52 Weeks to Financial Fitness: The Week-by-Week Plan for Making Your Money Grow [Hardcover]

Marshall Loeb (Author)

Book Description

Publication Date: January 2, 2001

52 Weeks to Financial Fitness is your personal financial trainer -- a friendly and authoritative expert that will guide you week by week to manage your finances and make your money grow.

In the current frenzied market it's hard to know whom to turn to for solid advice. Into this void steps the calm presence of Marshall Loeb, personal finance pioneer and former editor of two of the most successful magazines in history, Fortune and Money.

Personal finance and investments are a lot like doing exercise. Few of us are happy with our finances or our physiques. For many people, just getting started on a fitness program is the hardest part. But once you begin, you marvel at how easy it is and wonder how you ever did without it. Marshall Loeb's program for financial fitness, like any good exercise program, starts simply and moves gradually to heavier lifting, boosting your  confidence as you move forward. Not only will you learn how to budget your accounts and get your insurance in order, but you'll also have a strong enough background to choose the investments that are right for you (stocks, bonds, or mutual funds) and the know-how to pick a financial planner and get the most out of his or her services. No matter what kind of financial shape you're in, Marshall -- week by week -- carefully brings you to the next level.

52 Weeks to Financial Fitness tells you everything you need to know to become financially fit. With its comprehensive coverage and ease of use, the book will serve as your practical financial guide. Some examples:

* Week 2: Ten ways to boost your savings.
* Week 7: Design a realistic family budget with Marshall's three-stage method.
* Week 11: Thirteen ways to cut your taxes this year.
* Weeks 18 and 19: Get your debt under control and design a sensible borrowing plan.
* Week 22: Start investing profitably in stocks.
* Week 23: Look into investing in bonds.
* Week 33: Cut the cost of your car insurance without cutting your coverage.
* Week 46: Calculate and save what you will need to retire comfortably and without worry.

Editorial Reviews

From Booklist

Loeb, now a "columnist" for CBS MarketWatch.com, has been the managing editor for both Money and Fortune as well as for Columbia Journalism Review. He is also the author of Marshal Loeb's Lifetime Financial Strategies (1996). Although much of his specific advice remains the same, Loeb now switches gears and focuses on a step-by-step approach rather than long-term strategy. Several authors--Jerald Mason, Elizabeth Lewin, Kevin Lust, Ginger Applegarth, and Caryn Johnson--have already used the analogy of getting into better physical shape as a model for becoming financially fit. Loeb's program is thusly touted: "Like any good exercise program, [it] starts simply and moves gradually to heavier lifting, boosting your confidence as you move forward." Many in the market for a "personal financial trainer" will choose Loeb because of his track record and his credentials. David Rouse
Copyright © American Library Association. All rights reserved

Review

"Another gem from America's dean of financial journalists. Marshall Loeb delivers exactly what his book promises: a painless, 52-week makeover for your family's finances. Follow his ingenious "task-a-week" game plan and the Long March to financial fitness becomes a weekly stroll in the park. If you're self-employed, the advice on setting up a tax-sheltered retirement plan in Week 44 is worth the price of the book all by itself."
-- Christopher Byron, columnist for Bloomberg News and MSNBC Interactive

"If your financial matters aren't in perfect shape, Marshall Loeb's book will help get them into the best shape of your life."        
-- Mark McCormack,         Chairman, CEO, and President, IMG, and author of What They Don't Teach You At Harvard Business School and Staying Street Smart in the Internet Age

"Marshall Loeb is the modern guru of financial fitness. He has filled this book with valuable and easily followed advice on how to reach that goal. Readers will learn a lot and enjoy the process as well."        
-- Myron Kandel, CNN Financial Editor

"Financial Planning can be intimidating. This book demystifies the process by dividing it into 52 components. Suddenly the overwhelming becomes possible. Clear and concise, this book is must reading for anyone who seriously wants to achieve financial independence."        
-- Alexandra Armstrong, CFP, CMFC,         Chairman, Armstrong, Welch & MacIntyre, Inc.

