Оглавление
Gold Jacob. Money Mindset
Foreword
Preface
Who This Book Is For
Acknowledgments
Chapter 1. Money Is Energy
There Is No Silver Bullet
Building Your “Financial Foundation”
What’s Ahead?
Chapter 2. The Psychology of Money
The Science of Fear and Greed
What’s Ahead?
Chapter 3. New Retirement Paradigm
The Coming Crisis in Retirement Planning
Why Is Retirement So Different Today?
The System Is Running Out of Energy
What’s Ahead?
Chapter 4. The “Why” of Financial Management
What’s Your “Why”?
Not Planning Is the Same as Planning to Fail: Where to Start
Be Prepared for the Thunderstorms
What’s Ahead?
Chapter 5. The Power of Compound Interest and the Erosive Effect of Inflation
The Power of Compound Interest
Make Time Work for You
The Cost of Procrastination
The Story of Larry and Earl
The Erosive Effects of Inflation
Looking at Inflation Today
The Shrinking Dollar
Memory Lane
What’s Ahead?
Chapter 6. Building Your Wealth
The Financial Engine of Your Wealth Creation
Asset Allocation
Importance of Asset Allocation
What Does Salsa Have to Do with. Asset Allocation?
Rebalancing Your Portfolio
Measuring Volatility
Be Smart about Recovery Times
Dollar Cost Averaging
Systematic Withdrawals
Where Does Real Estate Fit In?
What’s Ahead?
Chapter 7. Taxes and Insurance
Taxes
How to Calculate Your Effective Tax Rate
Insurance
Health Insurance
Long-Term Care Insurance
Life Insurance
Types of Life Insurance
Disability Insurance
Automobile Insurance
Renters or Homeowner’s Insurance
Deductibles
Overinsured or Underinsured?
A Defensive Strategy
What’s Ahead?
Chapter 8. Estate Planning
Simple Estate Planning Documents
Beyond the Basics: A Living Trust
Chapter 9. Do You Need a Financial Planner?
Do You Need Help?
Your Financial Education
Appendix. Economic Energy
The History and Future of Energy in the United States
Energy Forecast for North America
Glossary
About the Author
Index
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The everyday investor was not prepared for the Great Recession that shook the world in 2008. And too many have found themselves repeatedly wrong-footed by the markets in the eventful years that have followed; the excessive risk-taking that characterized the precrisis zeitgeist gave way to the hunker-down mentality of the postcrisis period, leaving behind a wide swath of investors whose extreme risk aversion prevented them from participating in the fourth-longest bull market in history.
And while the relentless advance of markets off their 2009 troughs has made it look easy for those with the fortitude to remain fully invested, in truth the world – and the investment environment – has grown more complex, not less. The crisis-entrenched Euro Zone, a doubling down on unconventional monetary policy by global central banks, and ever-evolving geopolitical risks are but a few of the factors giving investors inclined toward skittishness ample justification for their fears.
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Jacob’s insights and experience make this an important book not only for the general public but for financial professionals as well. As a third-generation wealth manager, planning and investing is, as Jacob says, “somehow embedded in my DNA.” A close read of Money Mindset will serve anyone without this expertise imprinted in their genetic code.
I don’t want to perpetuate misconceptions about investing or financial planning, that is, the delusion that a successful plan can be created overnight through market timing and hot stock tips. Instead, I want to help you to take a step back, looking toward the long term and recognizing what you need, want, and wish for from money. After such a reflection, designing a financial plan that accurately portrays what you want from life, and abiding by that plan long term, can be far easier to accomplish. Throughout the process, you will also learn ways to diversify your portfolio to help protect it from exposure to the forces of the markets.
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