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Recommended Reading

The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous and Smart About Money, by Ron Lieber
As a personal finance columnist for The New York Times since 2008 (and for The Wall Street Journal before that), Ron Lieber has combined his money-management know-how with his personal passion for helping young families thrive. With topics ranging from establishing a sensible tooth fairy allowance to discussing generational wealth, Lieber’s book delivers to parents as promised in its title: “The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous and Smart About Money.”

The Investment Answer: Learn to Management Your Money and Protect Your Finance Future, by Daniel C. Goldie, CFA, CFP and Gordon S. Murray
The authors ask readers to make five straightforward decisions about investing, and provide simple yet effective guidance to help investors make sound financial choices. The Investment Answer is written in clear and concise terms and seeks to demystify the investment process for all investors, regardless of their level of experience. 

The Number: A Completely Different Way to Think About the Rest of Your Life, by Lee Eisenberg
Do you know your Number? What happens if you don't make it to your Number? Do you have a plan? The often-avoided, anxiety-riddled discussion about financial planning for a secure and fulfilling future has been given a new starting point in The Number by Lee Eisenberg. The buzz of professionals and financial industry insiders everywhere, the "Number" represents the amount of money and resources people will need to enjoy the active life they desire, especially post-career. Backed by imaginative reporting and insights, Eisenberg urges people to assume control and responsibility for their standard of living, and take greater aim on their long-term aspirations.

The Only Guide to a Winning Investment Strategy You'll Ever Need: The Way Smart Money Invests Today, by Larry E. Swedroe

The Only Guide to a Winning Investment Strategy You'll Ever Need provides you with a road map to growth and investment opportunities that will help you become a successful investor who consistently makes money rather than loses it.

In this groundbreaking guide, investment professional Larry E. Swedroe describes the crucial difference between "active" and "passive" mutual funds, and tells you how you can win the investment game through long-term investments in such indexes as the S&P 500 instead of through the active buying and selling of stocks.

He shows how the newer index mutual funds out-earn, out-perform, and out-compound the older funds, and how to select a balanced "passive" portfolio for the long hail that will repay you many times over.


A Random Walk Down Wall Street: Completely Revised and Updated Eighth Edition, by Burton G. Malkiel

Using the dot-com crash as an object lesson in how not to manage your portfolio, here is the best-selling, gimmick-free, irreverent, vastly informative guide to navigating the turbulence of the market and managing investments with confidence. Burton G. Malkiel shows how to analyze the potential returns, not only for stocks and bonds but also for the full range of investment opportunities, from money market accounts and real estate investment trusts to insurance, home ownership, and tangible assets like gold and collectibles. Whether you want to verse yourself in the ways of the market before talking to an investment advisor or follow Malkiel's easy steps to managing your own portfolio, this book remains the best investing guide money can buy.


Unconventional Success: A Fundamental Approach to Personal Investment, by David F. Swensen

In Unconventional Success, investment legend David F. Swensen offers incontrovertible evidence that the for-profit mutual-fund industry consistently fails the average investor. From excessive management fees to the frequent "churning" of portfolios, the relentless pursuit of profits by mutual-fund management companies harms individual clients. Perhaps most destructive of all are the hidden schemes that limit investor choice and reduce returns, including "pay-to-play" product-placement fees, stale-price trading scams, soft-dollar kickbacks, and 12b-1 distribution charges.

Even if investors manage to emerge unscathed from an encounter with the profit-seeking mutual-fund industry, individuals face the likelihood of self-inflicted pain. The common practice of selling losers and buying winners (and doing both too often) damages portfolio returns and increases tax liabilities, delivering a one-two punch to investor aspirations. In short: Nearly insurmountable hurdles confront ordinary investors.
Swensen's solution is a contrarian investment alternative that promotes well-diversified, equity-oriented, "market-mimicking" portfolios that reward investors who exhibit the courage to stay the course. By avoiding actively managed funds and employing client-oriented mutual-fund managers, investors create the preconditions for investment success.

