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The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)
book

The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)

by Ken Fisher, Lara W. Hoffmans
November 2009
Beginner to intermediate content levelBeginner to intermediate
256 pages
10h 55m
English
Wiley
Content preview from The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)
188
1The
Ten
Roads
to
Riches
and
questionnaires-from
which
they
can justify expensive services.
There
are only
three
prime investing goals :
1.
Growth . You
need
your
mone
y to
grow
as
much
as possible
to cover living expenses later,
or
stretch
now
to cover
current
cash flow needs.
Or
maybe you just
want
to leave a
bundle to kids, grandkids, or albino snow leopards
or
what
-
ever
you're
into
.
2. Income. You
need
cash flow
now
or
soon
to cover living
expenses, and
you
don't
really care
about
growth
so long as
you
get
your
cash flow.
3. Growth and income.
Some
combination
of
the
first two .
One
of
these goals fits 99.993
percent
of
you. I
didn't
include
capitalpreservation.
It
sounds nice!
But
it means
you
take no risk and
get
no
growth
-not
helpful on this road. A
true
capital preserva-
tion
strategy means losing
mone
y at inflation's pace. Capital preser-
vation and growth
is a finance
industry
fairytale.
Not
possible.
Ever
!
For
growth, you take risk, and capital preservation is total
absence
of
risk.
Someone
selling you this strategy is
conning
you,
whether
he
knows it
or
not
.
If
you're
on this road,
the
more
equities
you
can
stomach,
the
better.
THE
RIGHT
STRATEGY
So, you know you
need
stocks, preferably global, like
the
MSCI
World.
Now
what? Invest like
your
benchmark
,
most
of
the
time.
Sounds simple, right?
But
I can't tell you
how
often
I hear, "Yes,
I
need
an equity benchmark,
but
stocks scare me right now. I'll be
safer
for
a while
with
bonds and cash ."
Peo
ple see
being
safe as hav-
ing
big allocations to cash
or
bonds. Bonds reduce ...
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Publisher Resources

ISBN: 9780470481554Purchase book