How to Defuse It. Anyone with a large IRA should be aware and get the book. It could make a tremedous difference in who ultimately winds up the beneficiary of all your hard long years of labor.
Same Rules, Easier to Understand.......2006-12-30
I have read all three of Ed's IRA books. As a Financial Planner, I find the Retirement Savings Time Bomb to be the best. However, if you are slightly less versed in tax code than a professional planner, his newest book is an excellent tool. I strongly recomend it to all (non-financial professional) qualified account owners. Good Job Ed!
Product Description
By the early 90s, a raging bull market was delivering spectacular returns, causing some to believe that a market collapse and subsequent depression would soon appear. As a result of these fears, some exited the capital markets altogether. Thereafter, the Internet took off causing the market bubble to swell, many high-tech stocks with seemingly limitless valuations. Over the course of its 13-year stretch, the market appreciated by over 600 percent, with average annual returns in excess of 18 percent. And we all remember what happened at the start of the new millennium. Even after the deflation of the Internet bubble, cautious investors who pulled out of the market a decade earlier missed out on spectacular returns since then. Many investors who entered the market near its peak suffered devastating losses. But most who remained invested since the early 90s are still much better off today. While this correction revealed the most recent illusions embedded within the economy, it s only a small part of what will be a larger correction in the coming years. Despite the scandals in corporate America and Wall Street, many investors fail to recognize that the post-bubble period is quite different from the Bull Run in the 90s. But today, the capital markets have been realigned with authenticity, and economics now control the investment cycle rather than hype generated by Wall Street. Accordingly, Wall Street and the U.S. Government can only hide the realities of America s decline for so long. Unfortunately, America entered the free trade paradigm as a losing participant from the start. While America remains as the centerpiece for the global economy, it relies on record debt to maintain its status as the world s strongest consumer marketplace. But this cannot last much longer. America s vulnerable role in the new economy threatens to erode the strength of its empire. Already, America has witnessed a gradual disappearance of its core citizens; the middle class. As well, poverty continues to grow while America s wealthiest quintile increases their wealth. These trends have been masked by record levels of credit-based spending and manipulation of economic data. For over two decades, several nations have benefited at the expense of America s job base and living standards. This led to a long period of excessive consumption relative to productivity. When the economic boom from the post-war period began to lose steam in the 60s, consumption began to exceed productivity, as Americans refused to acknowledge a decline in living standards. Up until the 70s, America fueled this consumption-production disparity using the surplus wealth generated during the post-war boom. During the 80s, America s growing consumption was compounded by massive government spending and a devastating oil crisis. Shortly thereafter, the consumer credit industry grew to meet the demands of a nation experiencing large productivity deficits. And today, America is vastly different than the post-war period. Rather than increases in net wealth, America s growth over the past two decades has been fueled by credit spending which has created the illusion of impressive productivity, while serving to mask declining living standards. As a consequence of these changes, America s financial industry is now one of its biggest and most profitable. Today, America is more dependent on foreign nations than anytime in its history. Declining oil reserves and a foreign-funded credit bubble have positioned the fate of this nation in the hands of the world. Soon, America will face the economic burden of 76 million aging boomers. Beginning in 2011, mandatory expenditures for Medicare, Medicaid and Social Security will start to grow rapidly. By 2025, these expenses will have swelled to unthinkable levels.
Customer Reviews:
Excellent presentation of data, some mistakes.......2007-10-11
The author did an excellent job compiling data that is extremely important to understand if one is to thrive in America in the next 2 decades. There will no doubt be sweeping changes to rectify our current account deficit and aging boomer population. The author shed light on the politics behind Greenspan & Co's delay when our country needs to address these problems now. Other topics include: the .com bubble, real estate / credit bubble, free trade, health care, social security, energy crisis, and education.
Yes there are typos and some minor implications that are incorrect, but I don't believe they affect the overall concepts presented. I have also read "The Dollar Crisis" and find both books to be honest presentations of America's current economic state. I would have enjoyed even more information on developing nations, but the title of the book focuses on America, so be it. Overall, I felt this book was an excellent read that is neither conservative nor extreme but simply a presentation of data and well-thought hypothetical analysis of what is to come for America. Only the typos keep it from getting 5 stars.
