Total Wealth: Lifetime Wealth and Lifelong Security

Book Description

Everyone wants to accumulate wealth and retire in style.

Customer Reviews:

Helpful.......2005-03-28

Although this book repeats the "invest in index funds for the long haul" approach, which is well covered in other books like "The Four Pillars of Investing" by William Bernstein, I think this books most helpful contribution is in its practical application of how lifestyle and investing impact one another.

The dilemma that the author addresses is one where we have to choose whether to spend our money or to save and invest our money, and his solution is that you can do both by using debt while keeping your money invested. The book unifies investing strategy with debt strategy via its "Personal Endowment Account" approach, which boils down to "keep all your money invested in index funds, which historically have generated total returns (which is equal to price appreciation plus portfolio size growth via dividends resulting in compound growth) of around 14%, while funding your lifestyle needs (e.g., house, car, college, etc.) via debt at a lower interest rate, so that the net result is positive growth." Keeping your money invested also helps insofar as it defers capital gains taxes, which positively impacts the compounding effect. The author also addresses the thorny issue of timing market entry. His solution is basically dollar cost averaging, again, not a new idea, but one that fits well in the strategy outlined in the book.

Personally, I have not run across anything quite like the Personal Endowment Account concept in my readings, and I think it's a very helpful concept, since most investing books just talk about investing, but don't really touch on the reality that living costs money. This book bridges these two aspects of personal finance. Also, I like his conservative approach, which is that you don't take out debt in excess of the amounts invested in your Personal Endowment Account, which makes for disciplined spending and borrowing.

Good stuff!.......2003-03-07

This book has reiterated what I have read in many places,including fool.com, which is that the safest and highest returning longterm investment is equity index funds. Mac Barnes' book gives the graphs of the history of market performance in order to support his argument that passively investing in index mutual funds will have you beating 93% of actively managed funds (after taking into consideration taxes and management fees).

He also makes the point that the S&P 500 is made up of the 'leaders' of the market, and so it is the best investment. (better than, say, a total market fund such as Wilshire 5000).

My only complaint is that he doesn't clearly explain what he means at the beginning of the book when he says things like "Imagine if all the cars you ever owned (or will own), plus your house, plus other major expenses were all in your PEA (personal endowment account) compounding for life?" What he is trying to say (and eventually does) is that if you have any free cash, it should be invested in the market. You shouldn't pay cash for your house, cars, or anything you can buy on credit at a reasonable interest rate. (less than the expected rate of return in the market) This is an important concept, and the most original one in the book. He should emphasize it clearly earlier in the book.

The only other complaint I have is that he barely touches on IRA's and 401K's. He assumes that your long term investment is made either in addition to, or instead of within a retirement fund. He DOES say you should obtain all possible matching funds from your employer as part of a 401K. But, besides that, he doesn't get into many of the advantages or disadvantages of using retirement accounts as part of an overall wealth building plan.

Besides that, this was a great common-sense level book with simple math in the examples, and no confusing technical jargon.
The plan does assume you will be working for most of your life, and that you don't intend to use the profits of your investments as near term income. Obviously, you have to be able to make payments on any loans or mortgages until they are repaid. Ideally, you also have more money to continue contributing into the fund, as well. I think this book is especially useful for young people who have lots of time, and few financial commitments. The crux of this book is especially if you have lots of time, put anything you can into the market as soon as possible.

Beating the pros, made simple.......2002-02-13

Here's a book that insults all guru's in the market. 93% of all mutual fund managers have failed to beat the index, so Mac Barnes says, 'why try?' Invest for the long haul and don't bother watching CNBC. You will win. He also gives keen insight in other financial matters that I never considered, such as 'to lease or borrow.' You will be shocked at the conclusion. Mac isn't trying to wow you with great strategies and concepts. Just keep it simple, more simple than you ever realized. Excellent book. I did not put it down (and I am a financial consultant).

