34 of 36 people found the following review helpful
Some good points,
This review is from: The Lies About Money (Hardcover)
I've always enjoyed Ric Edelman's advice (and his show) and agree with many of his tenets mentioned in this book and some of his others. Most is sound and good advice and even though his "carry a large mortgage" is controversial, I agree that it is better to have liquidity rather than a "paid for" house. I re-read the "Truth about Money" AFTER I read the "Lies about Money" and I agree that much of the new book goes 180deg from what he used to say about retail mutual funds. He says concentrate on Exchange Traded Funds and institutional funds that aren't supposedly plagued by corruption...scattered throughout the book, he does have questions to ask you to narrow down how you should be diversifying your assets, and I enjoyed all his pie charts that gave us an idea of where we should be at our age and in our circumstances. He also lists chronologically, every mutual fund scandal with names named. This book is so much a brochure for Edelman Financial, I was moved to check them out. The information they provide says most of his clients do get about a 12% return on their money. I've done much better with my commission based planner and question the almost $9k yearly fee Edelman Financial would charge me to get around that 12% return (for example with a $500k investment). I'd be interested to hear what his current clients have to say about the book. I'd also be interested to hear what those in the retail fund industry have to say about all this.