Book Description

This bestseller has powered the careers of countless professionals. The new edition builds on the book's reputation for comprehensiveness, accuracy, and currency, incorporating all the recent changes to the accounting literature. ... Read more

Reviews (1)

Great Accounting companion
This book is a great companion to the Textbook Intermediate Accounting by Donald E. Kieso, and Jerry Weygandt. Helpful to the serious accounting student in identifying their mistakes and correcting them. Aids the student in the correct formatting for this course. This should be used only after the problems have been worked out as a check. ... Read more

Book Description

This book provides readers with an introduction to e-business terminology, strategic implications, and the important risks, threats, and opportunities to consider, particularly with respect to the accounting profession.Chapter topics include “How the 'E' is Changing Business,” e-business models, identifying and managing the risks of e-business, and implications and opportunities of e-business assurance. Chapters 4 and 5 feature updated examples, ideas and statistics designed to reflect the new positioning (and new “principles”) of the WebTrust and SysTrust services, as well as expanded coverage of XML/XBRL.For those in the accounting field seeking specialized information on E-Business, e-commerce, accounting information systems, and computerized accounting. ... Read more

Reviews (2)

Wonderful!
The authors of this book, respected widely as accounting professors and as cheese analysts, brilliantly combine the keener points of e-business accounting and cheese analysis.

This book is *not* just for accountants!
Just finished reading, marking, dog-earing this book!This is an excellent sourcebook for anyone, particularly business professionals, who want perspective on e-Commerce and e-Business.In fact, I wonder if the book has been mis-titled somewhat.In this five-chapter book, only the last chapter or two is directed to helping accountants and other assurance-service professionals understand their position in the e-Business space.The first three chapters are worth the price of the book to anyone interested in a fast, but in-depth, overview of how e-Business has emerged, its basic technology, and where it is likely headed.I particularly enjoyed the authors' effort to incorporate a lot of specific examples of successful and not-so-successful companies.The footnotes and references to each chapter are also extraordinary!Like most of us in the human race, I don't often read the footnotes. However, with this book, I was marking and crosschecking references with abandon.We're all struggling to "keep up" with the e-Business race.As I read this book, I felt like I finally fully understood a number of key issues of e-Business-despite having been a CFO of a fast-moving e-Commerce startup!I certainly recommend this read to anyone who feels that they might be slipping a little in "the race." ... Read more

Book Description

Get refreshed with Horngren/Sundem/Stratton's Introduction to Management Accounting, 13th Edition. This best-selling book offers a relevant, real-world decision-making approach to management accounting. Readers develop a solid understanding of costs and cost behavior and the use of cost information for planning and control decisions, not just inventory valuation. This book emphasizes the notion that “You need to understand the business first, before you can understand the accounting of business.”Updated to cover the most recent methods in management accounting, topics include: cost behavior, cost management systems, and activity-based costing; marketing and product decisions; the master budget; flexible budget and variance analysis; management control systems; capital budgeting; cost allocation; and job-costing and process-costing systems. An excellent reference resource for managerial accountants.

Book Description

USA Today has called Suze Orman "a force in the world of personal finance." For years, Suze has anticipated what you need to know and want to know about your money. Her books, radio and television shows, columns, and newsletter about personal finance have helped millions of people like you turn their financial lives around. The author of three consecutive runaway New York Times bestsellers, Suze is renowned for her unique brand of financial savvy, tell-it-like-it-is honesty, and dynamic motivational style, which propels her readers and audiences to change the course of their financial destiny. In this groundbreaking book, she continues to transform your relationship with money.

Never before has there been a money book and life guide like The Laws of Money, the Lessons of Life. In a natural evolution of Suze's authoritative view of the world of money, and characterized by her straight talk, warmth, and humor, The Laws of Money, the Lessons of Life reveals a revolutionary new paradigm of personal finance. The 5 Laws of Money are vital principles that you need to know whether you are old or young, male or female, with or without money, a novice or a veteran investor. These five laws operate without exception -- at all times, in every culture -- and apply to everyone, as Suze shows in the compassionate stories adapted from real-life situations that she recounts throughout the book. And the universal truths and lessons contained within each law help you learn how to keep what you have and create what you deserve. Anyone can -- and must -- put these laws to use today in order to survive and thrive in these times of constant upheaval and financial turmoil.

The Laws of Money, the Lessons of Life provides an eminently sensible, highly effective process for gaining control over your life and your money. Through pointed questions about your attitudes toward money, with insightful financial exercises and personal guidance, Suze deciphers the false hopes and fears that keep you from making smart, confident decisions and choices about your money. Her take-charge optimism and realistic action plans will jolt you out of any financial confusion or paralysis, whether you're beginning your career or at a midpoint, planning for or already in retirement. You will learn to assess your current spending, savings, and investments, and acquire a sure sense of what you can do with the money you have and the money you want to have. A thorough guidebook is included that helps you put the laws into immediate action and see their lessons manifest in your own life.

Profound and practical, The Laws of Money, the Lessons of Life will help you get out of debt, create what you want, and protect your money, your family, and your future. With these laws as your guide, you can avoid ever being a financial victim again. ... Read more

Reviews (47)

I'm good enough, smart enough, and doggonit people like me!
This book is great for people who are inexperienced in handling finances. Suze lays forth ideology that should be followed if you are interested in having a good retirement and being able to provide for your family in the future. Many of the ideas presented in this book she states over and over again on her CNBC program The Suze Orman Show.

Some of the thinking put forth is plain common sense - such as realizing the damage that could result from building a high credit card debt. Some parts cause you to think about the financial implications beyond the obvious - such as the additional costs of owning a home.

Suze's books are geared towards individuals unfamiliar with the world of finance; people who shy away from words like "investing" and "interest rates". If you are starting off your life and intend to plan a financially prosperous future, definitely read this book. It could save much hardship in the future by giving you something to follow when making a major purchase such as a home, car, or college. It will help you plan your retirement. I would not recommend this book if you are financially competent and want to take your investments to the next level, such as diving into the stock market.

The additional pages in the back for writing notes and completing "exercises" did not intrigue me. But overall, the book was well written and Suze was able to bring her own personal parables into the book, making it an interesting read.

Extremely Helpful and Readable
Suze's book is full of hard hitting honesty, not only in her personal tidbits, but in providing the advice you need to follow in order to your financial life in order. Her laws are simple, but deeply thought out and when you read the book and really realize what the laws mean, you can easily relate them and apply them to your life. I understand that Suze may appear to be a marketing machine, but as someone who has met her, I can attest that she is genuine and truly cares about helping people gain control of their finances and get out of debt. After all, the cover price of this book is much cheaper in the long run than paying for advice from a random financial advisor. Suze has proven herself, time and time again, to be a savvy, smart, helpful resource for people who are willing to take the time to read her books and apply the lessons within to their own lives. This book is by far her best one yet and I believe it will quickly become a classic resource for anyone needing a solid finance guide.