A thoughtful book on a pleasant subject........2001-08-24

This book tells how to manage your financial life. Although it is full of sage, practical advice, it is really a book of ideas. It is written with a light touch and is a pleasure to read. The ideas in the book are based on a few principles: 1) stocks produce handsome returns (at least they have for the past two hundred years); 2) the risk of investing in stocks is not terribly great if you go about it the right way and your time horizon is reasonably long; 3) capital appreciation is not taxed until it is realized; and 4) an index fund provides a good vehicle for most people to participate in the stock market. From these principles Barnes argues that you should create for yourself a "personal endowment account" (PEA) and invest it in an index fund with the intention of never touching it. Furthermore, once you have set aside enough cash to cover upcoming expenses and emergencies, you want to put as much as possible into your PEA and let it grow. How to evaluate the risks associated with your investment and your lifestyle is discussed very thoughtfully. Beyond that, much of the book is devoted to finding clever ways to put as much money as possible into the PEA and clever ways to avoid having to take it out. Most people can put much more money to work for much longer than they would ever have imagined before reading this book. That is the road to Total Wealth.

Excellent but..........2001-06-19

The first 2/3rds of this book provides excellent advice for the nonprofessional investor and backs it up with facts. I wish I had known this stuff 30 years ago and did not have to learn it the hard way. The last part of the book was troubling in that it provides information re using margin accounts and then seems to drift off course to using brokers. Margin accounts are too dangerous for the investor to whom this book is directed and using a broker seems a misstep on the path to creating a S&P 500 index fund investment which is the point of the book. Also, a great deal of this book seems to be a duplication of information from "Bogle on Mutual Funds" which is THE definitive work on index fund investing but is not even mentioned in the suggested reading list provided in this book. You might want to read Jack Bogle's book first or instead (Bogle started the Vanguard fund family)

Checklist for Success: A Pilot's Guide to the Successful Airline Interview (Professional Aviation series)
Average customer rating:

Small book

Nice book!

An important guide for pilot interviewees

Not that great

Helped me do a great interview at Continental

Checklist for Success: A Pilot's Guide to the Successful Airline Interview (Professional Aviation series)
Cheryl A. Cage
Manufacturer: Aviation Supplies & Academics, Inc.
ProductGroup: Book
Binding: Paperback

Job Hunting | Job Hunting & Careers | Business & Investing | Subjects | Books
General | Transportation | Nonfiction | Subjects | Books
Piloting & Flight Instruction | Aviation | Transportation | Nonfiction | Subjects | Books
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Checklist for Success CD: Virtual Interview Preparation (Professional Aviation series)

Airline Pilot Interviews: How You Can Succeed in Getting Hired /921T

Ace the Technical Pilot Interview

Mental Math for Pilots (Professional Aviation series)

Airline Pilot Technical Interviews: A Study Guide (Professional Aviation) (Professional Aviation series)

ASIN: 1560275065

Book Description

In response to the growing airline practice of hiring individuals with highly developed management, communication, and team player skills in addition to technical knowledge, this workbook covers the application, resume, and interview strategies that make for a more well-rounded job applicant.

Customer Reviews:

Small book.......2007-07-23

I haven't had a chance to read the book yet, but it's much smaller than I expected it to be. For $30, I expected a little more content that what could be contained in the size of a thin mass market paperback.

Nice book!.......2005-09-26

Very good, with clear and concise language, a must for who's seeking an airline crew job.

An important guide for pilot interviewees.......2001-10-30

Very informative and well written. Ms. Cage obviously understands the ins and outs of this industry and the information contained in this book will prepare anyone for a professional interview with a major airline.

Not that great.......2001-09-28

Not a really bad book, but nothing really earth shattering in it to make it worth the price. Another "aviation employment" book marketed to us poor saps who are willing to try (and buy) anything to help us get a flying job.

