Between the ongoing recession, the collapse of the housing market, and the crumbling of the middle class, many Americans are left wondering what happened to the American Dream. They're also wondering what happened to their money. For millions of people, just making ends meet is challenging enough. So when it comes to saving and investing, it seems like the deck is stacked against you.
The bad news is that you're right. If the economy were a card game, the dealer would hold all the aces. But the good news is that you don't have to play by the house rules. Renowned for his unvarnished insight on finance and investing, money manager Mark Grimaldi has a reputation for telling it like it is. He doesn't sugarcoat the negative and he doesn't have time for the financial industry hype that leads to bad investing decisions. Here's the truth: the economy is in bad shape, but that doesn't mean you can't save responsibly, invest profitably, and retire comfortably.
In The Money Compass, Grimaldi teams up with accounting professor G. Stevenson Smith to offer a wealth of smart investing advice for today's investor. This plain-English guide to good investing presents practical strategies and actionable advice for safely navigating today's financial markets. It shows you how to manage credit and debt responsibly, how to use the tax code to your advantage, which kinds of trendy investing advice you should ignore, and where to put your money for solid returns.
In addition, the authors explore the hard macroeconomic realities that explain how we got here and where we're going next. They look at the primary causes and consequences of the recession, the housing crash, the slow collapse of government programs, long-term unemployment, and how it all impacts you and your money. Plus, Grimaldi and Stevenson forecast the next big economic shock and show you how to profit from it.
The economic game is rigged to keep you poor and keep Wall Street rich. So it's time to write your own rules. Whether you're white collar, blue collar, or somewhere in between, The Money Compass gives you the commonsense guidance you need to chart a course to a comfortable financial future—even in the roughest economic waters.
Table of Contents
- Chapter 1: Introduction
- Chapter 2: Greenspan and the Growing Bubble
- Chapter 3: Drop the “U” Out of “Housing” and You Get What America Got
- Chapter 4: Credit Cards
- Chapter 5: Who Are Target-Date Retirement Funds Targeting?
- Chapter 6: Four-Oh-One-Kay Tales
Chapter 7: Exchange-Traded Funds
- Is Mr. Bogle “Indexing” the Problem?
- What Is an Index Fund?
- Why Invest in an Index Fund?
- Giving Up Downside Protection
- Giving Up the Ability to Lock In Profits
- Why Not Buy and Hold?
- So What’s Wrong with ETFs?
- How Much Should You Pay for an ETF Trade?
- The Benefits of Professionally Managed ETFs
- Ranking ETFs the Grimaldi Way
- Chapter 8: Who Took My Money Now?
- Chapter 9: Staying Poor in America
- Chapter 10: The Federal Debt Bomb
- Chapter 11: Navigating the 2014 Recession
- Appendix: The Grimaldi Forecasts
- Chapter 12: Changing Job Patterns and You
- Chapter 13: Gratuity Government
- About the Authors
- Title: The Money Compass: Where Your Money Went and How to Get It Back
- Release date: January 2014
- Publisher(s): Wiley
- ISBN: 9781118614617