"Truth creates money. Lies destroy it."
This book challenges the reader to seek honesty and reality in their investing; the book challenges the reader to find out where they are (realistically), what they want to achieve, and then make an honest and realistic financial plan to accomplish the changes. This is really the essence of the present book.

You need to construct an honest and realistic plan with good investment vehicles. So this book has a lot of the normal sound advise that people give but it has a series of questions and work sheets to you to construct a plan and to do some self examination - the closest thing to having the author actually there as a personal consultant.

I think this is one of her better books and cuts right to the core of the whole savings and planning approach.

Jack in Toronto

Packed With Knowledge!
Amid the slew of personal finance books on the market, Suze Orman's unique approach stands out. Although she has more than 20 years of financial experience and expertise, her books don't merely dispense advice from on high. Her monetary rules may be universal and timeless, but she describes them with the sympathetic voice of a best friend. Written in the aftermath of the collapse of the Internet bubble, her latest advice book aims to comfort shell-shocked investors who are facing huge losses. Orman's primary tactic is to remind readers that money is a means to an end, not an end in itself, and that decisions about money take place in a larger personal and spiritual context. To that end, a helpful workbook is included. We recommend this book to anyone who is wary of making financial decisions in today's unsettling market environment, as well as to those looking to sort out their financial priorities.

This is not going to be a popular review
Let me start off by saying that I respect Suze Orman and she has actually been of great help to me in understanding money. (See my "So you'd like to ... Save with Suze?" guide to the left of the page.) The main theme that runs through all of her works is that you define your money; your money does not define you. And I particularly appreciated THE LAWS OF MONEY, THE LESSONS OF LIFE for opening my eyes to the fact that financial power does not equal personal power. To the contrary, many wealthy people do not feel they have personal power. They feel trapped by their wealth (aw, what a burden that would be!) and are afraid to make their own decisions. So, Suze has been of great help to me in many regards, and I actually think of her every time I spend a dime of my own money.

On the other hand, I think that Suze Orman occasionally indulges in an incredibly simplistic view of money. Let's start with the first Law of Money she presents: "Truth creates money. Lies destroy it." Uh ... erm ... well ... this isn't exactly true if you look at the world from a historical perspective. Many wars have been founded on lies, with the result being great wealth to the lying victor and poverty to the conquered. There are too many examples in history for me to even choose just one. In other words, Suze loses me when she starts to try to fuse spirituality and economics. The underlying assumption of her work in this regard seems to suggest that if you are spiritually enlightened then you will always be financially sound; if you are plagued by financial problems then you are not as spiritually awakened as you could be. Take this logic a little further, and the assumption will be made that the rich are more spiritually aware than the poor. I don't think there's anything inherently unspiritual about being wealthy, nor do I believe that poor people are closer to God. I believe that economics plays no role in one's spiritual life. Suze presents a different view, often suggesting that we turn to God for financial advice.

Further, as an avid reader of the works of Noam Chomsky, I know that there is no such thing as free market capitalism. In UNDERSTANDING POWER, Noam Chomsky explains that on an economic level our system - and the system of just about all successful nations - is somewhere near fascism. He doesn't mean that all successful countries have gas chambers and concentration camps, but massive state intervention into the economy, and an economy kept stable by taxes. Chomsky elaborates to explain that what made the United States wealthy was the extermination of the indigenous population and the importation and use of Africans as slaves - which has nothing to do with free market capitalism. Chomsky says that textiles were the oil of that era. And in today's age, where oil is the main resource, oil prices are kept at an affordable level only by extreme international violence perpetrated by the United States government - which, again, has nothing to do with free market capitalism. Another interesting tidbit is that early in the 20th Century there was a movement throughout the United States to destroy public transportation and build highways, thus ensuring a huge market for oil in the US. Of course, the US consumes more oil than any other nation on earth. I realize now that Suze Orman's work is all based on the assumption that free market capitalism is very real, and that one need merely to open their eyes to the opportunities that are available. This is an incredibly naïve perspective. But it's inevitable that she would have this perspective because if she were to question or help the average person understand that our economic system is rigged, then she'd be out of a job. She'd never find a publisher, and no major network would allow her airtime.

So, to sum this up: Suze is of great help inasmuch as her advice to not gauge your self-worth on how much money you have, to not equate personal fortune with personal power. And she certainly knows her way around the economy as it is set up. But her approach is shallow and naïve when she attempts to teach about the nature of economics and to fuse spirituality and money.

And now you may commence with the neggies. ;)

Andrew Michael Parodi ... Read more

Book Description

The most practical, authoritative guide to implementing GAAP

Until now, accountants have had no guidance for what controls, policies, procedures, forms, reports, or archiving requirements they should use to properly mesh with the latest GAAP. An ideal companion volume to the Wiley GAAP guide, the GAAP Implementation Guide provides the practical application information essential to ensuring that a company’s accounting systems are fully capable of incorporating the most recent GAAP.

GAAP Implementation Guide features handy, illustrative decision trees showing how to determine which GAAP ruling to use in a variety of situations, eliminating hours of time wading through detailed GAAP rulings. Other helpful, timesaving features include:

• A concise version of the more detailed GAAP found in the Wiley GAAP guides
• Specific accounting policies that comply with GAAP, especially in terms of creating controls that mesh with GAAP
• The most common accounting transactions modified to work within GAAP restrictions
• Specific controls that allow the maximum level of control over accounting systems while remaining in compliance with GAAP
• Templates for forms and reports that can be used in a GAAP-compliant accounting system
• Numerous examples of footnotes that can be used to describe GAAP-mandated financial disclosures
• Hundreds of GAAP-compliant journal entries for most accounting transactions
• Identification of the types of reports and other information to be retained as part of a comprehensive accounting system

GAAP Implementation Guide is a valuable tool for CFOs, controllers, accounting managers, and general ledger accountants who need to ensure that their company properly treats all types of accounting transactions in accordance with GAAP. ... Read more

Book Description

"August Aquila and Bruce Marcus reward readers of Client at the Core with an imaginative map for the perilous journey through the twists and turns of marketing and managing today’s professional services firm.It is creative and thorough."
–Gerry Riskin, Partner, Edge International

"The authors have captured the changing role of professional services marketing and firm management.There is valuable insight [in this] down-to-earth guide to competing successfully in the new environment."
–David Maister, author and consultant

"The book is a masterpiece!Aquila and Marcus have produced the essential guide for managing a professional services firm.They’ve marshaled their considerable real-life experiences and far-reaching vision into a veritable operating manual for the successful firm."
–Rick Telberg, Editor at Large, American Institute of Certified Public Accountants

