- Hardcover: 256 pages
- Publisher: FT Press; 1 edition (September 24, 2009)
- Language: English
- ISBN-10: 0137020171
- ISBN-13: 978-0137020171
- Product Dimensions: 5.6 x 0.9 x 8.5 inches
- Shipping Weight: 6.4 ounces
- Average Customer Review: 3.3 out of 5 stars See all reviews (56 customer reviews)
- Amazon Best Sellers Rank: #3,492,784 in Books (See Top 100 in Books)
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America, Welcome to the Poorhouse: What You Must Do to Protect Your Financial Future and the Reform We Need 1st Edition
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From Publishers Weekly
White (The Cost Conscious Homebuyers Guide) paints a grim picture of America's financial future in this scathing indictment of our big banks, retirement system, mortgage brokers and legislators. White argues that middle-class families are headed for an even more disastrous financial catastrophe down the road, a result of our undersaving, overspending and overcharging ways, not to mention an excessively expensive educational system that leaves our citizens mired in debt before they've even begun earning. She explores the roots of our present woes, including underfunded 401(k)s, bad mortgages and unaffordable college tuition, offering such helpful advice as avoiding adjustable rate mortgages and steering clear of home improvements that don't add to your home's resale value. Despite the validity of White's tips, the consumer finance directives seem incongruous along with her pleas for legislative reform and diatribes on larger political issues. While she tries to solve too many problems—large and small, personal and political—in one volume, the tone is winning, and this book will appeal to cash-strapped, mortgage-challenged Americans who are looking for answers. (Oct.)
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"The starkly titled ''America, Welcome to the Poorhouse,'' talks about the severe lifestyle changes ahead for future retirees if they don't prepare now. " -- The New York Times, October 23, 2009.
Top Customer Reviews
I don't understand the reviewers who've criticized "America: Welcome to the Poorhouse" for being "scattershot". Personally, I can't imagine how it could have been better organized or more focused than it is. And the thesis is clear, too: American lives and financial choices are linked to an American economy that creates and perpetuates great financial stress.
Jane White divides the book into four financial themes: retirement; mortgages; college expenses; and credit card debt. In each section, she takes a clear-eyed and specific look at what the problem is, why it continues, and what should be done about it--both by the consumer and through specific legislative reforms.
Essentially her legislative recommendations are: regulate/eliminate lobbyists...require greater employer contributions to employee 401Ks...get rid of adjustable rate mortgages...and reduce your credit card debt and reliance on home equity loans.
I appreciated the clarity of this book and the numerous examples and facts that were used to support the recommendations for change--both change in consumer behavior and legislative change.Read more ›
"America, Welcome to the Poorhouse" by Jane White is a book that deals with ways to protect your future by offering current problems and solutions. Now the book offers White's opinions on how to fix issues, which may or may not work and be something I agree with, but I enjoyed how she spoke up. Too many times people keep ideas to themselves and it always helps to put your thoughts out there and have others work together to build upon them.
According to a CNN Opinion Research poll, only 39% of respondents felt they would be able to continue their current quality of life, 50% were confident they would be continue to be able pay their mortgages, 24% felt they would be able to send their children to college and only 22% had saved enough for retirement. Now I don't know about you, but those figures scare me. I know college and retirement are a long ways off, but really they are things my husband and I should be thinking about. Now this book does not offer personal plans, as much as it is a "We need to do this" and "The government needs to fix this." It was still an interesting read and brought up some good ideas. She also references personal experiences in the book.
Through the following topics of Empty Nest Eggs, Unaffordable Homes, Overpriced Colleges, and Credit-Card Debt, White uses current issues to explain how we are as a society are in trouble.Read more ›
Books like this have no real intellectual value, they are briefly in vogue for a few months after publication, then when no longer current, they are consigned to the remainder bins to make way for the next batch of political jeremaids from the political commentariat. This book is no different.
Unfortunately, the author, instead of pushing for rational improvements, pushes her own agenda of mandatory government savings plans, encourages us to contact Congress to push the agenda, and follows up with some diatribe about how the government should be paying for school, since they do in other countries. It's a shame that her solutions aren't more reasonable and attainable, because her indictment of the current system was truly a 5 star effort.
Most Recent Customer Reviews
America, Welcome to the Poorhouse - never in my lifetime has this been more truly said, and things still seem to be getting worse! Read morePublished on August 29, 2013 by The Reviewer Formerly Known as Kurt Johnson
Cowardly author who pushes her political opinions but hasn't the courage to allow feedback via ANY social media. Read morePublished on November 4, 2012 by Thomas J. Landry
I've had a financial adviser for decades, read The Economist, watch 60 minutes etc. If you want to know about U.S. debt, here is a site that tells it all: [... Read morePublished on October 18, 2012 by R. Eye
The economic climate and rules change every day. This book has been out for a while now but there is still alot of revelance in it. Read morePublished on February 13, 2012 by RDtoo
This is simply a lot of bunk - superficial and ill-informed. What is the author's super-duper, secret, terrific advice for recouping all the loses people have suffered in the... Read morePublished on January 2, 2011 by Cooljonnorris
Like many books, there were good parts and terrible sections. White does an excellent job of identifying and proclaiming problems in our society today. Read morePublished on December 4, 2010 by pbcook
This book is a bit relentless.
Our financial system is stressed in various ways. Many Americans share certain characteristics in how they are not prepared for... Read more
I pushed back my review on Jane White's America, Welcome to the Poorhouse because I wasn't really sure how to review it. Read morePublished on April 1, 2010 by sanoe.net