The New Rules of Money

Simple Strategies for Financial Success Today

By: Ric Edelman

Narrated by: Ric Edelman

Length: 2 hrs and 55 mins

Publisher's summary

It's time to learn the new rules.

You can't afford to manage your finances the way your parents did. While your parents and grandparents paid relatively little in taxes, you lose more than a third of your income to the tax collector. Prices for goods and services were stable for the first 60 years of this century, but you must buy today to avoid tomorrow's price increases. The result? You are earning more money than ever, but you also save less than ever. And, by living longer, you increase the risk that you will outlive your income.

In The New Rules of Money, Ric Edelman puts you on the right financial course. His strategies are fun to listen to and easy to follow, and he shows you how to maximize your personal finances in today's economic climate. He tells you the best strategies for paying for college, buying a home, saving on taxes and choosing the right investments. He changes your thinking about insurance, retirement, and estate planning.

No matter what your economic situation, it is time for you to change the way you think about personal finance. Ric Edelman will show you the way.

(P) and ©1997 HarperCollins Publishers, Inc., All Rights Reserved. Harper Audio, a division of HarperCollins Publishers

Critic reviews

"Accessible and easy to read, The New Rules for Money is for those who have little time for financial planning but want good, straightforward advice about what to do with their money." (Amazon.com)
"He's unconventional. He's contrary. But when it comes to investing, people listen." (The Washington Post)

Misleading Information

Although there are a few pieces of valuable information in this audio program, most of the author's advice is inaccurate based on my personal experience. For example, he warns that purchasing a condo or townhouse is a big mistake and that you will almost certainly lose money when you choose to sell. That's just downright wrong. I purchased a townhouse style condominium eleven years ago and sold it recently (even in this down market) realizing a substantial gain of 275%. He also says that divorcees and retirees are the only people who purchase such properties. Not true. The person who purchased my unit is a professional at a nearby fortune 500 company. In dicussing whether college is a wise decision as compared to simply entering the job market straight out of high school, he recommends the later. He uses the fact that the individual would have a four-year head start on the college graduate to begin saving as the prime advantage. But in another breath, he also notes the SUBSTANTIAL difference in their earning potential (the college graduate making three to four times what the high school grad does). What he fails to take into account is that the college graduate's substantially higher income would also allow him MUCH MORE freedom and opportunity to invest in other areas that the high school graduate won't even be able to consider. This is only the tip of the iceburg lettuce. I'm not sure where the author lives or what his financial circumstance is, but, it seems as though he's intent on providing inaccurate information in order to watch people fail while practicing his "rules." Use your intelligence here and weigh the information carefully! I believe next time I'll check out what Suze has to say.

Meant for the poor bad advice and poor math

He should tell people how to make money, but to stop spending money on a coke