Riddled with inaccuracies.......2007-07-30
This book manages to cover all major problems faced by the United States in the next 20-30 years - trade deficit, healthcare crisis, education crisis, etc. - and it does so in a fairly comprehensive way, with large numbers of facts and graphs.
The reason why I can't give it more than 3 stars for this achievement is that the number of mistakes it contains (from misspellings to factual errors) is absolutely incredible. It seems that no one (other than the author) so much as read the book before it went to the printing press.
First of all, there are spelling errors. English is not my native language, yet I've been able to notice one spelling error every 20-30 pages. "Notices in-lue of gold" (p.2). "Right to bare arms" (p.25). "America will loose its technology edge" (p.61), and so on. There are factual errors as well. According to the author, Statue of Liberty was erected on Ellis Island (p.27), Berlin Wall fell "a few years" after 1991 (p.10), and Albert Einstein immigrated into the United States in 1940. He thinks that women who give birth after entering the United States illegally are guaranteed citizenship because their newborns become U.S. citizens (p.32) - but he either does not know or fails to mention that they have to wait for their child to turn 18 before they even have a shot at legalization. He frequently claims (or implies) that Chinese goods are cheaper because Chinese government and Chinese companies do not provide healthcare or retirement benefits to their workers (p.41), when in fact they do. All these problems make me wary of any other claims he makes in his book.
There are many interesting graphs and charts in the book, but at least some of them were "cooked up" by the author from third-party data, so they are not always reliable. One rather puzzling chart is located on p. 113. It is a pie-chart labelled "Factors Driving Rising Costs in Healthcare (2001-2002, in $ billions)". However, pieces of the pie are labelled with percentage values and clearly add up to 100% (e.g. "Increased Consumer Demand, 15%"). Author comments, "Someone explain to me the economics of increased consumer demand leading to a 15% increase in healthcare costs in one year". It's clear that he has no idea what's really shown on the chart.
The book is heavy on portrayal of various weaknesses in modern U.S. economy, but rather light on attempts to predict the future. There is almost no discussion about the impact of American crisis on the rest of the world. Author predicts major revaluation of the dollar, but does not provide any macroeconomic analysis of consequences of this revaluation. He seems to think that collapse will not occur at least until 2012, but he's not very clear why he thinks it won't be triggered by deflation of the real estate bubble.
Overall this is an interesting and comprehensive book that's worth reading for anyone who thinks that U.S. economy is doing well, but it's not scientific or reliable enough to be of real value for an investor.
I recommend "Dollar Crisis" as a complementary treatment of the U.S trade deficit / credit bubble problem.
A chilling but accurate expose of how we came to be in such economic peril as a capitalist nation.......2007-06-10
In writing "America's Financial Apocalypse: How To Profit From The Next Great Depression", the author draws upon his many years of experience and expertise as a business, financial, and investment consultant for two of Wall Street's largest investment firms and elsewhere in private financial markets. Strathis provides an impressively analytical explanation as to how the liberals on the left and the conservatives on the right are working in differing ways to destroy America's fiscal and economic well-being; how the federal government in Washington is dominated by corporations; how China has taken total advantage of America's trading policies to our nation's detriment. Readers will be shocked to learn how America is legally bankrupt; how today the 'American Dream' cannot be achieved by most American citizens; the truth concerning the future of Social Security; the inevitable and looming consequences of the present pension plan crisis; and why most Americans working today will not be able to retire as their parent were able to in the past. "America's Financial Apocalypse" also addresses just how the American government manipulates economic data; how the Bush administration is responsible for the worst economic recovery in American financial history; how the real estate bubble could cause the stock and bond markets to collapse; how America's political and economic fate is in the hands of foreign countries; why the American government is really allied to the Saudi Arabians despite the established identities of the 9/11 attack; the looming global oil crisis; Alan Greenspans dismal performance as a Fed Chairman; the plummeting value of the dollar in the international currency markets; and the continuing rise in value of precious metals and oil. After laying out all of these 'inconvenient truths' about America's economic future, Strathis also lays out how the wise and savvy investor can still profit from an inevitable depression that will collapse America's economy in the very near future. A chilling but accurate expose of how we came to be in such economic peril as a capitalist nation, "America's Financial Apocalypse" is especially recommended reading for its clear and methodical explanation of just how the individual investor can survive what will prove to be the 'Next Great Depression'.
