Customer Reviews

The Elephant in the Room

5 star:		(23)
4 star:		(5)
3 star:		(2)
2 star:		(1)
1 star:		(2)

 

 

The truth of the book: financial success doesn't come from buying the best stock or fund (or the cheapest). It doesn't come from minimizing expense ratios or P/E ratios. It comes from choosing to following a simple plan in a disciplined manner through (and in spite of) decades of life events. Yes, DECADES. Aunt Katherine doesn't travel because she won the lottery. She does so because they PLANNED and IMPLEMENTED. It's IMPLEMENTING a plan that produces results. How many of us have joined a gym, but don't go? How many $1,000 treadmills are sold at yard sales for pennies on the dollar? Figure out what's important, make a plan, and then IMPLEMENT your PLAN.

The Library of Congress page in the book tells us that Ed Baker is a pseudonym, and in the back of the book Ed is revealed as a compilation of many inputs including some advisors. So what? This does not diminish the power of the truth told within - BEHAVIOR DRIVES SUCCESS. I don't really care if this is a marketing tool. It's still a good story with an easy formula. Hire an advisor? Go it alone? In the end, that's YOUR choice. But the formula here works either way.

About the book: Excellent! There isn't anything else out there like it! Very unique! Keep on the shelf handy right next to "Who Moved My Cheese"! Because if you don't need it now - you will. There are so many 'do-it-your-self' books on the shelves, financial commentary, and technical writings about financial management and planning that it can be very overwhelming. But none of them address the ROOT of our money issues - behavior. The title is very fitting because it explores all of the underlying emotions and attitudes that surround our behavior towards money. The message speaks to everyone - anyone who says they are not guilty of behaving like the main character at one point or time is lying! Our average national saving rate (-1%) is proof of that!! The concepts in this book are very fundamental and inspirational. I definitely saw myself in this book but it has also reaffirmed why I seek out help from a financial advisor. The book is easy to read and perfect for our busy lifestyles. I've tried reading more lengthy books like the "Smart..." series, but I can't get through the whole book. I am in my 30's with two children, car payments, mortgage, and a full time job - I am living the "American Dream!" :) This book was perfect - inspirational and short. I would recommend this book to anyone (not just for young people) because it is never too late to start.
About the author: On the back of the book it states that Ed Baker is a pseudonym and that it was written by First Command Financial Planning and its advisors. Someone mentioned it was for marketing purposes or a secondary motive but the bottom line is: Who cares who wrote the book or why! Isn't every book a marketing tool? Books are the ultimate marketing vehicles to sell IDEAS. The real truth is the idea itself. In a sea of information overload this book had a very clear and simple message about one's values and behavior towards money. If First Command wrote the book for marketing purposes - Good for them! I'll buy into something promoting values. It definitely stands apart from all the other books sitting on the shelf that are thicker, more expensive, and less helpful. This is one way a company can brand themselves as different from the rest of the so called `dedicated advisors' out there who really only want the bottom line -your money.

Reading this book was a perfect picture of me 18 years ago. Today with investments and insurance I am on my way to secure future. The book reveals the true nature of people and how they view the finances and future. The young generation need to think long term. Don't wait, don't procrastinate. Don't be fooled by the get rich and do it yourself scams. Find a trusted financial advisor and start today. Great book based on fact.

This book is about attitude, not tools or products the financial services industry has to offer. The book encourages the reader to examine what's important to them and to develop a plan of action to work on the things they can control, not trying to fix the things they can not. Like most important things in life, a person's financial success is determined by their personal attitude and commitment to a plan designed to achieve their personal goals so they can fulfill their personal values. We can control our attitude and therefore our commitment to develop and implement a plan of action. Some few can do this on their own; many need professional advice. The sad reality is that many Americans have too much debt and have not saved enough for their most important goals, because they have not been shown how to make changes in their attitude towards money. It matters little who wrote the book, the premise is valid, whether in business, health, personal relationships, or finances; "Attitude determines Altitude."

Great book for youngsters to who are thirsting for confidence that they can have financial success. It's like the "Aunt Sophie" that is referred to in the matress commercials. Everyone knows an Aunt Sopie who can help them shop wisely, and almost no one has an Aunt Katherine to help them learn the basic patterns of financial success. Just might help someone avoid being 45 years old calling a radio show for guidance to get out of a mess. After reading mine, I gave it to a fellow plane passenger.

I highly recommend this book for all people, no matter what you do in life. People are always looking for the next hot stock pick by Jim Kramer so they can get rich quick but don't want take the time and look at what is really going to get you there. What this book is recommending is well within our reach, OUR BEHAVIOR!!! It's so sad that this is supposed to be fiction but how many people do we really know that live paycheck to paycheck even though they make pretty decent money? With the American savings rate in the negative and the amount of bankruptcies on the rise because of "trying to keep up with the Jones'", this book will open some eyes.

I really enjoyed this book and how it focused on the importance of behavior. I appreciated the fact that it didn't tell me what I should value or think, but that having a clear understanding of my own values is a critical part of my financial success. I've never met anyone who was successful by being impatient, undisciplined, unfocused and lacking commitent, and I thought this book did a great job of addressing the value of discipline, patience, commitment and being focused with a PLAN wrt financial success. This is a must read for anyone thinking about their financial future whether they use a professional advisor or go it alone.

This book is what every middle income family needs to read. It really breaks the ice on what making a financial plan for your family is all about. My kids have their own families now and I'm giving them each a copy. The book shows there no reason why any family can't enjoy a comfortable life and future without financial concerns. I could really identify with the characters and what they were going through.

This is a must read for anyone interested in Financial Planning. it is easy to read with straightforward tips on how to approach financial planning from a practical viewpoint. The key points are summarized after each chapter so it makes a great reference book also. I recommend that this book be given to and read by anyone 13 years of age or older.

Highly recommended for the reader that seeks a practical and disciplined approach to financial planning. Rather than speaking of the hottest stock, this looks towards things that you and I can do to achieve our goals. Who says you have to pick the "right" stock or be a large share holder? The Elephant in the Room shows that with a little bit of hard work and some time tested advice, we can all become who we want.