"At its heart, this book is the running shoe for legal and accounting professionals who want to put the client first.Following the evolution of the industry over the past twenty-five years, this must-have for every professional services firm is the key to leading in the turbulent and highly competitive waters ahead."
–Richard S. Levick, Esq., President, Levick Strategic Communications, LLC
coauthor,Stop the Presses: The Litigation PR Desk Reference

"Client selection and retention is one of the critical success factors for a professional services firm, and Aquila and Marcus do a masterful job at educating us on the necessary ingredients of each.The chapters on firm governance and paying for performance are thought provoking and certainly challenging to the conventional wisdom.If you want a better understanding of marketing and leading a professional firm in these turbulent times, this book is essential."
–Ronald J. Baker, author, Professional’s Guide to Value Pricing and The Firm of the Future

"Client at the Core is a commonsense approach to keeping your professional services firm relevant in the twenty-first century’s client-driven economy.Aquila and Marcus have hit a home run with their insightful analysis and poignant prose."
–Jeffrey S. Pawlow, Managing Shareholder, The Growth Partnership, Inc. ... Read more

Book Description

Today's most complete, up-to-date reference for controlling credit risk exposure of all types, in every environment

Measuring and Managing Credit Risk takes you far beyond the Basel guidelines to detail a powerful, proven program for understanding and controlling your firm’s credit risk. Providing hands-on answers on practical topics from capital management to correlations, and supporting its theories with up-to-the-minute data and insights, this authoritative book examines every key aspect of credit risk, including:

• Determinants of credit risk and pricing/spread implications
• Quantitative models for moving beyond Altman’s Z score to separate “good” borrowers from “bad”
• Key determinants of loss given default, and potential links between recovery rates and probabilities of default
• Measures of dependency including linear correlation, and the impact of correlation on portfolio losses
• A detailed review of five of today’s most popular portfolio models—CreditMetrics, CreditPortfolioView, Portfolio Risk Tracker, CreditRisk+, and Portfolio Manager
• How credit risk is reflected in the prices and yields of individual securities
• How derivatives and securitization instruments can be used to transfer and repackage credit risk

Today’s credit risk measurement and management tools and techniques provide organizations with dramatically improved strength and flexibility, not only in mitigating risk but also in improving overall financial performance. Measuring and Managing Credit Risk introduces and explores each of these tools, along with the rapidly evolving global credit environment, to provide bankers and other financial decision-makers with the know-how to avoid excessive credit risk where possible—and mitigate it when necessary.

Reviews (1)

a complete, robust and comprehensive valuable resource!
In Measuring and Managing Credit Risk, the authors provided a robust, complete and comprehensive treatment of several aspects of modern credit risk measurement and management. Written by two high talented practitioners, this book will become certainly a reference both for academics and practitioners thanks to its careful treatment of several not so known empirical issues which practitioners have to face everyday. At the same time, do not consider the book as a new recipes book for managing credit risk. Both authors already proved their deep knowledges of financial theory and establish once again, through this book, how advanced knowledges of theory combined with significant practical experience make leading researches. As a PhD candidate in Finance, actually writing on credit risk, I definitively adopted this book and higly recommend it for anyone dealing with credit risk issues either through a practical experience or through a theoritical work. ... Read more

Book Description

If you’re like most people, you want to be sure that, once you’ve passed on, no more of your property and money will be lost to the government than is absolutely necessary. You want to know that you’ll be leaving your heirs your assets and not your debts. You want to be absolutely certain that your will is ship-shape, your insurance policies are structured properly, and that every conceivable hole in your estate plan has been filled. And most of all, you’d like to do all of this without driving yourself crazy trying to make sense of the complicated jargon, jumble of paperwork, and welter of state and federal laws involved in the estate planning process.

Written by two estate planning pros, this simple, easy-to-use guide takes the pain out of planning for your ultimate financial future. In plain English, the authors walk you step-by-step through everything you need to know to:

• Put your estate into order
• Minimize estate taxes
• Write a proper will
• Deal with probate
• Set up trusts
• Make sure your insurance policies are structured properly
• Plan for special situations, like becoming incompetent and pet care 
• Craft a solid estate plan and keep it up-to-date

Don’t leave the final disposition of your estate up to chance and the whims of bureaucrats. Estate Planning For Dummies gives you the complete lowdown on:

• Figuring out what your really worth
• Mastering the basics of wills and probate
• Using will substitutes and dodge probate taxes
• Setting up protective trusts, charitable trusts, living trusts and more
• Making sense of state and federal inheritance taxes
• Avoiding the generation skipping transfer tax
• Minimizing all your estate-related taxes
• Estate planning for family businesses
• Creating a comprehensive estate plan

Straightforward, reader-friendly, easy-to-use, Estate Planning For Dummies is the ultimate guide to planning your family’s future. ... Read more

Reviews (4)

Good Hands-On Guide
Planning your own demise is never easy, but made easier with a good, basic reference like this. While it may not substitute for an estate planner, it will give you the concepts and language. It will also give you current trends, like getting better deals through pre-planning. At www.architarium.com, we are seeing a boom in advance purchase of mausoleum spaces, which is not only a cost savings but an investment as spaces are now traded nationally. Plan the funeral you want while making financially sound decisions. Your survivors will thank you.

A Great Balancing Act
I already owned several books about estate planning when I bought Estate Planning For Dummies. The books I had were pretty comprehensive, but they went into far more detail than I really needed, and I wound up not doing as much as I should have since I was more confused than anything trying to digest all the different kinds of trusts, etc. However, this book gets right to the heart of the various topics it covers (and is pretty funny in some places, too!). It doesn't try to be an encyclopedia or a book for estate planning lawyers. But it succeeds at what it does apparently intend to do, which is help the average person like me understand just what I need to concentrate on for my estate planning and what I don't need to worry about. Bill Gates and Warren Buffett wouldn't get much out of reading it (though they might find it entertaining) but for the other 99% of us it's the perfect book to help figure out where we are in estate planning and what else we need to do. I definitely recommend it, it's very easy to read.

Extremely well organized.
I read a lot of Dummies books, and one thing I really like about them is that they are usually well organized. Estate Planning for Dummies is no exception. The authors start with relatively simple concepts like just what is your estate and how to figure out how much it's worth, and then move on to wills. There is lots I didn't know about wills, such as what they discuss about probate. Then they move into trusts, and do a good job since they get right to the heart of the matter and help you figure out whether or not trusts even make sense, depending on your particular situation. I also thought the chapters on estate taxes were well done, too. I knew about the federal estate tax, which doesn't apply to me, but I was unaware of gift taxes, state inheritance taxes, and the estate recovery act.

All in all, I now have a much better idea of estate planning and even picked up a few hints to talk to my lawyer about for adjusting my will, which I already had but hadn't updated in a long time. That's another thing the authors do well, which is mention over and over how you need to regularly update your will, your insurance, and everything else that's part of your estate planning.

