The New Rules of Money: 88 Strategies for Financial Success Today [Hardcover]

Ric Edelman (Author)

Book Description

Publication Date: January 1998

While your parents and grandparents paid relatively little in taxes, you lose more than a third of your income to the tax collector. Prices for goods and services were stable for the first 60 years of this century, but you must buy today to avoid tomorrow's price increases. The result? You are earning more money than ever -- but you also save less than ever. And, by living longer, you increase the risk that you will outlive your income.

In The New Rules of Money, Ric Edelman puts you on the right financial course. His 88 strategies are fun to read and easy to follow, and he shows you how to maximize your personal finances in today's economic climate. He tells you the best strategies for paying for college, buying a home, saving on taxes and choosing the right investments. He changes your thinking about insurance, retirement and estate planning.

The New Rules of Money is for everyone, whether single or married, young or old, wealthy or in debt, starting out or starting over. No matter what your economic situation, it is time for you to change the way you think about personal finance. Ric Edelman will show you the way.

Visit Ric Edelman's site on AOL at keyword : Edelman.

Editorial Reviews

Amazon.com Review

Should you save money in your child's name? Is paying off your home mortgage a good idea? Should you invest in index funds? Ric Edelman, syndicated columnist and PBS personality, answers these and 85 other commonly asked questions in The New Rules of Money.

The book covers questions about income and debt, college planning, home ownership, investment strategies, and family matters. Accessible and easy to read, The New Rules for Money is for those who have little time for financial planning but want good, straightforward advice about what to do with their money.

Review

"A Financial Guru." -- CBS Evening News

"He's unconventional. He's contrary. But when it comes to investing, people listen." -- The Washington Post

"One of most successful financial advisors in the country." -- Dow Jones Investment Advisor

"When Ric speaks (or writes) I pay attention. So should you." -- Cal Thomas --This text refers to the Paperback edition.

See all Editorial Reviews

Product Details

• Hardcover: 320 pages
• Publisher: Harpercollins; 1st edition (January 1998)
• Language: English
• ISBN-10: 006270219X
• ISBN-13: 978-0062702197
• Product Dimensions: 9.1 x 6.4 x 1.2 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 3.1 out of 5 stars  See all reviews (39 customer reviews)
• Amazon Best Sellers Rank: #1,930,386 in Books (See Top 100 in Books)

More About the Author

Ric Edelman is one of the nation's most acclaimed financial advisors. Ric's firm, Edelman Financial Services, manages more than $5 billion in assets and has been helping people achieve financial success for 25 years. He and his firm have won more than 75 financial, business, community and philanthropic awards, and his commitment to teaching consumers about personal finance has established him as one of the most popular financial professionals in America.

In 2010, Barron's named Ric the No. 1 independent financial advisor in the country(1) for the second year in a row. In 2004, Ric was inducted into the Financial Advisor Hall of Fame, ranked the No. 1 advisor in the nation by Research Magazine(2) for his focus on the individual client and ranked No. 42 on Registered Rep(3) magazine's list of "America's Top 50 Advisors."

In prior years, he won the Entrepreneur of the Year Award for Washington, D.C. by Ernst and Young (2001), the Blue Chip Enterprise Award from the U.S. Chamber of Commerce (2000) and Inc. magazine(4) three times named the firm the fastest growing privately-held financial planning firm in the country.

Ric is a #1 New York Times best-selling author. His seven books on personal finance include Ordinary People, Extraordinary Wealth; The New Rules of Money; Discover the Wealth Within You; What You Need to Do Now; The Lies About Money; Rescue Your Money; and the personal finance classic, The Truth About Money, now in its fourth edition. Collectively, Ric's books have sold more than 1 million copies, have been translated into several languages, and have educated countless people worldwide.

The Truth About Money with Ric Edelman can be heard on radio stations throughout the country. The live call-in advice program has been on the air for nearly 20 years and earned Ric the A.I.R. Award for Best Talk Show Host in Washington, D.C. (1993). He also publishes a monthly newsletter, has built one of the most comprehensive and free online educational resources about personal finance at www.RicEdelman.com, and is the author of a variety of video and audio educational systems that help people achieve their financial goals.


(1) Barron's ranking "Top 100 Independent Financial Advisors" (Aug. 28, 2010 / Aug. 31, 2009) based on the quality of the advisors' practices, including client retention and compliance record, contribution to the firm's profitability, and the volume of assets overseen by the advisors and their teams.

