Top critical review
53 people found this helpful
on June 28, 2014
I did not find this book that useful and it wasn't quite what I was looking for as it was TOO basic. This book would be good for a teen or someone who just started working, to introduce them to some of the basic concepts. An informed parent could also explain these same concepts. A google search on how to begin investing would provide similar information contained in this book.
Maybe I am simplifying this too much but this is the takeaway I got: Save early and go open an IRA and 401k and invest in ETFs.
Author goes into details of why you should save early and gives example of potential gains from saving early and being informed vs not. This book does not teach you how to invest or how to double your money except for some good details on ETFs. It tells you how your money CAN double by using the rule of 72. Basically divide 72 by % gain = years your money will double. Introduced asset classes: (basic definition) bonds, mutual funds, stocks, ETFs, inflation protected bonds (TIPS), REITs, commodities, etc. Introduced sandbox/lockbox concept and how to keep your money safe and lower overall risk by not over-trading. I found chapter 9 (Putting it into practice using ETFs) and chapter 10 (Making it bulletproof) useful. That said, if you want to be reminded of the basic concepts and more motivation and reasons to save, this book would work for you and does the job well.