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Summary: Interesting, Motivating, and Understandable
Review: Big book that I finished in less than a week. Great advice, gives you pointers on what to be wary of, and what has time proven strategy.Easy, actually more like FUN to read. And motiviating. This is the best point. If you aren't motivated to act, it wont help you anyhow. The examples and descriptions make the goal of commanding personal finances and "owning your money" realistic. It does this by making you understand the processes. Thats all I can say on this book, read the other reviews, they cover the rest. One more thing though: Why would you take advice from a canadian about a book written about the American financial institution?
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Summary: Edelman raises the bar on personal finance
Review: I have read and reviewed most of the popular money guides in the past. I was pleasantly surprised by the 3rd edition of The Truth about Money. The book displays excellent accuracy about choices, is very up-to-date (through December 31, 2003), reads easily, and combines practical advice about human behavior with math. If you only read one money guide, I suggest this one. As an example of how well disciplined this book is, the rules about IRAs are very hard for anyone to keep straight. Mr. Edelman provides a blue pullout bind-in insert between pages 484 and 485 that asks you questions about yourself. Then based on your answers, it tells you which IRA choices you should pursue. Each part of the book (Introduction to Financial Planning; Understanding the Capital Markets; Fixed Income Investments; Equities, Packaged Products; The Best Investment Strategies; The Best Financial Strategies; The Best Strategies for Buying, Selling and Owning Homes; Taxes, Taxes, Taxes; Retirement Planning; Insurance; Estate Planning; and How to Choose a Financial Advisor) has a brief quiz at the end to test your knowledge. Mr. Edelman cleverly suggests that you check out the quiz before reading the section to help you focus on reading what you don't already know . . . and to track how well you've learned your lessons. I enjoyed that feature. The first parts about financial markets are excellent for making the material interesting. The examples are cleverly drawn to help you understand how compounding works and why you want to have a more stable portfolio so that you can a good combination of risk and reward. I was very impressed by the practical advice on human emotions. The stories are superb for showing how emotions can lead you astray. One woman did a great job of getting assets out of her estate, but neglected to be sure that her daughter wrote a will. As a result, the assets came back into the woman's estate when the daughter died before the mother with worse tax consequences than if the mother had done to estate tax planning. In other instances, he points out that most people won't have the discipline to execute superior strategies and points out choices that will take advantage of our normal sloth in financial planning. As an attorney and a financial consultant who often advices entrepreneurs on financial matters, I found the explanations of key issues to be succinct, accurate and remarkably complete. I wish I could explain half these points as well. As I finished the book, I realized that the only possible improvement I could think of would be to add a section that takes significant life events (such as taking a first job, getting married, having a baby, changing jobs, getting divorced, losing a parent, and so forth) and listing what actions each person needs to take in such a situation. That would draw together all of the elements of the book in a much more useful way. Assuming that there is a fourth edition (and I'm sure there will be), perhaps Mr. Edelman will add that feature. In the meantime, follow the parts of this advice that fit your personality . . . and get expert advice when it's called for. May all your financial decisions be well-informed ones!
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Summary: What a great book!
Review: I know that a lot of people are criticizing this book because the other promotes many of his own products. He's salesman, that's undeniable. However, this is precisely what makes the book so good. Edelman "sells" his ideas so thoroughly and so amazingly well that one cannot resist reading and rereading.
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Summary: No one else would dare write this book but Ric
Review: Ric Edelman has long been my favorite financial author. He has mastered his craft and is the best. Ric has the unique ability to mix humor with fact. His books are fun to read and very, very informative. I gave my copy of the original version and never got it back. Even so, I would have bought this one anyway. It is new and improved and sorry, I'm not loaning this one out. Edelman's advice is right on. He correctly called the coming decline in index funds way back in 1997 and was right on, even though he was widely criticized for it. What I like most about Ric is that he is not a me too author. His information is fresh and accurate. He is an innovator, not mainstream by any means. He is controversial and at the same time offers advice that really works in all areas of personal finance as well as investing. People who followed the mainstream concepts of investing lost money to the tune of 7 trillion dollars. People who followed Edelman's advice over the last three years made money. If you want the best financial advice, read Ric Edelman. His advice is right on.
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Summary: This book has no real competition
Review: Ric Edelman's 3rd edition of The Truth About Money is the most complete book on money management period.It's rare to find a financial author who is skilled in the conventional methods of personal finance and has a largebase of successful clients to back him up.This man knows what he is talking about. Ric is the best. Get this book and get your finances in order.
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Summary: Overall, an excellent guide to personal finance
Review: Ric's advice is easy to understand and he provides the insights you need to succeed financially. My only criticism would be that some of his suggestions (i.e., "don't buy gas, buy stock in Exxon") go too far and ignore practical realities. There are times that we do have to spend money, as few people are realistically going to walk to work or disconnect their telephone. I'm all for frugality, but sometimes Ric takes it a little too far. Nonetheless, this is an excellent addition to any library in terms of its financial advice; he covers just about every area of finance, and doesn't shy away from telling you exactly what strategy will work best. If you're looking for specific advice and not someone simply explaining the options, this book is among the best out there - and it's an entertaining read as well.
