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Summary: Some comments & a couple of tips to get started
Review: Although this isn't a bad book, I think Orman's earlier books were much better, so I recommend you try those rather than this one. This book repeats a lot of that material and doesn't offer much that's new. And some of it is a little too touchy-feely. An occasional rah-rah pep talk is okay, but there's too much of it in this book.Also, another problem, having taught people investing principles myself, and which isn't so much the fault of this book as the whole genre, is these books are geared more toward someone who already has money and needs to know how to manage it better. So most of the advice is about basic investing principles and wealth preservation such as avoiding unecessary risks and keeping diversified, developing a sensible, long-term investing strategy and wealth-building program, minimizing taxes and mutual fund and brokerage account expenses, and so on. There's very little help for the person of modest income or limited time who doesn't want to read a 400-page book to learn how to buy their first stock or mutual fund. That being the case, I thought I'd pass on a couple of things I've learned the hard way. I've read dozens of books on the stock market and finance by just about every important stock trader and investor out there and have done everything from very conservative to very risky investing strategies with both stocks and options, including such things as aggressive day-trading, shorting both stocks and options, trading in foreign stocks and markets (including such risky countries as India, Pakistan, Indonesia, Mexico, Argentia, and Brazil), arbitraging short and long butterfly option spreads (which even most pros would not be comfortable with--I was lucky I didn't lose my ...), so I've done some pretty wild things, and I'll tell you the best secret I ever learned. It's actually very simple. While we're on the subject, I should emphasize that although, as I said, I've done some pretty complex and sophisticated (not to mention risky) things, investing needn't be, and perhaps shouldn't be, rocket science. It's possible to do quite well in the market by following simple, tried and true investing strategies and without getting fancy. If you can afford it, put $100 a month into a good mutual fund that will accept this as a monthly contribution. Not all of them do. Often they require an automatic deduction from your bank account, since usually this doesn't meet their minimum deposit. Another way to do it would be to buy the S & P Holder's Trust or mini-index, or a mutual fund that mirrors the overall market. The Vanguard group of funds has one that mirrors the Russell 5000 index. The rationale behind this is that the yearly return over the last 75 years in the stock market is 8%. That's enough for $100 a month to become 1 million dollars in 40 years. However, over the last 25 years the average return (notwithstanding the last 3 years) has been 12 percent, which means the money will double even faster if that keeps up. I'm not confident that will happen, but I wouldn't be surprised if we return to the traditional 8% per year increase. This is the beauty of compound investing. Also, it takes advantage of a strategy known as dollar cost averaging. During the down times when stocks are lower, you money buys more stock. During the up times when stocks are more expensive and therefore more risky, your $100 buys less. This helps to average out the ups and downs in the market. The other coolest strategy I've found is to go long the Dow index whenever it crosses the 200-day moving average on the upside, or to short it whenever it crosses it going downward. This strategy has returned 18% over the last 50 years. But one must be comfortable on both the long and short side which most people aren't. This is a strategy for knowledgeble traders, and isn't so much an investing program. Anyway, those are the two best ideas I've ever come across in terms of simplicity and results. If you can afford more than $100 a month, great. Also, I would recommend you just do that even if you are putting money into other stocks. That way you know you have a strategy that will work over the long term. Just think if everybody did this starting in their 20s or 30s. Most working people can afford $100, and some mutual funds will take as little as $50 this way. I know people who spend that on beer and cigarets in a month. Just think if they put it into this instead. Anyway, just a couple of hard-earned tips from an old, battle-scarred trader and investor. Hope this helps. Good luck and happy investing!
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Summary: Packed with Knowledge!
Review: Amid the slew of personal finance books on the market, Suze Orman's unique approach stands out. Although she has more than 20 years of financial experience and expertise, her books don't merely dispense advice from on high. Her monetary rules may be universal and timeless, but she describes them with the sympathetic voice of a best friend. Written in the aftermath of the collapse of the Internet bubble, her latest advice book aims to comfort shell-shocked investors who are facing huge losses. Orman's primary tactic is to remind readers that money is a means to an end, not an end in itself, and that decisions about money take place in a larger personal and spiritual context. To that end, a helpful workbook is included. We recommend this book to anyone who is wary of making financial decisions in today's unsettling market environment, as well as to those looking to sort out their financial priorities.
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Summary: suze does it again
Review: As a recent college graduate, Suze Orman's approach to finance in her new best-seller really hits home since planning for my financial future is my main focus. Suze's 5 laws brings life and spirituality to the subject of money, which is a seemingly unorthodox marriage. To be taught to trust your instincts and have faith that you will create what you deserve is far more valuable than being told how and when to invest what you already have. Suze's advise is the best out there. Read this book!!!
