A helpful introductory guide to financial planning for singles and families looking to get the most out of their money.
A realistic, detailed guide to planning for your financial future.
Warshauer was a small business forecaster by trade, skilled at incorporating the myriad of financial factors that make up the universe of a small company and projecting their expenses and profitability. In a burst of insight, he decided to apply those same methods on a more intimate scale. He has thus come up with an excellent set of guidelines in the hopes of ensuring a stable financial future for individuals and families. The plan—five big steps composed of 18 smaller steps—is very sensible, and each bears Warshauer’s hallmark: accounting for the different life goals that each person or family will have. He begins by explaining how much of our net income should be saved, spent on homes and auto, and even spent on clothing. He provides a numerical guideline for each area, insisting that if spending in one category goes up, it must drop in other areas. These short-term goals segue into long-term planning, such as the decision to save for public school versus private, and how to understand how much each family will need for retirement. These insights take the book one step deeper than the average financial-planning instructional. The book is also unique in that Warshauer presents the rules for financial success in the form of a story. Joe, one of the main protagonists, is a generic young adult who spends more than he’s earning, and thus decides to attend one of the author’s financial seminars. Other characters include single mothers and young parents. The fiction structure is loose, basically just a tool to help the author dispense his financial rules in a way that keeps readers engaged. Naturally, the dialogue itself tends to get tedious, as seminar attendees ask dry questions about finance, but on the whole it’s more readable than a strictly nonfiction manual.
A helpful introductory guide to financial planning for singles and families looking to get the most out of their money.Pub Date: Aug. 2, 2010
ISBN: 978-0984493746
Page Count: 279
Publisher: N/A
Review Posted Online: Sept. 7, 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
BOOK REVIEW
IN THE NEWS
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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