Tax Saving Strategies and Outsmarting the System – A Book Review

Outsmarting the System

One of the principles I preach here on My Money Design about building your wealth is to find smart ways to KEEP more of what you earn.  And in no other way can you accomplish this more than by using the right tax saving strategies to help avoid paying more than you have to. I say that because taxes are something that eats into your finances no matter how low or high your income is.  In fact the more money you make, the worse your tax bill becomes because it scales upward with your earnings to the point where it could potentially be one of the largest expenses you have. But with the right tax planning strategies it doesn’t have to be this way.  There are many ways to lower your tax bill that you probably either don’t use or simply … [Read more...]

How to Find Good Cheap Stocks to Invest In – A Book Review

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I think all of us at one time or another imagine ourselves doing it – buying that one stock that doubles or even grows by ten times its own share price.  Even though we know the right thing to do is to follow conventional advice and only investing in large, high-quality companies, what if we’re missing out?  What if there truly are some good cheap stocks to invest in where you could quickly multiple your money within a year? That might sound crazy, but you have to remember:  All large companies were just small stocks at one time or another.  At some point they experienced a period of explosive growth, and someone became rich as a result!  Why can’t that someone be you? This subject is exactly the premise of a book I recently finished … [Read more...]

Book Review: The Smartest Retirement Book You’ll Ever Read by Daniel R. Solin

Sometimes when it comes to financial advice, you don’t want a lot of fluff. You just want someone to tell you like it is – straight and to the point. Not a whole bunch of “maybe this, maybe that”. That aspect is what I loved about the Smartest Retirement Book You’ll Ever Read by Daniel R. Solin - definitive and conscience advice! So far I’ve already written two separate posts highlighting pieces of advice in this book. But there’s actually a lot more to it. Solin has JAMMED PACKED this book full of useful knowledge. The information it contains could be appreciated by both newbies as well as intermediate/advanced investors. Here’s some of the more important tidbits you can take away from The Smartest Retirement Book:   … [Read more...]

Book Review: “Dividends Still Don’t Lie” by Kelley Wright

Dividends Still Dont Lie Graph 01

If non-fiction books had sequels, this would be one of them. Over almost 20 years after the release of the original classic "Dividends Don't Lie" by Geraldine Weiss, author Kelley Wright breathes life into the subject once again with his version "Dividends Still Don't Lie: The Truth About Investing in Blue Chip Stocks and Winning in the Stock Market". The main theme of the book is that a stock’s dividend yield is the best indicator of its value and ultimately the right time to buy. Building upon “The Dividend-Yield Theory” presented in the first book, Kelley reviews and updates this theory using new and recent data. The book then goes on to explain how this theory can be applied by individual investors. … [Read more...]

Book Review: “Higher Returns from Safe Investments” by Marvin Appel

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This isn’t another book of “buy a bunch of stocks, hold them for 30 years, and hope for the best” type of investment advice. “Higher Returns from Safe Investments: Using Bonds, Stocks, and Options to Generate Lifetime Income” by Marvin Appel delivers an alternative perspective on the risks and returns from other types of investments; namely bonds. However, he doesn’t just stop there. The book also covers a broad range of other under-appreciated investments such as high-dividend stocks, preferred stocks, and covered call options. I’ll be the first to admit: There is nothing sexy about reading a book about bonds. But after experiencing the evaporation of money during the Great Recession of 2008, I think a book with this sort of title … [Read more...]

Book Review: “The Little Book of Big Dividends” by Charles B. Carlson

The Little Book of Big Dividends

If you think that putting your money into bonds or CD’s is the only way to hedge against the roller-coaster ride of the stock market, think again! Author Charles Carlson demonstrates that an age old benefit of owning stocks called “dividends” can be used to create a stream of income and protect against market conditions. Right now if you asking yourself “what is a dividend?”, then this is the right book for you. “The Little Book of Big Dividends” is a great introduction for anyone looking to get acquainted with dividends and how they relate to stocks. The material is easy to read and it is not overly equation-heavy (except for the Appendix) or preachy on risky investments. In fact, Carlson’s advice is very modest and follows the lines of … [Read more...]

Book Review: “The Big Secret for the Small Investor” by Joel Greenblatt

The Big Secret for the Small Investor

Click the image to visit Amazon.comPersonality. Sarcasm. Normally I don’t use entertaining words to describe personal finance books, but this one embodies those qualities. In this very brief read by Joel Greenblatt (an investment company owner and professor at the Columbia Business School), Greenblatt colorfully lays out his arguments and foundation for his two part (A and B) investment plan which he refers to as his “Big Secret”. … [Read more...]