The book I REALLY needed!
Just the information alone about the federal estate tax trap on how my life insurance policy was set up, and the estate taxes that would have unnecessarily been owed, made this book the best thing I could have found for my estate planning. I was also getting overwhelmed with all of the ads I'd hear about on the radio and see in the newspaper about living trusts and was nervous that people were just trying to sell me something. After reading this book, I have a much better idea of living trusts and all kinds of other trusts, and feel much more confident deciding what makes sense for me.

Another thing I really liked is that the authors very clearly describe what you can and should do yourself, and what you should work on with (as they put it) your estate planning team (lawyer, accountant, etc.).

The good news is that after reading this book, I now have a much better idea of what my estate planning needs to include. The bad news is that I also realize how much I still have to do! Fortunately, I have a pretty good roadmap now. I strongly recommend this book to anyone who wants to get a handle on everything that estate planning includes (which I didn't realize was nearly as much as the authors cover). ... Read more

Book Description

Why do so many otherwise smart people make foolish financial choices? Why do investors sell stocks just before they skyrocket -- and cling to others as they plummer? Why do shoppers overspend when using credit cards rather than cash? What do our habits of tipping or buying lottery tickets indicate about our relationship with money?

In this fascinating investigation of the ways we spend, invest, save, borrow, and waste money, Gary Belsky and Thomas Gilovich reveal the psychological causes -- the patterns of thinking and decision making -- of irrational behavior. Most important, they focus on the decisions we make every day and, using entertaining examples, provide invaluable tips on avoiding the financial faux pas that can cost thousands of dollars each year. ... Read more

Reviews (33)

BAD THINKING HABITS "STALL" YOUR ECONOMIC PROGRESS
WHY SMART PEOPLE MAKE BIG MONEY MISTAKES is full of examples of decisions you might have to make. You get to choose an option, and then the authors tell you what you should have chosen. This is a great learning technique to bring home the lessons of this superb book. The authors point out several biases that most people have about money (such as it's okay to blow certain money, but not other money -- all money is really the same), themselves (people always overrate their abilities and get taken as a result), and circumstances (even people who got an A in statistics will usually misanalyze the risks they take). Since money is ultimately about math, a lot of your lifetime income and earning potential is lost in the process of following these biases. This book could make or save you a million dollars. You cannot afford not to read it. I was reminded of a parallel book on the same sorts of problems about bad thinking habits as they apply to work situations called "The 2,000 Percent Solution" which you should also read. If you use the lessons of both books, you will be enormously better off financially in your lifetime. It'll be like owning the casino, instead of losing money in it. Good luck!

It answers some of the whys but does not tell how
This book is quite a smart blending of economics, financial management and trading psychology that targets at the average investors who are supposed to be not knowlegable in the above aspects.

In 203 pages and 7+2 chapters, the authors tell 1) how mental accounting can help you save or cost you money 2) how loss aversion and the sunk cost fallacy lead you to throw good money after bad 3) how the status quo bias (resistance to change) and the endowment effect make financial choices difficult 4) how ignorance about math and probabilities can hurt you 5) why important decisions are based on unimportant information 6) how costly it can be of overconfidence 7) how dangerous it is to rely on tips and the financial moves of others.

The authors on the average spend 3/4 or even 4/5 of each chapter to tell a problem, and the rest to give a summary and several points on the means of correction, which I believe those to be far from helpful. (I always have the opinion that for improvement in behavioral psychology, a systematic approach that guide the readers step by step and in great detail is a must).

To echo on my review, I would like to quote what's written on the first sentence of the conclusion chapter. -----"Life would be a lot simpler if we could summarize the ideas presented in this book with a set of prescriptive nuggest - "The top ten mental moneys secret" or "The seven habits of financially effective people." Unfortunately, there are no easy fixes for many of the issues we've touched upon. Change is often hard won..----My dear authors, you intended to make it happen in this book, but you failed. I am afraid that you had made your readers worse off by reading your book, coz you had already led them into the status quo bias and anchoring you described in chapter 3 and 5.

Solid start to understanding behavioral finance
Belsky does a very good job introducing many of the crazy things people do with their money, a good beginning to explain why markets are not efficient and an important fact to understand.

Overated Book
While some of the book is interesting it is more geared for the beginner in investing. A lot of the issues brought up are nothing more than common sense. I read it in a couple of days and felt let down by the simplistic approach to investing problems and the suggested solutions.

Great Read
It leaves you begging for more. The problem is that at times they talk down to the reader --a little journalistic, more than warranted by the topic.
Still the more readable work on behavioral economics. ... Read more

Book Description

No Matter Where You Start, David Bach Can Help You Live and Finish Rich

With his national bestsellers Smart Women Finish Rich and Smart Couples Finish Rich, renowned financial advisor and educator David Bach has taught millions of people of all ages and incomes how to take control of their financial future. His message, that the key to building wealth is “values first, stuff second,” has inspired people all over the world. Now, The Finish Rich Workbook gives couples and singles alike a new opportunity to tailor his advice for their individual circumstances. Combining the down-to-earth, jargon-free approach that has made him so popular with the hands-on practicality of a workbook, this new addition to the Finish Rich series is like having a one-on-one session with David Bach.You will learn how to:

• Use the power of the Latte Factor™, David Bach’s international recognized approach to building wealth on a few dollars a day.

• Apply the Debt Free SolutionTM, a powerful way to reduce debt quickly and repair your credit in the process.

• Organize your financial life in minutes with the FinishRich Inventory Planner™ and File Folder system, including a pull-out summary of where you stand financially.

• Craft a personalized FinishRich QuickStart™ plan–a to-do list for today, this month, and this year, so you can get started right away.

• Find the perfect financial advisor by using the FinishRich Advisor Questionaire™ to find, interview, screen, and score an advisor before you hire them.

Whether you’re working with a few dollars a week or quite a bit more, Bach’s nine-step program will help you put the Finish Rich wisdom right to work for you. ... Read more

Reviews (5)

Excellent Guide for Learning
This book will educate you from ignorance to near-expert levels by simply following along with the step-by-step sytem outlined so simple in its pages. It is every bit as powerful and effective for its subject-matter as Tom Leonardi's "Secrets of Sensual Lovemaking" and Clint Arthur's video guide "New Sex Now". I would highly recommend that readers get this book if they are serious about mastering their personal finances, and get the other two if they are desiring improvement in their personal relationship with a loved-one. These are all very great products which are e-z to use, simple to learn, and very effective.

