Sustainable Wealth : Achieve Financial Security in a Volatile World of Debt and Consumption

by Axel Merk; Foreword by: William Poole

• ISBN13: 9780470564356
• ISBN10: 0470564350
• Format: eBook
• Copyright: 2009-09-01
• Publisher: Wiley

Summary

A personal finance guide for today's turbulent worldSustainable Wealth empowers you to achieve your financial goals by unleashing the shackles of debt, no matter how uncertain the future may be. Filled with in-depth insights and practical advice, this reliable resource illustrates how you can predict economic booms and busts before they happen, adapt to changing markets and plan for lasting financial stability.Over the course of his career, Axel Merk has been at the forefront of identifying major trends, a leader in the public policy debate on how to fix the economy, and guide for investors looking to navigate the global credit crisis. With this new book, Merk puts your financial decisions in a global context and shows how factors ranging from the Federal Reserve and Congress to trends in Asia and Europe influence your financial well-being. Coaches you how to recognize major economic trends before they happen Puts forth a plan to help you cope with expenses and save for retirement, while building a legacy of wealth, not a mountain of debt Reveals why "staying the course" when governments or markets change the rules may be hazardous to your wealthAs investors struggle to adapt to the new financial landscape, Sustainable Wealth provides straightforward answers to the tough financial questions we face-and the tools to achieve a financially sustainable lifestyle.

Table of Contents

Foreword

Preface

Introduction

Achieving Excellence as a Financial Pilot

What Is Sustainable Wealth?

A Volatile World of Debt, Consumption, and Temptation

Unintended Consequences

The Flight You're About to Embark On .

A World of Temptations

The Temptation of Credit

The Relationship Between Credit and Debt

Credit as Money

The Power (and Un-Power) of Central Banks

Sizing the Debt Problem

A Crisis in Confidence

Credit Crisis Consequences

A Bond Market Bubble?

Credit as a Threat to Sustainable Wealth

Credit as Fuel for Other Temptations

Using Credit Wisely

The Temptation of Consumption

The Consumption Paradigm

The Cost of a Consumption Economy

Long-Term Consequences

Unwinding the Consumption Bubble

What This All Means for You

The Temptation of Policy Change

The Boom/Bust Cycle: Can You Fool Mother Nature?

Goldilocks Intended

Above and Beyond: The Fed Ventures Into Fiscal Policy

More Bad Medicine for Boom/Bust Cycles

Regulation and Taxes: Consistency is the Best Policy

Long-Term Policy Consequences

Policy, Complacency, and Sustainable Wealth

The Temptation of Complacency

Big Hat, No Cattle

Complacency's Counterparty-Risk

The Complacency of Business Legacy

Trust Must Be Earned Every Day

Live Free or Die

Achieving Sustainable Wealth

Challenging Conventional Wisdom

Recognize Your Responsibility

Should You Use an Adviser?

The Proactivity of Sustainable Wealth

Low-Probability, High-Risk Events

Adaptive Investing , Rather Than Staying the Course

The Sustainable Wealth Lifestyle

Saving and Spending in a Volatile World

The Sustainable Wealth Grid

Become a Scenario Planner

Sustainable Wealth: A Store of Value

The Individual Wealth Cycle Model

The Importance of Pay As You Go

Getting a Handle on Expenses

How to Spend Less Than You Earn

Make the Important Standard-of-Living Decisions

Sustainable Wealth in a Volatile World

Crisis Investing

Signs of Crisis

Hope Is Not a Strategy

About Insurance

There's No Such Thing as a Safe Asset

Finding a Place to Hide: Depression Investing

How to Invest in a Bust

Toward Sustainable Wealth

Profiting in a Volatile World

Diversification

Scenario-Based Investing

Investing in the Future

Stock Investing: Investing for Value

Diversification with Real Estate and Land

Diversification into Alternative Investments

Profit Opportunities in an Uncertain World

When to Sell

How to Invest in a Boom

Toward a Sustainable Wealth Investing Model

Sustainable Investing

The Power of Compounding

Doing Investing Right

A Golden College Savings Plan

Taking Risks Without Jeopardizing Sustainable Wealth

Purpose-Driven Investing

Sustainable Investing and the Sustainable Wealth Lifestyle

The Pursuit of Sustainable Wealth and Happiness

The Rewards of Living Within Your Means

Sustainable Work-Life Balance

Leaving a Legacy: Sustainable Giving

Sustaining Wealth Spans Generations

Surgeon General's Warning: Sustainable Wealth May Be Addictive

Final Thoughts

Resources

About the Author

Index

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