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Summary: Edelman's best book yet. Outstanding!
Review: The Truth About Money 3rd edition is more than just a updated version of the very best financial book ever written. It's almost like a totally new book. Some many other authors out there just revise a few things and more or less put a new cover on an old book. Not Ric. This book is completely redone. The Truth About Money is an easy read. It is informational, entertaining and enlightening. And it stands alone as a single source of financial information. Want to know how to buy your first home, your next home and save on taxes when you sell. It's in here. Want to get the facts on estate planning and long term care; learn how to protect yourself and your family? It's in here. Want to learn the ABC's of investing; from annuities to zero coupon bonds, mutual funds to writing covered calls, go from owing money to owning money. Get out of debt and stay out of debt? It's in here. And how about retirement. Do you want to learn the right steps that you need to take to reach the American Dream? Then read Ric Edelman's new book. I considered myself pretty savvy on investing untill I took the 130 question money quizzes that Ric provides. I was surprised to find out how much I didn't know. The Truth About Money is divided into 18 sections, 86 chapters and 625 pages. With all of that, you would think that this book would be a difficult read. Wrong. It is a delightful read. Ric is not only the most knowledgeable of financial authors, he is also one of the best writers in that he can take the most difficult subjects and make it fun and easy. No wonder his books have sold so well! Ric is uniquely qualified to write on the subject of personal finance. Aside from earning the designations of CFS, RFC, CMFC, and QFP he was named by Research magazine as the #1 financial advisor in the nation for his focus on the individual client in 2003. His firm Edelman Financial Services, Inc. has won more than 50 professional, business, community service and philanthropic awards and has been ranked twice by Bloomberg Wealth Manager as one of the largest independent financial planning and investment firms in the nation. The firm has created and implemented financial plans for more than 6,500 clients, and today Ric and his team manage $2 Billion for investors across the country. If you want to buy just one book on personal finance, The Truth About Money should be that book. It is excellent. Everything you need to know about personal finance is in here. 5 stars is not enough. Amazon, you need to go back to 10 stars for this outstanding work by Edleman.
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Summary: Edelman raises the bar on personal finance
Review: The Truth About Money is the most complete and up to date financial book on the bookstands right now. And Edelman is an authority on money. First of all, The Truth About Money is 645 pages packed with powerful financial information. It is split into 13 sections and 89 chapters. This is very complete. Everything you need to know about money is in here. From sending your kids to college, to investing, to insurance, to buying a home to retirement. Edelman spends a considerable amount of time discussing the greatest discovery of the 20th century--compound interest. Simple but I am continually surprised at the number of people who do not understand or even have heard of the rule of 72. After reading Edelman, you will understand it and pursue your investing with new vigor. Ric also has a full chapter on how to prepare for economic collapse and another chapter on social security. Edelman recommends that regarding social security, that "you take and money and run" meaning that you are better off to retire and take benefits at age 62 than wait untill later. Considering the current sad state of the social security system, I couldn't agree more. Another way to put it is take the money now because it may not be there later. At 645 pages, The Truth About Money may appear challenging but in reality is a eay and fun read. This not Jane Bryant Quinn. Ric Edelman is both a financial expert and a interesting writer. I got through the book in a few days. It was hard to put it down. Since the book was written in November 2003, The Truth About Money is also the most up to date financial book out there. Forget those books that were written by magazine writers in 1997 and were out of date even before they were released. Also, this book is obviously updated from Ric's first 2 editions. If you have either of those books, this one is bigger and better. Ric Edelman is not one of those authors who puts 2 pages of new information in a older book and calls it "new". This edition has been completely revised. It is like a new book. Highly recommended book.
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Summary: A good book... take wit Grain of Salt...
Review: This was a great book, with many solid chapters..... Many chapters that are 'fact-driven' are worth the read... However some chapters have Edelman giving you advice, and many of which will not suit your best interest.. Some of which is carrying a big mortgage.. and staying away from index funds... Please, please do your research... The book should not have been called "Truth" about money ... since many of the chapters have Edelman giving his 'own' opinion.. Remember that your financial standpoint might be very different .. so take his point of view with a grain of salt and do your research before following his advice... However many of the fact driven chapters in this book are indespensable.. and are very much true... but Edelman's advice many not be the 'whole truth'...
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Summary: This book has no real competition
Review: While there sure are a lot of books on personal finance, there are none as comphrehensive as Ric Edelman's great work The Truth About Money 3rd edition. And there are not that are as current. Most of the books that are on the bookstands have been around for awhile and say pretty much the same thing. Ric is different. He is controversial. But his advice really works. Ric is not some magazine writer without a financial background who has never helped anybody and decides to write a book. As another reviewer has indicated, Ric is very qualified to speak on personal finance. Other books that are useful include The Automatic Millionaire and although they have been around for awhile, The Millionaire Next Door and More Wealth Without Risk still offer powerful advice that you won't find anywhere else. The Truth About Money is an outstanding book that must be read by anyone whow ants to learn the truth about money. The facts, not just opinions. Advice that is tried and true, not tired and through as with some financial authors. And as already mentioned, this book has been updated and is current. Not just a new cover on an old book.
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