The Future for Investors: Why the Tried and the True Triumphs Over the Bold and the New, by Jeremy J. Siegel
"The constant pursuit of growth--through buying hot stocks, seeking out the next big thing, or investing in the fastest growing countries--dooms investors to poor returns." So states Siegel, an academic who, with optimism and extensive research, suggests that the future is bright for equity investors in old, reliable companies in slow-growth or even shrinking industries.
Siegel presents a framework for understanding world markets and offers strategies for protecting and enhancing long-term capital. Stocks will outperform bonds and other inflation hedges, and he recommends supplementing indexed portfolios using three directives--buy stocks that have sustainable cash flows and return these cash flows to the shareholders with dividends; recognize the economic power shifts from the West toward China, India, and the rest of the developing world; and accumulate shares in firms with reasonable valuations relative to their expected growth while avoiding trendy investments. Warren Buffet, the preeminent investor, suggests that those interested in investments should study Siegel's new facts and ideas.

Family Wealth—Keeping It in the Family: How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations, by James E. Hughes, Jr.
A family's wealth consists primarily of human capital, meaning, all of the individuals who make up the family, and intellectual capital, meaning, the sum of what each individual member knows, and consists only secondarily of its financial capital. That compelling premise forms the core of Family Wealth—Keeping It in the Family.

James Hughes, a prominent attorney and estate planner, teaches how successful long-term wealth preservation requires the creation and maintenance of a system of governance and joint decision making. Filled with inspiration and guidance, Family Wealth enunciates tested principles and practices for preserving wealth and keeping it in the family.


The Intelligent Investor: The Definitive Book on Value Investing (Revised Edition),  by Benjamin Graham (updated with new commentary by Jason Zweig)
Among the library of investment books promising no-fail strategies for riches, Benjamin Graham's classic, The Intelligent Investor, offers no guarantees or gimmicks but overflows with the wisdom at the core of all good portfolio management.
Since it was first published in 1949, Graham's investment guide has sold over a million copies and has been praised by such luminaries as Warren E. Buffet as "the best book on investing every written." These accolades are well deserved. In its new form--with commentary on each chapter and extensive footnotes prepared by senior Money editor, Jason Zweig--the classic is now updated in light of changes in investment vehicles and market activities since 1972. What remains is a better book. Graham's sage advice, analytical guides, and cautionary tales are still valid for the contemporary investor, and Zweig's commentaries demonstrate the relevance of Graham's principles in light of 1990s and early twenty-first century market trends.

The Four Pillars of Investing: Lessons for Building a Winning Portfolio, by William Bernstein
William Bernstein has carved out a reputation as one of the most brutally honest, yet consistently accurate, voices in today's financial wilderness. In The Four Pillars of Investing, Dr. Bernstein explains how any independent investor can construct a superior investment portfolio by learning these four essentials:

The Theory of Investing­ - "Do not expect high returns without risks."

The History of Investing­ - "About once every generation, the markets go barking mad. If you are unprepared, you are sure to fail."

The Psychology of Investing­ - "Identify the era's conventional wisdom and assume that it is wrong. More often than not, it is."

The Business of Investing - ­"The stockbroker services his clients in the same way that Bonnie and Clyde serviced banks."

From the essential soundness of classic portfolio theory through the inherent wisdom of investing in multiple asset classes, The Four Pillars of Investing focuses on the four fundamental topics that every investor must understand--and presents an easy-to-follow, step-by-step program for achieving long-term investing success.


Who's Watching Your Money?: The 17 Paladin Principles for Selecting a Financial Advisor, by Jack Waymire
Who’s Watching Your Money? is an invaluable guide for the millions of investors who have either unknowingly selected a poor-quality advisor or have yet to find someone to help them achieve their financial goals. Filled with in-depth insights and expert advice, this book skillfully describes the problems associated with finding, evaluating, selecting, and monitoring a financial advisor. To guide you on your journey, Who’s Watching Your Money? outlines "The 17 Paladin Principles." These proven principles–developed by author Jack Waymire–provide a summary solution that will dramatically increase the probability of finding a quality advisor to help secure your financial future.

The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisors, Trustees and Plan Sponsors, by Tim Hatton
Financial advisers, trustees, and plan sponsors - in fact, anyone who provides investment advice - may be held to a fiduciary standard of care for the financial well being of their clients, beneficiaries, or employees. Accountants, attorneys, and wealth managers all need to know about these responsibilities. But what, exactly, is meant by the term "fiduciary standard"? What must advisers do to be sure their procedures meet legal and ethical standards? This book identifies the 27 Prudent Practices, organized under Five Steps, that were developed by the Foundation for Fiduciary Studies - measures that professionals can take to demonstrate that they accept, understand, and are fulfilling the role of a fiduciary.

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