Helped me do a great interview at Continental.......2000-08-15

Better than just a list of interview questions, this book shows you how to answer using success stories from your past. Even an applicant with limited experience can use this "story" format to answer questions and help the interviewer get to know him or her in the most positive light. In my interview I was able to SHOW that I had leadership/decision-making/problem solving skills by drawing from past experiences and showing the interviewer how I had handled each challenge. The book requires some mental effort and preparation, but it will be time well spent.

I have recommended this book to a friend seeking a flight attendant job as well. Actually, I think the principles here are applicable to any job interview if you know what qualities and qualifications the employer is looking for and apply the principles.

Risking the Future: Adolescent Sexuality, Pregnancy and Childbearing Volume 2/2 Parts
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Risking the Future: Adolescent Sexuality, Pregnancy and Childbearing Volume 2/2 Parts
C. Hayes
Manufacturer: Natl Academy Pr
ProductGroup: Book
Binding: Paperback
ASIN: 9997049616

Average customer rating:
Risking the Future: Adolescent Sexuality, Pregnancy, and Childbearing

Manufacturer: National Academy Press
ProductGroup: Book
Binding: Paperback

Human | Sexuality | Psychology & Counseling | Health, Mind & Body | Subjects | Books
General | Social Sciences | Nonfiction | Subjects | Books
Marriage & Family | Sociology | Social Sciences | Nonfiction | Subjects | Books
Culture | Sociology | Social Sciences | Nonfiction | Subjects | Books
General | Social Issues | Teens | Subjects | Books
General | Medical | Professional & Technical | Subjects | Books
ASIN: 0309036984

RISKING THE FUTURE: ADOLESCENT SEXUALITY, PREGNANCY, AND CHILDBEARING, VOLUME 1
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RISKING THE FUTURE: ADOLESCENT SEXUALITY, PREGNANCY, AND CHILDBEARING, VOLUME 1
Cheryl D Hayes
Manufacturer: National Academy Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OT1FXS

Book Description

The brightest comet in 20 years is about to make its appearance. Discovered 18 months ago, Comet Hale-Bopp has grown steadily larger and brighter as it approaches the Sun and Earth. It will be numbered among the great comets of our lifetime. Comet Hale-Bopp will be at its best from January to May 1997. It promises to be an outstanding sight, visible anywhere on Earth (although especially fine for the northern hemisphere). For everyone interested in seeing this new celestial wonder, here’s a detailed guide to the coming apparition: how to see the comet, what to look for, how to photograph it - even how to discover a comet on your own. Fully illustrated in colour, this book also explains what comets are and tells of their place in the solar system and human civilization.

Book Description

Narcissus and Daffodil is the first book to provide a complete overview of the genus Narcissus. Prized for centuries in western Europe as an ornamental plant, it has recently attracted attention as a source of potentially valuable pharmaceuticals. In eastern European countries, however, Narcissus and other Amaryllidaceae have been valued as a source of galanthamine for several decades. Presenting original research material and information not accessible outside eastern Europe, Narcissus and Daffodil contains over 1,700 references, making it an invaluable text for graduates and researchers both in academia and industry and those working in medicine, perfume chemistry and drug manufacture. Contributors James R. Murray Bastos, Faculdade de Ciencias farmaceuticas de Ribeirao Preto Peter W. Bowers, Treliske Hospital, UK James B. Briggs, ADAS Consulting, UK David Brown, University of portsmouth, UK V.N. Bulavka, Slavich Company, Russia Dr. O.A. Cherkasov, Department of Agriculture, Moscow Dr. Carles Codina, University of Barcelona Dr. Els J.M. Van Damme, Katholieke Universiteit Leuven, Belgium Anthony C. Dweck, Dweck Data, Uk Gordon R. Hanks, Horticulture Research International, UK Dr. Kornkanok Ingkaninan, Naresuan University, Thailand Prof. Dr. Hubertus Irth, Screentec, The Netherlands Dr, Celia G. Julian, treliske Hospital, UK Dr. Mirko Kreh, Merck KgaA, Germany Brian Mathew, Surrey, UK Dr. Rita M. Moraes, University of Mississippi, USA Dr. James R. Murray, Hunter Fleming Ltd, UK Dr. N.P. Dhammika Nanayakkara, University of Mississippi, USA Prof. Willy J. Peumans, Katholieke Universiteit Leuven, Belgium Christian Remy, Laboratoire Monique Remy, France Prof. O.N. Tolkachev, Vilar, Russia Prof. Rob Verpoorte, Leiden University, The Netherlands Dr. Frances Viladomat, University of Barcelona