This Book Has NO Comparable!.......2007-04-05
Finally, an insightful, detailed, and massive compilation of America's economy and investment markets. This book is HIGHY recommended.
The reviewer below is actually wrong in his simplistic assumption that deflation is the exact opposite of inflation. While deflation tends to cause a relative increase in buying power, this effect is only when deflation is modest and in the early stages. During a more prolonged period, deflation creates a decline in GDP and therefore purchasing power due to the relative effects on currency exchange rates.
I find it amazing that a person could give such a bad review over one statement that he thinks is wrong (when in fact it is not) despite all of the massive data and extensive coverage of material. If a reader chooses to cherry pick from within a massive resource such as this book, they will miss the forest from the trees.
Hold on there...........2007-04-05
After spending $55+ for this book, I started to leaf through it and promptly came across the following comment: "...rising gold prices usually result from a deflationary economy not an inflationary one, as investors seek to minimize the loss in buying power of their currency." So far as I know, a deflationary environment INCREASES the buying power of one's currency, as prices generally decrease during a deflationary episode. In other words, one can buy more loaves of bread per dollar in the bank. Gold is generally a hedge against inflation or fiat currency collapse, not deflation. Given what seems to me a basic error of this nature, I will be skeptical of other information in the book.
Book Description
For baby boomers reaching retirement age and the millions of other Americans who keep most of their assets invested in IRAs, 401(k)s, and similar retirement plans, financial expert Ed Slott's eye-opening guide is a must-have resource to help protect those savings from the IRS. Through his simple 5-Step Action Plan, Ed Slott's down-to-earth, clear-cut, and often humorous approach shows everyday investors how to distribute, roll over, withdraw, and secure their retirement savings (and their inherited nest eggs) against Uncle Sam.
Customer Reviews:
Little known retirement bombshells.......2007-08-16
This book outlines what boomers (and others) should know about their retirement finances. Few know what the problems might be when they transfer or start accessing retirement money. Fewer still will bother to find out and even fewer will act on the information. What "The Retirement Savings Time Bomb.." discusses is how to prevent unneccessary taxable acts when accessing the money and even how to access funds early (before 59 1/2). Finally, he talks over reasons for converting a regular IRA to a Roth IRA if it makes economic sense and how to minimize taxation in the long run. If I have one critical comment about the book, I feel the information is directed toward individuals who have more retirement savings than I. Regardless, I still will benefit from the information provided.
Complicated Laws Made Accessible.......2007-03-11
Who would have thought that something as simple-sounding as an IRA would require care and feeding and attention to avoid a huge tax consequence down the road. Ed Slott holds your hand through an extremely detailed explanation of the complicated and changing maze of our IRS Code that can cost you much of your investment's earnings if you don't know how to navigate. And just when you thought you were beginning to understand the beast, he unveils yet another aspect of the law that's waiting to reach out and grab you. You'll refer to his richly loaded chapters again and again as you plan and construct your financial defenses.
IRAs Explained in Plain English.......2007-02-02
As a financial planner I know that IRAs are perhaps the most complicated area of finance. I also understand that mistakes in IRA planning can cost your family hundreds of thousands of dollars or more. Ed Slott is THE IRA expert and is able to explain IRA issues in plain english.
Matthew Tuttle, author of "Financial Secrets of my Wealthy Grandparents"
Retirement Savings Time Bomb.......2007-01-09
I am in the financial service business and really found this book to be of great help to me. There were many of the rules about IRAs that were werer unfamiliar to me. It has helped me professionally. I recommend it to anyone that has an IRA or is going to roll over a pension plan or 401(k)plan. It will save you from making some mistakes that could be costly in taxes.
