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Die Broke : A Radical Four-Part Financial Plan
- By Stephen Pollan, Mark Levine (Paperback, released 01 October, 1998)
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ISBN: 0887309429
ASIN: 0887309429
SalesRank: 32281
Die Broke : A Radical Four-Part Financial Plan - - By Stephen Pollan, Mark Levine
REVIEWS:
Rating: 2
Attention-getting title hides contradictory advice
"Die Broke" grabs your attention, all right, but the advice included is contradictory. The author says that a job is just a money-generating mechanism, but then says you should work until age 70. If your real enjoyment comes from things outside work, then doesn't it make more sense to invest early, retire early, and devote more time to whatever gives you the most satisfaction? Conversely, if you want to work until 70, then shouldn't you be working at something you love?
If you follow his overall advice, you WILL have to work until you're 70, because you won't put enough away to provide for yourself. Yet many of the sub-components of his theory are perfectly sound and should be obvious to anyone who's ever balanced a checkbook: live within your means, don't use your credit cards to buy things you can't pay off when the bill comes, don't count on real estate appreciating like it did in the past.
My Midwestern grandmother expressed the rules of financial planning much more concisely years ago: "Save ten percent, give ten percent, spend the rest with thanksgiving and praise."
Rating: 5
Great for Bankruptcy Recovery
As baby boomers that lost it all and is in the process of rebuilding our life, we found this book to be very helpful. In addition, it points out the hardest lesson that we've learned - your employer is not loyal to you and you can't count on them to take care of you.
This book isn't going to make you wealthy, and that is not its intent. This information in this book, paired with info from Suze Orman, are powerful tools for protecting yourself from future crises.
It isn't always right on the money, but it offers food for thought and practical advice. You won't find any book that has all the answers - if that were true, we'd all be rich.
Rating: 5
Money talks...but all mine ever says is good-bye
"Die Broke" was an interesting read although not what I was looking for.
I got the broke part down years ago with out much effort. Now I just need to decide on how to best achieve the rest of the formula.