From Publishers Weekly
Schwab-Pomerantz, a registered stockbroker, has teamed up with her dad to share their insights on money, investing and the conversations that need to accompany these. Their focus is on the importance of conducting different life-stage conversations (e.g., how to financially approach being single, getting married, raising children, helping parents), and this well-rounded primer provides one-stop shopping for the many phases of financial understanding and planning. It delivers comprehensive investment particulars with the necessary charts, graphs and illustrative anecdotes. Schwab-Pomerantz often uses her own life as an example, and while she has far more experience with money and investing than the average person, she wears the same personal hats-parent, child, spouse-as readers. To her concise and thorough explanations of family financial planning, father Chuck adds his two cents, e.g., "money is always an issue, even when it doesn't seem like it." Most families, whether balancing a checkbook or investing for retirement, would likely agree. This educational volume provides a useful framework that a family can refer to when approaching those often difficult but necessary conversations about finances.
Copyright 2002 Reed Business Information, Inc.
Charles Schwab is the well-known founder, chairman, and co-CEO of the Charles Schwab Corporation, one of the nation's largest and most well respected financial services firms. His daughter Carrie is the primary author of this financial-planning guide, which includes a smattering of dad's comments throughout contained in sidebars labeled "Chuck's Two Cents." Much of the rhetoric touts the industry line of the advantages of staying invested in the stock market over long periods of time, with examples of the compound growth potential of investing early and often at a theoretical 10 percent return (which is awfully hard to come by these days). They also emphasize the importance of diversification into bonds and cash equivalents, a fundamental that was all but forgotten during the heady days of the 1990s bull market. The sensible advice and confidence in the long-term health of the U.S. economy are pretty much what you'd expect from this family, but what sets this book apart is the predominant theme of how to discuss and formulate specific financial plans with your family and loved ones. Even if the topic leaves you feeling uncomfortable, confused, or bored, the Schwabs insist that your financial future is too important not to get the conversation going well before it's time to pay for college, a home, or retirement. David Siegfried
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