"Marshall Loeb -- a true icon of financial journalism -- combines discipline, experience, and logic in his easy-to-read-and-remember trudge through 52 financial exercises. Every saver/investor should think of themselves first and act accordingly. This book can help you help yourself."        
-- Robert H. Stovall, CFA, Senior Vice President, Market Strategist, Prudential Securities Incorporated

See all Editorial Reviews

Product Details

• Hardcover: 384 pages
• Publisher: Crown Business (January 2, 2001)
• Language: English
• ISBN-10: 0812933370
• ISBN-13: 978-0812933376
• Product Dimensions: 9.2 x 6.3 x 1.4 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 2.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #203,939 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

30 of 32 people found the following review helpful:

4.0 out of 5 stars One Financial Fitness Regimen Does Not Fit All!, December 30, 2000

By 

Donald Mitchell "Jesus Loves You!" (Thanks for Providing My Reviews over 109,000 Helpful Votes Globally) - See all my reviews
(VINE VOICE)    (HALL OF FAME REVIEWER)    (TOP 100 REVIEWER)   

This review is from: 52 Weeks to Financial Fitness: The Week-by-Week Plan for Making Your Money Grow (Hardcover)

The author suggests that you "look at this book as your . . . friendly, expert, immediately useful, personal trainer." Well, I agree that would be wonderful, and that's what financial advisors do. Like personal trainers, they start out by finding out all about you to diagnose where you need work, and then focus your attention on appropriate activities in those areas.

By contrast, this book focuses your attention in every possible direction, and probably overburdens you with detail in many areas where the benefits will be negligible for you.

Since the book does not focus you properly for your situation, you'll have to use the book differently than it is written to get full benefit from it. The advice is fine, just not organized to be the most helpful to you.

My suggestion is that you read the whole book first fairly quickly, making notes about how much financial benefit you think you will get from the more beneficial subjects, how much effort will be required to get that benefit, and your level of enthusiasm for pursuing that item.

Before going further, then think about other ways that you could increase your income. Add them to the list. The main content weakness in this book is that it emphasizes reducing risk with insurance, cutting costs and taxes, and increasing investment income. The book pays almost no attention to other ways to increase your income other than by adding a new skill and changing jobs.

Then count off about how many items look attractive to pursue, and pick the top 10 percent or so in value and attractiveness to you to start with. You will probably get 50 to 80 percent of the total benefit from Mr. Loeb's advice from these few items. Work on them first.

When you find that you have excess time to take on a new item, then add the next highest item for value and attractiveness.

At whatever point you've increased your income and cut your costs to be able to afford a fee-based financial planner to work with you, do so. Then in the process of working with that person, other high value opportunities will probably arise. The book advises you to do this also, but not until week 26. By then, most people will have stopped working on this enormously long list of things to check out, and you may never get around to getting that personalized advice.

Let me mention that Mr. Loeb is the former managing editor of Fortune and Money magazines, and did a terrific job at both places. He is very knowledgeable, thorough, and trustworthy. His advice is far more valuable for implementing what you need to do than many popular advisors like Ms. Orman.

He does not, however, pay any significant attention to the psychology of why people do the wrong things with their money. Most financial advisors tell me all their clients know what they "should" do, but don't do it anyway. I suggest that you also seek out books that consider that topic. "Rich Dad, Poor Dad" is a good basic book that most people can relate to. On cutting costs, reducing debt, and starting to invest, you will probably find "The Finance Doctor" easy to understand and apply.

My primary suggestion is that you take the goal-setting parts of this book the most seriously. But I would encourage you to expand that goal-setting to include all parts of your life. "Awaken the Giant Within" is a good resource for that purpose.

May you find peace of mind along with a fuller wallet . . . and the time to enjoy both!

4 of 5 people found the following review helpful:

1.0 out of 5 stars Give this one a pass!, January 8, 2003

By A Customer

This review is from: 52 Weeks to Financial Fitness: The Week-by-Week Plan for Making Your Money Grow (Hardcover)

I don't know what's more annoying about this book, the chirpy tone or the moronic advice. Not only are the tips all over the map, but they are just that--tips--with no help at all given to developing an overall philosophy or strategy. Loeb also completely ignores the emotional aspect of financial planning, leading to ridiculous advice like taking out a home equity loan to pay off credit card bills. Sure you can reduce your rate by doing that. But you're likely to run your cards up again. And now you've put your house at risk. Real smart move, Marshall.

I'm so grateful that I checked this book out of the library rather than spending good money on it. My advice: Almost any other basic personal finance book would serve you better than this one. A couple of good ones that deal with the emotional and the practical aspects of financial planning are Suze Orman's, Ruth Hayden's, and Jerrold Mundis'. Don't waste your time with this one.