Customer Reviews

Rule Your Freakin' Retirement: How to Retire Rich by Actively Managing Your Assets

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Michael Parness does provide some useful information in this book. His style of writing is unorthodox, often funny, and not at all stuffy like usual "retirement" books. However, there are plenty of dangerous ideas in this book to make it unsuitable for the average person. His ideas on active trading/speculation in the market can bring financial ruin to many people. Parness says nothing about the costs of active trading. He rightly advises us to choose mutual funds with the lowest possible costs, but does not even mention the fact that one buy/sell transaction in stocks will cost you from 10 to 20 dollars, depending on the broker you use. Buying and selling options, which he also recommends, is even more costly. His ideas on trend trading are undeveloped and seem more like a lure for people to visit his website, to which he refers many times throughout the book. There are other books on retirement that offer much safer ideas that his. Bottom line: active trading in the style that Parness advocates is unsuitable for all but the most adventurous people. Day trading (which Parness advocates in the book) requires nerves of steel, plenty of time to spend at the computer screen, and a willingness to take many losses in order to catch that one big win. If you are sure you can do it, this is the book for you.

Michael "Waxie" Parness really knows what he's talking about when it comes to making money in the market. If you're tired of losing money through mutual funds and want to take a more active role in managing your assets, this is the book for you.