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: 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: Huh what?
Review: I found a review supposedly by a school teacher from Florida complaining about middle income brackets of $54,000. He goes on to to say that he won't see that in 35 years. I work for a school system in Pennsylvania and I don't know how I'd live on only $54,000/per year. I also know people in Florida who are making 6 figure incomes. One guy I know made over $50,000 last month. Don't blame your profession, your location or Ric Eedelman. Blame the guy you see when you look in the mirror!
Rating:
Summary: I'd rather follow the old rules
Review: I found this book very interesting. I'm in very bad credit card debt, and this book gave me some good advice. I don't really agree with all of the "new rules", but it gives some very good ideas. It mentions things about retirement and buying a house that I would have normally never thought about. I wish I had found this book a couple years ago. I would recommend this book to anyone.
Rating:
Summary: Great advice
Review: I shouldn't be surprised that there are a lot of negative reviews. Personal finance is exactly that....personal...and with the personal factor involved people will have different ideas about what they like and don't like, etc. I think the thing that gets overlooked about the ideas Edelman shares in this book and his others is that if you want an index fund or a short mortgage, you can still do that. I don't think the effectiveness of the kinds of techniques and ideas Ric promotes should immediately be shot down just because you like index funds and he doesn't. Are you going to shun dollar cost averaging your index fund as well, because Ric hates index funds and likes DCA? Well, now you're just being silly. That's why I think this is an extremely valuable book. No matter what you want to do with your own finances, there is something here to help you. Maybe you don't like his approach to investing, but you may find his ideas on saving for college indispensible. Maybe you're just curious about what a municipal bond is, or how it behaves. It's an extremely malleable approach to personal finance. It's more goal-oriented than return-oriented. It focuses on the long term, regular joe investor, not the day trader. And one last thing about the author. I don't know if any of the other reviewers live in the DC area and get the oppotunity to listen to Ric's radio show, but Ric is very fair-minded about how he presents his financial planning firm. He repeatedly advocates shopping around for the firm that can help you best, and certainly doesn't think that he is the only game in town. He brags about his achievements and the success of his firm, but so what? Wouldn't you rather take advice from a guy widely recognized as top-notch in the industry?
Rating:
Summary: Great book Ric!
Review: Like Ordinary People, Estraordinary Wealth and Discover the Wealth Within You, Rc Edelman challenges common dogma (and ignorance) and puts a breath of fresh air on personal finance.The argument on having a paid off home or keeping a mortgage is much like the buy term insurance and invest the difference that started in the 70's with Art Williams. You are better off carrying a.mortgage and investing the difference. A good mutual fund will grow at 20%-25% per year which in 4 years means your money doubles. I don't know of houses that double every four years. A paid off mortgage is like money in a shoe box, it makes you feel good, but does you no good.Controversial, you bet. Does it work, absolutely.
Rating:
Summary: Edelman is a controversial guy
Review: No doubt that Edelman is a very controversial guy--just check out these reviews. However, Edelman is also very knowledgeable and very accurate. He accurately called the Index Fund fallout as early as 1998. HE WAS WIDELY CRITICIZED FOR THAT. But as someone who listened to him, I am glad he was so perceptive!Likewise, Edelman suggests to carry a mortgage vs having a paid off mortgage and invest the difference. As another astute reviewer commented, this is a lot like the old term vs cash value life insurance debate. Which is better?Cash value is generally the better value for the insurance salesman. Likewise, a paid off mortgage is not doing you any good because it is a liability and provides no income. Better to put that extra mortgage moneyin good investments that can grow 20%-25% per year.Edelman may be controversial but his advice is right on.
Rating:
Summary: Good advice from a highly qualified CFP
Review: Ric Edelman may tell you a few things you don't agree with or don't coincide with other so called "experts" who write financial books, but, how are you doing financially? How much money have you lost in the market following their "expert" advice? I know I got smacked following a certain East Coast female author and got back on track with "What You Need To Do Now" and Ordinary People, Extraordinary Wealth." I have just strated to read this book along with "Discover the Wealth Within You." I also recommend Suze Ormans excellent books "The Road to Wealth" and "The Laws of Money" to get you on the fact track to financial success. A lot of what Ric teaches is different and controversial but the bottom line is, it works.
Rating:
Summary: Good advice from a highly qualified CFP
Review: Ric Edelman may tell you a few things you don't agree with or don't coincide with other so called "experts" who write financial books, but, how are you doing financially? How much money have you lost in the market following their "expert" advice? I know I got smacked following a certain East Coast female author and got back on track with "What You Need To Do Now" and Ordinary People, Extraordinary Wealth." I have just strated to read this book along with "Discover the Wealth Within You." I also recommend Suze Ormans excellent books "The Road to Wealth" and "The Laws of Money" to get you on the fact track to financial success. A lot of what Ric teaches is different and controversial but the bottom line is, it works.
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