Risk Less and Prosper: Your Guide to Safer Investing


Somewhere along the way, something has gone very wrong with the wayindividuals invest and save. All too often, ordinary people aredrawn in by promotional suggestions masquerading as impartialinvestment advice and end up saddled with more risk than theyrealize.

There truly is an urgent need for real advice to combat theconfusion and false impressions fostered by much of today'sconventional investment "wisdom." What's needed is a betterinvestment...

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Risk Less and Prosper: Your Guide to Safer Investing

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Somewhere along the way, something has gone very wrong with the wayindividuals invest and save. All too often, ordinary people aredrawn in by promotional suggestions masquerading as impartialinvestment advice and end up saddled with more risk than theyrealize.

There truly is an urgent need for real advice to combat theconfusion and false impressions fostered by much of today'sconventional investment "wisdom." What's needed is a betterinvestment path, one that leads investors to their financial goalswithout risking calamity.

Coauthors Zvi Bodie and Rachelle Taqqu understand the dilemmathat investors face, and now, with Risk Less and Prosper,they share their experience in this field with you and reveal howthe robustness of goal-based investing, as a new approach topersonal finance, can put you in a better position when it comes tofunding your retirement, paying for a child's higher education, orachieving other important long-term goals.

Engaging and informative, this timely guide follows a smallgroup of men and women who are meeting together, along with afinancial advisor, in order to improve their personal investments.Each member of this group is based on a composite of real people,and while all are dealing with different financial circumstances,they are brought together by their shared state of confusion aboutwhat to do.

Risk Less and Prosper skillfully explains why personalinvesting is all about you—your goals, your values, yourcareer path, and your preferences. It shows how to understandinvestment risk and choose the particular blend of risk and safetythat is right for you. And it lays out several simple yet powerfulways for individual investors to cast a reliable safety net toachieve their financial goals and truly prosper. As you follow thegroup's progress, this book will:

  • Help you develop a clear picture of your financial destination,attach a price tag to your vision together with a timetable, andalign them with expected funding sources
  • Show how to determine your risk set point and decide how muchrisk makes sense for you
  • Take you through the ins and outs of two different kinds ofeasy-to-understand, real-return instruments: U.S. TreasuryInflation-Protected Securities (TIPS) and inflation-protected U.S.Government Savings Bonds (I Bonds)
  • Talk about some techniques for matching your investments withthe spending outcomes you desire or need
  • Introduce you to a range of riskier investments—focusingon stocks in particular—after you have invested in enoughsafe assets to cover your basic needs
  • Offer essential pointers on how to find an impartial,trustworthy financial advisor

Contrary to popular belief, investing doesn't have to becomplicated. You can build a safety-first, goal-based investmentportfolio without taking great risks. Risk Less and Prosperwill show you how to do this and much more, as you make investmentdecisions that will make your financial life less stressful andmore profitable.

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Editorial Reviews

From the Publisher
"Bodie and Taqqu have staked out important ground in terms ofreconsidering the basic paradigm for long-term saving and investingand presenting a new approach in an engaging and thoughtfulmanner." (Portfolio.com, February 2012)

"...a good read for those of you who are skeptical of investingin today's stock market. But it is a must-read for those of you whoactually think that you know what you are doing." (HuffingtonPost, January 2012)

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Product Details

  • ISBN-13: 9781118014301
  • Publisher: Wiley
  • Publication date: 12/27/2011
  • Edition number: 1
  • Pages: 196
  • Sales rank: 525,051
  • Product dimensions: 5.80 (w) x 8.60 (h) x 0.90 (d)

Meet the Author

Zvi Bodie is the Norman and Adele Barron Professor ofManagement at Boston University. He holds a PhD from theMassachusetts Institute of Technology and has served on the financefaculty at the Harvard Business School and MIT's Sloan School ofManagement. In recent years, Bodie has been a prominent advocatefor the financial protection of small investors and has writtenwidely on this subject. Professor Bodie has worked closely withnumerous professional institutions, including the CFA Institute,the Federal Reserve Bank of Boston, the Retirement Income IndustryAssociation, and the Society of Actuaries.

Rachelle Taqqu is a financial consultant with many yearsof experience in the financial services industry. In recent years,she has worked closely with several nonprofit institutions on theirendowments.

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Table of Contents

Foreword ix

Preface xv

Acknowledgments xxv

PART I All About You 1

Chapter 1 Changing the Game 3

Chapter 2 Picturing Your Destination 17

Chapter 3 Paying Up 31

PART II Risk Matters 47

Chapter 4 The Mismeasure of Risk 49

Chapter 5 The Allure of Hope 65

Chapter 6 Your Personal Risk Profile 85

PART III Building Blocks 99

Chapter 7 Finding the Safe Investment Zone 101

Chapter 8 The Art of Matchmaking 125

Chapter 9 Investing Safely for Education 139

Chapter 10 Choosing Risky Investments 147

Chapter 11 How to Choose an Advisor 167

Epilogue 175

Notes 181

About the Authors 189

Index 191

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