By Jonathan Clements
"A gem from essentially the most great minds in own finance."—Ben Stein, writer, actor, television character, and manhattan instances columnist"Investing, because it is related, is straightforward however it isn't effortless. Jonathan Clements's high quality new Little ebook underscores the important (and price-less) price of simplicity. And his sage recommendation on dwelling the great lifestyles and on spending good and saving correctly would certainly make it, if tough, not less than more uncomplicated for us to accomplish monetary peace of mind."—John C. Bogle, founding father of leading edge and writer of Enough"Nobody, and that i suggest no one, could make the realm of making an investment as effortless to appreciate as Jonathan Clements can. during this great booklet, he teaches major road tips to beat Wall highway at its personal game-and tips to rejoice alongside the best way. This ebook doesn't cease at purely making you richer and smarter; it is going to even assist you lead a greater life."—Jason Zweig, writer of Your cash and Your mind and editor of Benjamin Graham's The clever Investor"Jonathan Clements is one in all our wisest and best writers within the box of private finance. This Little ebook includes gem stones of knowledge not just approximately making an investment, but additionally approximately dwelling an entire and pleasing life."—Burton G. Malkiel, writer of A Random stroll Down Wall Street"Easy to learn, effortless to understan-and effortless to place to work-this Little booklet is a winner. i am getting copies for our children-and their childrens, too."—Charles D. Ellis, writer of successful the Loser's online game
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Extra info for The Little Book of Main Street Money: 21 Simple Truths that Help Real People Make Real Money (Little Books. Big Profits)
If your brother-in-law’s bonds held steady at $50,000, but his home slipped in value to $240,000 and his stocks slumped to $110,000, his total assets would drop 20 percent from $500,000 to $400,000. That might seem grim. But what’s really grim is the hit to his net worth, which would plunge 40 percent from $250,000 to $150,000. Even without a market decline, leverage can sting. Your brother-in-law’s bonds might be yielding 5 percent, while his credit cards could be costing 14 percent. The implication: Your brother-in-law should probably cash in $5,000 of his bonds and use it to pay off his credit card debt.
This might seem like an unnecessary tradeoff. Often, the temptation is to put off saving for retirement and instead deal with goals in the order they occur. That might mean buying the house in your thirties, paying for the children’s college in your forties and then saving for retirement in your fifties. But financially, it makes sense to deal with goals concurrently rather than consecutively—and that means starting to save for retirement right away, while scaling back on the house and skimping on the college funding.
Your real estate agent may be super-savvy when it comes to the property market, but that doesn’t mean she should buy rental real estate. 4. Your brother-in-law is betting on stocks with borrowed money and he doesn’t even know it. Puzzled? To understand what’s at issue here, consider everything you own—and everything you owe. Taking Stock As you tote up your assets, your thoughts probably turn first to things like your savings account, individual stocks and bonds, mutual funds, and real estate. But don’t stop there.