Books2Wealth - Creating True Wealth - 2010 - Feb 19

Two Books Everyone Should Read

You must attain control over two aspects of everything you set out to do to be successful: the plan and getting it done. Sometimes this is called Planning and Execution. Here are two books that anyone serious bout commanding these two elements in their pursuit of success should read and study and put into practice:

The plan - Brian Tracy's Goals! How to Get Everything You Want Faster Than You Ever Thought Possible.

Execution - David Allen's Getting Things Done.

We reviewed Getting Things Done in a previous issue here and will review Tracy's books on goals in the coming weeks. If you have ever had difficulty setting goals or breaking your big goal or vision into parts that you can actually get done or if you have ever had problems getting what you set out to do done, these books are great.

Wishing you prosperity and success.

Daniel R. Murphy

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Blog: http://books2wealth.blogspot.com/

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Inspiration in a few words:
Your own need to be shines out of any dream or creating you imagine. - James Earl Jones

Featured Book Review
Title and Author: The Smartest Investment Book You'll Ever Read by Daniel R. Solin

Synopsis of Content:

Daniel R. Solin is a leading securities arbitration lawyer and a registered Investment Adviser. He has testified before Congress and appeared on major television business news magazines. He wrote a small book (154 pages not including appendices) to demystify the world of investment for the ordinary person. He called this little book The Smartest Investment Book You'll Ever Read (The Simple, Stress-free Way to Reach Your Investment Goals.)

This book may well not be the final word on investing. You may well read others. You may well decide to place your money in the hands of a professional investment advisor or at least seek their advice. However, you can learn a great deal from Solin's little book and you will learn how much you can actually do without an investment advisor or broker.

Solin tells us that investing need not be complicated or stressful. In fact he emphasizes that it should not be stressful. He points out some of the fallacies about brokers, advisors and others who are supposed to "help" you with your investments. He teaches you what is wrong with hyperactive investing, that no one can actually time the market and that no one, and he means no one, can consistently beat the market.

Solin teaches the risk and reward formula you should use. He warns you about B and C shares, house funds, margin, and hedge funds.

Then he tells you what a smart investor should know. He first establishes his own credibility - he tells you why you should follow his advice. He then lists the institutional investors who follow his theory on smart investing.

After all of this preparation he gets to the good part. In about 50 pages he teaches you a four step process to beat 95% of the "pros" and become a smart investor. He teaches you how to determine the asset allocation that is right for you. He tells you which Fund Family to open an account with and how to select your investments. He teaches how and when to rebalance your portfolio. After a few more tricks and tips he tells you to do it.

Solin does not just make all this up. His book is carefully footnoted and he gives sources for his information.

I am not an investment specialist. I am not an investment advisor. And it is because of this that I liked this book so much. Solin tells you what you need to know to go forward with some confidence even while you continue to educate yourself further about investing.

Everyone has to start somewhere. I have looked at a good number of introductory guides and books on investing and none are as good as this one. It is easy to understand and it seems to be sound as a dollar - perhaps more so these days.

Solin tells us that no one will consider the investment of your money as seriously and as important as you will. He teaches you the basic principles you need to know to launch your investment boat and get your feet wet with minimal risk.

For the average investor who does not have expertise in this area this book is a great place to start.

Perhaps the best that can be said about his book is on the cover from various experts in the field and others who should know a good thing when they see it, including Larry Swedroe of Buckingham Asset Management, Inc., William Bernstein, author of The Four Pillars of Investing, Mark T. Hebner, financial author and expert, and others. They all endorse this book which Bernstein calls "a little gem".

This book retails in hard cover for $19.95 - it may well be the best investment you ever make.

Readability/Writing Quality:
Solin's writing style is easy to follow. This little book is written in plain English - a delight for anyone who has been overwhelmed by financial lingo.

Notes on Author:
Daniel R. Solin is a leading securities arbitration lawyer and a registered Investment Advisor. He has testified before Congress and appeared on major television business news magazines.

Related Website:
The author has a blog on Amazon at: http://www.amazon.com/gp/blog/A1M4WTCFNTDNRG

He works with Index Fund Advisors at:
http://ifa.com/aboutus/?gclid=CI-j5o2Gnp8CFSIjagodARezig#dan

Three Great Ideas You Can Use:
1. Determine your asset allocation - Solin gives you tips on how to do it.

2. Open and account with one of the solid Fund Families that Solin tells you about.

3. Select your investments - again Solin gives the tips.

4. OK, there are four, not three - Rebalance your portfolio. None of this is new or revolutionary - it should not be - it is solid education for most of us out there who do not know what we are doing in the investment world.

Perhaps most important Solin talks to us in this book about what to and what not to expect in fund managers and investment advisors. He commits the heresy of telling you that you can do it yourself and how to do it!

Publication Information:
The Smartest Investment Book You'll Every Read by Daniel R. Solin
© 2006 by Daniel R. Solin

Rating for this Book:
Overall Rating:          Excellent
Writing Style:            Very Easy to Read
Application:               Highly relevant and applicable for      anyone with two nickels to rub together
Technical Difficulty: Easy-Moderate

Be Inspired II by Roger Thomas Lincoln

When his first play debuted the producers came out on stage afterward and apologized to the audience for it. More failures followed. His agent gave him a script assignment from MGM to write Marriage is a Private Affair. He rejected it and wrote his own play called The Gentlemen Caller. The studio rejected his play. But he scraped together support and produced it independently as The Glass Menagerie in Chicago. Although the producers threatened to end the play early it continued and eventually won a New York Drama Critics Circle Award as best play of the season.

This was the beginning of a very successful run of plays for Tennessee Williams. A Street Car Named Desire followed earning him a Pulitzer Prize. Another Pulitzer was awarded in 1955 for Hot Cat on a Tin Roof. He was inducted into the Theater Hall of Fame in 1979.

Williams later said he was glad that his first play failed so badly and that he endured the humiliation of the apology on stage. He thought that had the first play been a success it would have gone to his head and he would not have learned all he did about writing.

"Success is blocked by concentrating on it and planning for it . . . Success is shy - it won't come out while you're watching. - Tennessee Williams

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