Your Money Milestones: A Guide to Making the 9 Most Important Financial Decisions of Your Life Review
I have read many books on Money management....some good and some bad. This book falls into the very good side. It is an interesting take on money milestones instead of money phrases. Mr. Milevsky approaches money as a whole concept......i.e. your money worth not just actual, concrete assets.
This could be read by any age person. A young person could use it as a blueprint. Middle age could use it to tweek areas to stay on the right path. Older persons could validate and make adjustments, if needed.
I am the middle age part. I found it very useful to validate my money management techniques. Overall, I agree with Mr. Milevsky and his comments.
If you want a solid, well-written, money management book with today's issues used to make points........this is the book for you.
Enjoy.
Your Money Milestones: A Guide to Making the 9 Most Important Financial Decisions of Your Life Overview
A whole new way to look at your money-and make it grow!
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What are you really worth?
Do you have too much debt-or too little?
Will your house ever pay dividends?
Are kids assets? Can marriages diversify?
Does more risk truly mean higher return?
When can you actually retire?
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Nine financial decisions will make or break your future. Make them wisely, with Your Money Milestones. Dr. Moshe A. Milevsky offers you a whole new way to think about money: one that will help you make better choices about college, homebuying, retirement, insurance, debt, even kids!
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Milevsky-s simple, elementary-school formulas walk you through planning and making every big financial decision over your lifecycle.
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That-s not all: Milevsky shares insights that are fascinating, surprising, provocative-and thoroughly based on the latest research in finance and human psychology. In other words: if you want to be wealthier, more secure, and happier, too, read this book.
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Test Dr. Milevsky-s money decision-making techniques,
hands-on, at www.qwema.ca!
Available at Amazon Check Price Now!
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Customer Reviews
Personal Finance from a Different Perspective - Bryan Carey - Houston, TX
Your Money Milestones is a good book about some of the many important financial decisions that individuals make at different stages in their life. It offers different approaches to personal finance that emphasize human capital, smoothing of earnings, improved net worth, etc.
Personal finance books are one of my more common reads and no matter what knowledge level I feel I have achieved, I still like to read more books on this subject, both to discover different perspectives and hone my skills. This particular book is a little different from the rest. It doesn't dispense practical advice as much as other personal finance books and in many ways, it is more a behavioral guide than anything. For this reason, it will likely turn off some readers. Many will open the book and immediately look for direct advice, but this is not that type of finance book. It is intended more as an overview of ways to approach the subject of personal finance from a new perspective.
Looking at the nine different money milestones presented in this book, I find that I agree with most of them, but I have reservations with others. One is the emphasis on future human capital. The book recommends creating a personal balance sheet to calculate net worth with the inclusion of what the book claims is your largest asset- your human capital. This futuristic number, which represents the discounted value of your future potential for earnings, will greatly increase current net worth, but I question the author's wisdom on this matter. To list this as an asset would imply that I can sell it, but future paychecks and future work cannot be sold. Another reason I don't like this concept is because it greatly inflates one's personal balance sheet. This could give individuals a false sense of security and lead them to make poor decisions regarding investment and debt management, due to their inflated level of net worth.
What I like best about this book are its chapters on topics such as education, kids, and marriage because they offer some fresh and interesting perspectives on these subjects. The education chapter is good because it offers some factual information on the value of an education and the tremendous impact it can make on one's financial potential. The chapter on kids and marriage is interesting because it offers some financial food for thought about the institution of marriage and child- rearing that many people have likely never considered. What this book says on these important matters could impact many long- held beliefs, and that is what makes them so interesting to read.
Personal finance is an important topic that affects everyone. Your Money Milestones isn't the greatest book on this subject, but it is still a good book with some good things to offer. I can see the author's point about such concepts as human capital, renting vs. owning, etc., but I don't necessarily agree with all of it and I know I am not alone in my thinking. Still, this is a good book and while it may not offer much in the way of personal advice, it is still good for the different angle it takes on the subject.
Insightful advice - Helen S. Lam -
I have read many personal finance types of books before. This is very insightful and discusses uncommon thinking such as "human capital", diversifying risk based on your "human capital", smoothing consumption, etc. Even someone who is well-versed in personal finance will find this book insightful. I just wished that the author gave more details but he did give his website url.
Not quite what I was expecting - Reverie - Memphis, TN
This is more of an overview to make you aware of things to consider, but it lacks practical advice. There is a psychological element which describes people's basic behaviors in certain situations. For example, the receipt of a large sum of money initially goes toward some debt, but people's spending habits ultimately don't change. This was exemplified by looking at lottery winners and military personnel. This might be good for college students to make them more aware of their spending habits, but it's not so good if you're 30 years old looking for advice on how to prepare for retirement.
*** Product Information and Prices Stored: Aug 23, 2010 09:00:53
