Live Well on Less Than You Think: The New York Times Guide to Achieving Your Financial Freedom

by Fred Brock

Book Overview

A smart, down-to-earth primer on financial survival-and prosperity-in today's uncertain economy, from the author of the bestselling Retire on Less Than You Think

With Retire on Less Than You Think, New York Times business columnist and editor Fred Brock challenged the conventional wisdom on the real costs of retirement. Now he turns his attention to the hype that is driving money decisions during the working years-credit...

• Format: Paperback
• Language: English
• ISBN: 0805077251
• ISBN13: 9780805077254
• Release Date: January 2005
• Publisher: St. Martins Press-3PL
• Length: 192 Pages
• Weight: 0.40 lbs.
• Dimensions: 0.5" x 6.1" x 9.2"

Customer Reviews

Great Practical Guide of Basics of Living Within Your Means

Since I'm a middle Baby Boomer, it was interesting to see the perspective of a few Generation X couples interviewed by the author. These Generation X couples expected the Baby Boomers to break the Social Security system, so there won't be an Social Security left for them......and therefore they should be more self-reliant than the Boomers. The X'ers also thought retirement should be replaced with having a flexible set of work skills that allow you to work until you are dead. The X's will have a hard time building any significant net worth considering the average college loans are now $20,000 and the X'ers sampled had between $3,000 and $8,000 in credit card debt. As a Baby Boomer, I am glad to see Generation X people plan to be more self reliant for their financial future.......my generation needs people to buy our stocks when we sell them for retirement living expenses! I really enjoyed financial planner Deena Katz's recommendation to focus on low cost index funds....since I am a huge fan of Index Funds. Her recommendation for three index funds with 50% invested in the S & P 500, 25% in the Russell 2000, and 25% in foreign stocks is a very reasonable recommendation. I also enjoyed the portion of the book about salaries and expenses as a function of geography. Choosing where you work or retire to can have a dramatic impact on your living expenses. The author's opinion is that between this book and his first book, Retire on Less Than You Think....you can easily figure out how to live within your means today.... and you can also learn to live on less than the 70-80% of pre-retirement income that is assumed by Wall Street and the mutual fund industry. Over-all a great practical guide on how to live within your means through smart planning about college selections, autos, and credit cards. I would suggest companion books to supplement this book including: The Richest Man in Babylon Bogle on Mutual Funds: New Perspectives for the Intelligent Investor The Millionaire Next Door The Four Pillars of Investing: Lessons for Building a Winning Portfolio A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pro's The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life The Bogleheads' Guide to Investing Wealth: Grow It, Protect It, Spend It, and Share It All About Asset Allocation.

I Have More Money

Of course, the best reading skill is the use of discernment. Keep the info that resonates/is useful and toss the rest. I was on the right track, but as a baby boomer, did not get on the track soon enough. I read this book one week ago and used some of the advice. I have already seen significant results in cold, hard cash. That says it all. I am also going to share the reviews with my smoking cessation classes. They are all going to have significant extra money soon. Thanks, Fred!

the best of it's kind

This author de-bunks the myths perpetrated by the investment industry. He also lays out a path for following your bliss. He is so right on and his resources are very, very useful. He simplifies the big pictures and puts you on the map for a positive early-retirement experience.

Best financial advice for the average person

This is one of the best books I've seen on financial management for the average person. It is clear, simple, practical and completely workable. It is relevant to anyone, from the guy starting a first job out of high school to a retiring couple with a good income from a pension plan. It works for the well-off, the middle-class, and the "blue collar" worker. This is not typical general advice about how to budget and save (zzzzz). This is specific, useful information and advice on the practicalities of credit, debt, home ownership, Social Security, car buying/leasing, education's relationship to career placement and earnings, insurance, banking, and choices in where to live and work to best suit your lifestyle. Some individual chapters are worth the price of the book all by themselves. Not only does the author tell exact how-tos, but he also teaches how to think about money and managing it. Another big plus: the author includes many references and URLs for further self-education and self-improvement in financial matters. I'm buying more copies as gifts for friends and relatives.

Read this and lower your blood pressure

Brock scores anther big hit. The data he provides on salaries versus cost of living around the country are invaluabnle. Required reading for anyone who wants to lower his or her anxiety level about spending and saving. The chapter on how little things add up is especially enlightening, and the chapter on education costs is a real eye opener.