H. Dennis Beaver: The wrong way of achieving wealth | Columnists | #insurance | #seniors | #elderly
“Mr. Beaver, I am finally starting to earn real money in my medical practice but don’t know the first thing about investing. I need concrete advice on handling money, building wealth, but don’t want to become a slave to money.
“I have met with financial advisers, but lack a grasp of the terms they use and, frankly, am afraid of looking stupid, so I don’t ask them to explain. Do you know of a book that is meant for people like me, who need a basic education in personal finance, but that has a ‘human’ touch as well? Thanks, Karl.”
I just finished reading the answer to what Karl is searching for. It’s “Your Total Wealth – The Heart and Soul of Financial Literacy” by former university business professors Lyle Sussman, PhD and David Dubofsky, PhD, CFA.
For anyone starting out in life, “Your Total Wealth” is the ideal read. It is the most unique and accessible financial advice resource I’ve ever seen and goes well beyond how to make money.
The authors give us a window into what “total wealth” means, how to achieve it, and demonstrate that it is much more than mere numbers. Total wealth is greater than the “stuff” we own or the balance in an investment account.
I wish that I had this book years ago, or as I tell my friends, “When I had hair.”
Applies Financial Definitions to the Real World – An Emotional Annuity
“Your Total Wealth” has a feature that I’ve never seen before.
Pages on the left provide definitions, such as, Margin, Short Selling, Dollar Cost Averaging, Leverage – terms that most people do not understand, with examples.
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