CA$H for Life: Unlock the Incredible Monthly Options Cash Income in Your Stock Portfolio.

by Ronald Groenke

Book Overview

Finally a successful strategy to 1)Buy the right stocks at the right time, and 2)Generate a substantial monthly cash income by selling options - both calls and puts. Seminar participants strongly... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0967412870
• ISBN13: 9780967412870
• Release Date: June 2006
• Publisher: Keller Publishing
• Length: 170 Pages
• Weight: 0.05 lbs.
• Dimensions: 0.7" x 6.3" x 9.3"

Customer Reviews

Simple yet powerful

Cash for Life is simple to understand and a quick read. I have been trading a similar model for about 2 years and this book is by far the most similar to my risk tolerance and investing philosophy and it added some additional thoughts and angles that I hadn't previously incorporated. I look forward to reaping the rewards!

Create Your Own Stimulus Plan

Let's face it, passing another stimulus plan is not going to make any financial difference for you or me any time soon. Why, because under two different administrations Washington still doesn't have a clue how to solve our financial mess. Spending our way out of the recession is not a formula for building confidence, equity or stimulating growth in our current economy - it's a formula for disaster. So what are we to do? If you're like me you have a majority of your savings (retirement or otherwise) tied up in stocks. Stocks fluctuate based on market forces, corporate actions or speculators' wild moves. We have very little control over our portfolio. In addition, how much have we wasted investing in fads (dot com, real estate, oil) at bubble tops and capitulating in a panic as their bottoms? My proposal is to take back control and create your own stimulus plan. A stimulus plan you can understand; you can control; one that doesn't need a majority vote of congressmen who have their own agendas and one that will start building a monthly cash flow. Ron Groenke's has written a book call "Cash for Life". In this book he shows you a simple way to invest and generate a steady, monthly cash flow whether your stocks move up, down or sideways. This very readable book, in story form, is easy to follow and understand. His strategy is built on the concept of selling covered called or selling naked puts. As an example, say you own 1000 shares of a stock. You can sell 10 call contracts (1 contract equals 100 shares). You receive a premium up front which is yours to keep. Now two things can happen. Your covered call expires, in which case you are free to sell more call contracts on the same 1000 shares of stock. Or your covered calls get exercised. In this case your 1000 shares of stock are called away and you receive the proceeds. With the sale of your stock coupled with the premium you received from the covered calls and you can purchase another stock and start the whole covered call process all over again. The attractiveness of this strategy is based in its straight forward, simplistic approach and here's why? As humans we are not wired for money. Behavioral Finance has shown that when it comes to money decision, we will most often make the wrong decision. As Warren Buffet states: "To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insight, or inside information. What's needed is a sound intellectual framework for decisions and the ability to keep emotions from corroding that framework." How often have you sold a rising position too soon, or held on to a losing position too long. Mr. Groenke's approach takes the guess work and emotion out of the equation. His strategy will get your stimulus plan on track and help you rebuild your portfolio month by month regardless of which way the market moves. But be advised - this strategy is not for the faint of heart and does require some homework and

Something you wish you knew a lot sooner

This book reminds me of something my grandfather used to say, "I wish I knew, what I know now when I was your age". This is the book that will give you the information and knowledge to literally have cash for life and limit your downside for loss. Something I wish I had learned, and done many years ago. I have lost probably $100,000 in the equities markets over the years, and I really didn't have to. If you only read one financial book this year, this is the one to read!

A lot to gain from reading this book

A creative way in introducing options trading and specifically covered call writing. There are many plugs throught the book for the software and seminars as well as personal recomendations wherever the publisher decided to put them but I found those humorous. I was amused at the portrayal of a former stock brokers disdainful attitude to his fomer clients and their money - how true, where are the client's Rolls Royces? The author does not peddle a get rich quick approach but rather emphasizes the opposite - a slow and steady approach to profit taking is the key to cash flow. The author shares with the reader a formula in determining an entry level for stock purchasing that can be worked out without the software, though I am sure the software would make it easier (I have not purchased the software). The novice and the expert, I think, can glean some sparkling gems from this book.

Great book on how to get rich slow!

Mr. Groenke's book presents a very readable, step by step approach to learning about covered calls. He also provides some very good informaiton on how to pick the stocks that are good to hold while working with options. I recommend this book highly to those who are interested in adding wealth building potential without taking on additional risk.