The Truth About Money 4th Edition
Ric Edelman
Language: English
Pages: 736
ISBN: 0062006487
Format: PDF / Kindle (mobi) / ePub
“A single source for what you need to know to put your financial house in order, an impressive piece of work, and very useful.”
—Bob Clark, Editor-in-Chief, Dow Jones Investment Advisor
Ric Edelman, America’s most successful financial advisor, has revised and updated his classic personal finance bestseller to reflect the new global economic outlook. In his 4th edition of The Truth About Money, Edelman tells you everything you need to know about money—an essential, yet delightfully breezy and accessible, must-read manual for anyone who may have previously sought the financial wisdom of Suze Orman and Jean Chatzky. The Truth About Money is an indispensible guide to money matters from the man whom Barrons named the #1 independent financial advisor in the country.
Clarity: Clear Mind, Better Performance, Bigger Results
Think Big, Act Bigger: The Rewards of Being Relentless
Do Cool Sh*t: Quit Your Day Job, Start Your Own Business, and Live Happily Ever After
Beauty Begins: Making Peace with Your Reflection
Secret Keeping: Overcoming Hidden Habits and Addictions
even bigger one. Indeed, Jean and I are able to enjoy our lifestyle now because we were willing to sacrifice it all for a time, something most people will not do. We give each other a “knowing glance” whenever people comment on the success we’ve achieved. “You’re both so young,” people tell us. “It’s amazing how successful you’ve both become in such a short time.” If they only knew. You might say it took us years to become an overnight success. “Nothing lasts forever — not even your troubles.”
out during their freshman year, and little more than half (53%) graduate after five years. The numbers are even worse for students who graduate from high school in the bottom 25% of their class: Of those who go to college, 80% drop out. Remember: Refusing to be held hostage by college costs does not mean you are a bad parent. To the contrary, in the long run, you’ll be a hero. Chapter 52 – Does It Pay for Both Parents to Work While Raising Young Children? If you’re married, it’s likely that
If Acme goes bankrupt, you rank last in bankruptcy court. All investments are either equity (meaning ownership, like stocks) or debt (meaning loanership, like bonds), although sometimes they don’t look like it. Wall Street pays lots of money to lots of people for creative packaging of these products. Today, you can find dozens of different types of investments, as Figure 2-3 shows. But in the final analysis, each fundamentally remains either debt or equity — just as a station wagon is still a
didn’t get. Zeros are technically known as OID bonds, for Original Issue Discount, and the tax you pay each year is based on OID Interest. Let’s go back to our 7-year zero coupon bond investor. Not only did he lose his investment, he was paying taxes every year on the interest he never got. (In the year the bond became worthless, he was able to declare the loss on his tax return — small consolation!) Problem #4: Zeros Are Callable In itself, a zero that’s callable doesn’t seem to be any
than 40% — even though their target was just one year away.) Thus, glide paths are as numerous as the funds themselves. Clearly, each target- date fund's composition and glide path is whatever its manager wants it to be. Few investors know this, and as a result, many choose target-date funds that are far riskier than they realize. This explains why in testimony at a hearing jointly held by the Securities and Exchange Commission and the Department of Labor in 2009, Edelman Financial President Ed
