Rating: 
Summary: Ric called it right!
Review: Although widely criticized for warning about the inevitable risk of index funds and capital gains tax liabilities, Ric was right after all wasn't he?To those who lambasted Ric, would you like to change your opinion or at least offer a well deserved apology?Thanks Ric. Great advice!
Rating: 
Summary: Interesting, but self-promoting
Review: As a young, beginning investor, I have been educating myself about investments, savings, etc. With that in mind, I have been avariciously reading almost all the investment books I can find. Edelman's book first brought to my mind a concern about index funds, because every other academic book I've read supports them. I think Edelman has an axe to grind, being an personal finance manager and simply put, to Edelman, Index funds are the anti-christ and must be eliminated. However, his logic does not make sense, nor do his facts and figures hold up. The index funds simply mirror the market, and this they have done very well. He neglects to go into their low fees, and also he does not address the issue of survivorship of mutual funds, that is, that the current data that is published includes only those funds that survive so they are naturally better. Poor funds are simply eliminated or absorbed into other funds.
His comments on mortgages I found interesting, but consider that if you are getting a 10% return on an investment versus an 8% mortgage, that might make sense, but to get %10 you are going to have to invest in something risky (stocks). Can we reasonably assume that 10% is a good reasonable return? I don't think so.
So in sum, the work is biased toward moving money to professional managers while at the same time providing us with statements that are not well thought out. Better books I'd recommend are Malkiel's 'A Random Walk Down Wall Street' and Bernstein's 'The Four Pillars of Investing.'
Rating:
Summary: Before you make your move, check the logic and the math.
Review: Before you make any moves based on this book, you should check the logic and the math of the move. For example: he author gives an example of 2 people, 1 who stays in the same job, and 1 who switches (for more money). His argument is that at the time they retire, the person with 1 job has more in his retirement fund. The author makes the blanket assumption that just because you have more money, you will spend more. That doesn't always apply; you should check your own spending habits before refusing a job just because you may have more money when you retire. Another example: the author suggests you take a long and large mortgage and invest the difference. But if you don't have investment skills and your rate of return is lower than your mortgage rate, you're better off paying down your mortgage, especially if you have a knack for bad investments. 2 other things I find very annoying are his excessive self-promotion and his abusive use of footnotes. There are many pages where there are 3 footnotes. It's very distracting to read, then have to jump to the bottom for the next thought. If the author cannot write in a fluid and readable style, he should take a writing course before writing his next book.
Rating:
Summary: Ric's Forever Poor Job Rule
Review: Boy am I relieved. I can now keep my $5/hour job and retire rich because of my 401(k) plan! As if his last book wasn't rubbish, in this one, Edelman actually recommends not improving your employment situation simply because you might be prevented from investing in a retirement plan for a short period of time. No thanks. I've already invested in 6 years of college and I make 4 times what I did before. I'll make up that loss in a few years and have a nice lifestyle in the process. Besides, he assumes that those who change jobs don't invest in other investments. Making poor assumptions and failing to consider the complete picture, Edelman once again confuses what should be clear in the world of financial planning. Written on his three-week-at-the-beach vacation, this book is worth just about what you'd expect from so little thought and preparation. Abraham Lincoln once said "It is better to remain silent and be thought a fool than to speak and remove all doubt." I'll let it go at that. Some of the better books out there are: "Making the Most of Your Money" by Jane Bryant Quinn, "Die Broke: A Radical 4-Part Personal Finance Plan" by Pollan and Levine, "The Millionaire Next Door" by Stanley and Danko, and "A Random Walk Down Wall Street" by Burton Malkiel. Those should keep you busy for a while.
Rating: 
Summary: nothing gets five stars
Review: Critics take heed - Ric's conversational writing style appeals to most novice/intermediate investors like myself. I have personally ready over thirty books on finance and feel Ric's are the best. I now own all of Ric's books. In fact, I logged on today to purchase this one as a gift for my nephew. I don't know Ric, but I'd like to meet him. Not often do professional people give such straight-forward advice.
