Gimme My Money Back: Your Guide to Beating the Financial Crisis
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One way or another, you lost money as a direct result of the financial crisis. Now you have to start making it back, and you can do that by reading this book. This book shows how the markets work and how to be involved, how to calculate personal risk tolerance based on personality, goals, age and years from retirement, how to avoid losing money, and how to use mutual funds, index funds, stocks, ETF’s, bonds, and other investment vehicles to speed up readers’ own personal recovery. Includes model portfolios to get you started right away.Written by CNN Chief Business Correspondent Ali Velshi using his trademark user-friendly voice, GIMME MY MONEY BACK is a straightforward guide to understanding how we got into the mess we’re in, with concrete, simple, proven steps to get you out of it.
1. IT'S NOT YOUR FAULTYou didn't do anything wrong - this time. Unlike the dot-com bubble where people made uninformed bets, this market has punished people who were properly diversified and who followed the expert advice. So what went wrong? 2. WHO GETS THE CREDIT?Credit markets and the impact they have on you.3. BANK ON IT?Is your cash safe in a bank account? Explain FDIC. 4. THE MARKETS AND YOUHow the stock market works, and why you need to be in it. Tidbits about why market timing isn't effective, and the power of compounding. 401(k)'s and IRAs.5. WHAT NOW?What can you do with your money to keep it safe? Everything from keeping it in your mattress to CD's, moneymarket deposit accounts and money-market mutual funds. Explain what they are - where the money goes (nobody thought money-market mutual funds were risky until they "broke the buck").6. TO THE RISKER GO THE SPOILSBut you can't make enough money to beat inflation without taking risk. How much risk can you handle? We'll show you how to figure out and understand your risk-tolerance.a. Strategies for those with LOW risk tolerance or a short time-horizon to retirementb. Strategies for those with MODERATE risk tolerance and 5-20 years until retirementc. Strategies for those with HIGH risk tolerance and 20+ years to retirement.d. Strategies for those IN retirement.7. BASKETS FOR YOUR EGGSExplain diversification and asset allocation. Show how 8 different large asset groups always jockey with each other for different positions on the scale of annual returns.a. Staying in balance. Explainrebalancing.8. GETTING OUT FROM UNDERYou know you have to pay things off - what's first? Your mortgage? Your student loan? Your line of credit? Your credit cards?9. THE KEY TO SUCCESS- LOWER RISK, RISKHow mutual funds, ETF's and index funds work - why they will work better than trying to pick stocks.10. BONDS, JUST BONDSHow bonds work and the role they play in your portfolio.11. SUGAR AND SILVERWhat about commodities and precious metals - are they a hedge against the stock markets?12. THE ENERGY SECTORWhat about oil? Should you be betting on it, or on alternative energy?13. FRESH FOREIGN LEGIONSWhat role do non-U.S. markets play in your retirement and investments?14. WORKSHEETS
