Storm Proof Your Money Weather Any Economy, Rebuild Your Portfolio, Protect Your Future

by Arends, Brett

• ISBN13: 9780470482681
• ISBN10: 0470482680
• Edition: 1st
• Format: Hardcover
• Copyright: 2009-12-30
• Publisher: Wiley

Summary

Accessible financial guidance for turbulent economic timesWith the stock market in a tailspin, real estate market continuing to drop, and the economy in recession, it's important to understand how you can get through these difficult times. Whether you're twenty-six or sixty-two, you still need to live and provide for your future. That's why you need Survive the Slump. As the personal finance columnist for the Wall Street Journal Online, author Brett Arends has become an authority for individuals who need to know how to best position themselves and their money. Now, with his new book, Arends has crafted a financial plan that anyone can put to work immediately. From protecting what you have to rebuilding what you've lost, Survive the Slump provides just the guidance needed. Outlines effective strategies for spending smarter, saving more, and making sure that your money grows reasonably Contains straightforward advice that highlights immediate savings opportunities Provides a timely financial action plan from a trusted Wall Street Journal columnistWritten with every investor in mind, Survive the Slump will help you make smarter investment decisions and put you in a better position to survive and thrive under any economic condition.

Author Biography

Brett Arends is an award-winning financial journalist and the personal finance columnist for the Wall Street Journal Online. He has appeared on The NewsHour with Jim Lehrer, CNN, the Michael Smerconish radio show, and a variety of other national and local broadcasts. Arends also writes for MarketWatch. Before joining the Wall Street Journal in 2007, he wrote for TheStreet.com. Arends has a professional background and qualifications in finance, and is a Chartered Financial Consultant (ChFC®) and an Accredited Asset Management Specialist (AAMS). He began his career as an analyst at McKinsey & Co., the international strategic consultancy. He was educated at Cambridge and Oxford Universities.

Table of Contents

Acknowledgments	p. xi
Getting Started	p. 1
About Me	p. 3
About This Book	p. 3
Checking the Map	p. 7
The Lesson of Harry Patch	p. 8
Santa Claus Isn't Coming to Town	p. 9
Where Are You Trying to Go?	p. 12
Where Are You Now?	p. 16
How Much Do You Need to Save?	p. 19
How Can You Move the Numbers in Your Favor?	p. 23
Conclusion	p. 28
The Basics	p. 31
Break Out of Debt	p. 31
Secure Your Financial Lifelines	p. 36
Check Your Big Risks	p. 42
Conclusion	p. 45
How Not to Invest	p. 47
Putting Too Much Faith in Stocks	p. 48
Putting Too Much Faith in Phony Diversification	p. 53
Taking Too Much Risk	p. 55
Misunderstanding Your Mutual Funds	p. 58
Chasing Performance	p. 65
Trying to Find the Next Apple	p. 65
Owning Shares in Your Employer	p. 67
Keeping All Your Money in the Bank	p. 69
Keeping All Your Money in Bonds	p. 71
Stockpiling Gold	p. 73
Investing Too Much in Real Estate	p. 76
Conclusion	p. 80
Storm Proof Your Portfolio	p. 83
Inflation-Protected Government Bonds	p. 84
Global Index Funds	p. 87
Flexible Funds	p. 93
Covered Call Funds	p. 106
Precious Metals	p. 108
Taxable Bonds	p. 112
Municipals	p. 116
Closed-End Funds118
Timing: Little and Often	p. 120
How to Handle a Crash	p. 123
Using Options for Financial Insurance	p. 126
Conclusion	p. 127
Cash Flow Positive from Right Now	p. 129
Your Hidden Costs	p. 130
Repeat Costs	p. 132
Give Yourself a Raise	p. 135
How to Make $500,000 the Easy Way	p. 138
Adding It All Up	p. 155
Further Thoughts	p. 156
Conclusion	p. 158
Cover Your Assets	p. 161
Why Tax Shelters Are More Important Than Ever	p. 161
Make the Most of Your 401 (k)	p. 164
Make the Most of Your IRA	p. 165
Life Insurance and Variable Annuities	p. 166
Self-Employed Shelters	p. 168
Shelters and College Savings	p. 168
Make the Most of Your Investment Losses	p. 171
How Not to Lose Everything	p. 173
Conclusion	p. 175
Next Steps	p. 177
Checking the Map	p. 177
The Basics	p. 178
How Not to Invest	p. 178
Storm Proof Your Portfolio	p. 179
Cash Flow Positive from Right Now	p. 179
Cover Your Assets	p. 180
The Principles of Storm Proofing	p. 180
Staying on Track	p. 182
Getting Started	p. 183
Appendix Investment Spotlight	p. 185
Index	p. 203
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