Rating:
Summary: nothing gets five stars
Review: Critics take heed - Ric's conversational writing style appeals to most novice/intermediate investors like myself. I have personally ready over thirty books on finance and feel Ric's are the best. I now own all of Ric's books. In fact, I logged on today to purchase this one as a gift for my nephew. I don't know Ric, but I'd like to meet him. Not often do professional people give such straight-forward advice.
Rating: 
Summary: not very sensible
Review: Does this man really believe that it's a good idea to hold a 30 year mortgage for as long as possible, refinancing often? Really??? What if I lose my job before I've accumulated those savings he promises me I'll have because of all the money I'm saving on taxes. What if something happens right after I get that mortgage? He says it's a good thing to have a huge amount of life insurance that can produce enough income to support a family. I can get 2%, maybe 3% on a CD these days, NOT 10%, not 15%, stagger the CD's and I can get some better rates, but I would need a couple of million dollars to have any kind of income that could support a family. I thought insurance was to pay off the big debts and help the family get back on its feet if the breadwinner died, not to supply enough income to support the family forever. This is nuts. But then, Ric E. has interests in insurance companies. OF COURSE HE WANTS AS MANY PEOPLE AS POSSIBLE TO BUY LOTS AND LOTS AND LOTS OF INSURANCE. I have enough insurance so that my mortgages will be paid off and there will be some left over and we won't suffer if our breadwinner -- God forbid -- dies. If the breadwinner dies, insurance is for: mortgage pay off, medical bills, funeral expenses, money for college, money to pay for things like that, that's what insurance is for. Anything else is ridiculous. And to get enough insurance to do like Ric recommends, that would cost a fortune. I have several hundred thousand of insurance right now that costs me a couple hundred a month, whole life, most of it. To get $2 million, I'd have to pay a lot more, unless I was 20, which I am not. Lots of game playing, not much realistic sense here. A good salesman, a good self promoter, a good pitcher of foolish dreams.
Rating:
Summary: not very sensible
Review: Does this man really believe that it's a good idea to hold a 30 year mortgage for as long as possible, refinancing often? Really??? What if I lose my job before I've accumulated those savings he promises me I'll have because of all the money I'm saving on taxes. What if something happens right after I get that mortgage? He says it's a good thing to have a huge amount of life insurance that can produce enough income to support a family. I can get 2%, maybe 3% on a CD these days, NOT 10%, not 15%, stagger the CD's and I can get some better rates, but I would need a couple of million dollars to have any kind of income that could support a family. I thought insurance was to pay off the big debts and help the family get back on its feet if the breadwinner died, not to supply enough income to support the family forever. This is nuts. But then, Ric E. has interests in insurance companies. OF COURSE HE WANTS AS MANY PEOPLE AS POSSIBLE TO BUY LOTS AND LOTS AND LOTS OF INSURANCE. I have enough insurance so that my mortgages will be paid off and there will be some left over and we won't suffer if our breadwinner -- God forbid -- dies. If the breadwinner dies, insurance is for: mortgage pay off, medical bills, funeral expenses, money for college, money to pay for things like that, that's what insurance is for. Anything else is ridiculous. And to get enough insurance to do like Ric recommends, that would cost a fortune. I have several hundred thousand of insurance right now that costs me a couple hundred a month, whole life, most of it. To get $2 million, I'd have to pay a lot more, unless I was 20, which I am not. Lots of game playing, not much realistic sense here. A good salesman, a good self promoter, a good pitcher of foolish dreams.
Rating:
Summary: Excellent
Review: Easy to read for the non-financial savy person. Offers practical financial advice for every stage of your life. Easy reading and excellent!
Rating:
Summary: Though provoking and thorough
Review: Edelman covers almost every situation I might encounter in my life. The short, concise way he uses examples to illustrate his points is effective in making believers. Even if he is not correct in every case (as he says, Ask Around!) he brings the "traps" to the surface for further investigation. Motivational and thought provoking.
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