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26 of 26 people found the following review helpful:
5.0 out of 5 stars
Outstanding investment book, August 6, 2010
This review is from: The Only Guide You'll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments (Bloomberg) (Hardcover)
As someone who owns a large collection of investment books, this latest contribution from Mr. Swedroe ranks at the top of the list. His gift is taking a complex subject and making it accessible to "the rest of us" yet not in any way "dumbing down" his presentation. It's the rare financial writer who can hold your attention chapter after chapter.
In this book Mr. Swedroe carefully but succintly provides superb information on asset allocation (with sub-chapters on the various types of equities, bonds, alternative investments etc.), even including valuable discussion on whether or not to prepay your mortgage vs. increase your tax-advantaged savings, and asset location (i.e., in which retirement or taxable accounts to place particular investments for maximum tax-efficiency. With tax rates going up in 2011, that's more important than ever).
When you read this book you will also see he has included cogent chapters on college savings plans, long-term care insurance, IRAs, Social Security, and determining a safe withdrawal rate for your golden years.
This is the kind of investment book you will refer back to over and over again. If you read just one investment book this year, this should be it.
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13 of 13 people found the following review helpful:
5.0 out of 5 stars
Excellent for the Intermediate to Advanced DIY Investor, September 17, 2010
This review is from: The Only Guide You'll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments (Bloomberg) (Hardcover)
This book is brief, but it contains a great deal of helpful information for managing your portfolio.
For example, I particularly enjoyed the authors' discussion of risk tolerance as having three components: need to take risk, desire to take risk, and ability to take risk. In my experience, most investors don't take the time to consider that last one--ability to take risk. If you don't have a specific plan of action for what you'll do (specific ways you can cut your retirement spending, for example) if your portfolio doesn't put up the returns you expect, then you can't afford to take much risk in your portfolio.
Bravo to the authors for pointing that out.
My one caution would be that, if you're brand new to investing, this may not be the book to start with, as Swedroe and crew make no apologies about using technical terminology. If that sounds intimidating to you, I'd suggest starting with Swedroe's "Wise Investing Made Simple" instead.
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16 of 17 people found the following review helpful:
5.0 out of 5 stars
Hooray for Another Gem !!, August 22, 2010
This review is from: The Only Guide You'll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments (Bloomberg) (Hardcover)
If you own or have read most of Larry Swedroe's books on investing (like I have), there isn't anything really new in his latest book. However, if you have not, and are into Do-It-Yourself financial planning, this book is priceless. Larry Swedroe's principles on index investing, risk management, asset allocation, portfolio diversification, choosing an adviser, fail-safe retirement withdrawals, and estate planning are concisely explained in this easy-to-read text. In short, this book summarizes all his previous works into a well written guide that removes the mystery and complexity out of financial and retirement planning. I started reading Larry's books when he first published in 1998, and it is so refreshing to know that his investing principles have not changed after 2 rip-roaring bull markets and 2 brutal bear markets that have followed. Unless you are a multi-millionaire with no concern about money, applying Larry's principles will not make you wealthy in retirement, but at the same time, you won't die poor and destitute in retirement either. Larry along with John Bogle, William Bernstein, Rick Ferri, Burton Malkiel, Jason Zweig, Jon Clements, and all the other wonderful Bogleheads, have truly given empowerment to the Main Street investor, and in so doing have made the so-called Wall Street gurus look like over-rated village idiots that they are. Larry, thank you for another one-two punch on enlightment and simplicity, and please keep the hits rolling !!
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