Pound Foolish PDF
By:Helaine Olen
Published on 2012-12-27 by Penguin
If you’ve ever bought a personal finance book, watched a TV show about stock picking, listened to a radio show about getting out of debt, or attended a seminar to help you plan for your retirement, you’ve probably heard some version of these quotes: “What’s keeping you from being rich? In most cases, it is simply a lack of belief.” —SUZE ORMAN, The Courage to Be Rich “Are you latte-ing away your financial future?” —DAVID BACH, Smart Women Finish Rich “I know you’re capable of picking winning stocks and holding on to them.” —JIM CRAMER, Mad Money They’re common refrains among personal finance gurus. There’s just one problem: those and many simi\u00adlar statements are false. For the past few decades, Americans have spent billions of dollars on personal finance products. As salaries have stagnated and companies have cut back on benefits, we’ve taken matters into our own hands, embracing the can-do attitude that if we’re smart enough, we can overcome even daunting financial obstacles. But that’s not true. In this meticulously reported and shocking book, journalist and former financial columnist Helaine Olen goes behind the curtain of the personal finance industry to expose the myths, contradictions, and outright lies it has perpetuated. She shows how an industry that started as a response to the Great Depression morphed into a behemoth that thrives by selling us products and services that offer little if any help. Olen calls out some of the biggest names in the business, revealing how even the most respected gurus have engaged in dubious, even deceitful, prac\u00adtices—from accepting payments from banks and corporations in exchange for promoting certain prod\u00aducts to blaming the victims of economic catastrophe for their own financial misfortune. Pound Foolish also disproves many myths about spending and saving, including: Small pleasures can bankrupt you: Gurus popular\u00adized the idea that cutting out lattes and other small expenditures could make us millionaires. But reduc\u00ading our caffeine consumption will not offset our biggest expenses: housing, education, health care, and retirement. Disciplined investing will make you rich: Gurus also love to show how steady investing can turn modest savings into a huge nest egg at retirement. But these calculations assume a healthy market and a lifetime without any setbacks—two conditions that have no connection to the real world. Women need extra help managing money: Product pushers often target women, whose alleged financial ignorance supposedly leaves them especially at risk. In reality, women and men are both terrible at han\u00addling finances. Financial literacy classes will prevent future eco\u00adnomic crises: Experts like to claim mandatory sessions on personal finance in school will cure many of our money ills. Not only is there little evidence this is true, the entire movement is largely funded and promoted by the financial services sector. Weaving together original reporting, interviews with experts, and studies from disciplines ranging from behavioral economics to retirement planning, Pound Foolish is a compassionate and compelling book that will change the way we think and talk about our money.
This Book was ranked at 38 by Google Books for keyword Financial Services Industry.
Book ID of Pound Foolish's Books is cpRDQJQWPQwC, Book which was written byHelaine Olenhave ETAG "Hki02o6JG/4"
Book which was published by Penguin since 2012-12-27 have ISBNs, ISBN 13 Code is 9781101575307 and ISBN 10 Code is 1101575301
Reading Mode in Text Status is true and Reading Mode in Image Status is false
Book which have "304 Pages" is Printed at BOOK under CategoryBusiness and Economics
Book was written in en
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