Don't do financial planning
with a financial planner.   
 

It has been four years since the tragedy of 9/11, and more than five years since the dot-com crash and yet our economy still appears to be lagging. High gasoline prices, the imminent threat of a Social Security meltdown, corporate down-sizing followed by bankruptcy, and dramatic fluctuations in the stock market tend to have a dramatic impact on the American psyche and pocketbook. With consumer debt at an all-time high and worker's wages stagnant, investing in the future seems more like a pipe dream than a reality. With thousands of articles and hundred of books relating to investments available to American consumers today, information overload is inevitable and in many cases, bad information overload is the norm.

Dr. Errold F. Moody, America's financial guru, offers solid advice to individuals wishing to tackle the fundamentals of personal finance in his latest book No Nonsense Finance (McGraw Hill, ISBN: 0-07-141330-8, $16.95). Unlike no other book in its genre, No Nonsense Finance forgoes the business jargon for straight talk, unpleasant at times, effectively illuminating the complex concepts surrounding one's financial future.

Don't buy stocks from a stockbroker. Don't buy insurance from an insurance agent. Don't do financial planning with a financial planner. While these statements are atypical for a conventional business book, Moody opens the book with these bold statements. Throughout the book, he justifies his assertions in a comprehensive and objective collection of real-life financial information. Moody holds nothing back, debunking the hype surrounding investing, insurance, annuities, and real estate. He offers no quick-schemes to financial freedom nor does he guarantee that readers will become automatic millionaires. He does, however, provide sound insight to crucial issues that will directly affect readers' financial situations at some point in their lives.

No Nonsense Finance is broken down by chapters with each chapter relating to a specific area of personal finance. Moody explores the basics of investing, delving into more complicated ideas including alpha, beta, and standard deviation. His format is fairly simple using formulas, charts, and mathematics to complement more difficult principles. As Moody explains, tackling these fundamentals gives readers an edge over many professional brokers who never learn the basics as part of any training program.

Moody shares the importance of tax basis, which he claims is one of the most oft-overlooked yet critical issues of tax planning. He thoroughly explains the differences between fixed and variable annuities and encourages extensive homework before dumping money into either. Moody asserts that mutual fund and insurance companies are worthless when it comes to planning a proper retirement. He advocates creating an actual budget, only then can one be certain of the outcome. Moody examines the validity and worth of insurance and long-term care policies, the how-tos of basic estate planning, and compares and contrasts real estate investments to the stock market.

With plenty of positive insightful information, No Nonsense Finance also offers advice to those who have been financially wronged. Moody shares:
· How the industry looks at you like a money pit
· Why the protections set up by the government and industry organization do not protect you
· Why learning the fundamentals can provide security for your future or at least make you aware of risks

When things go wrong, what you can do to get your money back
Moody has more than 30 years of experience as a financial consultant and personal financial planner. He is the founder of the popular and acclaimed Website:http://www.efmoody.com, ranked among the best by USA Today, BusinessWeek, Forbes, AOL, and many others. He also publishes a monthly newsletter, MoodyÕs Review, which covers all the topics related to the financial arena and has been published and quoted in a variety of major media, including the San Francisco Chronicle, Smart Money, The Wall Street Journal, and Mutual Funds Magazine.  An expert in the field, MoodyÕs No Nonsense Finance is an excellent book for the novice or seasoned veteran wanting a more secure financial future.  

BSM

Stacey Lawson is a senior publicist at Phenix & Phenix Literary Publicists in Austin, Texas.
 

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