by Fred Brock
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Product Description
A smart, down-to-earth primer on financial survival-and prosperity-in today's uncertain economy, from the author of the bestselling Retire on Less Than You Think
With Retire on Less Than You Think, New York Times business columnist and editor Fred Brock challenged the conventional wisdom on the real costs of retirement. Now he turns his attention to the hype that is driving money decisions during the working years-credit card debt, health care costs, stagnant wages-and shows how it is possible for all of us to build a secure and prosperous household on less than we think.
Brock offers his distinctive brand of savvy, real-world advice, including how to
- assess the real money value of your job based on commuting costs, benefits, and job market opportunities
- get the most out of location, from tax savings and living costs
- minimize your housing costs while maximizing your assets
- manage major expenses, like college tuition and cars
- cut expensive habits and pay attention to the "little" things to boost your savings
- get to the bottom line on insurance
- play the credit card game to your advantage
Brock shows readers how to analyze their true costs of living so that they can live debt- and worry-free while enjoying themselves and securing their future. A substantial list of national, regional, and online resources as well as work sheets once again give readers the tools to customize and realize their financial plans.
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Average Customer Review:
0 of 0 people found the following review helpful:
 Unless you need the very basics, not helpful , 2009-01-05
I am glad that I checked this book out of the library instead of purchasing it. There was very little useful information in this book. Most of his suggestions are common knowledge. For example: pay down you debt, new cars depreciate rapidly, and it costs more to live in certain regions on the East and West Coast.
I also found his style of writing off-putting. A sizable chunk of his suggestions have been gleaned from interviews with others and he doesn't have much personal insight to share. Also, I question his credibility. Who writes a book about frugality then talks about his $200 blazer, $100 shoes, and 3 brand new cars in a decade?
Overall, if you are brand new to the idea of living within your means, this book might be a helpful primer. Otherwise, you are better off with more comprehensive books.
2 of 2 people found the following review helpful:
 Great Practical Guide of Basics of Living Within Your Means , 2007-07-08
Since I'm a middle Baby Boomer, it was interesting to see the perspective of a few Generation X couples interviewed by the author.
These Generation X couples expected the Baby Boomers to break the Social Security system, so there won't be an Social Security left for them......and therefore they should be more self-reliant than the Boomers. The X'ers also thought retirement should be replaced with having a flexible set of work skills that allow you to work until you are dead. The X's will have a hard time building any significant net worth considering the average college loans are now $20,000 and the X'ers sampled had between $3,000 and $8,000 in credit card debt.
As a Baby Boomer, I am glad to see Generation X people plan to be more self reliant for their financial future.......my generation needs people to buy our stocks when we sell them for retirement living expenses!
I really enjoyed financial planner Deena Katz's recommendation to focus on low cost index funds....since I am a huge fan of Index Funds. Her recommendation for three index funds with 50% invested in the S&P 500, 25% in the Russell 2000, and 25% in foreign stocks is a very reasonable recommendation.
I also enjoyed the portion of the book about salaries and expenses as a function of geography. Choosing where you work or retire to can have a dramatic impact on your living expenses.
The author's opinion is that between this book and his first book, Retire on Less Than You Think....you can easily figure out how to live within your means today.... and you can also learn to live on less than the 70-80% of pre-retirement income that is assumed by Wall Street and the mutual fund industry.
Over-all a great practical guide on how to live within your means through smart planning about college selections, autos, and credit cards.
I would suggest companion books to supplement this book including:
The Richest Man in Babylon
Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
The Millionaire Next Door
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition
Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pro's
The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life
The Bogleheads' Guide to Investing
Wealth: Grow It, Protect It, Spend It, and Share It
All About Asset Allocation.
2 of 3 people found the following review helpful:
I Have More Money, 2007-01-26
Of course, the best reading skill is the use of discernment. Keep the info that resonates/is useful and toss the rest. I was on the right track, but as a baby boomer, did not get on the track soon enough. I read this book one week ago and used some of the advice. I have already seen significant results in cold, hard cash. That says it all.
I am also going to share the reviews with my smoking cessation classes. They are all going to have significant extra money soon.
Thanks, Fred!
3 of 7 people found the following review helpful:
Too many interviews, 2006-08-10
I feel like Fred didn't do a lot of research to write this book. He cites interviews with 'experts' but those interviewed sound too much like the author's own voice. Sort of like the phony 'man on the street' interviews you see in Cosmo magazine.
Who is this book for? If it is for the young, then why a chapter on retirement and funding your children's education? If it is for those ready to retire, then the reader probably already knows all this information, and tons more.
Self help books such as this one are only helpful if the author has done due diligence, and really dug deep to find facts.
11 of 11 people found the following review helpful:
 Buy if you need the basics in personal finance, 2006-07-27
This book would be a great gift for a graduating senior from high school or college, but is of little use to some one who has been managing their personal finances for years. He discusses debt,insurance,education,car payments,credit cards, and retirement.If you understand that you should avoid credit card debt, stay away from car payments, not buy gimmick insurance, and max out your 401K contribution you do not need this book. I suggest "Financial Peace" or "Total Money Makeover" both from Dave Ramesay to really it more in depth and to get your money's worth.
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