Good information.......2007-01-06
It's not the kind of book you like to read but it was one we needed to read. It did the job well, every one our age, mid 70's, need to think about the end times and be sure you have mad sound decisions, it helped with our piece of mind.
Book Description
In today’s volatile financial environment, growing numbers of investors are looking to flee the stock market in search of safer ground. While the bond market has often been a “safe haven,” confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to choose the correct fixed income investments. The Bond Book provides investors with the information and tools they need to make bonds a comforting, important, and profitable component of their portfolios. Thoroughly revised, updated, and expanded from its bestselling first edition, this all-in-one sourcebook includes: *A new section on using the Internet to research, buy, and sell bonds *A new chapter devoted to increasingly popular foreign bonds *Detailed information on the inflation-linked Treasury bonds *Explanation of the new categories of bond funds *Tips on how to evaluate and buy bond funds
Customer Reviews:
A solid introduction.......2007-09-28
A great introduction to bonds and there place in a portfolio. The perfect place for the individual to start if they are considering purchasing individual bonds for their portfolio.
However, anyone looking for more in-depth information and strategies will likely be disappointed. Relatively little information about Zeros, TIPS and other products that are likely to be of interest. Start here, and then increase your knowledge with a title specific to your interests (i.e. municipal bonds, etc.).
God book but too general.......2007-01-04
I ordered this book for my business library. I enjoyed the book, but if you want more specifics on the methods of detailed bond calculations, I would recommend a good financial investments text book.
Primer on Fixed Income Products.......2005-09-09
Am nearly finished reading the 2nd printing of this excellent tutorial. Although I have been an avid buyer & seller of fixed income products for many years, the author did a superb job of furthering my mid-level expertise especially in the area of municipal bonds. Her plain language explanations were most welcome as opposed to the plethora of financial techno-babble tomes that share the bookshelf. 5 Stars without reservation.
Too Complicated.......2005-04-19
Thau over complicates her points. The book is too difficult to understand. I am an attorney who has been investing in stocks and bonds for over 10 years. This book is not appropriate for any level investor.
Highly Recommended!.......2004-12-22
This is an accessible introduction to bonds by a financial professional whose first book - as unlikely as it may seem - was a study of Max Jacob, the French poet. The literary background of the author, Annette Thau, may account for her book's clear, easy-to-read style. Most authors who write about bonds tend to get lost in the complex mathematics and specialized jargon of the bond markets. Not Annette Thau. Whether you are an individual investor trying to balance your portfolio with bonds, or a student of finance looking for a more lucid explanation of the subject than you can find in your textbooks, we highly recommend this book to you.
Book Description
The Grangaard Strategy equips retirees-and those contemplating retirement-with 12 powerful principles for managing assets during every phase of retirement, including the crucial pre-retirement years.
Based on a groundbreaking new asset management theory presented by renowned financial educator Paul Grangaard, this book explains how to maintain inflation-proof income throughout retirement, without significantly depleting retirement assets. Readers will learn to:
€ Replace paychecks with retirement Income Ladders
€ Calculate how much they can afford to put into higher-return stock market investments
€ Avoid the worst advice in the financial markets
€ Understand compounding, investment returns, and holding periods
€ Take advantage of tax-deferral and protect retirement income against inflation
€ Prepare a flexible plan for dealing with the unexpected
€ Confidently choose the best financial advisor
Customer Reviews:
Informercial in book form and not much else.......2004-02-23
Buy this book to see how someone can effectively mount a very good marketing program. But don't expect to find anything other than platitudes when it comes to financial planning. The material is quite elementary.
I'm guessing somewhat here but I'll bet that Mr. Grangaard's approach to building his business includes:
- Go onto TV and sell his book.
- Load the book review input with 5 stars.
- Get the book buyers to sign up for Grangaard trained financial planners.
- Sell the poor saps that to go these planners Grangaard sponsored products.
Don't waste you money or your time on this.
Forget it !.......2003-12-27
This book not only is worthless but actually it is risky ,to say the least;if you follow the recommendations of the author.
