The Only Guide You'll Ever Need for the Right Financial Plan
Managing Your Wealth, Risk, and Investments
Published on 12. July 2010
240 pages
978-0-470-92971-1 (ISBN)
Description
An accessible guide that outlines the key elements of aneffective financial plan
From Larry Swedroe, the author of the bestselling series of "TheOnly Guide" investment books, with Kevin Grogan and Tiya Lim comesa step-by-step handbook that shows you how to develop a winningpersonal investment strategy and reveals what it takes to make thatstrategy part of your overall financial plan. The Only GuideYou'll Ever Need for the Right Financial Plan focuses on the"art" of investing and gives you the information you need to createa strategy that is tailor-made for your particular situation.
Designed for savvy investors and professional advisors, thisbook offers the vital information needed for developing andimplementing an overall strategic financial plan. In this essentialresource, Swedroe outlines the basics in asset allocation and otherinvestment planning concepts.
* Addresses how you can design an investment policy statement andan individual asset allocation plan
* Examines how to maintain your portfolio's risk profile in themost cost-effective and tax-efficient manner
* Offers insights on integrating risk management and estateplanning issues into your plan
The Only Guide You'll Ever Need for the Right FinancialPlan offers a handy tool to help you make more informed andprudent decisions that will go a long way to ensure a securefinancial future.
Reviews / Votes
"Larry Swedroes work comes as close to being the definitiveinvestment book of our time as any that I can imagine. His greatestgift is his ability to communicate with profound simplicity,bringing clarity to the daunting challenge facing investors who areintent on reaching their financial goals." --Bill Schultheis, author of The CoffeehouseInvestor "If you're looking to sharpen your financial thinking, let LarrySwedroe be your guide. With insights from The Only Guide You'llEver Need for the Right Financial Plan, you should be able toraise your financial game--and maybe boost your family'swealth." --Jonathan Clements, author of The Little Book ofMain Street Money "Just as every successful builder needs a blueprint, so too doesevery successful investor need a personally tailored investmentpolicy. How much stocks, how much bonds? Foreign versus domestic?When and how to begin Social Security or withdrawing from your IRA?Larry Swedroe plots your financial life from cradle to grave (andeven beyond). Don't invest without it!" --William Bernstein, author of The Four Pillars ofInvesting "This is a most excellent book! Either as a great educationalread or an indispensible reference, The Only Guide You'll EverNeed for the Right Financial Plan will pay you back many timesover the cover price." --Harold Evensky, President, Evensky & Katz "If you have investing experience, and want to improve yourportfolio, this is the book to read." --Taylor Larimore, coauthor of The Bogleheads'Guide to InvestingMore details
Other editions
Additional editions
Larry E. Swedroe | Kevin Grogan | Tiya Lim
The Only Guide You'll Ever Need for the Right Financial Plan
Managing Your Wealth, Risk, and Investments
Book
08/2010
1st Edition
Bloomberg Press
€26.50
Shipment within 3-4 weeks
Persons
LARRY E. SWEDROE is Principal and Director of Research forThe Buckingham Family of Financial Services, which includesBuckingham Asset Management and BAM Advisor Services. BuckinghamAsset Management manages more than $2 billion in assets forindividuals, businesses, trusts, not-for-profits, and retirementplans. BAM Advisor Services provides turnkey asset managementservices for more than 120 registered investment advisor firms andmanages or administers more than $9 billion in assets. Swedroe hasheld executive level positions at Prudential Home Mortgage,Citicorp, and CBS. He frequently speaks at financial conferencesthroughout the year and writes the blog "WiseInvesting" for CBS MoneyWatch.com.
KEVIN GROGAN is an Investment Advisor Associate for TheBuckingham Family of Financial Services.
TIYA LIM is an Investment Strategy Manager for TheBuckingham Family of Financial Services.
Content
Preface.
Acknowledgments.
PART I: INVESTMENT POLICY IN AN UNCERTAIN WORLD.
Chapter 1 The Uncertainty of Investing.
Efficient Frontier Models.
Chapter 2 The Investment Policy Statement.
