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Customer Review

27 of 28 people found the following review helpful
5.0 out of 5 stars Excellent for the Intermediate to Advanced DIY Investor, September 17, 2010
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This review is from: The Only Guide You'll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments (Hardcover)
This book is brief, but it contains a great deal of helpful information for managing your portfolio.

For example, I particularly enjoyed the authors' discussion of risk tolerance as having three components: need to take risk, desire to take risk, and ability to take risk. In my experience, most investors don't take the time to consider that last one--ability to take risk. If you don't have a specific plan of action for what you'll do (specific ways you can cut your retirement spending, for example) if your portfolio doesn't put up the returns you expect, then you can't afford to take much risk in your portfolio.

Bravo to the authors for pointing that out.

My one caution would be that, if you're brand new to investing, this may not be the book to start with, as Swedroe and crew make no apologies about using technical terminology. If that sounds intimidating to you, I'd suggest starting with Swedroe's "Wise Investing Made Simple" instead.
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