The Lies About Money: Why You Need to Own the Portfolio of the Future by Ric Edelman is a finance book offering insights to investors. These investors are not “sharks” but shmos like me, just trying to make it to the end of the day with enough money for a slice of pizza and a bottle of beer.

I started reading many books about finance, they’re usually a quick read (but packed with information) and an easy one because they mostly repeat each other. But I always pick up a few nuggets I didn’t know, or most likely forgot.

I’m not trying to be a financial professional by any means, but I’m just hoping to educate myself on the subject enough to either make informed decisions, or enough to ask the right questions when opportunities present themselves.

The Lies About Money: Why You Need to Own the Portfolio of the Future by Ric Edelman covers many topics, many of which I read about, but all of them I was happy to revisit. Some of the more valuable information I got from the book was regarding myths about retiring, and investment strategies (Mr. Edelman believes in long-term investments and after reading several books on the subject, I tend to agree when it comes to my goals).

I’m a “lazy” investor and do not have much to invest with, so I like to make good choices when I can, especially in light of the many, many, many bad choices I had previously made (which will most likely never allow me to retire – ever). I’m always weary about people trying to separate me from my hard earned money, whether they’d be sleazy con-artists costumed as professionals, or simply incompetent professionals.
It doesn’t matter though, the outcome would still be the same.

I read these books not only for my own knowledge, but to pass it down to my young children. I want to get them in the mindset of working hard, saving, and understanding how money grows before it’s too late.
Sadly, from personal experience.

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The author covers a lot of ground in a book that probes everything from myths about retirement, to the pros and cons of variable annuities. One prominent theme espoused by Edelman as he discusses successful long-term investment strategies is this catchy saying: “it’s not about timing. It’s all about time-in.” In other words, the author recommends a buy-and-hold strategy as opposed to trying to time the markets. He offers sobering data to bolster his position that if an investor misses even a handful of the markets’ best days over a period of years, returns can suffer enormously. The book is “dense” in some spots, a fact that the author readily admits. But overall, it’s an excellent read for folks who are eager to create wealth with an investment strategy that champions common sense and discipline over hot stock tips. ( )