Perfect for those who need a simple, clear financial plan
If you already read financial books, this isn't for you (you'll already know everything in this book) But for the rest of us, this is perfect- a clear, easy and, most importantly, personalized plan for achieving financial goals and staying out of debt, achieving economic security and retiring comfortably. Bach's examples are inspiring and he has tips for controlling expenses - from waiting 48 hours before buying anything that costs $100.00 or more to showing how saving as little as 3.33 a day can add up to significant savings over time. His graphs and tables are very easy to follow and his worksheets are equally simple.
Perfect for anyone wanting to save more, from students just out of college to families in a budget crunch.

Balancing YOUR values and money management
We gave this book to each of our 7 children. Within a week, one child had reported back that their family had discovered how they could save $1500 a year using the principles found in the latte factor.
This book teaches money management skills that are based on one's personal values. It takes one through excercises designed to help one identify what values are important, and then based on those values develop financial goals. For example, if missionary work is an important goal, this book will help one develop a plan for saving towards that goal. Mr. Bach emphasizes that YOUR values should drive your financial planning.

Get Your Hands Dirty To Enrich Your Finances & Your Life!
The reason I like David Bach so much is he doesn't give dry advice. He coaches and cajoles you into figuring out what your values and goals are, and then helps you examine how your finances can get you there. I love his books Smart Women Finish Rich and Smart Couples Finish Rich, and hoped this work book would be a valuable addition.

It is very helpful, and just the coaching/figuring life values part is worth far more than the purchase price. I am confused, though, as to whether this is supposed to be a companion guide to his "Finish Rich" books, or if it's a stand alone book. It does seem to contain much of the information from his books, without as many anecdotes (which I personally enjoy - they make the material come alive) - so there is overlap, but not completely.

My advice to you is to but this AS WELL AS the Smart Women (or Couples) Finish Rich book. Read the main book so you get the wonderful personal flavor that Bach imparts, but use the workbook to do the exercises. It's a little more expensive since you're buying two books, but for my husband & I, it's been worth every penny.

Excellent! Just What I Needed!!
I just started doing the exercises in the workbook, and this is hands down the best book on personal finance I may have ever picked up. The presentation of the material is very straight-forward, and really allows the reader to get a firm grasp on their financial situation. I look forward to reading more books by Mr. Bach in the very near future. ... Read more

Book Description

Not everyone is cut out to be a professional accountant. But thanks to Accounting For Dummies, 2nd Edition you can get a handle on the financial aspects of your business, investments, or taxes. Accounting professor and author John A. Tracy sheds light on the mysteries of

• Generating income statements and balance sheets
• Establishing budgets, controlling profit and cash flow, stemming losses, and managing inventory
• Evaluating profit margins – and identifying ways to increase them
• Making financial decisions that keep investors, creditors, and managers satisfied
• Reading financial reports
• Surviving an audit and using the results to improve your accounting system
• Putting the latest computer technology to work to help you manage the bottom line

If you've steered clear of accounting because you thought it incomprehensible by mere mortals, prepare to be enlightened. Accounting For Dummies, 2nd Edition empowers you with knowledge you can't afford to be without. ... Read more

Reviews (10)

Not for people who want to learn how to crunch some numbers.
If you are looking for a book that actually gives you good examples that will teach you to crunch some numbers on your own and prepare accounting statements and such, then this is NOT the book for you. It has a lot of writing about the different areas of accounting, but it did little for me. I was looking for a book that gave me real life examples that could help me understand how to do minimal accounting for my smal business. Some of the other introduction to accounting books are much better in this regard.

Very Good book for Financial and Mangerial Accounting
This is a great book for a person to use to suplment what is learned and practiced in Both entry level college accounting classes. It really will help you get a better grade in the class by reinforcing and explainations that are different then your typical college textbook. I highly reccomend this book for any college student that will be taking accounting, it is well worth it's price and I believe if read during the semester along with the practice in your class you will get a better grade. I did.

this seems to be another great success by the dummies series
I have not read the book but I am familiar with the series. To me it seems to be a very good book. My advice: do not listen to those who give this book a low rating

not so exciting
This book is quite disappointing, and I (someone with no accounting background) find it boring and too easy--the manual for an accounting software seems more exciting than this. I feel there is little about accounting in this book; rather, I find a huge section praising what accountants do. I think if numbers give you a headache and you abhor math, you may consider laboring through this book. Otherwise, try something else.

Not for you if your looking for a bookkeeping treatise.
This book is great (I mean great) if you need to understand what is profit, whats in a balance sheet, how to understand it, whats in an income statement. What are assets, etc, etc. This book will open your eyes. Like others have said its not about double entry bookkeeping, or how to prepare your balance sheet. Find that elsewhere. This book addresses what the numbers mean and how to follow them to come to conclusions and how to use that information.

Let me put it this way. If you have a small business, or are put into a position where you need to manage money for a business, or need to buy a business. This book will help you if your not accountant savy.

Its a great book, and is very well written. Another five star success for the dummies series. ... Read more

Book Description

"The world of investing floats on a vast sea of words, most of which are obvious, simple-minded, and clichés, and all of those are dangerous to financial health. The story in this book bears no relation to all that stuff. Ineichen’s message is original, powerful, comprehensive, and essential to robust financial health. The literary clarity he blends with his financial wisdom is an additional blessing."
–Peter L. Bernstein, President, Peter L. Bernstein, Inc.,
author of Against the Gods and The Power of Gold

"No one can afford to risk money in hedge funds without reading this comprehensive guide. The details are illuminating, presentation captivating, analysis brilliant and lessons profound. A wonderful contribution to the hedge fund literature."
–Prof. Narayan Y. Naik, Director, Centre for Hedge Fund Research and Education, London Business School

"A good understanding of the working of the hedge fund market and hedge fund strategies is important for every active investor. Ineichen’s book does an excellent job tying together historical, empirical, and theoretical analysis in a way readily accessible to practitioners. A more comprehensive examination of the hedge fund market and hedge fund strategies would be hard to find."
–Hans de Ruiter, ABP Investments, Senior Portfolio Manager
Quantitative Equity Strategies

"Hedge funds are not mainstream and this book is not mainstream either. The author challenges traditional investment paradigms and the way investors think about risk. An exciting read and a must for every professional investor."
–Dr. Burkhard Poschadel, Chief Executive Officer, GAM

"Written for the professional investor, Alexander Ineichen’s book provides a comprehensive, in-depth analysis of alternative investment strategies. Combining the latest research with his own insights, Ineichen has produced the definitive study of hedge funds and funds of hedge funds."
–Richard Elden, Chairman, Grosvenor Capital Management, L.P.

