- THE TOTAL MONEY MAKEOVER by Dave Ramsey
- THE TRUTH ABOUT MONEY (New 4th edition 2010-11) by Ric Edelman
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Showing posts with label Book List. Show all posts
Showing posts with label Book List. Show all posts
Tuesday, April 5, 2011
Books - Updated List Since Last List posted in 2007
Additional books that I would highly recommend (after "Buckets of Money" and "Pensionize Your Nest Egg" - the links for these can be found on the bottom left-side of the blog page) are:
Monday, October 8, 2007
The Lies About Money by Ric Edelman
Here is an excerpt from MarketWatch. Ric's "The Truth About Money" was very good. I agree with the analysis below, hesitantly and pre-maturely about this book, "The Lies About Money", since I haven't read the book yet (actually I have now finished the book and plan to do a book review on this blog in the near future):
"Financial adviser and best-selling author Ric Edelman has a new book due out this month in which he says the scandals are a big reason why he soured on mutual funds; the book includes a "mutual fund scandal timeline," that gives a day-by-day laundry list of misdeeds running from October of 2003 through May of this year.
That ignores the first 80 years of mutual fund history which were, essentially, scandal-free, but also focuses on recent history as if it is guaranteed to be repeated. Just as an investor should not buy a fund entirely based on recent past performance, using the rearview mirror as a reason to eliminate them as an investment vehicle is a dumb idea.
"What more and more investors have realized is that they're not losing out on performance because of scandals, they're losing because they try to trade in and out of funds and they're not helping themselves by doing it," says Nachmany.
"Investors seem to be recognizing that it's less about the funds you own than it is what you do with your funds. ... For the most part, investors are well served by mutual funds, and they need to focus on that more than on some isolated problems from the recent past." "
Chuck Jaffe is a senior MarketWatch columnist. His work appears in dozens of U.S. newspapers.
"Financial adviser and best-selling author Ric Edelman has a new book due out this month in which he says the scandals are a big reason why he soured on mutual funds; the book includes a "mutual fund scandal timeline," that gives a day-by-day laundry list of misdeeds running from October of 2003 through May of this year.
That ignores the first 80 years of mutual fund history which were, essentially, scandal-free, but also focuses on recent history as if it is guaranteed to be repeated. Just as an investor should not buy a fund entirely based on recent past performance, using the rearview mirror as a reason to eliminate them as an investment vehicle is a dumb idea.
"What more and more investors have realized is that they're not losing out on performance because of scandals, they're losing because they try to trade in and out of funds and they're not helping themselves by doing it," says Nachmany.
"Investors seem to be recognizing that it's less about the funds you own than it is what you do with your funds. ... For the most part, investors are well served by mutual funds, and they need to focus on that more than on some isolated problems from the recent past." "
Chuck Jaffe is a senior MarketWatch columnist. His work appears in dozens of U.S. newspapers.
Wednesday, April 18, 2007
Books
- FIRST BOOK TO GET IS
- Ray Lucia's "Buckets of Money" - How to retire in Comfort and Safety. Dumb title, absolutely great concepts and a philosophy wholly endorsed by BourGroup. Read it.
- Here are some others:
- YOUR MONEY OR YOUR LIFE, by Joe Dominguez and Vicki Robin.
- QUICK STEPS TO FINANCIAL STABILITY by: Gail Liberman and Alan Lavine; Spouses Gail Liberman and Alan Lavine are syndicated columnists. Their latest book is "Quick Steps to Financial Stability (Que/Penguin)." You can contact them at http://www.moneycouple.com/
- UNCONVENTIONAL SUCCESS: Yale University Lazy Portfolio: 5 funds
David Swensen's the manager of Yale University's endowment fund and author of this must-read book. - Bogle's fabulous new book, "The Little Book of Common Sense Investing."
Tuesday, October 17, 2006
Book Ideas of my own (not written as of yet)
MY BOOK.
Well, it is not written yet, but here some of the ideas on chapters/subjects:
One chapter will deal with the reality that the inflation rate actually increases in retirement because:
(1) Your mortgage payment (which used to include principal and interest payments that were fixed) now includes only property taxes and home insurance premiums (which go up faster than inflation - at an average rate of 6-7% over long periods, though recently it has been much more)
(2) Your health insurance premiums (you now have to pay for) and they are a greater percentage of your lower income than they were when you were working. And they increase faster than inflation, too.
(3) Car replacement, of-course, is another big one because cars increase at about a 7% rate because you have to pay for the new features which are part of the price and you cannot opt out of.
If inflation for a worker is 4-5%, then for a retiree it is probably double that at 10% (I will have to run the numbers and see). Hello out there? I run all my retirement estimates based on average inflation rates of 3.2%. All planners who use Monte Carlo use 3-4% too and it makes a big difference if the number is double or triple that!
Now the CPI index does have a new index they are trying to work out called the CPI-E which tries to average the Consumer Price Index for retirees. It is still in beta testing but also is trying to uncover the higher inflation rate being experienced by those in retirement.
Well, it is not written yet, but here some of the ideas on chapters/subjects:
One chapter will deal with the reality that the inflation rate actually increases in retirement because:
(1) Your mortgage payment (which used to include principal and interest payments that were fixed) now includes only property taxes and home insurance premiums (which go up faster than inflation - at an average rate of 6-7% over long periods, though recently it has been much more)
(2) Your health insurance premiums (you now have to pay for) and they are a greater percentage of your lower income than they were when you were working. And they increase faster than inflation, too.
(3) Car replacement, of-course, is another big one because cars increase at about a 7% rate because you have to pay for the new features which are part of the price and you cannot opt out of.
If inflation for a worker is 4-5%, then for a retiree it is probably double that at 10% (I will have to run the numbers and see). Hello out there? I run all my retirement estimates based on average inflation rates of 3.2%. All planners who use Monte Carlo use 3-4% too and it makes a big difference if the number is double or triple that!
Now the CPI index does have a new index they are trying to work out called the CPI-E which tries to average the Consumer Price Index for retirees. It is still in beta testing but also is trying to uncover the higher inflation rate being experienced by those in retirement.
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