This is a good book for family child care providers who don’t know a lot about financial planning for their retirement.
It’s subtitle, “5 Steps to More Money, Less Risk, and More Peace of Mind” is an accurate description of what this book offers.
The book explains who to listen to and who to ignore when searching for financial advice. Hint: don’t listen to Wall Street, friends or relatives.
The author, Paul Merriman, is a founder of an investment advisory firm and has written a previous book, “Live It Up Without Outliving Your Money!”
The book is easy to read and explains the basics of retirement investing in simple to understand terms. He explains why it’s best to invest in low-cost funds (index funds) and how to diversify your investments for the best long-run returns.
The book includes a chapter “Mutual Fund Model Portfolios” which identifies five mutual fund families (American Funds, Fidelity, T.Rowe Price, TIAA-CREF, and Vanguard) and describes model portfolios for each fund family. Each portfolio includes options for an aggressive, moderate or conservative investor.
As the Introduction states, “Investing success is based more on owning the right mix of assets than on owning any particular stock or fund.” This book gives practical advice on how to diversify your retirement funds.
I fully agree with Mr. Merriman’s approach and advice. I’ve written articles on investing, such as: “Where Should I Invest My Money for Retirement?”
And I’ve written a book Family Child Care Money Management and Retirement Guide.
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