It reminds me of that famous book in the 80's "No Money Down",that made people (naive people) believe that not only could you buy real state with no money down and no credit ,but that actually you could walk away with money in your pocket!!!
Anyhow,I read at least 1 or 2 books a month on investment as well as on retirement;this book only enphasizes that you have to get a financial planner to "survive" ;obviously, the guy is a CPA himself,other than that,it is plain rubbish.There are tons of better and more informative books out there.
Invest for success with confidence..........2003-12-05
This book lays the groundwork for a bridge to financial freedom upon retirement. The twelve principles outlined in this text have worked for me and should work for all. Too many financial planners do not speak to their customers... this book clearly and concisely outlines a road map that will allow me to live comfortably through retirement. I'm recommending this book to my financial planner.
Common Sense Advice That Really IS.......2003-04-15
I've been helping people with retirement, financial, and estate planning problems for over thirty years, and this book is as good a source of SOUND, SENSIBLE advice on retirement planning as any I've found.
Retirement Planning isn't Rocket Science. But it CAN get complicated, particularly when you're listening to someone more interested in displaying his or her expertise than in helping you to understand what to DO. Alas, many advisors, even when they really ARE trying to help, inspire more confusion than understanding because they're focused on MEASUREMENTS. "Alpha", "Beta", "Standard Deviation", and the like. Those are mathematical measures, statistical concepts which sometimes (but not always) are helpful in understanding the statistics - the NUMBERS we deal with in financial planning. But financial planning isn't about NUMBERS. Rule Number One in my practice says -
"90% of financial planning is EMOTIONAL; only about 10% is about NUMBERS."
Paul Grangaard and Larry Atkins understand this VERY well. I've been privileged to talk with (and, sometimes, argue with) Paul and Larry on various occasions. Twice, we were speakers at the same financial planning event. I'm pretty good, if I say so myself, at speaking on retirement planning, but Paul's better. His delivery is so darned CLEAR, it's like a cold shower on a blistering hot day. And it's that way, partly because Paul's a heck of a public speaker, but MOSTLY because his MESSAGE is VERY SIMPLE and ABSOLUTELY TRUE.
If you want to understand WHY managing money AFTER retirement is COMPLETELY DIFFERENT from managing money BEFORE retirement, and ESPECIALLY if you want to understand how to deal with what I call "The One Big Risk" in retirement income planning, READ THIS BOOK.
The "One Big Risk" can be stated in the form of a question. It's this: "What are the chances that my account balance will fall to zero before my blood pressure does?"
MOST retirement planning methodologies are CLUELESS about this. Paul Grangaard's strategy understands it perfectly, and provides consumers (and ADVISORS who are willing to listen) with a sound, clearly understandable, and workable method of assessing and dealing with this One Big Risk.
Thanks, Paul and Larry, from a fellow practitioner and a big fan,
John L. Olsen, CLU, ChFC
Principal: Olsen Financial Group
St. Louis, MO
Absolutely Essential!.......2003-03-01
In 1996 I attended a seminar where I was first inroduced to Mr Grangaard's investment strategies. I attended another seminar in 1999. I've been strongly impacted, have used the material, and am succesful because of the strategies he teaches. I'm not surprised at all that a top New York publishing company saw fit to invest in getting Paul Grangaard's message out. I'm glad to see it.
Book Description
The #1 New York Times bestselling authors of the Rich Dad Poor Dad series deliver a financial plan to help Baby Boomers survive an impending economic crash. Anyone with a 401K knows that investing in mutual funds is not safe, or so claim Kiyosaki and Lechter. Even worse, they warn that a devastating economic crash is imminent because Baby Boomers will soon be required by law to drain trillions of dollars stashed in 401Ks, IRAs, SEPs, and other mutual-fund savings accounts as they start to retire. In short, the country's financial system won't withstand the drain, and relying on a 401K and Social Security will mean financial disaster. Here, Kiyosaki and Lechter provide a financial roadmap for readers to prosper during these troubled times.
