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Ebook The Money Book for the Young, Fabulous & Broke by Suze Orman read! Book Title: The Money Book for the Young, Fabulous & Broke
The author of the book: Suze Orman
Language: English
ISBN: 1573222976
ISBN 13: 9781573222976
Format files: PDF, Epub, DOCx, TXT
The size of the: 3.51 MB
Edition: Riverhead Hardcover
Date of issue: March 3rd 2005
Reader ratings: 8.5
Loaded: 359 times

Read full description of the books The Money Book for the Young, Fabulous & Broke:



I don't know anything about Suze Orman, other than seeing her name mentioned occasionally in financial magazines and articles. I found out that this was one of her most popular books, so I thought I'd give it a try.

This book is meant as a financial handbook for twenty- and thirty-somethings, who Orman calls the "Young, Fabulous, and Broke". I probably would have gotten more out of the book, and rated it higher, if I was broke and wasn't already somewhat familiar with the topics she covers. Each of the 10 chapters focuses on some financial topic. These are:

1. FICO score
2. career
3. credit
4. student debt
5. saving
6. retirement
7. investing
8. car
9. home
10. money and relationships

Each chapter opens with a few pages of explanation and advice, followed by specific questions and answers. The advice is good, but nothing groundbreaking. I much prefer I Will Teach You To Be Rich.

Notes
Contribute to a 401k only if you get a company match. If you don't get a match, do a Roth IRA instead.
Set up an emergency fund that covers 6 months of expenses.

Mutual fund fee structures
1. A-share: you pay sales commission when you buy
2. B-share: you pay sales commission when you sell, if held for less than a certain amount of time (usually 5 years). High expense ratio.
3. No-load: No fee to buy or sell, no matter when you sell

Buy only no-load mutual funds, based on these criteria:
1. expenses
2. performance over 3-10 years, within its fund category

Funds to use for 401k or Roth IRA:
1st choice
85% total market index fund
15% foreign stock fund
2nd choice
60% S&P 500 fund
15% mid-cap
10% small-cap
15% foreign
3rd choice
30% large growth
30% large value
15% mid-cap
15% foreign
10% small-cap

If you wouldn't buy a stock that you hold today, then sell it.
Don't invest money that you need in less than 5 years in stocks. Use CDs or money markets instead.
Review your 401k and Roth IRA funds twice a year to ensure that they're performing above average for their fund categories.
Don't buy bonds until you're 40 or 45.
Use index funds, not ETFs, for dollar-cost averaging.

Car insurance
Deductibles: $1000
Bodily injury: $100,000/person, $300,000/accident
Property damage: $50,000

It's better to pay off a 30-year mortgage early than starting with a 15-year mortgage, because events in your life may prevent you from making the higher payments of a 15-year.
"People first. Then money. Then things."
Use a Living Revocable Trust and Durable Power of Attorney documents instead of a will.

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Ebook The Money Book for the Young, Fabulous & Broke read Online! Suze Orman (born Susan Lynn Orman) is an American financial advisor, writer, and television personality.


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