Master your Minecraft
 
 

Special Offers see all

Enter to WIN a $100 Credit

Subscribe to PowellsBooks.news
for a chance to win.
Privacy Policy

Tour our stores


    Recently Viewed clear list


    Best Books of the Year | December 10, 2014

    Mary Jo Schimelpfenig: IMG Best Fantasy/Sci-Fi of 2014



    Here are the books that knocked my socks off in 2014. All of them would make great gifts; each of them was truly something that evoked that... Continue »

    spacer
Qualifying orders ship free.
$14.00
List price: $27.95
Used Hardcover
Ships in 1 to 3 days
Add to Wishlist
available for shipping or prepaid pickup only
Available for In-store Pickup
in 7 to 12 days
Qty Store Section
21 Partner Warehouse General- General

This title in other editions

Pound Foolish: Exposing the Dark Side of the Personal Finance Industry

by

Pound Foolish: Exposing the Dark Side of the Personal Finance Industry Cover

ISBN13: 9781591844891
ISBN10: 1591844894
Condition: Student Owned
All Product Details

 

Synopses & Reviews

Please note that used books may not include additional media (study guides, CDs, DVDs, solutions manuals, etc.) as described in the publisher comments.

Publisher Comments:

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 simi­lar 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, prac­tices—from accepting payments from banks and corporations in exchange for promoting certain prod­ucts 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 popular­ized the idea that cutting out lattes and other small expenditures could make us millionaires. But reduc­ing 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 han­dling finances.
  • Financial literacy classes will prevent future eco­nomic 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.

Review:

"The worth of the personal finance industry is inversely proportional to its ubiquity, according to Forbes.com blogger Olen in his breezy romp through recent financial history. According to Olen, given today's increasing income inequality and shaky employment prospects, a secure livelihood or retirement is a chimera. Olen's fast-paced narrative focuses on the rise of media celebrities and financial pundits who assure us: 'You can do it!' What we can do is sign up for overhyped and overpriced investment seminars and services, promoted largely by the powerful motivator of fear. Such luminaries as Suze Orman, Jim Cramer, Robert Kiyosaki, and Peter Schiff may be household names, but their (often self-serving) advice did not prevent American retirement vehicles from losing trillion in 2007 — 2008. The proposition that media icons are also self-promoters will astonish no one, and Olen's frequent iteration of this point diminishes the value of her observations. Though her intention is to provide an exposé, not financial advice, her own observations are commonplace. One can enjoy her glimpses of the world of financial celebrity while remaining skeptical about the scope of her proposed remedy. Agent: Andrew Stuart, the Stuart Agency." Publishers Weekly Copyright PWxyz, LLC. All rights reserved.

Synopsis:

Bobby Monks is alarmed because far too many investors have fallen asleep. Sure, we occasionally wake up to glance at our statements and notice that our investments are growing or withering. But thats usually all we do—until our sleep is disturbed by nagging doubts. How did we end up with these funds? Why is it so hard to know where our money actually goes, who is managing it, and in whose interests? What if its being invested in companies we deplore, complicit in environmental ruin, financial apocalypse, and political dysfunction?

Monks is determined to help investors get out of their unhappy dream state. His experiences in the financial sector—both as executive and customer, investor and creditor—give him a unique perspective on how we got to this point and how to fix it. He also draws on original research and interview with key figures such as Vanguard founder Jack Bogle, legendary investor Carl Icahn, and former Congressman Barney Frank, co-author of the Dodd-Frank Act. Monkss conclusion:

“When we outsource our investing, whether we use a money manager or a mutual fund, we sacrifice control—but not responsibility. My goal in writing this book is to convince you that the best (and only) way to fix this broken system is to awaken a critical mass of engaged investors and recruit them to participate more fully in the investing process. I want to empower investors by enhancing their understanding of what really happens.”

This book is for anyone who cares about their own financial future, as well as the broader problems facing our economy and society.

Synopsis:

The acclaimed New York Times columnist and author of The Behavior Gap helps readers reframe their decisions about money

Financial decisions arenand#8217;t really about money. They're decisions about how we spend our lives. When most financial professionals talk about planning, however, they focus on numbers and technical details. Enter The One-Page Financial Plan.

Too often, the complexity of the planning process paralyzes people before they even begin. Carl Richards sweeps away that complexity and reframes these discussions to focus on the things that actually matter to real people. Rather than identifying arbitrary and impersonal goals (such as trying to beat the market or knowing exactly how much money youand#8217;ll earn years from now), he empowers readers to identify the goals that align with their values. Through a series of steps, he shows readers how simple these decisions can beand#151;once readers are clear about what matters most.

Based on Richardsand#8217;s twenty-plus years of working with clients, The One-Page Financial Plan refocuses readers away from useless financial plans and on the incredibly helpful process of true financial planning. Using his popular sketches that break down big concepts into easy-to-remember visuals, the book is a provocative, even fun, exercise that moves people toward the lives they want.

About the Author

Helaine Olen is a freelance journalist whose work has appeared in The New York Times, The Wall Street Journal, The Washington Post, Salon, Slate, and the Los Angeles Times.

What Our Readers Are Saying

Add a comment for a chance to win!
Average customer rating based on 1 comment:

Writers Voice host Francesca Rheannon, March 21, 2013 (view all comments by Writers Voice host Francesca Rheannon)
When the market tanked in 2009, millions of Americans saw their retirement funds go up in smoke. It wasn’t supposed to happen -- for years, we were told to expect double digit returns on our investments forever. Wall Street used to be the playground exclusively of the rich, but as wages stagnated and the old style pension went the way of the Dodo, more and more Americans turned to the personal finance industry for solutions to financial insecurity. It hasn’t turned out so well.

