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Time Is Money: A Million-dollar Investment Plan For Today's Twenty- And Thirty-somethings Paperback – December 20, 1995


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Product Details

  • Paperback: 336 pages
  • Publisher: Basic Books (December 20, 1995)
  • Language: English
  • ISBN-10: 0201409623
  • ISBN-13: 978-0201409628
  • Product Dimensions: 5.4 x 0.9 x 8.3 inches
  • Shipping Weight: 13.4 ounces
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (11 customer reviews)
  • Amazon Best Sellers Rank: #583,016 in Books (See Top 100 in Books)

Editorial Reviews

From Publishers Weekly

Leonard, author of Women & Money, has written an upbeat financial-advice book for people in their 20s and 30s. Rather than attempting to account for every imaginable financial disaster, Leonard wisely focuses on one key issue?accumulating as much money for retirement as possible. Aided by very convincing statistics, she shows the importance of saving early: someone who invests $96 every month, starting at age 23, in an investment that earns an average of 10% annually, would accumulate a million dollars by the time he or she reaches age 67;on the other hand, if someone doesn't begin saving until he or she is age 42, that person would have to save $677 every month in order to have saved a million dollars at age 67. Leonard introduces an easy-to-understand four-step program to achieve this goal. These "steps to a fortune" include figuring out how much money you can set aside regularly; finding an investment that earns 10%-12% interest; using a tax-deferred account such as a 401(k) plan; protecting your money against inflation and against the unexpected. Other chapters on the stock market, mutual funds, pension plans and other aspects of financial planning are also included. Probably most helpful to the many overspenders in the audience will be the section on managing debt and making the most of credit. Leonard's easy-going writing style with humorous quips should appeal to the intended readers.
Copyright 1995 Reed Business Information, Inc.

From Library Journal

Leonard, a lawyer, lecturer, and writer (Money and the Mature Woman, LJ 2/15/93), writes a paean to "the miracle of compounding interest." He tells how persons aged 35 or younger can become millionaires by investing monthly in stock mutual funds and offers statistics to show that over the last decades the stock market has gained on the average more than ten percent a year despite recessions and downturns. Those over 35 are virtually ignored here, because it is too late for compounding to produce a million dollars for them unless they are already well-to-do. Leonard's afterword for parents, etc., encourages them to get their offspring into such a program, even if the parents must start the account themselves. Although the investment program suggested is mathematically possible, it does not take into account layoffs, illness, and divorce, which can interfere with making monthly investments over the 40 or so years required. Still, this is a worthwhile book for public libraries.?Sue McKimm, Cuyahoga Cty. P.L., Parma, Ohio
Copyright 1995 Reed Business Information, Inc.

Customer Reviews

4.4 out of 5 stars
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Most Helpful Customer Reviews

11 of 12 people found the following review helpful By Homare Yamaguchi on December 6, 1999
Format: Paperback
I bought this book almost 2 years ago and this really made me serious investing for the future. Easy to read yet very thorough. Best book for newbies on mutual funds & stocks. I am so glad that I came across to this book. I really appreciate the author to write such an awesome book. My investments on mutual funds are doing extremely well, I am starting investing on stocks as well. Thanks alot!
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4 of 4 people found the following review helpful By J. Grosser on September 28, 2002
Format: Paperback
Time is Money has a load of basic financial concepts in its coffer. It was a pleasure to read, and the short quizzes at the end of each chapter really helped my focus and made certain I got the main concepts of each chapter. I am very annal about picking books because reading an entire book is a big investment of time, which I don't have a lot of to dedicate to pleasure reading--the time was definitely worth it. I've since recommended this book to friends.
Good luck! Jason
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4 of 4 people found the following review helpful By A Customer on August 12, 1998
Format: Paperback
This is the book I wish I had read twenty years ago. If I had my druthers, I'd give to every graduating high school senior. In a simple, engaging way it emphasizes the importance of starting early, even with just a few dollars.
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2 of 2 people found the following review helpful By Bruce Gilliz on September 22, 2004
Format: Paperback
Frances Leonard has done a super job of authoring this book. Make no mistake, this book, as its title states, is aimed squarely at the twenty-and thiry-somethings that hopefully want to ensure their financial futures. With this in mind, you should be able to approach this book with a calmness that says, "After reading this, I will be better educated about the world of personal finance."

Leonard outlines her four-step plan, which is the core of the book. And I have found that her advice is sound. The four steps are as follows:

*1 Find Your Number (your age)

*2 Invest at 10 to 12 Percent (the only way to get there is in mutual funds and stocks)

*3 Set up Your Investments in a Tax-Deferred Account (IRAs in USA and RRSPs in Canada)

*4 Beat Down Inflation With Adjustments (follow the annual CPI to make these adjustments)

Stupidly simple - yet extremely effective. My only quips with this book were the corny examples used throughout. The fictional company names were terrible: "Suds 'n Suds" "Luvs To Tank"!? The awful name game carries over to the end of the book and I found it to be a turnoff. In addition, parts of the book have a distinctly childish flavour (Not everyone watches "Sesame Street" in their twenties and thirties.).

Nonetheless, it is a solid effort by a respected and knowledgeable author. If the reader follows the four steps that that Leonard has outlined in her book, they will be set for a very strong financial future. However, it is imperative that the investor starts young (35 and under), because as the title states, "Time is Money".
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1 of 1 people found the following review helpful By Mariusz Skonieczny on August 12, 2009
Format: Paperback
Time is an extremely important factor in investing for retirement. Many younger people do not realize that if they start investing in their early thirties or better yet twenties, they only have to put away a small portion of money to have a significant amount when they are in their sixties. This happens because of compounding which is the most powerful force in the universe according to Albert Einstein.

The author writes that in order to retire as a millionaire, an investor who is:

* 25, needs to put away $117 per month
* 40, needs to put away $547 per month
* 50, needs to put away $1,665 per month

This assumes a 10 percent growth on the investment, which is very realistic. This is a beginning book, but I believe that all high school or college graduates should read it before they start their careers.

- 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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Format: Paperback
I read this book while in the Navy which I joined right out of High School. It opened my eyes to the fact that me and one day my wife could retire as millionaires. But I would hope/pray that the Author would update this book to the now Post-W. Bush Economy. I understood everything Mr. Leonard said and felt that he was talking to me individually as I read this book. The economy has changed dramatically compared to Pre-W. Bush...
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