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The Truth About Retirement Plans and IRAs Paperback – April 8, 2014
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Ric is also wrong in his advice for federal employees to transfer their TSPs into IRAs once they have left their employment. He cites the paucity of investment options as the basis for his recommendation. But even though the TSP has only five funds, it covers US large and small caps and international EAFE stocks, as well as all bonds and a unique G fund of government bonds that can never lose money and historically has kept up with inflation. The only viable investment option that TSP lacks is emerging market stocks, which arguably may be too risky and high cost for most investors. TSP charges only 0.029% expense ratio, which is significant lower than any other mutual fund or ETF. For the amount of diversification and low fees, the TSP is unbeatable. Investors with TSPs will do themselves a huge disservice by following Ric's advice.
Lastly, he frequently promotes his services throughout the book and often omits important details on the excuse that it is beyond the scope of the book or, his most common response, "it depends", and points the reader to call his firm instead.
Ric has some very strong opinions about personal finances, but it is mistake to equate strong opinions with correct opinions. As we all know in the business, we don't know it all. No one does. I have more financial credentials than Ric (although not the honorary doctorate given to him by his college for a substantial gift) but I still don't know everything about personal finance.
He does have an entertaining way of writing which is easy to read. There is some good information about retirement planning, but also some strong opinions about the right thing for everyone to do. This is the problem. Any true Certified Financial Planner will tell you that there is not a right way for everyone. That is left to shock jocks, not planners.
Enjoy the book if you choose to buy it, but don't believe that it has all of your retirement answers. It doesn't.
This is a very helpful, understandable guide to financial planning for retirement, useful to those just starting to save as well as those in retirement.
Ric's advice is sound and has proven the test of time. This is a must read pre-retirement and post-retirement.
Most Recent Customer Reviews
Very interesting book, I just started investing recently as I am a first year out of college. Reading this book really opened my eyes to how important investing in your future... Read morePublished 25 days ago by raphy abergel
The title of the book implies that it will answer your questions about various financial instruments that you may use to fund your retirement. Read morePublished 2 months ago by My Opinion
Edelman is a salesman and a con man trolling for suckers with his books and radio show, which are just infomercials His fees are through the roof. He lies about mutual funds. Read morePublished 4 months ago by joedoe