(2) Registered Rep magazine cover story "Clean Machines - Top 50 Brokers," September 2004.

(3) Research magazine cover story "Advisor Hall of Fame," December 2004 (based on serving a minimum of 15 years in the industry, having acquired substantial assets under management, demonstrating superior client service and having earned recognition from peers and the broader community for how they reflect on their profession).

(4) Inc. magazine cover story, "Inc. magazine's list of 500 fastest-growing private companies in the nation--Ranked #142 overall", October 1997 (Companies have to be independent and privately held through 1996, and must demonstrate a sales increase from fiscal year 1995 to 1996. Holding companies and regulated banks and utilities are not eligible, and sales in 1992 must be at least $200 thousand. Inc. magazine verified all information using tax forms and financial statements from certified public accountants, and by conducting interviews with company officials).

Customer Reviews

Most Helpful Customer Reviews

94 of 104 people found the following review helpful:

1.0 out of 5 stars Title should be 88 simple strategies for finanacial FAILURE, June 17, 2000

By 

Christine Lynn Jones - See all my reviews

This review is from: The New Rules of Money: 88 Simple Strategies for Financial Success Today (Paperback)

I bought this book because the hard back version was on the clearance shelf of my local bookstore for only $3.99. After reading it, I discovered why the book was so cheap. It appears that Edelman did not write this book because he cares about consumers/investors, he wrote it for the sole purpose of filling his own pockets with extra change. Mr. Edelman's inability to get his facts straight is blatantly visible throughout the book. For example, Edelman states that the Vanguard 500 Index fund did not exist 10 years prior to the publication of his book (published in 1998). But as a Vanguard investor I can tell you that the inception of the 500 Index fund was on August 31, 1976. He also tells readers to avoid inflation-indexed bonds, claiming that people only buy them hoping that inflation will rise so their bond values will jump. This is nonsense (please don't insult my intelligence Ric). People purchase these bonds as a small conservative part of their portfolio to provide protection against the investments (equities, high-yield bonds, etc.) that decrease in value during times of inflation. Lastly, Edelman completely trashes the Roth IRA. Although the type of IRA that one chooses depends on many factors such as age, income, tax bracket, and expected age of retirement, the Roth IRA is a wonderful choice for many (if not most) young investors. No taxes on accumlated earnings is usually more beneficial than no taxes on contributions (you can figure out the math for your own situation using an IRA calculator). Edelman distorts the facts in order to scare people and sell his book (shock grabs attention and sells a product). There are many other examples throughout his book of half-truths and misrepresentations, but since I am limited to 1,000 words here I cannot name them all. In conclusion, I must say that I do pity the novice investor who chooses this as an introduction to the financial world and heeds Edelman's advice as golden.

24 of 25 people found the following review helpful:

5.0 out of 5 stars Good advice from a highly qualified CFP, October 30, 2003

By 

Melody Cooke (Nashua, NH) - See all my reviews

This review is from: The New Rules of Money: 88 Simple Strategies for Financial Success Today (Paperback)

Ric Edelman may tell you a few things you don't agree with or don't coincide with other so called "experts" who write financial books, but, how are you doing financially? How much money have you lost in the market following their "expert" advice?

I know I got smacked following a certain East Coast female author and got back on track with "What You Need To Do Now" and Ordinary People, Extraordinary Wealth." I have just strated to read this book along with "Discover the Wealth Within You."

I also recommend Suze Ormans excellent books "The Road to Wealth" and "The Laws of Money" to get you on the fact track to financial success.

A lot of what Ric teaches is different and controversial but the bottom line is, it works.

19 of 20 people found the following review helpful:

4.0 out of 5 stars AN EYE OPENER, September 21, 1998

By A Customer

This review is from: The New Rules of Money: 88 Strategies for Financial Success Today (Hardcover)

This book is an excellent "eye opener" to the world of personal finance. The truth is that money doesn't come withan instruction book and when it comes to money, nobody is your friend. The people we typically get advice from have their hands in our pockets; brokers, bank loan officers, financial planners, auto and life insurance salespeople, car sales people etc., etc. This book and The Truth About Money will wet your appetite for more. For actual techniques, I highly recommend "More Wealth without Risk" and "Financial Self Defense" by the late great Charles J. Givens. "Millionaire Next Door" is also a great work, although like Edelmans books, a little lacking on the "what" and the "how"