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Summary: Pretty Much Common Sense
Review: Essentially all the laws of money in this book revolve around one central idea - be true to yourself and express the truth about yourself through the way you handle finances - in short - don't spend more than you can afford to spend; stay within your budget instead of blowing money you don't have and with the money that you do have, do as you please, or rather, use it in a way that is meaningful to you, and plan your financial future accordingly.
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Summary: Not for everyone
Review: Fans of 1,000 page books written by female magazine writers will not like this book. But then again, how are the fans of those 1,000 page books written by journalists really doing financially? CASE CLOSED! 1 star reviewers are obvioulsy looking for something besides what really works. Keep in mind, Suze has a financial background and credentials to back up her advice. Journalists? In my opinion, this is Suze's best book to date. "The Road to Wealth" is also excellent but needs to be updated at least once a year to keep up-to-date with new developments. I also recommend "9 Steps to Financial Freedom" to help develop your base. I do not recommend overhyped books featuring 1,000+ pages of fluffy information and written by journalists that are at least 7 years out of date. Suze is on top of her game and is passionate about personal finance. Many other writers are merely "me too" types trying to cash in on the naive. Suze is the best.
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Summary: cliched advice in a timely manner
Review: Gag. That is my overwhelming response to this book.
Suze Orman has managed to take the absolutely most *basic* facts about personal finance, wrap them in a mass-market machine, and convince millions that this advice is good advice.
If you've ever read almost ANYTHING about personal finance, this book is going to repeat it. If you've got stocks but are upset at the recession, this book will give you BAD advice and you WILL end up loosing money from it.
I give Ms. Orman credit for being successful in her life, sharing her past challenges, and for being a brilliant marketer of her products. However, she gives generic, bad, self-defeating advice wrapped in this "I care about *you*" manner of speech hiding her gloating and condensending manner. Seriously! If you read this book, be sure to note the several times she talks about how she used to worry about providing for her mother, but now it's all worked out and she doesn't have to really worry about money anymore. She says it nicely, but it's disgusting.
Worst of all, this book is only about 1/2 her 'laws' (cliche's released for the recession; I'm sure they'll be another book once we have a bull market again.). The OTHER 1/2 of the book is a workbook for you to go through your life and analyze your financial picture based on the 'laws'. First, do you want to write in your new hard-cover book. Second, are you really so stupid you can't read the book and work through her recommendations yourself that you need a WORKBOOK? Gag. This is the lowest-common-denominator personal finance advice in a slick package. Spend your money elsewhere. Maybe the Richest Man in Babylon?
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Summary: I love the laws of money
Review: Hello: I'm an avid reader of all sorts of books. I love mystery, true crime, novels, and anything political. This book was the second Suze book I have read. It seems simple at first and then when I tried to actually apply these principals to my own life I could see just how valuable they are. Suze has, in my opinion, created these laws from her extensive practical experience of advising thousands of people over the years. So many of my friends borrowed money from their home equity to buy stock. When Suze says invest in the known before the unknown this one law could have saved one of them from losing their home. I think this book is great and truly enjoyed reading it although it was not from one of my regular genres.
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Summary: Even better than "The Road to Wealth"
Review: I actually like this book even better than "The Road to Wealth."
In "The Laws of Money", Suze delivers with 5 powerpacked principles that will change your financial life. It is an easy read and readily practical. "The Road to Wealth" is more like an encyclopedia. Some may or may not apply to you and personal finance changes all the time. "Laws" is timeless. It is inspiring and gets you to take action immediately. For more advice on investing I recommend The Macmillan Spectrum Investor's Choice Guide to Mutual Fund Strategies and Moonlight Investing by J.W. Dicks.
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Summary: The Laws of Money, The Lessons of Life
Review: I bought this book and really like it because it helps me to not be afraid about money or my future. In chapter one Suze writes about facing the truth. The Bible says that you shall know the truth and the truth shall set you free. I found the entire book helpful, and the workbook at the end also makes it easy to personalize. I know that it will change how I think about money and how I hadle it. THANK YOU SUZE!!
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Summary: More appropiate now than ever!
Review: I couldn't think of a better time for Suze Orman's new book; "The Laws of Money." I know that some people are offended by Suze's metaphysical approach combined with her financial expertise. I find the combination to be a winner. Nice cover shot too! As another reviewer stated, if you feel that this advice is too basic, then do a financial checkup--how are you doing financially? If you are doing well, then why are you buying more financial books? I highly recommend "The Laws of Money" to anyone who wants to maximize financial succe$$! Suze, great book. I look forward to your next foray.
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