"Alexander Ineichen’s in-depth research findings and analytical insight are brought together in this book which is chock-full of useful statistics on hedge fund strategies. Definitions, examples, return/risk parameters, and key risk factors are provided for each strategy. This comprehensive book is a necessity for every hedge fund investor."
–Lois Peltz, President, Infovest21 ... Read more

Reviews (8)

Highly Recommended!
Hedge funds burst into the headlines in the early 1990s, when George Soros became a household name - at least in Europe, where many people blamed him and his hedge fund for wrecking the European exchange rate mechanism. Similarly, a U.S. hedge fund called Long Term Capital Management (LTCM) began with an aura of investing invincibility, only to fail dramatically. Hedge fund investing is sometimes, but not always, high risk and high return. Once limited to a privileged elite group of investors, hedge funds are now opening their rosters to less sophisticated, less wealthy speculators. But hedge funds are not just like any other funds, and anyone contemplating an investment needs a solid, comprehensive guide, such as this book. Author Alexander M. Ineichen, neither a salesman nor an alarmist, pulls no punches when discussing the risks of hedge funds. He is quite straightforward about the sometimes astonishing success of some hedge fund managers, but careful to point out the common misconceptions about them. Without hedging our bets, we find this book a valuable addition to every investor's library.

Dances Around the Topic
This book rambles on about the hedge fund industry. It gives a lot of definitions and statistics, but ultimately falls down. When you buy a hedge fund, you never really know what you are getting.

A Lesson from the Titanic
The iceberg on the cover represents total risk-partly visible and partly not. Ineichen's point is that hedge fund or absolute return managers tackle total risk while their traditional mutual fund counterparts worry about only one part of it, namely the risk of straying from their benchmark. His extensive discussion contains worthy lessons for all investors who want to understand risk. While not every chapter may be useful for every reader, this book is an excellent place to learn about alternative investment strategies.

Who is the Audience?
This book has many fine features but has two serious drawbacks as well.

On the positive side, I have never read a more complete polemic in favor of the hedge fund industry. He shreds EMF with loads of good evidence and humorous anecdotes. However, there seems to be a constant drive to reinforce this point. Unfortunately, it takes away from a more thorough analysis of the types of hedge fund investing.

Another problem with the book is that it has trouble discovering its audience. At times, we get detailed descriptions of what alpha and beta represent (Finance 101) and at other times, abstruse PM concepts are brushed over as common knowledge.

I would definitely recommend this book but I recommend that the reader is accompanied by a Dictionary of Finance and Investing.

Essential Hedge Fund Guide
This is an excellent introduction for potential investors to assess risk and reward.

For more on new hedge fund products, hedge fund leverage, and off-balance sheet risk, I also highly recommend Tavakoli's "Credit Derivatives" 2nd Edition. ... Read more

Book Description

In this book, two of America's leading economists provide the first integrated treatment of the conceptual, practical, and empirical foundations for credit risk pricing and risk measurement. Masterfully applying theory to practice, Darrell Duffie and Kenneth Singleton model credit risk for the purpose of measuring portfolio risk and pricing defaultable bonds, credit derivatives, and other securities exposed to credit risk. The methodological rigor, scope, and sophistication of their state-of-the-art account is unparalleled, and its singularly in-depth treatment of pricing and credit derivatives further illuminates a problem that has drawn much attention in an era when financial institutions the world over are revising their credit management strategies.

Duffie and Singleton offer critical assessments of alternative approaches to credit-risk modeling, while highlighting the strengths and weaknesses of current practice. Their approach blends in-depth discussions of the conceptual foundations of modeling with extensive analyses of the empirical properties of such credit-related time series as default probabilities, recoveries, ratings transitions, and yield spreads. Both the "structura" and "reduced-form" approaches to pricing defaultable securities are presented, and their comparative fits to historical data are assessed. The authors also provide a comprehensive treatment of the pricing of credit derivatives, including credit swaps, collateralized debt obligations, credit guarantees, lines of credit, and spread options. Not least, they describe certain enhancements to current pricing and management practices that, they argue, will better position financial institutions for future changes in the financial markets.

Credit Risk is an indispensable resource for risk managers, traders or regulators dealing with financial products with a significant credit risk component, as well as for academic researchers and students. ... Read more

Reviews (5)

Poor writers
The book covers all the relevant topics and provides a slightly different presentation of their own models. However, the book glosses over the mathematics and is written in a very stiff style. The authors have never been known as good writers but in this case they are not presenting anything new. Rather disappointing from two rather strong academics.

Unsatisfying compromise
It seems the authors attempted a compromise between theoretical and practical aspects - and failed at both. From a theoretical point of view, this book is missing the rigorous exposition these authors have been known for in their previous work. From a practical point of view, this book will be of no help to someone trying to implement any credit risk models. The numerous figures - probably added by the authors in a attempt to banish their reputation for texts that are extremely hard to read - do not help in this respect. Detailed descriptions or real examples that could be used for practical purposes are completely absent. There are better choices of credit risk books for both the theoretically and practically inclined.

Disappointing - Bits and pieces jotted together
This book is obviously a quick shot. It's bits and pieces taken from various articles: not one topic is covered right. If the authors had at least selected the most relevant results and formulas from the respective articles, but no, they chose to spray the text with the occasional formula, often irrelevant and seemingly arbitrarily selected, while formulas representing important results are completely missing. The authors might be famous - this book is not going to be.

Another summary of articles put together
Duffie and Singleton are the masters of the reduced-form credit risk modeling approach. Although well-written, their book does not add anything new. It's just another review of the state of the art in credit risk. One can get the original papers and learn much more without having to read a short summary on each work. You will not be able to learn how to model a credit risky instrument by reading this book.I would have liked to see fewer references and more worked-out examples with derivations and detailed numerical applications.

Gold Standard for Credit Risk Pricing and Management
Duffie and Singleton may be the best thinkers in the world on this subject. While one might try other approaches, this is the starting point, the reference, and the benchmark for understanding any approach to credit risk pricing, measurement, and management. Duffie and Singleton are the gold standard referred to in any other work on this subject.

This book is well supplemented with more on the various new products. The gold standard for those products is Tavakoli's book "Credit Derivatives".

... ... Read more

Book Description

TABLE OF CONTENTS

Chapter 1:The Basics of Risk Management This chapter introduces how banks work.It describes how they make money, how they often lose money, and how they try to manage their losses.It includes thirteen short case studies showing how banks have lost money.

Chapter 2: Risk Measurement at the Corporate Level: Economic Capital and RAROC Chapter Two discusses the meaning of capital and how the risks that a bank faces are related to the amount of capital that the bank should hold.It then describes the two fundamental building blocks of integrated risk measurement: Economic Capital and Risk Adjusted Return on Capital (RAROC).

Chapter 3: Review of Statistics Chapter Three is useful for those readers who do not have a recent working knowledge of statistics.It reviews the statistical relationships that are commonly used in risk measurement and provides reference material for the rest of the book.Examples are provided using financial loss data.