Download Description
This is a "Gloom and Boom" book.First the bad news: Between the years of 2007 and 2012-just a few years from now-the vast majority of Baby Boomers will be on the verge of retirement-and they'll be looking to cash in on their hefty retirement plans. Quite frankly, the country is not prepared to handle this major drain of cash reserves, and there's every chance that peoples' lifelong savings will dramatically lose their value.And now, the good news:Sensing this financial crisis in the offing, Kiyosaki and Lechter provide a detailed financial plan to help forward-thinking people prepare for the worst-and they urge that one's planning start NOW. They go over a variety of alternative ways of generating wealth through other forms of investments, including real estate development, self-employment, and investing in other companies. Warns Kiyosaki: "I think we've all learned from this past year that mutual funds are NOT the answer to accumulating long-term wealth."
Customer Reviews:
Move along..........2007-03-17
There is nothing to see (read) here. You know now what you will get from this book. Spend your money elsewhere on Amazon.
Important Concept with a Road Long Taken!.......2007-02-01
I must admit -- I can almost ghost write for Kiyosaki at this point. Rich Dad's 'Prophecy' is an example of what I could have done if given the concept to write about.
Within 'Prophecy,' Kiyosaki this time offers us his view on an impending stock market crash that will be caused by Baby Boomers in layman terms "cashing out" between the years 2010 to 2020. It's an important topic and something that most of us know by now -- not a secret as they say nor earth shattering information. But -- his information is very important to think about as we go about the course of our lives in securing a financial future for ourselves.
Highlighs:
As a result of ERISA (Employment Retirement Income Security Act) we are now away from the days of Defined Benefit plans and are now well-entrenched into Defined Contribution plans - gold watch -- may'be; predictable retirement income -- no! As a result, the working American (in most cases according to Kioyaski) will put her money in safe mutual fund investments on the premise that the stock market over time always goes up (with peaks and valleys along the way) hoping that the mutual fund manager's dollar cost averaging concept is at her advantage.
I think we know where this is going (especially if you've read Kiyosaki's previous work). You have to take control in an active sense and become an educated investor. There are some pages within that one should review:
Page 61: Points out just who is your financial planner - what qualifies him or her? Find out. Also -- the premise (my take on it): Government intervention has pushed retirement funding on the shoulders of a future generation with laws in place that are counter-intuitive to sound financial planning.
Page 116: Regardless if you think the health care crises is overblown or not, this page brings it home. Health care costs are rising. Many will be without insurance. Medicare and social security bankrupt -- probably. But we're living longer without adequate protection to carry us in our golden years.
Chapter 9: The whole chapter -- nice summurization of some contributing factors that will bring about 'The Perfect Storm'. Japan's status as a major economic force; China becoming the powerhouse economy; Wall Street being obsolete, and other factors that are important -- this chapter combined with Chapters 4 and 5 and you have the main point of the book.
All this leads us into --- Kiyosaki's familar concepts: Invest in real estate (passive), become an active investor in the stock market (portfolio), and start or grow a business. There are some pointers within for those that desire to remain employed, but again, the remainder of the book is not "must read" material if you've read RDPD, CFQ, Guide to Investing, and RY-RR!
My 3-star review is based upon an important concept being introduced in a very enjoyable (though long-winded) format. In addition, Kiyosaki consistently allows the reader to join at any point and catch-up on his concepts. This was at one-tiime considered by Kiyosaki himself as his most important work. I disagree with that based on where I am in his series; however, it is an extremely important concept to be reviewed and put at the forefront of our minds. Most of you will probably be able to read this within 1 - 3 days and this would have been better placed in a newsletter to die-hards -- but he has built the brand, so if you want to roll with it -- roll with it! Just a sidebar: What kind of cap rate is he going for?! I must disagree with his Triple Net Lease and some of his commercial real estate information, but at least it's well-written for those familiar with real estate to critique.
Stop your whining, it's only a book........2006-07-19
I can't stand all of these reviewers expecting books to solve their financial problems. Look if you're looking at this book thinking, "Wow, if I read this, I'll be rich and not have any problems in life ever." Then DO NOT BUY IT. But if you're looking for other views on life instead of the one you're looking through, then get this book. It offers a couple lessons, and yeah, it's similar to the other books. But the reason I read those is because I need different outlooks on the same subject, "Getting out of the rat race."