Narcissus and Daffodil: The Genus Narcissus (Medicinal and Aromatic Plants - Industrial Profiles)

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Narcissus and Daffodil: The Genus Narcissus (Medicinal and Aromatic Plants - Industrial Profiles)
Gordon R. Hanks
Manufacturer: NY
ProductGroup: Book
Binding: Hardcover
ASIN: B000MUD7SK

The Awakening: Complete, Authoritative Text With Biographical & Historical Contexts, Critical History, & Essays from Five Contemporary Critica. Perspectives (Case Studies in Contemporary Criticism)
Average customer rating:

Great Story to Read and Discuss at School

Great Story to Read and Discuss at School

The Awakening: Complete, Authoritative Text With Biographical & Historical Contexts, Critical History, & Essays from Five Contemporary Critica. Perspectives (Case Studies in Contemporary Criticism)
Kate Chopin
Manufacturer: Bedford/St Martins
ProductGroup: Book
Binding: Paperback

Chopin, Kate | Classics | United States | World Literature | Literature & Fiction | Subjects | Books
19th Century | United States | World Literature | Literature & Fiction | Subjects | Books
Chopin, Kate | ( C ) | Authors, A-Z | Literature & Fiction | Subjects | Books
General | Reference | Subjects | Books
ASIN: 0312062354

Customer Reviews:

Great Story to Read and Discuss at School.......2000-04-03

This book has a lot of literary elements in it which in some cases can be identified very easily when being discussed in class. This book is a much easier book to read and understand because the text and the wording is easy, but not too easy. I would recommend this book to anyone who likes to read about romance and how men see women duting that period of time.

Great Story to Read and Discuss at School.......2000-04-03

The Awakening: Complete, Authoritative Text With Biographical and Historical Contexts, Critical History, and Essays from Five Contemporary Critical (Case Studies in Contemporary Criticism)

Average customer rating:

Kate Chopin: Problematic Authoress
It is not about things that go boom. Thank goodness.
Great book but great lack in action
The book was a great representation of a woman's feelings.
It was boring.

The Awakening: Complete, Authoritative Text With Biographical and Historical Contexts, Critical History, and Essays from Five Contemporary Critical (Case Studies in Contemporary Criticism)
Kate Chopin
Manufacturer: Bedford/St Martins
ProductGroup: Book
Binding: Paperback

General | Reference | Subjects | Books
ASIN: 0312138563

Customer Reviews:

Kate Chopin: Problematic Authoress.......1999-03-05

After perusal of the other reviews, I was ashamed to see so many that discarded the book as "lacking in action." I'm amazed that someone with such mental lethargy bothers to write a review. The book is packed with drama, suspense, and a dangling question of the position of women in a patriarchal society. I only denote it three stars becuase of Chopin's too tidy ending, and unresolved thematics. Realist that she was, she should have known that for every Edna who commits suicide, there are thousands of women who suffer in society's fetters. As for the "boring" reviews...go enrich yourselves with a Stallone flick.

It is not about things that go boom. Thank goodness........1998-08-04

After reading all the other reviews and having read this book twice, I find the criticism of its pace unthoughtful. It was written in a time when all books lacked action, and by the standards of the day, this book was packed with more sex than should have by far. It was deemed, "poison" by critics all over America. The Victorians did not write about women leaving husbands, extramarital sex and suicide: this is action-packed compared to a Jane Austen novel. It is anti-feminist yet feminist at the same time; it shows sweet dreams against bitter realities. Take another look at this book if you have read it and thought the same as many car-chase, big bomb, nudity, and gore seeking people of America today have discarded it.