MARKET RISK SECTION

Chapter 4: Background on Traded Instruments This chapter gives an overview of the main types of traded instruments: bonds, equities and derivatives.It gives a qualitative description of the instrument, examples of calculating the instrument’s value and the basic risk metrics such as duration and the Greeks.This chapter is useful for those readers who are new to the finance industry.

Chapter 5: Market Risk Measurement This chapter describes the most common ways to measure market risks: Sensitivity analysis, Stress testing, Scenario testing, Sharpe Ratio and Value at Risk.It gives detailed examples of using each of the metrics.

Chapter 6: The Three Common Approaches for Calculating Value at Risk Value at Risk (VaR) has become the standard approach for measuring market risk.This chapter is devoted to explaining the details of the three common approaches to calculating VaR: Parametric VaR, Historical VaR and Monte Carlo VaR.We work though increasingly complex examples and compare the strengths of each approach.(Note: many readers will be particularly interested in this chapter because the name “VaR” is well known and has a certain mystery)

Chapter 7: Value at Risk Contribution The Value at Risk Contribution (VaRC) is a useful way of pinpointing the source of the portfolio’s risk.VaRC can break down the risk by instrument, trading desk or market risk factor.Examples are given for several types of VaRC.

Chapter 8: Testing VaR Results to Ensure Proper Risk Measurement This chapter discusses the procedures required by regulators to backtest VaR calculators to check that their predictions of losses are consistent with market events.

Chapter 9: Calculating Capital for Market Risk VaR is used as the basis for calculating both Regulatory Capital and Economic Capital for Market Risks.In this chapter VaR also extended to measure the risk of Asset Management operations.

Chapter 10: Overcoming VaR Limitations Although VaR is the best single metric for market risks, is has several limitations.The limitations and typical solutions are discussed in this chapter.

Chapter 11: The Management of Market RiskThis chapter concludes the market risk section by describing how the results of risk measurement are used by management to identify the sources of risk.It also describes the process of setting VaR Limits.(Note: readers should be particularly interested in VaR Limits because it is difficult and an important element in controlling a bank’s risk).

ASSET/LIABILITY MANGEMENT SECTION

Chapter 12: Introduction to Asset Liability Management Asset Liability Management (ALM) is primarily concerned with the interest rate and liquidity risks that are created when commercial banks take in short term deposits from customers and give out long term loans.This chapter describes how those risks arise and the risk characteristics of different types of deposits and loans.

Chapter 13: Measurement of Interest Rate Risk for ALM This chapter discussed the primary techniques used to measure interest rate risk: Gap reports, Rate shift scenarios and Simulations

Chapter 14: Funding Liquidity Risk in ALM The measurement of liquidity risk is broken into three groups: expected, unusual and crisis events.Measurement techniques are given for each group.

Chapter 15: Funds Transfer Pricing and the Management of ALM Risks A key use of asset/liability measurement is the calculation of the fair price at which funds should be lent from one department to another within a bank.This is one of the keys to integrated risk measurement and is a critical component in measuring risk-adjusted profitability and setting prices to customers.A typical balance sheet is used to illustrate how transfer pricing works in detail.

CREDIT RISK SECTION

Chapter 16: Introduction to Credit Risk This chapter discusses the sources of credit risk and how measurement is used to manage the risks

Chapter 17: Types of Credit Structure For readers who are unfamiliar with lending operations, we discuss the ways that credit exposures are structured in commercial and retail lending.It also describes the calculation of credit exposure for derivatives trading operations and gives an overview of credit derivatives.

Chapter 18: Risk Measurement for a Single Facility This chapter shows how the Expected Loss and Unexpected Loss for a loan can be calculated from the Probability of Default, Loss In the Event of Default, Exposure at Default and the Grade Migration Matrix.

Chapter 19: Estimating Parameter Values for Single Facilities One of the main difficulties in credit risk measurement is the estimation of values for Probability of Default, Loss Given Default and Exposure at Default.This chapter discusses estimation techniques such as Discriminant Analysis and the Merton Model.It also gives parameter values that can be used as the basis for the reader’s own models.The parameter values are used in examples to demonstrate how the credit risk calculations are used.

Chapter 20: Risk Measurement For A Credit Portfolio: Part One To estimate the overall risk for a portfolio many credit instruments, we must examine the correlation between losses.This chapter describes the Covariance Credit Portfolio Model and the different approaches available for estimating default correlations.It also describes how the correlations can be used to estimate the Unexpected Loss Contribution and the Economic Capital for a single facility within a portfolio.

Chapter 21: Risk Measurement For A Credit Portfolio: Part Two This chapter describes the four other widely used approaches for estimating the risk of credit portfolios: the actuarial model, the Merton-based simulation model, the macro economic default model and the macro economic cashflow model used for structured and project finance.It concludes with a section describing how the models can be combined in a unified framework to create an integrated simulation of all the bank’s risks

Chapter 22: Risk Adjusted Performance and Pricing for Loans Knowing the economic capital for a loan, this chapter shows how to calculate the minimum price that should be charged to a loan customer.The analysis shows how to include multi-year effects such as grade migration.Illustrative examples are included.(Note: this chapter should be of interest to readers because loan pricing is another difficult and important subject that is rarely discussed in other books)

Chapter 23: Regulatory Capital for Credit Risk The Basel Committee on Banking Supervision (often called the BIS) is planning fundamental changes to the way that banks must calculate the capital that they hold.The new calculations will be very similar to the calculations described in the rest of this book for economic capital.This chapter summarizes the history of the Capital Accords then compares the different approaches that the BIS will allow.It also gives a standard plan for implementing the new Accords.(Note: this should be of interest to readers because the shift to BIS measurement is of major importance, it will be difficult for most banks, and it must be completed by 2005)

OPERATING RISK SECTION

Chapter 24: Operating risk The quantification of Operating Risks is on the frontier of the industry’s understanding of risk measurement. The risk estimation approaches can be categorized as either qualitative, structural or actuarial.These approaches are described including Key Risk Indicators and the BIS approaches.

INTEGRATED RISK SECTION

Chapter 25: Inter-risk Diversification and Bank-Level RAROC This chapter describes how all the models are linked to calculate Economic Capital and Risk Adjusted Profitability for the Bank as a whole.It concludes with of the steps normally required to implement the bank-wide measurement of Economic Capital and RAROC.pital and RAROC.

Reviews (9)

Fantastic book
Moving from academia to the real world is made much smoother with this great text by Dr. Marrison. This book integrates interest rate, liquidity and credit risk with bank management perfectly. Anyone interested in gaining a strong economic background with a quantitative degree like myself will find this book extremely useful.

One of the Best Books for Risk Management
Marrison has written an outstanding book on risk management. What is attractive about the treatment is the fact that it covers all aspects of risk management for financial institutions. Lots of books focus only on "new" techniques (VaR, portfolio credit risk models) or only on "traditional" techniques (credit analysis, ALM). Marrison treats them all, and uses capital allocation as a unifying theme.

