The New Rules of Money: 88 Strategies for Financial Success Today (Hardcover)

by Ric Edelman (Author) "I am a firm believer in cash reserves..." (more)
Key Phrases: personal finance press, tuition prepayment plans, asset management fees, The New Rules of Money, Wall Street, Social Security (more...)

Editorial Reviews

Amazon.com Review
Should you save money in your child's name? Is paying off your home mortgage a good idea? Should you invest in index funds? Ric Edelman, syndicated columnist and PBS personality, answers these and 85 other commonly asked questions in The New Rules of Money.

The book covers questions about income and debt, college planning, home ownership, investment strategies, and family matters. Accessible and easy to read, The New Rules for Money is for those who have little time for financial planning but want good, straightforward advice about what to do with their money.

Review
"A Financial Guru." -- CBS Evening News

"He's unconventional. He's contrary. But when it comes to investing, people listen." -- The Washington Post

"One of most successful financial advisors in the country." -- Dow Jones Investment Advisor

"When Ric speaks (or writes) I pay attention. So should you." -- Cal Thomas --This text refers to the Paperback edition.

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Product Details

• Hardcover: 320 pages
• Publisher: HarperCollins Publishers; 1st edition (January 1998)
• Language: English
• ISBN-10: 006270219X
• ISBN-13: 978-0062702197
• Product Dimensions: 9.2 x 6.1 x 1.3 inches
• Shipping Weight: 1.3 pounds
• Average Customer Review: 3.2 out of 5 stars See all reviews (38 customer reviews)
• Amazon.com Sales Rank: #173,540 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

88 of 98 people found the following review helpful:

1.0 out of 5 stars Title should be 88 simple strategies for finanacial FAILURE, June 17, 2000

By	Christine Lynn Jones (Missoula, Montana) - See all my reviews

This review is from: The New Rules of Money: 88 Simple Strategies for Financial Success Today (Paperback)

I bought this book because the hard back version was on the clearance shelf of my local bookstore for only $3.99. After reading it, I discovered why the book was so cheap. It appears that Edelman did not write this book because he cares about consumers/investors, he wrote it for the sole purpose of filling his own pockets with extra change. Mr. Edelman's inability to get his facts straight is blatantly visible throughout the book. For example, Edelman states that the Vanguard 500 Index fund did not exist 10 years prior to the publication of his book (published in 1998). But as a Vanguard investor I can tell you that the inception of the 500 Index fund was on August 31, 1976. He also tells readers to avoid inflation-indexed bonds, claiming that people only buy them hoping that inflation will rise so their bond values will jump. This is nonsense (please don't insult my intelligence Ric). People purchase these bonds as a small conservative part of their portfolio to provide protection against the investments (equities, high-yield bonds, etc.) that decrease in value during times of inflation. Lastly, Edelman completely trashes the Roth IRA. Although the type of IRA that one chooses depends on many factors such as age, income, tax bracket, and expected age of retirement, the Roth IRA is a wonderful choice for many (if not most) young investors. No taxes on accumlated earnings is usually more beneficial than no taxes on contributions (you can figure out the math for your own situation using an IRA calculator). Edelman distorts the facts in order to scare people and sell his book (shock grabs attention and sells a product). There are many other examples throughout his book of half-truths and misrepresentations, but since I am limited to 1,000 words here I cannot name them all. In conclusion, I must say that I do pity the novice investor who chooses this as an introduction to the financial world and heeds Edelman's advice as golden.

28 of 30 people found the following review helpful:

5.0 out of 5 stars This book will make you money!, August 8, 1998

By A Customer

Whoever said that money is a very, very controversial subject was only touching the surface! They should check out these reviews. I believe and know from nine years of investing that a good, emphasis on"good" 401 (k) plan is one of the best investments in America today. To the negative vibes on 401 (k) and other retirement plans, ask yourselves, "How much did you pay in taxes last year?" To the great mathimatical geniouses out there who don't understand non prepayment of mortgages, take out your calculator and figure out which will make you more money; prepaying on a 7%-9% mortgage or putting that same prepayment cash in a good mutual fund and making 15%-20% per year? This is known as "opportunity risk" in the later example, your money could double in 3-4 years with mutuals so why would you want to prepay a low interest mortgage?. As far as the other books recommended, I would suggest "The Millionaire Next Door", 'More Wealth With! out Risk" "Financial SelfDefense" and 'The Richest Man in Bablyon" a lot of the other books either all repeat themselves or are out of sync with the times.

22 of 23 people found the following review helpful:

5.0 out of 5 stars Good advice from a highly qualified CFP, October 30, 2003

By	Melody Cooke (Nashua, NH) - See all my reviews

This review is from: The New Rules of Money: 88 Simple Strategies for Financial Success Today (Paperback)

Ric Edelman may tell you a few things you don't agree with or don't coincide with other so called "experts" who write financial books, but, how are you doing financially? How much money have you lost in the market following their "expert" advice?

I know I got smacked following a certain East Coast female author and got back on track with "What You Need To Do Now" and Ordinary People, Extraordinary Wealth." I have just strated to read this book along with "Discover the Wealth Within You."

I also recommend Suze Ormans excellent books "The Road to Wealth" and "The Laws of Money" to get you on the fact track to financial success.

A lot of what Ric teaches is different and controversial but the bottom line is, it works.