Your Money Ratios: 8 Simple Tools for Financial Security

Overview

A troubled economy calls for answers. Forget complicated, abstract philosophy—people need sound financial advice that's easy to follow and can be implemented immediately. For the first time, a leading financial adviser has developed a remarkable set of guidelines to give individuals the same kind of objective insight into their personal finances that successful businesses have. Your Money Ratios will help readers effectively manage debt, invest prudently, and develop a realistic and effective savings plan to ...

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Overview

A troubled economy calls for answers. Forget complicated, abstract philosophy—people need sound financial advice that's easy to follow and can be implemented immediately. For the first time, a leading financial adviser has developed a remarkable set of guidelines to give individuals the same kind of objective insight into their personal finances that successful businesses have. Your Money Ratios will help readers effectively manage debt, invest prudently, and develop a realistic and effective savings plan to ensure both financial success and security. Readers need only plug their income and age into Farrell's ratios in order to get an instant picture of their savings status and overall financial health, as well as a roadmap for the important choices they must make in the future. Here’s what you will find in this book:

IF YOU ARE IN YOUR 20s OR 30s: Your Money Ratios will tell you how to get started and what you need to do over the next 35 years to stay on track. If you are lucky enough to read this book when you are young, you will have a clear vision for where you need to go throughout your working career. By setting yourself on the right path, you won’t have to work so hard later in life to meet your goals.

IF YOU ARE IN YOUR 40s: You can benchmark your own financial circumstances against the ratios and see how you are doing with respect to your savings, debt, investments and insurance. You have plenty of time to make adjustments if necessary and plot out your path to retirement.

IF YOU ARE IN YOUR 50s: The formula will provide you with a realistic assessment of your ability to retire. It will help you make the important decisions about how to allocate your financial resources over the next 10 to 15 years, and how to put on the final push for retirement.

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Editorial Reviews

Publishers Weekly
Investment adviser Farrell simplifies retirement savings. To make the process of preparing for the golden years less complicated—and less anxiety provoking—Farrell developed a series of simple formulas to help readers understand what they need to be saving based on age and household income, while taking as much of the irrational emotion out of the equation as possible. Swift calculations help readers understand how much they should be saving each year, how much to contribute to 401(k)s and IRAs, when to invest in real estate, how much education debt to carry, how to balance debt, how to calculate investment power and how to find a financial adviser for those situations that require a little extra help. Farrell keeps his readers on track—each decision boils down to what he calls the “Unifying Question:” “Will [x] help move me from being a laborer to being a capitalist?” By focusing on making readers' money work for them, and with the use of simple, clear numbers, Farrell does a wonderful job of taking the worry and stress out of number anxiety—no calculator necessary. (Jan.)
Bookpage
Your Money Ratios is a no-nonsense, comprehensive resource for those ready to grab the reins of personal finance once and for all.
Reuters
Your Money Ratios by Charles Farrell (Avery, $26). Why not manage your family finances as you would a business? Farrell is a money manager who makes a convincing argument for that approach. He uses rations more common in the business world, such as the debt-to-equity ratio and the capital to income ratio so that readers can figure out how they are really doing. The book is direct and numbers-focused, and offers answers to questions like "How much should I be saving?" and "How much insurance do I need?
Wall Street Journal
Charles Farrell, an investment adviser in Denver, has long written about financial planning. In particular, he has developed, in recent years, some of the smartest tools we've seen for gauging the health of your nest egg. Now, he has combined these calculators with additional guidelines in a new book, Your Money Ratios: Eight Simple Tools for Financial Security. Mr. Farrell uses easy-to-understand ratios to help individuals manage savings, debt, investments and insurance, all with the goal of achieving a secure retirement. In short, one of the best financial books to cross our desks this year.
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Product Details

  • ISBN-13: 9781583333631
  • Publisher: Penguin Group (USA) Incorporated
  • Publication date: 12/24/2009
  • Pages: 257
  • Product dimensions: 5.90 (w) x 8.30 (h) x 1.00 (d)

Meet the Author

Charles Farrell, J.D., LL.M., is an investment adviser with Northstar Investment Advisors, which has more than $300 million assets under management. His column, “Retirement Roadmap,” appears on the CBS Moneywatch site, and his research is frequently cited in The Wall Street Journal, Smart Money, the Chicago Tribune, and many other consumer and professional media outlets. He lives in Denver, Colorado.

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Table of Contents

Introduction: A Simple, New Perspective 1

1 The Capital to Income Ratio 15

2 The Savings Ratio 28

3 Social Security 48

4 Where to Save Your Money 59

5 The Debt Ratios 75

6 The Investment Ratio 112

7 Stocks and Bonds 138

8 Ignoring Wad Street 159

9 The Disability Insurance Ratio 167

10 The Life insurance Ratio 178

11 The Long-Term Care Insurance Ratio 188

12 Health Insurance 207

13 Getting Professional Help 221

14 Pulling It All Together 235

Appendix | special Situations 239

Acknowledgments 247

Index 249

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