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on March 18, 2009
Now I'm not SO confused and scared about the current state of the economy and my investments. This book was a quick and easy read and has provided me with some peace of mind. The information provided is pretty much common sense and presented in a way that is easy to understand. Admittedly, I now realize that my "common sense" is sometimes overtaken by my emotions -- a direct result of the inescapable media hype surrounding this "hot" topic. (I never really thought about this influence until reading this.)

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.
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on August 25, 2009
Whereas Ric Edelman's earlier works, "The Truth About Money" and "The New Rules of Money" are outstanding, his lates book, "Rescue Your Money" is essentially an advertisement for his firm's advisory services. The book is unworthy at any price.
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on May 16, 2015
I just love Ric Edelman's books! I have them all, and yes! I do listen to his radio show! I have purchased each of my 3 son's Ric's book "The Truth About Money" as a gift. All of his books are basic, easy to read, common sense information. I would love to tell you I have a million in the assets due to following his information, however, I sometimes just can't get out of my own way! Let me just say that I had adjusted my investments according to info I gathered from my Edelman "Reads" just weeks prior to that horrible market "adjustment" a few years ago and it saved me thousands in my 401K and other investments. While I did lose a little $$, it was not nearly as bad as it would have been if I had stayed positioned like I was! I have suggested Ric Edlemans books to all my friends and coworkers. Even if you have a financial manager, education is a powerful thing! Be informed, or be a victim!
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on April 5, 2015
Ric Edelman knows his business, as a retired individual, I needed to know the facts Mr. Edelman could impart to me. I had allowed too many years to slip by, taking financial advice "experts" who talked a good game, but their investing performance was mediocre.
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.
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on May 16, 2013
I received this book for free at an Edelman seminar. The book is far better than the seminar. Easy reading, small; I finished it in two hours. If your choice is between the seminar and the book, skip the seminar and go for the book.
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.
In all, the book was a good read. However, at least twice he references his other book "Lies About Money." I intend to buy that one right after I finish typing this review. Therefore, I suppose my recommendation to you is to skip this book and head for that other longer book, but I still give it five stars!
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on March 28, 2009
I bought this book because I've been concerned in this current financial environment, I wanted to see how Ric's advice might have changed from previous books. I've read several of his books and am fortunate to listen to his radio show on Saturdays so I've certainly heard his wisdom over the past 13 years. I was pleased to find that his advice is the same as it has always been. A calm rational approach to your investments will continue to pay off. What worked in the boom also works in the bust.

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!
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on September 10, 2013
The content is all here in this little book . Every idea covered is easy to understand and makes good common sense. This is a fine offering from the host of the PBS series "The Truth About Money"
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on July 26, 2012
This little book is worth reading if only for the thought process. It's not to be taken overly literally. The book starts with the accurate precept that an investor or retiree needs more yield than cash or T-bills can provide so as to cope with inflation. It's a fund manager's viewpoint sensible approach to asset allocation. The book contains some good advice, more for what not to do than for anything positive.It's as much motivational theory as investment advice. There are no claims to being more prescient than anyone else.Except for advice to re-balance, Edelman advocates essentially an autopilot approach to asset allocation. Edelman does not answer the question of how well do balanced ETFs and MFs fulfill his criteria.

There is Interesting derogation of the record of active trading, as advocated by Jim Cramer and others. There is much good advice as when he says that beating the market like many wall street gurus claim to do is the wrong goal. The book's topic is asset allocation, long term, diversification, favors ETFs over MFs, re-balance. Edelman emphasizes a banal sounding philosophy of buy low sell high as he implies that his recommended methods do this automatically. He provides a list of investments that fulfill his criterion along with those that don't. He ignores precious metals in his purview. He overlooks the insurance value of annuities

The book cites long term statistics, but I lack confidence in his admonition that things are no different now. In fact many things are different. There have been endemic structural political changes that have greatly affected markets since about 1965. There have been politically motivated structural changes to economy, We will never see 8% growth rates again. Anyone who bought T-bills, junk bonds or annuities in the early 1970s is well off now. Those conditions could recur. Edelman ignores Keynes's advice "Markets can stay irrational longer than you can stay solvent." Picking a cycle length of 26 years for statistical studies is a disservice more than a help. It's a case of fitting statistics to investment method rather than the other way round.

Currently the market oscillates as we get alternate positive and negative news about the Greek and Spanish debt situations. What will happen when someone looks at Portugal or Italy? If the Eurozone unravels will the current pattern continue or will it evolve into an endemic decline? Who knows whether Cramer will get it right or Edelman will be lucky with his autopilot approach to asset allocation. How did Edelman do in the 2008 downturn where diversification failed to work or does he consider that a "blip'? Can it happen again? The autopilot approach works until it doesn't. George Soros's statement about the end of an era is more likely to prove correct than Edelman's nothing different approach.

Like with other financial gurus, it's not bad investment advice, but even long term, it's hardly the sure thing that Edelman makes it out to be. It's good advice for now but ignores possible changes.
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on April 4, 2009
Ok, I've read this same material over and over... nothing new here... just a rehash of old, time-worn recommendations... The author obviously rushed this book to market to capitalize on turbulent economic conditions and frightened investors... overall, a waste of my time and money.
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on August 12, 2009
The author states that the secret to investing is "Buy Low and Sell High." Even though almost everyone has heard it before, investors still do the exact opposite. There is no better example than in 2008 and 2009 when many people sold because of fear, following the "Buy High and Sell Low" philosophy. The author backs up this point with solid data.

The author also states that many want to beat the market. But who really cares? When you achieve your financial goal, does it really matter that you beat the market 20 years ago?

This is a short book, but it gives valuable advice. It can probably be read in one sitting.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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