Great book but great lack in action.......1998-03-29

This is a great book reflecting the importance of a woman's desire to feel freedom and independence. Although this book is almost a century old, it is still a handbook for all repressed women in physically and/or mentally abusive relationships. The importance and elegant use of symbolism are also something to admire. However, the novel lacked in action. More action would have assissted greatly in people's desire to read this book.

The book was a great representation of a woman's feelings........1998-01-19

The Awakening was a great representation of how a woman can feel. It illustrated that women are people too, and showed that if you put your mind to it, you have the power to "awaken". Even though Edna did not quite become her full "self", she had the strength to try, which was very inspiring.

It was boring........1998-01-13

Edna's progression from a repressed housewife to a liberated woman tells the story of independance. However, I felt that the book was dull and not fun to read. If anything, it was the study of the psychosis of one woman but not a very interesting topic to write a book on.

Average customer rating:

Extremely Modern Woman of 19th Century [50]
A person searching for meaning is NOT feminism
A 190 page book that felt like 400
A cutting edge novel for its time
Ahead of her time

The Awakening: Complete, Authoritative Text With Biographical and Historical Contexts, Critical History, and Essays from Five Contemporary Critical Perspectives ... (Case Studies in Contemporary Criticism)
Kate Chopin
Manufacturer: Bedford/St Martins
ProductGroup: Book
Binding: Hardcover

United States | Short Stories | Literature & Fiction | Subjects | Books

The Great Gatsby
The Crucible (Penguin Classics)
The Scarlet Letter (Penguin Classics)
Their Eyes Were Watching God
The Adventures of Huckleberry Finn (Bantam Classics)

ASIN: 0312089848

Product Description

A woman seeks love and the fulfillment of her essential nature outside of her stuffy, middle-class marriage. This book shocked the readers of 1899 and paved the way for the modern novel. Three 90-minute cassettes and one 60.

Download Description

A minor masterpiece, The Awakening was a scandalous book when it arrived from the turn-of-the-century presses. With a heroine who found her husband dull, married life dreary and confining, and motherhood to be bondage, this revolutionary book is still relevant to many.

Customer Reviews:

Extremely Modern Woman of 19th Century [50].......2007-09-24

Some marriages do not work - sometimes they commence well enough but people drift apart. In this book, the protagonist, Edna Pontellier, watches here marriage dissipate for nontraditional reasons - ultimately ending with traditional tragedy.

None of the classic reasons for failed marriage exist. Husband was not violent toward her. He was not demanding upon her. In fact, he granted her as much slack as any man of that time period would ever have allowed. He was a good man. "As the devoted wife of a man who worshiped her, she felt she would take her place with a certain dignity in the world of realty, closing the portals forever behind her upon the realm of romance or dreams."

Like "Wide Sargasso Sea" this entails the life off continental United States and customs of those identified as Creole. Unlike Sargasso's emotionally abused wife, Antoinette, Edna is 28, turning 29, and is just . . . just . . . very confused. Her 40-year old husband seeks to aid her in this time of maturation, but is really helpless. Beautiful and unsure of her previous decision to marry, she is wooed by others - all knowing that societal customs will not allow her to engage in illicit passion unless she makes a rash decision to leave her anointed responsibilities to her children and husband. What will she do when her lover, Robert, returns? "Do? Nothing, except feel glad and happy to be alive." But is this enough for Robert? Is it enough for her?

Of course not. "[S]he felt the old ennui overtaking her: the hopelessness which so often assailed her, which came upon her like an obsession, like something extraneous, independent of volition." Her life became a lingering heart-breaking bore.

She is neither free nor in servitude. She is neither chattel of; nor an equal to her husband. She is a prisoner of her emotions, not of societal constraints. She lives in a relatively free society, and is permitted to roam about relatively freely. But, she is not happy with this. Little can engage her sensibilities in this period of malaise which is constantly questioned by hormonal and philosophical desires. She wants a divorce although her husband did nothing wrong. But, in her days - the 19h century - divorce was not an alternative. Moreover, her husband and her society are Catholic.

