Pay Yourself First: A Commonsense Guide to
Life Cycle Retirement Investing
NON FICTION BOOK REVIEW
Title: Pay Yourself First: A Commonsense Guide to Life Cycle
Retirement Investing; by Timothy W. Cunningham and
Clay B. Mansfield; John Wiley & Sons Inc.; ISBN 0-471-16248-5;
paperback; 271 pages; US$16.95, Can$23.95.
Reviewer: Glenn Darling, "This is one book that isn't out to
sell something; rather it can help the reader buy into a
secure financial future."
As people age, so do their retirement investing requirements.
These changes are the result of different needs evidenced
during stages in the normal human life cycle.
A Key element in saving for tomorrow, is sacrificing today.
Not an easy task for the young and the restless.
The major premise of Pay Yourself First would have us believe
that simply being who you are and using what you know is
enough to win the day. With this understanding you are ready
to begin delving into Pay Yourself First.
This book attempts to prove that in the world of investing, if it
cannot be explained easily then it is probably not worthy of
continued pursuit and should be dropped like a bad habit.
Pay Yourself First: A Commonsense Guide to Life Cycle
Retirement Investing introduces us to a highly understandable
but revolutionary new approach.
Using stories and easy to understand basic business concepts,
authors, Cunningham and Mansfield provide the proper tools to
take command of ones financial resources and attain a secure
retirement nest egg.
Ample case is made for creating a realistic get rich slow plan
that does not require hands on attention from the latest financial guru.
More often than not it isn't another tool or opinion that is needed
to make a good decision. Instead one needs only the courage
to weigh the evidence at hand, ask questions, listen to the debate,
and decide what makes sense by using the simple deliberative
tools that each and every one of us already has inside.
According to the authors, to understand what a fully defined and
structured approach to retirement saving looks like or where to
begin, one must first understand the underlying principal of
retirement investing itself.
At heart, every investment objective depends on when you need
to use the invested money or the income from it and the consequences
for not having the required money or income when it is needed.
The authors stress that no matter what age you begin, the major
theme is; invest as much, and as often as possible. Make it part
of your financial life, regardless of income. And of course never,
never raid the retirement investment pool.
The desired result is to try to build and protect retirement wealth
when younger, and preserve that wealth while simultaneously
generating retirement income when retired.
Pay Yourself First guides the way nicely and does indeed make
a strong case for do-it-yourself investing. This is one book that
isn't out to sell something; rather it can help the reader buy into
a secure financial future
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