Motley
Fool's What To Do With Your Money Now
©
Money Magic, Inc. 12/15/01
Saturday Daybreak KATV, Chn. 7
Mary Ann Campbell, CFP
Motley
Fool’s What to do with Your Money Now
By David and Tom Gardner
Simon and Schuster, $23.00
Ten
Steps to Staying Up in a Down market
Also available on Audio CD
Simon and Schuster, $20.00
I’ve
long been a “Fool Fan” because of brothers David and
Tom Gardner’s online presence and commitment to financial
education. My university students dig their “foolish”
style. Check out their website at:
www.fool.com
David
and Tom cofounded The Motley Fool, a multimedia financial education
company in 1993. They’ve written several best selling books,
oversee their Web site, write a syndicated newspaper column, and
host a weekly radio program on NPR.
This book
answers the current questions most of have…what to do with
our money now. The Gardners offer a snapshot view of the business
and money world in early 2002. They take us through the rise and
fall for the American markets and economy, offer lessons to act
upon now, and provide a look ahead to the future. It is filled
with important investment advice on lessons learned such as:
1. We
will not be impatient
2. We
will play our game
3. We
will give profitability its due respect
4. We
will not pursue growth at any cost, and
5. We
will recognize and correct our own errors
Their
ten steps to the Ideal Financial You include:
1. The
Financial Plan: write down goals, list & rank, create a
budget, review
2. Getting
Rid of that Debt: Set target date, plan payoff order, credit
report
3. Pad
Yourself with Cash: start saving, open right account
4. Life
Insurance: calculate policy amount, buy that insurance
5. Make
a Will: prepare and execute
6. Disability
Insurance: get with your employer first
7. Open
a Roth IRA: max your contributions
8. Liability
Insurance: review existing, get more coverage as needed
9. Living
Will: talk over the decision with your family
10.
Durable Power of Attorney AND Medical Power of Attorney: talk
over with your family.
