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Grow Rich Slowly: The Merrill Lynch Guide to Retirement Planning
The world's largest financial institution reviews dozens of retirement strategies designed to help combat the recent instability in pension plans and an unpredictable Social Security system. 100,000 first printing. $100,000 ad/promo. Tour.
- GenresFinance
521 pages, Hardcover
First published January 1, 1993
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Displaying 1 of 1 review
January 23, 2013
I checked this out at the library with the goal of learning a bit about retirement planning. Here is what I can say about this book:
The Good
- a nice introduction to many topics including: investments, tax-sheltered vehicles, trusts, life insurance, etc.
- begins the book by looking at a handful of real life financial situations and what they are doing correctly/incorrectly; refers back to these examples throughout the book.
The Bad
- the book is very out of date concerning tax rules and tax-sheltering options. Also, it does not touch on the ROTH IRA, which is an important part of most everyone's retirement plans today.
- some of the logic for choosing mutual funds made no sense to me. The authors would suggest that if your investments aren't living up to expectations you should dump them and then follow that up by mentioning how short-term performance is often misleading and today's winners are tomorrow's losers. In my opinion, the book would have done better to suggest that the average person invest in low-cost index funds (see Common Sense on Mutual Funds by John Bogle).
Overall
It was worth reading for me, but if I had to do it all over again I would find a similar book that was more up to date.
The Good
- a nice introduction to many topics including: investments, tax-sheltered vehicles, trusts, life insurance, etc.
- begins the book by looking at a handful of real life financial situations and what they are doing correctly/incorrectly; refers back to these examples throughout the book.
The Bad
- the book is very out of date concerning tax rules and tax-sheltering options. Also, it does not touch on the ROTH IRA, which is an important part of most everyone's retirement plans today.
- some of the logic for choosing mutual funds made no sense to me. The authors would suggest that if your investments aren't living up to expectations you should dump them and then follow that up by mentioning how short-term performance is often misleading and today's winners are tomorrow's losers. In my opinion, the book would have done better to suggest that the average person invest in low-cost index funds (see Common Sense on Mutual Funds by John Bogle).
Overall
It was worth reading for me, but if I had to do it all over again I would find a similar book that was more up to date.
Displaying 1 of 1 review