Two previous reviews that suggest Marrison is too basic or merely repeats other authors are, in my humble opinion, dishonest. Marrison is a sophisticated book for sophisticated readers who are new to risk management. This includes MBA students taking courses on the capital markets or risk management. It also includes professionals working in their first risk management position. Marrison did not invent VaR or ALM, but authors of other books did not invent these concepts either. An author's task is to describe established concepts in a manner that is accessible to and useful for his audience. In this respect, Marrison's book is a dramatic step forward. His choice of topics, organization and writing are superb.

One of those previous reviews recommended that you read books by certain other authors instead of Marrison. Of those books, the only one that Marrison competes with is Jorion's Value-at-Risk. Marrison is an order of magnitude better than that book. The other books cover unrelated topics or are more advanced treatises on specific topics. You might graduate to such books from Marrison, but they are not alternatives to Marrison.

Finally, you can't beat the price on this book. Marrison simultaneously offers a bargain AND one of the best books available on risk management.

A great primer
Chris Marrison's book is something I have been seeking for a very long time. It is well organized and easy to read. I have spent several years in strategic financial services consulting, wherein a strong foundation in risk measurement concepts and tools is essential for consultants across experience levels. Though having studied undergraduate finance and statistics, I ended up developing my rudimentary (and incomplete) knowledge of risk measurement in a very ad-hoc, context-specific and inefficent fashion. Now an MBA student at Harvard, I come across peers also seeking to understand the business, technical and practical aspects of risk measurement, as conceptually, 'risk management' is a common idea but an abstract practice for many professionals. There is no other textbook I've come across that addresses the essentials of risk measurement in as tangible a manner. I will not hesitate to recommend this book as a great primer to fellow students. The only caveat I offer is that this book is for those truly interested in jumping into the practical applications of risk measurement - for more of an overview of risk management theory, or esoterica for that matter, you're better off looking elsewhere.

Moderately interesting
While I would not go as far in criticising this book as one previous reviewer, I do question why the author wrote the book. It does provide a useful summary of the basics. But that is exactly the danger, it only describes the basics and does not indicate how you go beyond the basics. The problem is that risk management is too important and too complicated to be left to beginners. The danger is that someone could read this book and be left with the impression that they understood risk management. There is so much more that is not covered here and very little guidance on how to find it. I am sure that beginners will love this book, it makes it all seem so easy. The only problem is that it is not all so easy and many topics skimmed over in this book e.g. operational risk need much more attention than this book provides.

easy and fast comprenhesion on market risk essentials
From the very beggining, the author brigthly provides with the main concepts and tips that will drive the reader to the discovery of not only the exciting world of the market risk management but of any other financial industry areas(credit risk, products management...)
The author structures the book in such a way that any type of reader will understand the main concepts under the market risk management activity.
Highly recommended for students and begginers and an essential in your library ... Read more

Book Description

MAKE THE AMERICAN DREAM A REALITY

It's the American dream-making so much money at an early age that you could decide when to retire, knowing full well that you have enough stashed away to ensure a life of comfort. In this new book, the fifth in the Rich Dad series, financial guru Robert Kiyosaki provides practical insight on how to put together a financial plan which will not only make you prosperous, but will also allow you to map out the freedom to choose your own retirement age. ... Read more

Reviews (107)

A "MUST READ" if you want to be wealthy.
Robert doesn't give you any "get rich quick" schemes, this is a straight forward, easy to read book about changing your mind set in order to obtain wealth. You cannot become a wealthy person without thinking like a wealthy person first. This book is very similar to "Rich Dad, Poor Dad" because it makes you question your core beliefs about money and how to obtain it and how to stop having a "loser" or "chicken little" mentatlity. A lot of books out there give you the details of what to do but do not discuss the personal psychology behind wealth-buiding. I was introduced to Robert's books almost 3 years ago by my father at the beginning of my college career and have taken all the steps necessary to ensure the fact that when I graduate in may of 2003, I will not have to type up any resumes, go to any job fairs, or interview for a future career with XYZ corp. of America because I started a business, heavily invest in real estate with my business partners, and continue to learn about wealth buidling tactics. If I can do this before I graduate from college, anyone can, you just have to change your mindset from a person who works for money to a person who lets money work for them.

Very relieving
What a relief it is to realize that I will never have to depend on social (in) security, a company pension, a 401 (k) (just glorified savings accounts or that whopping .50% return in a bank savings account or 1%-2% on cd's to retire on.

I feel sad when I see people who were planning on a great retirement and believing in some or all of the above, having to go back to work when reality set in.

Kiyosaki offers a better way. His Rich Dad taught him a better way and now Kiyosaki so kindly and humbly offers the advice to the rest of us.

Yes you can get rich quicker today
I have to agree with the review that precedes mine indicating that it is not possible to get rich easier than ever before. The speed at which people like Michael Dell and Steve Chase have become billionaires is incredible. But keep in mind that these two gentlemen made their fortunes over a decade ago...it's even easier today.

What I like about book like Retire Young Retire Rich is that it blows past self induced limitations about wealth or even the ability to retire. If you follow conventional methods, you'll be lucky to retire at all.

Retire Young Retire Rich is must reading for anyone who wants to create wealth early and quick enough to enjoy it. Some parts are similiar to his other books and other parts are completely new.

Interesting how many unhelpful votes that CPA who wrote a very nice review here is getting (presumably from 1 star reviewers) Isn't it funny how some people have nothing better to do with their but attack successful people like Robert Kiyosaki who so kindly and humbly want to help the rest of us, discredit the guy and when someone of note comes along, they blitz that person with so many unhelpful votes? If you ask me, I think their actions are driving more people towards Kiyosaki, not away. Book sales are increasing not decreasing. And more and more people are becoming more successful than ever before.

This is an excellent book for anyone who wants to get rich quicker in todays world.

Can you get rich quickly?
This installment in the Rich Dad series Retire Young Retire Rich is also subtitled How To Get Rich Quickly and Stay Rich Forever.

Kiyosaki tells us that it took Rockefeller 16 years to become a billionaire in his time. And it took Bill Gates 10 years to reach the billion dollar status. However it took Mike Dell and Steve Case only 5 years to become billionaires. It's easier than ever.

In Retire Young Retire Rich, Kiyosaki pounds to death the concept of leverage. One chapter I found interesting was the leverage of generosity. Kiyosaki discusses how his Rich Dad taught him reciprocity and service. He states an age old law "Give and you shall recieve." Kiyosaki says thath is rich dad taught him that if you want to be rich, you must first be willing to serve as many people as possible.

Aaccording to Kiyosaki, Rich Dad believed inthe law of reciprocity and in the idea of b