In Pound Foolish, journalist Helaine Olen exposes the hype and hokum the personal finance industry has perpetuated. She shows that while most Americans believe their financial fate is in their own hands, the deck has been stacked against them. In this terrific book, Olen covers the history of personal finance and its seamy present in an engaging style that pulls the reader in. A must-read. You can hear my interview with Olen about the book at http://wp.me/pE740-1v4
Was this comment helpful? | Yes | No

Product Details

ISBN:
9781591844891
Subtitle:
A Simple Way to Be Smart About Your Money
Author:
Olen, Helaine
Author:
Richards, Carl
Author:
Monks, Bobby
Publisher:
Portfolio Hardcover
Subject:
Personal Finance - General
Subject:
Business - Personal Finance
Subject:
Investments & Securities
Edition Description:
Hardback
Publication Date:
20150331
Binding:
Hardback
Grade Level:
from 12
Language:
English
Illustrations:
50 diagrams thru/out
Pages:
224
Dimensions:
9 x 6 in 1 lb
Age Level:
from 18

Other books you might like

  1. Doglands New Trade Paper $9.99
  2. Jamie's Food Revolution: Rediscover...
    Used Hardcover $15.95
  3. Worlds of Pain: Life in the... Used Trade Paper $12.00
  4. Green river rising 1st Edition Used Hardcover $15.95
  5. Multiple Intelligences: The Theory... Used Trade Paper $5.50
  6. Intimate Strangers Used Trade Paper $3.50

Related Subjects

Business » Featured Titles
Business » General
Business » Investing » Stocks
Business » Personal Finance
Metaphysics » General

Pound Foolish: Exposing the Dark Side of the Personal Finance Industry Used Hardcover
0 stars - 0 reviews
$14.00 In Stock
Product details 224 pages Portfolio - English 9781591844891 Reviews:
"Publishers Weekly Review" by , "The worth of the personal finance industry is inversely proportional to its ubiquity, according to Forbes.com blogger Olen in his breezy romp through recent financial history. According to Olen, given today's increasing income inequality and shaky employment prospects, a secure livelihood or retirement is a chimera. Olen's fast-paced narrative focuses on the rise of media celebrities and financial pundits who assure us: 'You can do it!' What we can do is sign up for overhyped and overpriced investment seminars and services, promoted largely by the powerful motivator of fear. Such luminaries as Suze Orman, Jim Cramer, Robert Kiyosaki, and Peter Schiff may be household names, but their (often self-serving) advice did not prevent American retirement vehicles from losing trillion in 2007 — 2008. The proposition that media icons are also self-promoters will astonish no one, and Olen's frequent iteration of this point diminishes the value of her observations. Though her intention is to provide an exposé, not financial advice, her own observations are commonplace. One can enjoy her glimpses of the world of financial celebrity while remaining skeptical about the scope of her proposed remedy. Agent: Andrew Stuart, the Stuart Agency." Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
"Synopsis" by ,
Bobby Monks is alarmed because far too many investors have fallen asleep. Sure, we occasionally wake up to glance at our statements and notice that our investments are growing or withering. But thats usually all we do—until our sleep is disturbed by nagging doubts. How did we end up with these funds? Why is it so hard to know where our money actually goes, who is managing it, and in whose interests? What if its being invested in companies we deplore, complicit in environmental ruin, financial apocalypse, and political dysfunction?

Monks is determined to help investors get out of their unhappy dream state. His experiences in the financial sector—both as executive and customer, investor and creditor—give him a unique perspective on how we got to this point and how to fix it. He also draws on original research and interview with key figures such as Vanguard founder Jack Bogle, legendary investor Carl Icahn, and former Congressman Barney Frank, co-author of the Dodd-Frank Act. Monkss conclusion:

“When we outsource our investing, whether we use a money manager or a mutual fund, we sacrifice control—but not responsibility. My goal in writing this book is to convince you that the best (and only) way to fix this broken system is to awaken a critical mass of engaged investors and recruit them to participate more fully in the investing process. I want to empower investors by enhancing their understanding of what really happens.”

This book is for anyone who cares about their own financial future, as well as the broader problems facing our economy and society.

"Synopsis" by ,
The acclaimed New York Times columnist and author of The Behavior Gap helps readers reframe their decisions about money

Financial decisions arenand#8217;t really about money. They're decisions about how we spend our lives. When most financial professionals talk about planning, however, they focus on numbers and technical details. Enter The One-Page Financial Plan.

Too often, the complexity of the planning process paralyzes people before they even begin. Carl Richards sweeps away that complexity and reframes these discussions to focus on the things that actually matter to real people. Rather than identifying arbitrary and impersonal goals (such as trying to beat the market or knowing exactly how much money youand#8217;ll earn years from now), he empowers readers to identify the goals that align with their values. Through a series of steps, he shows readers how simple these decisions can beand#151;once readers are clear about what matters most.

Based on Richardsand#8217;s twenty-plus years of working with clients, The One-Page Financial Plan refocuses readers away from useless financial plans and on the incredibly helpful process of true financial planning. Using his popular sketches that break down big concepts into easy-to-remember visuals, the book is a provocative, even fun, exercise that moves people toward the lives they want.

spacer
spacer
  • back to top

FOLLOW US ON...

     
Powell's City of Books is an independent bookstore in Portland, Oregon, that fills a whole city block with more than a million new, used, and out of print books. Shop those shelves — plus literally millions more books, DVDs, and gifts — here at Powells.com.