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Rescue Your Money: Your Personal Investment Recovery Plan Paperback – March 10, 2009
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Top Customer Reviews
Edelman makes it clear that diversification and the ability to maintain a long-term investment approach are essential in today's market (easier said then done, I know). Also, I never really thought about how beneficial (and essential) rebalancing your investment portfolio is until I read this book.
What I found reassuring was the extent of the historical information provided through clever use of charts and graphs...Edelman makes a strong case for staying the course by reminding us that this is not the first time the market has experienced such turmoil and most likely won't be the last. I am now more confident now that financial prosperity is likely to return (but when?!?!). I'll keep this pocket guide close and re-read it should I get an urge to change my investment approach or cash out simply out of fear that the market will never rebound. Definitely a valuable read for investors of all ages.
It was time for me to learn what I has depended upon "experts" to do. To that end, I had been listening to Ric Edelman's radio show on week-ends, and liked his style. That's why I purchased a few of his books.
Keeping one's retirement nest egg intact and positive is something I never thought I was qualified to do, but reading and referring to Ric Edelman's writings have given me the confidence I needed to keep the nest egg producing.
Here are some highlights and questions:
- It was the single best presentation of both risk and the importance of diversification I have ever read.
- I didn't know that the average mutual fund fares better than the average stock. Not sure I believe it. No explanation of how the data was constituted. Hmm. His company uses Dimensional Fund Advisors. I thought they followed the math about index funds as taught at IFA.com which would disagree. (There is some connection between the two, IFA and DFA. I think one is theoretical, the other practical.)
- He explained why he avoids all individual stocks and also all regular mutual funds. But I wish he would explain more about his strategy as to why he doesn't even mention index funds. Perhaps the institutional shares and the ETFs he uses are very broadly diversified.
- I didn't know I could access Institutional shares; through his practice I can. I'll consider it but he says others use the same DFA group, too.
- Odd: He talks about rebalancing a portfolio when it gets only 2 percent away from what someone thinks is "perfect." That's crazy talk unless you don't have any trading fees. Maybe exchanges between the DFA accounts are free? Don't know and it wasn't explained.
- He didn't even mention rebalancing with new money (from one's ongoing employment salary). Perhaps he forgot that some people aren't retired yet? This is standard advice for anyone who regularly contributes to their savings with new money in order to avoid incurring fees and also creating taxable events.Read more ›
Really, I bought this book for my wife as much as myself. She's more jittery and worried than I am, and will be comforted by this sensible advice! Buy this book and rebalance!
Most Recent Customer Reviews
This clearly explains Edelman's investing strategy, without the client stories which pad his other books.Published 3 days ago by Patapsco Ray
Great book and a quick read. Just when you think you know it all investment wise, tune into Ric's radio show. Read morePublished 13 days ago by Nicholas
A faster and more concise read than some of his others. Led me to reread one of his books I previously bought. Read morePublished on March 2, 2014 by Julie H
Arrived quickly. The book was much smaller than I though it would be. Ric is certainly very knowledgible, however some of his conclusion surprising.Published on October 7, 2013 by Michael J
Great read. Very informative. Less of an advertisement than what I thought it will be. Well worth the few bucks for a starter.Published on September 24, 2013 by John Brown
The content is all here in this little book . Every idea covered is easy to understand and makes good common sense. Read morePublished on September 10, 2013 by Bob Wolter