Yes, You Can Get a Financial Life!: Your Lifetime Guide to Financial Planning

by Ben Stein and Phil DeMuth

Book Overview

Life is not lived all at once--it's lived in moments, days, months, years, and decades. This means that the financial plans and actions we all have to take to meet our responsibilities sensibly must... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 1401911242
• ISBN13: 9781401911249
• Release Date: February 2007
• Publisher: New Beginnings Press
• Length: 206 Pages
• Weight: 1.15 lbs.
• Dimensions: 0.9" x 6.3" x 9.3"

Customer Reviews

Totally awesome; read this book before it's too late

The authors might argue that it's never really "too late," but the earlier in life you really comprehend what they are saying in this book, the better off you'll be for the rest of your life. This book, when properly used, forces you to not only acknowledge but to think about and ponder major expenses throughout your lifetime, and how best to prepare for them. Thinking of getting married and having children without any savings plan and dumping all of your paycheck into the best car/apartment/computer/whatever you can? You should probably think again. And this book will guide your thinking in logical directions.

Excellent primer for life planning

This book serves as a good overview of how all individuals should save for the major events of life - having children, buying a home and eventually retirement. The breakdown by decade and the charts indicating how much you should have saved by a particular age to meet your retirement goal make it easy to see if you are on track or not. The authors write in a sort of parental tone, not overly strict parents, but as parents trying to give you advice that will help you the rest of your life. The authors focus mainly on retirement savings, but there is helpful advice on everything - mothers leaving the workforce to have children, life insurance, not overextending yourself to project a lifestyle you can't afford, and how to pay for your children's college (which they suggest the child do, they are acquiring an asset that will benefit them for the rest of their life and should be willing to pay for it). I'd certainly recommend this book to anyone who feels they need a little guidance on financial planning.

Great reference for progress through the years!

This book lays out a simple approach to starting and keeping up with financial planning for retirement. The best part about this book is that anyone, and I mean anyone can follow these steps easily. The book shows you where you should be, and how to get there for every 5 years of your life, starting at 25. This isn't a make money fast type book, the opposite if anything. There is simple investment advice than anyone can follow, it even lists index mutual funds from Fidelity and Vanguard to help you out. It also shows simple allocations for your retirement for every decade of your life, including post-retirement.

Good solid info

I buy a lot of financial books and use the info to fit MY life and lifestyle. Ben Stein is a favorite of mine because of his no nonsense style and the fact that he doesn't mollycoddle his readers. Yes, he says, life can be hard, expect to suffer some financial blows, don't be devastated by financial (or other) setbacks and...get on with it. Learn from your mistakes and keep upping your learning curve. This book certainly will help you gain some solid info. This is the type of book that SHOULD be read by younger readers as well as those who are old enough to realize that they've made some financial mistakes or aren't saving as much as they thought and need to make changes. Unfortunately, the younger readers aren't getting the basics in school (Financial Literacy ought to be a required course - don't get me started on that) and are subject to the usual mistakes of youth (consumerism and buying expendable items) but this book can certainly help all readers, if they have the sense to buy it - and at whatever stage of life they're at - 20s, 30s, midlife, etc. One final tip - If you use a credit card to buy this book or any books , pay off the debt as soon as possible, before you forget about it. Don't end up paying high interest rates in order to try to gain financial "freedom". I've noticed a lot of people seem to get in financial trouble and then spend a lot of money trying to "learn" how to get out of it. Avoiding credit cards with high interest rates as well as avoiding spending yourself into a huge hole of debt certainly helps. Just a thought. But DO buy this book. It'll pay for itself.

A wonderful guide to what you can do during each decade of your life to help yourself financially

Judging by the quality and helpfulness of the books they write together, Ben Stein and Phil DeMuth are a great team. If you are interested in money, and everyone is, you will certainly benefit from their books. They have shown how, given enough time and discipline one can "time" the market (not by day trading), how to become a successful income investor, how you can get from wherever you are to a comfortable retirement, and now they provide us with a book for young people beginning their work lives. The financial life they describe begins with understanding what the workplace is about and how salaries should be viewed. They begin by helping the reader view their income and expenditures (consumption) as a lifetime cycle. When we are young, we consume more than we make, but we are consuming our parents' resources. At the mature end of our lives, we also want to consume more than we make because we want to retire. To make that happen, something has to happen during our working years other than buying everything we think we want or suppose we need. The authors point out that we cannot wish life would return to the way our parents knew it or as we dream it should becomes. ". . . we have to plan for life as it is today, not as it was yesterday." Once we can see the future as an economic life cycle, the authors give us some insights on how to maximize lifetime wealth. It is about getting an education in a marketable field that will keep you in demand rather than indulging yourself in an expensive college education (both in dollars and in years) that will not lead to gainful employment. Graduate school might even make some sense, if you use your education wisely. It has to do with being a good employee, of making and keeping great connections in life, of keeping your reputation and character in order so people will admire, trust, and recommend you to their friends and employers. Stein and DeMuth then take us through life in decades. They take us through what work life will likely entail in one's twenties, thirties, forties, fifties, sixties and provide a series of chapters on each decade. Then they provide a chapter on what one's investment considerations are likely to be during that specific decade including the positives and the pitfalls. They also provide chapters for each decade on life as a married (with kids) or as a single (never married or divorced). As they point out often, and they should, the key to having a real financial life where one can sleep at night and feel good about one has done for his or her family, is to get control of your finances early in life and to be disciplined about saving, spending, and work. Savings put aside early has the power of compounding and can weather the changes in the economy more easily than the same amount of money put aside later in life. Learning to consume (spend) not only within one's income, but within a realistic life economic plan will bring great rewards. Not only will you ha