In this book, he points out the downfalls of our U.S. financial policies and that we try to push out our financial problems as far into the future as possible. "Let our children handle it". Could Kiyosaki have said it in fewer words? Probably. But I enjoy reading his work, so I didn't mind so much. It seems to me the people that are so anxious for an answer on how to get rich are the same ones that are saying, "Well, he's not saying when this will happen." or "Well, he's only saying to get passive income so I can be financially free." If he were to say those things, why is it so bad? Being financially free is key no matter how the markets are doing.
A different perspective on how you look at the same thing, that's all he's offering. He's not offering world renowned remedies, he's not the solve it all, nor does he make himself out to be. There just seems like there are a whole bunch of poor dads out there looking for the solve all book, and complaining that they don't own the right book. I feel it was worth my time to read it. And not really worth my time to read these other reviews.
The same point reiterated over and over........2006-07-07
A much better and concise book on this topic is called "The Great Bust Ahead". Authored by Daniel Arnold, it provides much more statistical data for an up-coming crash / depression.
It's not the 70.5 year olds withdrawing from their 401k's which will cause a crash, it's the 49-54 year old spending age bracket which are heading into retirement.
Arnold is predicting a much earlier crash to occur around 2010. I highly recommend his book. It's a short read and will only take about an hour; but is well worth it.
Point Made in Many Words.......2006-05-08
Kiyosaki's main point is that the stock market will react to the required-by-law RMDs (required minimum distributions) when the first year of Baby Boomers turn 70 years old in 2016. Many Boomers will have to sell part of their retirement investments according to the U.S. law. As more Boomers reach age 70, more will be forced to sell part of their holdings each year...and keep selling until they die. In any market, when sellers abound, prices fall. This will, in Kiyosaki's prediction, affect the investments and retirement accounts of the rest of us post-Baby Boomers before we reach retirement. His advice: we have until 2012 to "build our financial arks" and get out of the stock market. His suggestion is to get into real estate and business building (same theme as his previous 3 books in the Rich Dad series).
He could have made this point in a few chapters. He tends to repeat his points, perhaps so we remember them. More theoretical than practical advice is given.
To be a wise investor, you must know the laws of the land...and use them to your advantage. Do not count on the government (Social Security or Medicare) for your retirement because government has a track record and continuing mentality of pushing financial problems forward to future generations.
Book Description
Ed Slott is without a doubt “one of the country's leading IRA experts” (Reader's Digest). Appearing at a time when virtually everyone is concerned about retirement savings, this authoritative thoroughly accessible book presents an easy-to-follow plan for making money—a lot of money— with your IRA. Slott shows readers how to choose the right financial advisor, manage vital information and deadlines, and create a retirement fortune that will not only benefit the individual, but continue to enrich beneficiaries for generations. This powerful, straightforward tool is the book for Americans interested in creating a fiscal windfall for the future.
Customer Reviews:
IRA for the long term.......2007-06-27
I think I understood the underlying theme of this book, but the author made it more difficult to read and understand than need be. It seemed he was trying to be either clever or funny to the detriment of the content.
Help when I Need It.......2007-01-13
ONly on the first chapter and already learning what I should be doing. Easy to read and understand. With book's help I may be able to save a lot of money.
Concise info on stretch IRA's.......2007-01-04
Ed Slott is considered THE expert on stretch IRA's. Book is aimed at investors who will probably die before depleting their IRA funds. It explains how to structure a stretch IRA to pass this money on to future generations with minimal taxation.
Book is better organized than Slott's previous books. It is very readable. I keep it for a reference and have purchased additional copies for gifts.
Requried Reading for Anyone with an IRA........2006-07-23
This book focuses on ensuring that your IRA is properly set up, so that it can be passed on to beneficiaries intact, effectively establishing a "stretch IRA". The stretch IRA describes an IRA held by a beneficiary, and which will pay out over their lifetime.
