Freshly Printed - allow 7 days lead
Couldn't load pickup availability
The Only Guide You'll Ever Need for the Right Financial Plan
Managing Your Wealth, Risk, and Investments
"Larry Swedroes work comes as close to being the definitive investment book of our time as any that I can imagine. His greatest gift is his ability to communicate with profound simplicity, bringing clarity to the daunting challenge facing investors who are intent on reaching their financial goals." "If you're looking to sharpen your financial thinking, let Larry Swedroe be your guide. With insights from The Only Guide You'll Ever Need for the Right Financial Plan, you should be able to raise your financial game—and maybe boost your family's wealth." "Just as every successful builder needs a blueprint, so too does every successful investor need a personally tailored investment policy. How much stocks, how much bonds? Foreign versus domestic? When and how to begin Social Security or withdrawing from your IRA? Larry Swedroe plots your financial life from cradle to grave (and even beyond). Don’t invest without it!" "This is a most excellent book! Either as a great educational read or an indispensible reference, The Only Guide You'll Ever Need for the Right Financial Plan will pay you back many times over the cover price." "If you have investing experience, and want to improve your portfolio, this is the book to read."
—Bill Schultheis, author of The Coffeehouse Investor
—Jonathan Clements, author of The Little Book of Main Street Money
—William Bernstein, author of The Four Pillars of Investing
—Harold Evensky, President, Evensky & Katz
—Taylor Larimore, coauthor of The Bogleheads’ Guide to Investing
Larry E. Swedroe (Author), Kevin Grogan (Author), Tiya Lim (Author)
9781576603666, Wiley
Hardback, published 13 August 2010
240 pages
23.1 x 15 x 2.5 cm, 0.408 kg
An accessible guide that outlines the key elements of an effective financial plan From Larry Swedroe, the author of the bestselling series of "The Only Guide" investment books, with Kevin Grogan and Tiya Lim comes a step-by-step handbook that shows you how to develop a winning personal investment strategy and reveals what it takes to make that strategy part of your overall financial plan. The Only Guide You'll Ever Need for the Right Financial Plan focuses on the "art" of investing and gives you the information you need to create a strategy that is tailor-made for your particular situation. Designed for savvy investors and professional advisors, this book offers the vital information needed for developing and implementing an overall strategic financial plan. In this essential resource, Swedroe outlines the basics in asset allocation and other investment planning concepts. The Only Guide You'll Ever Need for the Right Financial Plan offers a handy tool to help you make more informed and prudent decisions that will go a long way to ensure a secure financial future.
Preface xv Acknowledgments xix Part I: Investment Strategy in an Uncertain World Chapter 1 The Uncertainty of Investing 3 Efficient Frontier Models 5 Chapter 2 The Investment Policy Statement 9 The Foundation of the Investment Plan 10 Part II: Asset Allocation Chapter 3 Asset Allocation 17 The Ability, Willingness, and Need to Take Risk 17 When Conflicts Arise 21 Risk Factors 22 Chapter 4 Equities 25 Equities versus Fixed Income 25 U.S. Equity versus International Equity 28 Emerging Markets 30 Value versus Growth 31 Real Estate 34 Your Home 36 Collateralized Commodity Futures (CCF) 36 Socially Responsible Investing (SRI) 39 Chapter 5 Fixed Income 41 Credit Quality 41 Short-Term versus Long-Term Maturities 42 Municipal Bonds 44 Inflation-Protected Securities 44 Short-Term Fixed Income versus TIPS 46 Chapter 6 Alternative Investments 49 Convertible Bonds: Not Recommended 49 Covered Calls: Not Recommended 50 Fixed-Income Currency Exposure: Generally Not Recommended 51 EE Bonds: Recommended 52 Emerging Market Bonds: Not Recommended 52 Equity-Indexed Annuities (EIAs): Not Recommended 53 Gold: Not Recommended 54 Hedge Funds: Not Recommended 54 High-Yield (Junk) Bonds: Not Recommended 56 Leveraged Buyouts (LBOs): Not Recommended 57 Leveraged Funds: Not Recommended 58 Master Limited Partnerships (MLPs): Not Recommended 58 Mortgage-Backed Securities (MBS):Not Recommended 58 Precious Metals Equities (PME):Not Recommended 59 Preferred Stocks: Not Recommended 60 Private Equity (Venture Capital): Not Recommended 61 Stable-Value Funds: Generally Not Recommended 62 Structured Investment Products: Not Recommended 63 Variable Annuities: Not Recommended 64 Chapter 7 Liabilities and Asset Allocation 67 Mortgages 67 Prepay the Mortgage or Increase Tax-Advantaged Savings? 69 Other Liabilities 70 Part III: Implementing the Plan Chapter 8 Individual Securities or Mutual Funds 73 Convenience 73 Diversification 74 Size Matters 76 Advantages of Individual Securities 76 Separate Account Managers 77 A Word of Caution 78 Summary 78 Chapter 9 Active versus Passive Management 81 The Evidence 82 The Search for the Holy Grail: Why Is Persistent Outperformance So Hard to Find? 85 The Value of Economic Forecasts 87 The Value of Security Analysis 88 Buy, Sell, or Hold? 89 The Tyrannical Nature of an Efficient Market 89 The Prudent Investor Rule 90 The Benefits of Passive Investing 91 Summary 92 Chapter 10 The Asset Location Decision 95 Exceptions 96 Order of Preference 97 Additional Considerations 97 Advanced Concept 99 Balanced and Lifestyle Funds 99 Chapter 11 The Care and Maintenance of the Portfolio 101 Rebalancing 101 Tax Management Strategies 104 Final Considerations 110 Part IV: The Investment Plan and Financial Security Chapter 12 College Savings Plans 113 529 Plans 113 Coverdell Education Savings Accounts 115 Custodial Accounts 116 U.S. Savings Bonds 117 Financial Aid Impact 118 Chapter 13 Insurance 121 Risk Management 122 Payout Annuities 124 Long-Term Care Insurance (LTCI) 127 Life Settlements 130 Chapter 14 IRAs and Retirement/Profit Sharing Plans 135 Roth versus Traditional IRA 135 Five Key Facts 136 What to Do When Retirement Plan Choices Are Poor 141 IRA Conversions 143 Chapter 15 Social Security 149 Is Social Security a Balance-Sheet Asset? 152 Double Dipping Strategy 155 Chapter 16 Determining a Safe Withdrawal Rate 157 Monte Carlo (MC) Simulations 158 In the Absence of an MC Simulator 160 The Sequencing of Withdrawals to Fund Retirement 163 Chapter 17 Planning Beyond Your Lifetime 167 Estate Planning 167 Preparing Your Heirs 168 Conclusion 173 Appendix A Effective Diversification in a Three-Factor World 175 Appendix B Dollar Cost Averaging 181 Appendix C Reverse Mortgages 185 Appendix D How to Choose an Adviser You Can Trust 191 Notes 193 Glossary 197 Index 213
Subject Areas: Finance & accounting [KF]
