Personal Finance for Dummies, 5th Reprint
- ISBN13: 9780470038321
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
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Product DescriptionToo many personal finance consultants offer financial advice that ignores the big picture and instead focuses on investments. You need to plan your future much more than that. You need a broader understanding of personal finances, which includes all areas of your financial life in order to be financially sound. Personal Finance for Dummies is the 5th Edition of detailed, action-oriented full financial advice to you, as you will see lower costs and domestic debt. . . More>>
Personal Finance for Dummies, 5th Reprint
I do not agree with the author of this book about the fundamental conflict of interest issue. Mr Tyson claims repeatedly in this book that insurance sellers are not trusted for their advice, because their commission on the size of the policy premium, which they sell is based. The sellers are really to be compensated in several ways. For starters, they make a large commission on the first sale of insurance to earn (or investment). However, the Commission will continue to pay generally, in the next 10 years. If you decide you were misled as a buyer who can not afford the premiums, or simply decide not only do you want the insurance to pay, the seller loses a substantial portion of this commission. In addition, most sellers who are themselves "financial ________' their living by servicing a customer base. This growing customer base through referrals. If a seller is under pressure from customers to buy junk they do not need, it will be terribly difficult to develop relationships that lead to that high quality recommendations. Referring your `financial ______' corresponds tipping waiters, and it is an important part of their compensation. Any seller who does not quickly clear that out of business very quickly. Deferred Commission and referral process are two safeguards designed to protect consumers. But while on the topic of conflicts of interest, where does Mr. Tyson's interest (pun intended). Well, he is an author of a book. Generates revenue by selling books, and books that sell well are, generally fun to read. How can a book about the value of sound investment and insurance against one's own death, and other otherwise dull subjects interesting? Now we can always try to frighten the readers! I expected this book to things like: "What will happen when its time to withdraw, and you have no money ?!?!' or say "who cares for your family if you are eaten by piranhas ?!?!'. Instead, Tyson was trying to give us financial experts fear. A genius move by an author of a book will probably be read by the hard do-it-yourselfers. Now it is us against them! It is obvious that he tries to the good old "use fear = entertainment shtick when the pages with" PASS "shark fins and" WARNING "time bombs" scattered. This can be not only conflicts of interest to the readers of financial damage, but Tyson even has the momentum at the end of a paragraph of each chapter with a note on another book that he is an editor / co-author. And one more thing that I remember that. Tyson seems to think that even if you should find a reputable financial adviser, who makes his salary from the commission, you had no business with him. Two points of interest: 1 Many financial advisors will offer various options, they paid. If you choose the fee for the service method, you should be in a situation where your account will require frequent attention. Otherwise, the Commission is the foundation are often cheaper. 2. To the best of my knowledge there is no evidence that the cost ratio of insurance commissioned, sold through high seller is intrinsically larger. The only study I did on this subject was published in 1979, and it concluded that "no evidence that insurers are more efficient than doing without agents with agents." This is the Journal of Risk and Insurance to be found, vol. 46, No. 1 page 61-74.
Rating: 1 / 5
Most of the tips are obvious. I would be a different book if I had the chance.
Rating: 2 / 5
This seller is a credit to Amazon. Product was delivered with lightning quick delivery in excellent condition.
Rating: 5 / 5
This book is nothing more than a regurgitation of information available in most financial institutions. The book has two main themes, no credit and save money. They are both a duh, for most people, the money is budgeted to save the problem. Most of the details in this book focuses on where and how you invest your money.
Rating: 1 / 5
This book is especially good for the person who wants to invest a broad overview about. It will start you with a solid base to more money. After reading, I opened a Scottrade account, because they had the lowest ($ 7), and had no inactivity fee. [. . . ] To get a referral, for 3 free trades.
Rating: 4 / 5