This book is very well organized, and the author is clearly very enthusiastic about his subject. He does quite well making his case, that you should ensure your IRA passes intact to a beneficiary, in that it can offer them HUGE tax advantages for their entire life time.
He is also quite good about explaining the steps you need to achieve this. Much of the book is reference material that will not apply to everyone at any given time, but that is not a real criticism. The book is cheap enough, and the sections that apply to all are worth the entire purchase price.
If you have an IRA, and you have any desire to pass your assets along to a beneficiary, this book is an excellent starting point.
Book Description
Your one-stop guide for all you need to know about the ins and outs of planning a successful retirement -- it's never too early to start. Indside the
Retirement Bible you'll find:
- How to play the retirement savings game -- putting together and sticking to a retirement check list
- Tips on cutting through the clutter of financial advisors -- your best sources for finding them, the questions to ask them, matching their services with your needs
- The inside scoop on private money managers -- should you hire your own?
- 401K contribution strategies -- getting the 401K you deserve, escaping a potential 401K nightmare, and alternatives for your 401K when you leave a job
- Stock picking 101 -- how stocks measure up, value versus growth, mutual funds, and new alternatives
- Establishing trusts -- ten steps in creating a great trust
- and much, much more!
Customer Reviews:
Well-written and easy to follow.......2007-05-19
The book may have been written 5 years ago but the principles of investing still apply today. The book is detailed, easy to follow and a worthy read. Anyone interested in retiring will benefit from reading this book. I am using the book to make sure that I am ready when retirement age catches up with me.
Much Information is very out of date / no longer accurate.......2007-04-22
Much of the information is out-dated. Many of the financial products referred to have changed alot over the years. This is true particulary about Variable Universal Life Insurance, as well as Variable Annuities. These products have greatly improved over the last 5 years, and much of the information in this book does not apply to the newer products.
The author is not licensed for insurance, not securities licensed, not an investment advisor, and is not a CFP. Therefore she does not have any clients. People who just write books can write almost whatever they want, and are not held to the same standards as licensed professionals. You should be careful of the advice you get from people who only make a living by writing books and articles, and are not licensed professionals.
DON'T WASTE YOUR TIME !!.......2006-08-08
Out of date and poorly written. Might be suited for a middle school class.
A bit out of date but useful for basic info........2006-07-15
Good basic information on various financial topics such as bonds, equities, 401k, pension, etc. But examples provided are out of date.
Information I could understand.......2006-06-28
Lynn O'Shaughnessy's book Retirement Bible was informative and helpful as I plan for my retirement. It was in a format that even I could understand. I appreciated her help on buyer beware. I will probably hire a good financial advisor to assist and this book has educated me, so when I do interview advisors I hope they will be ready for all my questions.
Book Description
A comprehensive, convenient overview for investors.
The only authoritative, concise guide to investing in annuities, this completely up-to-date book includes detailed information on every kind of annuity instrument available to the general investor, including extensive information on the hottest, most controversial category—variable annuities. Written in clear, accessible language, this is the ideal reference guide to this growing investment option.
• Written by an expert in the field of personal investment and a seasoned writer/journalist on the subject
• Includes a variety of actuary and investment tables to help you understand how your investments in annuities will perform
Customer Reviews:
Good but basic.......2007-04-08
I was a little disappointed in this book. It is quite well written but most of the information in it is available free through internet searches.
I was looking for detailed information on the tax impact of inherited annuities, and it is not here. This book is a very basic consumer guide, not really a thorough guide for investors.
Books:
- Tax Havens Today: The Benefits and Pitfalls of Banking and Investing Offshore
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- Tax Havens Today: The Benefits and Pitfalls of Banking and Investing Offshore
- The 22 Immutable Laws of Branding
- The 22 Immutable Laws of Branding
- The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life
- The Cost of Discipleship
- The Dutch Republic: Its Rise, Greatness, and Fall 1477-1806 (Oxford History of Early Modern Europe)
- The Fair Tax Book: Saying Goodbye to the Income Tax and the IRS
- The Fair Tax Book: Saying Goodbye to the Income Tax and the IRS
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