Summary of The Lies About Money

Achieving Financial Security and True Wealth by Avoiding the Lies Others Tell Us – and the Lies We Tell Ourselves

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The Lies About Money book summary
If you just know the truth about money, you can reduce your risk, lower your fees and improve your returns.

Rating

8 Overall

9 Applicability

7 Innovation

7 Style

Recommendation

Financial adviser Ric Edelman outlines some sound principles of investing in simple, straightforward and accessible chapters. Anyone wondering about how to save and invest can benefit from reading his book, either because you’ll learn something new or because you’ll be reminded of old, true principles. However, some of Edelman’s recommended asset allocation strategies may be open to further discussion, even when studied in the light of the portfolio selection principles that he outlines in the book. getAbstract recommends paying very careful attention to Edelman’s solid chapters on financial basics, academic research, mutual fund abuses, and specific challenges such as saving for retirement, life insurance and income investing.

In this summary, you will learn

  • How to use the basic principles of finance and investing in assembling your portfolio
  • How to avoid being misled by 20 questionable mutual-fund practices, confusing sales pitches and dubious investment advice
 

Summary

A Guide to Strategy
Investing isn’t about beating the market. If the markets fall but your investments fall less, you’ve beaten the market and still lost your money. Use your investments as tools. Keep these four factors in mind: Discipline – Have a regular...
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About the Author

Ric Edelman hosts The Ric Edelman Show on the ABC Radio Networks and writes a syndicated advice column. He heads a wealth management company and is also the author of The Truth about Money and Ordinary People, Extraordinary Wealth.


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