Introduction Americans work hard. On average we log 7.6 hours each working day5, with many of us amassing far more hours to meet our current needs and secure our retirement. We are dedicated to our work and to saving for our â€œgolden years.â€? Rarely in the course of this frenetic pace do we stop to learn how to properly invest our savings so they can best work for us. I was one of those people. I was fortunate enough to start a successful company right after I graduated from college. I was thirty-two years old when I sold that company, and I walked away with a nice sum of money. Without giving it a second thought, I deposited that money with a big-name brokerage firm. They seemed to be looking out for my best interest and competent enough to grow my wealth through their stockpicking prowess. They had offices in high-rise towers. They had well-dressed analysts and impressive looking reports. I was confident they would effectively put my money to work for me. Twelve years later, I woke up to the ugly truth that my confidence in that brokerage firm was unfounded, and my time spent trying to beat the market had been wasted. Until that time, I believed the financial success of Wall Street brokerage firms was the result of creating wealth for their clients. I learned too late that brokerage firms did not get rich by enhancing their clientsâ€™ wealth, but rather (and ironically) by depleting it, transferring it slowly to their pockets in the
Published on Jun 1, 2015
This book reveals the potential land mines and pitfalls of active investing and educates readers on the benefits of passive investing with i...