Rescue Your Money: How to Invest Your Money During these Tumultuous Times - Softcover

Edelman, Ric

Softcover

ISBN 10: 1501152769 ISBN 13: 9781501152764

Publisher: Simon & Schuster, 2016

Synopsis

In this updated edition of Rescue Your Money, investment guru and New York Times bestselling author of The Truth About Money Ric Edelman offers no-nonsense, practical advice for how to keep your investments safe in any economic climate.

Everyone has heard the old advice: buy low, sell high. But in a world of nonstop headlines, market swings, and conflicting opinions, knowing when to buy—or sell—can feel impossible. The truth is, there are no guaranteed winners. Chasing trends, following media hype, or relying on hot-shot advisors can leave your financial future dangerously exposed.

That’s why Edelman focuses on what really matters. In this indispensable guide, he reveals:

-The single most important goal every investor should pursue
-The two biggest obstacles standing in the way of financial success
-The crucial question every investor must answer
-The two fundamental truths that challenge—and shape—every investment decision

Whether you’re overwhelmed by market uncertainty or frustrated by costly financial advice, this book offers the clarity, confidence, and proven guidance you need to take control of your future. Smart, reassuring, and empowering, Rescue Your Money the investment companion every reader needs in uncertain times.

About this title

About the Author

Ric Edelman is a top financial educator, the award-winning host of his national personal finance radio show, and  a #1 New York Times bestselling author of several books on personal finance. Ric and his wife Jean live in Virginia. They are benefactors of the Edelman Center for Nursing at Inova Hospital Foundation, the Edelman Indoor Arena at Northern Virginia Therapeutic Riding Program, and Rowan University’s Edelman Planetarium and Edelman Fossil Park.

Excerpt. © Reprinted by permission. All rights reserved.

Rescue Your Money CHAPTER

ONE One Major Goal You Should Have
When people seek investments, they tend to have one goal in mind: They want to beat the market.

Don’t agree? Then tell me why you compare the performance of your investments with the S&P 500 Stock Index. You’re gauging your success by comparing your investment results with the overall market, as measured by the S&P 500, the Dow Jones Industrial Average, or some other stock-market index. If you’re beating the market, you’re happy. If you’re not, you’re unhappy.

Guess what? Trying to beat the market is the wrong goal.

In fact, that’s a disastrous goal. Taking that approach sets you up for failure.

Why? It’s really very simple. And we need look no further back than 2008 to understand why. In 2008 the S&P 500 lost 38.5%.I 1 If you lost only 30%, congratulations! You beat the market!

Somehow I doubt you (or your spouse) would be thrilled at such news.

Thus we must remember that “beating the market” isn’t the point. In fact, only one thing matters when it comes to investing: achieving financial security. That is your one major goal.

Think about it. The purpose of investing is to help you achieve your goals, whether that means sending your kids to college, retiring comfortably, or caring for aging parents. It’s financial security that matters, not some benchmark that has no relevance to your personal life.

People who focus on the stock market are missing the point. You need to emphasize your goals.

I. The sources for all statistics can be found on page 175.

Edition details

• Publisher: Simon & Schuster
• Publication date: 2016
• Language: English
• ISBN 10: 1501152769
• ISBN 13: 9781501152764
• Binding: Paperback
• Number of pages: 208