As an abbreviated guide, Mosier’s work won’t replace a more comprehensive discussion of the necessary financial preparations...
A solid overview of financial strategies for retirement.
The U.S. Census tells us that the first of some 80 million baby boomers will reach age 65 in 2011. While this has traditionally been the retirement age, economic conditions have forced many to delay the end of their working years. Nonetheless, a steady stream of books about financial planning for retirement continues to be published in an effort to prepare these boomers for their “golden years.” Mosier’s offering could be viewed as just another standard how-to book, but this short work does an admirable job of handling the topic, due in large part to the way it is written. The author, who has over 30 years of experience in financial services, knows how to distill a lot of investment talk down to the basics. She spends time discussing such key issues as the amount of risk an investor can tolerate and the need to diversify. Ordinarily, this would be financial advice available anywhere, but Mosier serves it up authoritatively, combining a serious explanation with a light touch of informality to achieve the right balance. She also includes just enough statistics to support the text. Similarly, Mosier covers the three major investment vehicles—equities, fixed-income and cash—in clear, simple language. Mosier includes chapters on mutual funds, asset allocation and global investing—an area of particular importance these days. She addresses other financial life needs that one must consider, such as funding a child’s college education. Finally, Mosier advises readers to make use of the investment research firm Morningstar, and to seriously think about consulting with a financial planner. She closes the book with a Resources section that helpfully includes both online and offline sources of information (for those not comfortable navigating the Internet) and a handy glossary.
As an abbreviated guide, Mosier’s work won’t replace a more comprehensive discussion of the necessary financial preparations for retirement, but it’s an excellent starting point.Pub Date: Sept. 7, 2010
ISBN: 978-1452056760
Page Count: 164
Publisher: AuthorHouse
Review Posted Online: Oct. 25, 2010
Review Program: Kirkus Indie
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
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A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.
A well-constructed critique of an economic system that, by the author’s account, is a driver of the world’s destruction.
Harvard Business School professor Henderson vigorously questions the bromide that “management’s only duty is to maximize shareholder value,” a notion advanced by Milton Friedman and accepted uncritically in business schools ever since. By that logic, writes the author, there is no reason why corporations should not fish out the oceans, raise drug prices, militate against public education (since it costs tax money), and otherwise behave ruinously and anti-socially. Many do, even though an alternative theory of business organization argues that corporations and society should enjoy a symbiotic relationship of mutual benefit, which includes corporate investment in what economists call public goods. Given that the history of humankind is “the story of our increasing ability to cooperate at larger and larger scales,” one would hope that in the face of environmental degradation and other threats, we might adopt the symbiotic model rather than the winner-take-all one. Problems abound, of course, including that of the “free rider,” the corporation that takes the benefits from collaborative agreements but does none of the work. Henderson examines case studies such as a large food company that emphasized environmentally responsible production and in turn built “purpose-led, sustainable living brands” and otherwise led the way in increasing shareholder value by reducing risk while building demand. The author argues that the “short-termism” that dominates corporate thinking needs to be adjusted to a longer view even though the larger problem might be better characterized as “failure of information.” Henderson closes with a set of prescriptions for bringing a more equitable economics to the personal level, one that, among other things, asks us to step outside routine—eat less meat, drive less—and become active in forcing corporations (and politicians) to be better citizens.
A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.Pub Date: May 1, 2020
ISBN: 978-1-5417-3015-1
Page Count: 336
Publisher: PublicAffairs
Review Posted Online: Feb. 16, 2020
Kirkus Reviews Issue: March 15, 2020
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