What You Need to Do Now: An 8-Point Action Plan to Secure Your Financial Independence

by Ric Edelman

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Product Description
Ric Edelman, best-setting author of "Ordinary People, Extraordinary Wealth, " provides a back-to-basics plan for getting started on the road to financial, freedom. The time to act is "now" -- to preserve your financial well-being, secure your family's future, and ensure your peace of mind. Financial expert and best-selling author Ric Edelman's 8-point plan will help you to: Prepare for money emergencies by establishing a cash reserve, with tips on checking and savings accounts and safe places to stash that cash. Provide for your family with the right kind of health, life, disability, long-term care, auto, homeowners, and liability insurance. Preserve your assets with proper estate planning, from wills, titles, and trusts to probate, powers of attorney, and taxes. Secure your home with a 30-year mortgage and do so while you still have a job and can get the loan. Protect your income with the right questions to ask your employer about business continuity coverage, Phoenix plans, and other company-saving procedures. Defend your business with key man coverage, cross training, data backups, off-site storage, consultants, and other strategies. Help others in their time of need to make sure that no one is left behind. Plan your next investment moves by developing carefullydesigned, highly diversified long-term portfolios that will weather any storm.

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All Customer Reviews
Average Customer Review: 3 out of 5 stars

17 of 20 people found the following review helpful:

5 out of 5 stars

Helped me more than anything, 2003-10-31
I had the opportunity to buy another book by this author several years but now regretfully passed and watched by investments go down the drain as I followed advice from another financial author.

Edelmans book helped me to recoup those losses and get back on track. I have since added "The Truth About Money" and "Ordinary People Extraordinary Wealth." I also recommend "The Road to Wealth" and "The Laws of Money" by Suze Orman, another credible financial author.

7 of 21 people found the following review helpful:

1 out of 5 stars don't rush to do any of this, 2003-06-19
Ric still assumes you can get 10% on investments. Right. And your Enron retirement plan will keep you cozy until you're 99.

23 of 43 people found the following review helpful:

2 out of 5 stars An insurance salesman's dream!, 2002-07-09
This book should have been titled "Why you need to overinsure yourself rather than plan for retirement!" Ric uses life insurance *AS* his retirement plan and recommends you maintain enough insurance to provide an INCOME to your family. Not just pay off your debts and provide some cushion for your family, but to actually LIVE off the income. Geez, no wonder insurance rates are sky high! I can see a larger policy for a working man with a wife and young children to support -- so that his wife can have a few years to find her own way. But this man is advocating using life insurance for something it was never intended to be used for.

On top of that, he completely discounts just how much all this life and disability insurance costs. He maintains that if you can purchase a VCR and TV, you can someone find the money each month for all this insurance. Well let me tell you, I did just a basic search for the numbers he recommended for my family and we would pay out OVER $500 a month just for insurance! No thank you. We'll stick with our meager $100,000 whole life policy and the term policy for paying off the mortgage.

And that's another thing! I've never read a financial planning book that advocates not paying off your mortgage! His entire chapter about that was totally contrary to ALL the other advice out there and I couldn't disagree more. One should maintain the status quo, pay your debts, save, invest, and then pay off the morgage! Provide for your own retirement and stop using life insurance as your retirement plan.

16 of 19 people found the following review helpful:

5 out of 5 stars Book achieves its goals, 2001-11-29
This book accomplishs its limited goal and does it well. To say the book is short on detail or substance misses the point of the book. Ric's other books do that. This book is meant to be a quick and basic primer on what people can do now, and it's not meant to be more. Furthermore, to say the author has questionable credentials is amusing. His firm was ranked by Bloomberg as the 5th-largest independent financial planning firm in the nation, with 5,400+ clients and $1.7 billion in client assets. Please, if you're going issue a poor review, make sure its not just a shallow and sleazy ranting.

11 of 13 people found the following review helpful:

5 out of 5 stars Well written book, gives great advice, 2001-11-26
With the evnets of 9/11, many of us don't know where to turn regarding our finances. This book will guide you with great advice. I'm glad I purchased it and will advise you to do the same. An easy read!!!

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