The Foundation of the Investment Plan.
PART II: ASSET ALLOCATION.
Chapter 3 Asset Allocation.
The Ability, Willingness, and Need to Take Risk.
When Conflicts Arise.
Risk Factors.
Chapter 4 Equities.
Equities versus Fixed Income.
U.S. Equity versus International Equity.
Emerging Markets.
Value versus Growth.
Real Estate.
Your Home.
Collateralized Commodity Futures (CCF).
Socially Responsible Investing (SRI).
Chapter 5 Fixed Income.
Credit Quality.
Short-Term versus Long-Term Maturities.
Municipal Bonds.
Inflation-Protected Securities.
Short-Term Fixed Income versus TIPS.
Chapter 6 Alternative Investments.
Convertible Bonds: Not Recommended.
Covered Calls: Not Recommended.
Fixed-Income Currency Exposure: Generally Not Recommended.
EE Bonds: Recommended.
Emerging Market Bonds: Not Recommended.
Equity-Indexed Annuities (EIAs): Not Recommended.
Gold: Not Recommended.
Hedge Funds: Not Recommended.
High-Yield (Junk) Bonds: Not Recommended.
Leveraged Buyouts (LBOs): Not Recommended.
Leveraged Funds: Not Recommended.
Master Limited Partnerships (MLPs): Not Recommended.
Mortgage-Backed Securities (MBS): Not Recommended.
Precious Metals Equities (PME): Not Recommended.
Preferred Stocks: Not Recommended.
Private Equity (Venture Capital): Not Recommended.
Stable-Value Funds: Generally Not Recommended.
Structured Investment Products: Not Recommended.
Variable Annuities: Not Recommended.
Chapter 7 Liabilities and Asset Allocation.
Mortgages.
Prepay the Mortgage or Increase Tax-Advantaged Savings?
Other Liabilities.
PART III: IMPLEMETNING THE PLAN.
Chapter 8 Individual Securities or Mutual Funds.
Convenience.
Diversification.
Size Matters.
Advantages of Individual Securities.
Separate Account Managers.
A Word of Caution.
Summary.
Chapter 9 Active versus Passive Management.
The Evidence.
The Search for the Holy Grail: Why Is Persistent Outperformance so Hard to Find?
The Value of Economic Forecasts.
The Value of Security Analysis.
Buy, Sell, or Hold?
The Tyrannical Nature of an Efficient Market.
The Prudent Investor Rule.
The Benefits of Passive Investing.
Summary.
Chapter 10 The Asset Location Decision.
Exceptions.
Order of Preference.
Additional Considerations.
Advanced Concept.
Balanced and Lifestyle Funds.
Chapter 11 The Care and Maintenance of a Portfolio.
Rebalancing.
Tax Management Strategies.
Final Considerations.
PART IV: THE INVESTMENT PLAN AND FINANCIAL SECURITY.
Chapter 12 College Savings Plans.
529 Plans.
Coverdell Education Savings Accounts.
Custodial Accounts.
U.S Savings Bonds.
Financial Aid Impact.
Chapter 13 Insurance.
Risk Management.
Payout Annuities.
Long-Term Care Insurance (LTCI).
Life Settlements.
Chapter 14 IRAs and Retirement/Profit Sharing Plans.
Roth versus Traditional IRA.
Five key Facts.
What to Do When Retirement Plan Choices Are Poor.
IRA Conversions.
Chapter 15 Social Security.
Is Social Security a Balance Sheet Asset?
Double Dipping Strategy.
Chapter 16 Determining a Safe Withdrawal Rate.
Monte Carlo (MC) Simulations.
In Absence of an MC Simulator.
The Sequence of Withdrawals to Fund Retirement.
Chapter 17 Planning Beyond Your Lifetime.
Estate Planning.
Preparing Your Heirs.
Conclusion.
Appendix A Effective Diversification in a Three-Factor World.
Appendix B Dollar Cost Averaging.
Appendix C Reverse Mortgages.
Appendix D How to Choose an Adviser You Can Trust.
Notes.
Glossary.
Index.
