A troubled economy calls for answers. Forget complicated, abstract philosophy—people need sound financial advice that’s easy to follow and can be implemented immediately. For the first time, a leading financial adviser has developed a remarkable setMore A troubled economy calls for answers. Forget complicated, abstract philosophy—people need sound financial advice that’s easy to follow and can be implemented immediately. For the first time, a leading financial adviser has developed a remarkable set of guidelines to give individuals the same kind of objective insight into their personal finances that successful businesses have. Your Money Ratios will help readers effectively manage debt, invest prudently, and develop a realistic and effective savings plan to ensure both financial success and security. Readers need only plug their income and age into Farrell’s ratios in order to get an instant picture of their savings status and overall financial health, as well as a roadmap for the important choices they must make in the future. Here’s what you will find in this book:
IF YOU ARE IN YOUR 20s OR 30s: Your Money Ratios will tell you how to get started and what you need to do over the next 35 years to stay on track. If you are lucky enough to read this book when you are young, you will have a clear vision for where you need to go throughout your working career. By setting yourself on the right path, you won’t have to work so hard later in life to meet your goals.
IF YOU ARE IN YOUR 40s: You can benchmark your own financial circumstances against the ratios and see how you are doing with respect to your savings, debt, investments and insurance.
You have plenty of time to make adjustments if necessary and plot out your path to retirement.
IF YOU ARE IN YOUR 50s: The formula will provide you with a realistic assessment of your ability to retire. It will help you make the important decisions about how to allocate your financial resources over the next 10 to 15 years, and how to put on the final push for retirement. Less
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Ben Hyrman rated it liked it
almost 2 years ago
I want to like this book.
The author has a solid grasp of safe withdrawal rates established by the Trinity study as well as realistic portfolio success rates based on historic periods. However, there is very much an assumption baked in that this book is targeted at someone. Read full review
Allison rated it it was ok
about 2 years ago
I wanted to like this book, because the ratios seemed both conservative and easy to keep track of. However, the advice was just way too broad and simplistic (spend as little as possible on a car, for instance). When the author glossed over the differences between a 401k a. Read full review
Andrew Mutch rated it it was amazing
about 4 years ago
Of all the personal finance books that I’ve read, this has been one of the best. The ratios described help you track your progress towards securing your financial future. Elegant in their simplicity, they rely on a hundred years of financial data to provide a reality chec. Read full review
Michael rated it really liked it
about 2 years ago
A well-written and easy-to-follow book on personal finance based on a unique angle. It presents 8 ratios, or “rules of thumb” that you can follow to know where you stand financially, and to answer questions such as: Am I saving enough? Is this mortgage too much for me to. Read full review
Lil’; C rated it it was amazing
about 5 years ago
I stumbled upon this book on the “new books” shelf at the library and I’m so glad I did. It gave me a whole new perspective on finances. Prior to reading this book, the how-to of retirement planning was a very nebulous concept in my mind. But after reading the book, I fee. Read full review
Jack Cheng added it ∙ review of another edition
almost 5 years ago
This is a good beginning financial book for anyone who needs one, and a good check in for anyone further along in their financial life.
For me, I’m happy that it answers two questions that always nag me: do we have enough saved for retirement and how much should we save t. Read full review
ilham.mukhtar rated it it was ok
about 1 year ago
Quickly glanced the book. Capital to Income ratio, Savings ratio, and Investment ratio are recommended like it is cast in stone. not that it is particularly bad. It’s rare that people would stick their neck out and firmly hold the magic number. In any case, worth to be co. Read full review
Thorpe Obazee rated it it was amazing
This is one awesome book. It gives a template on how to manage your financial life through simple ideas (ratios). The reasons for the ratios are quite good too. This will be one book I will go back to from time to time.
Andrew Chang rated it really liked it
about 2 years ago
I like this for its simplicity and tables. Not sophisticated and technical to take you thru the back calculations that this must take, but good for the everyday person to hold some rules of thumb
Nathan Schwartz rated it it was ok
Most personal finance is really simple, and I love to see books strip it down to the very bare bones, but here there were just too many places where there were total palm-to-the-face errors. He uses a 5.5% expected return for treasuries, yes this is what treasuries have y. Read full review
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