So she had to lead the remainder of her life with self-hatred - about how she got where she is and where she is going with what she has. She reasons, "I am no longer one of Mr. Pontellier's possessions to dispose of or not. I give myself where I choose." And, so she shows the most demanding act of volition: suicide.

My Bantam edition came with a forward by Pulitizer-winning author Marilynne Robinson ("Housekeeping" and "Gilead") who wrote, "`The Awakening' should be read as a meditation on the experimental basis of romantic consciousness, the sense that the world has a numinous life that is addressed to human perceptions and that it has a meaning humankind is competent to interpret. . ." Robinson is correct, and this book is truly generations ahead of its time in addressing this extremely undiscussed topic of female self-recognition against the male's world of control.

A person searching for meaning is NOT feminism.......2007-08-13

I purchased this book for my son's AP lit class. He read it and described Edna as an angry woman not happy with her life. I wondered how that made it a book about feminism and decided to read it. Now that I am done, I feel very sad for Edna. Given the description of Edna she could have depression. She loves her children, but not always...possibly postpartum depression that is continually getting worse. I believe the things Edna questions are not limited to women. I imagine many men of that time and now get married because it is the thing to do. Pursue jobs they do not like, but must take. Have children because that is what is expected. I believe Chopin is questioning societal expections of her time for both men and women. Clearly Leonce is floundering. The rug has been pulled out from under him. He was following the plan and now it has changed. No, this is NOT a book about feminism. This is about an individuals struggle to find him or herself. About accepting responsibility or being selfish. I can't wait to read the book that is paired with this for his AP class: Memoirs of a Geisha.

A 190 page book that felt like 400.......2007-07-10

Among so many lengthy reviews, allow me to make this pithy with no apology: It is clear to me that this is considered an American classic not for any particular merit in Chopin's writing but solely in the controversy that surrounded its publication. If you're looking for a rich and stirring piece of American literature, keep looking.

A cutting edge novel for its time.......2007-06-27

If you enjoy novels that address the social norms and conventions of a given time period, this is one you won't want to miss. I was first introduced to this book as a sophomore in college in my "Women Writers of the 20th Century" English class. Kate Chopin masterfully paints a picture of a woman desperately seeking more in her life; a woman who doesn't "fit the mold" of societal conventions at the turn of the 20th century. Chopin slowly builds Edna Pontellier bit by bit, painstakingly peeling away at the layers and the facades this woman has been taught to put on--and which her character throws off with fancy free and terrible heartache almost simultaneously. Edna is a flawed heroine, but perhaps that is why the reader becomes entranced with her. There is a little of Edna Pontellier in all of us--seeking the essence of life; seeking love and freedom.

Ahead of her time.......2007-06-13

Kate Chopin's The Awakening gives an insightful look into the life of a woman trapped in a marriage and a life that doesn't befit her. The characters are very well done -- not all of them are deep, but for good reason. Chopin's writing style never ceases to amaze. I've read this book three or four times, and it never loses its power, its impact. There are themes throughout that give the story a deeper meaning. When you read it, think about the elderly widow and what she represents, and the young lovers. Everything means something, and it is all tied together very well. It's the best book I've ever read. I simply love it.

Kate Chopin, the Awakening : Complete, Authoritative Text with Biographical & Historical Contexts, Critical History, & Essays from Five Contemporary Critical Perspectives (Case Studies in Contemporary Criticism)

Average customer rating:

Kate Chopin, the Awakening : Complete, Authoritative Text with Biographical & Historical Contexts, Critical History, & Essays from Five Contemporary Critical Perspectives (Case Studies in Contemporary Criticism)
Kate; Walker, Nancy A. (editor) Chopin
Manufacturer: Saint Martin's Press, LLC
ProductGroup: Book
Binding: Paperback
ASIN: B000KOZIFS

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