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Your Money Ratios: 8 Simple Tools for Financial Security at Every Stage of Life
     

Your Money Ratios: 8 Simple Tools for Financial Security at Every Stage of Life

4.5 2
by Charles Farrell
 

A troubled economy calls for answers. Forget fancy 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 corporate

Overview

A troubled economy calls for answers. Forget fancy 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 corporate executives have for their businesses. Using what The Wall Street Journal has called "some of the best tools we have seen for gauging where you stand," Your Money Ratios will help readers understand how to develop a realistic and effective savings plan, manage their debt, invest prudently, and obtain the insurance necessary to protect their income and assets, all with the goal of helping readers make progress toward a secure retirement.

Readers need only plug their income and age into Charles Farrell's ratios in order to get an instant picture of their savings status and overall financial health, as well as a road map for the important choices they must make in the future. Some of the ratios included are:

How much capital (savings) you should have at your age if you plan to retire at sixty-five

The maximum mortgage debt you can carry while saving sufficient capital to retire comfortably

The amount of education-related debt you can safely incur, based on anticipated average earnings after obtaining your degree

Charles Farrell is a principal with Northstar Investment Advisors in Denver. He writes the "Retirement Roadmap" column for CBS Moneywatch.com, contributes a monthly retirement column to Investment News, and is the developer of the Farrell-Northstar retirement Income Index. His research is frequently cited in The Wall Street Journal, SmartMoney, the Chicago Tribune, and numerous other industry publications.

Editorial Reviews

From the Publisher
"Your Money Ratios is a no-nonsense, comprehensive resource for those ready to grab the reins of personal finance once and for all."
-Bookpage

"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?"
-Reuters

"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."
-Wall Street Journal

"What I like about the use of ratios is that it imposes discipline on emotional spending decisions. When you do the math based on specific goals, real household income and exact time frames related to age, it becomes crystal clear that you really can't afford to blow out the back of your home or expand the kitchen, no matter how attractive or tax-deductible the financing may be."
-Laura Rowley, Yahoo Finance

"Everyone wants to know, 'Am I on the right track?' Thanks to Charlie Farrell and his delightfully simple Money Ratios, the answers are just a few pages away."
-Jonathan Clements, author of The Little Book of Main Street Money

Product Details

ISBN-13:
9781583334164
Publisher:
Penguin Publishing Group
Publication date:
12/28/2010
Pages:
272
Sales rank:
894,147
Product dimensions:
5.40(w) x 8.20(h) x 0.80(d)
Age Range:
18 Years

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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Your Money Ratios: 8 Simple Tools for Financial Security at Every Stage of Life 4.5 out of 5 based on 0 ratings. 2 reviews.
Anonymous More than 1 year ago
This book is awesome. It is very simple and straight-forward. In a matter of minutes you'll know if your finances are where they need to be. It answers the question: how am I doing?
Anonymous More than 1 year ago
This is a great introductory book on financial many topics: from stocks to longterm care insurance. It's a simple road map to retirement, financial independence, and financial security. The debt-to-income ratios only include mortgages and student debt but I expected more on other debts (i.e. car loans, credit cards). However, the author offers a good justification for the omission.