Customer Reviews:
Good book for non-legal types.......2003-09-17
This is a really good book for a Net Admin such as myself. It explains all the legalese very well and I don't see any aspect of policy that it doesn't touch on. There are lots of great quotes you can put into your own policy document.
The one complaint I read about it being "thin", is somewhat accurate. It's less than 150 pages, but there is a lot great information in those pages. My only complaint is that you will have to type all of the policies into your own document. They are not provided electronically. Add a CD to the book, or a web site where the samples can be downloaded and I'd give 5-stars.
Very Concise and Easy to Follow.......2001-12-28
I like this book. It is very readable, concise, practical and easy to follow. The author has done an excellent work to put this vast field of legal and technical knowlege into a very readable form for average reader in business and management.
10,000 foot view only.......2000-01-04
This is a very general, high level view. Very thin book. Not a lot of meat.
For every CIO, VP, IT's & VP, HR's bookshelf. Recommended........1999-03-20
Provides guidelines for developing policy governing the use of computers, e-mail and the internet. Focuses on reducing legal liability, protecting confidential, proprietary information, and guarding against the waste of information technology resources. Filled with many examples of policies. Includes text of selected laws and regulations and a useful index of sample clauses. Should be on every CIO's, VP, IT and VP, HR's bookshelf. Recommended.
Well worth the money!.......1999-02-09
It's written for the lay person who needs to formulate IT policy. It gives both policy statement examples and background data to permit the reader to formulate policies to suit their business needs. It was exactly what I was looking for.
Average customer rating:
- Quite a reasonably good but not that exciting article on developing a strategist mindset!
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How to Develop the Mind of a Strategist
James E. Lukaszewski
Manufacturer: Lukaszewski Group
ProductGroup: Book
Binding: Paperback
 Leadership
| Management & Leadership
| Business & Investing
| Subjects
| Books
ASIN: 1883291348 |
Book Description
Strategy is one of the more mysterious areas of public relations practice. For many consultants and public relations practitioners being a strategist or a strategic advisor is considered to be the highest level professional practice activity. Merely using the adjective “strategic” or the noun “strategy” does not get one to the table where management objectives are debated and decisions made. In this monograph Mr. Lukaszewski discusses how the strategist develops a management-oriented mindset, behaviors, and attitudes that attract management attention.
Customer Reviews:
Quite a reasonably good but not that exciting article on developing a strategist mindset!.......2006-03-01
This is not a paperback book, but an article originally published in a strategic communications magazine.
The author, being a communications expert, certainly has the knack for telling stories, which he uses very well to illustrates some important aspects of developing the strategist mindset. Because of his professional background, he focuses too much on strategy as one of the important areas of public relations practice. Nevertheless, he does make very clear distinctions between the work of a manager and that of a strategist.
On the whole, the article is a reasonably good one, but not that exciting.
Average customer rating:
- A complete Guide to Wireless
- Wireless Pitfalls
- Wireless More than Just the Web
- Seeing Europe and Japan As The Future of Wireless!
- Fascinating Guide to the Wireless Web!
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The Wireless Web: How to Develop and Execute A Winning Wireless Strategy
Bryan Bergeron
Manufacturer: McGraw-Hill Companies
ProductGroup: Book
Binding: Hardcover
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ASIN: 0071373594 |
Book Description
Develop and execute winning wireless strategies for your company
Offering the prospect of instantaneous, cable-free Internet connectivity and an array of Web services to cell phones, handheld computers, and other mobile devices, wireless technology is already changing the way business is done, on and off the Web. If you're a non-technical executive or manager who needs to get up to speed as quickly as possible on this "next big thing" in the world of eCommerce, you need Bryan Bergeron's The Wireless Web. Writing from a business perspective, Bergeron fills you in on the key concepts and important technologies involved. You get a detailed look at the domestic wireless market as well as the European and Asian markets. Most importantly, he provides you with a complete blueprint for capitalizing on the new wave of eCommerce.
A companion Web site gives you updates and links to other sites offering the latest information on the state of wireless eCommerce
Download Description
Bryan Bergeron's The Wireless Web was written for non-technical executives and managers who need to get up to speed, as quickly as possible, on this "next big thing" in the world of eCommerce.
Customer Reviews:
A complete Guide to Wireless.......2001-08-16
In just a few years the Internet has revolutionized the way we do business. Email, online shopping and digital music downloaded from the Internet are now integral parts of our everyday lives. Technology aware companies have now turned to wireless web for the next big leap in commerce and communication. The race is on for deploying cutting-edge wireless technology.
As a business and technology consultant I am often asked by clients to provide some guidelines on how to proceed in this new and fast moving industry. Is trading stocks using a wireless PDA really a secure transaction and are electronic coupons delivered to customers via cell phones a technical feasible marketing solution? What communications provider should I use when connecting my sales force via WAP based browsers to a wireless CRM solution? And should we look to Europe and Japan for the future in wireless communication, or will it turn out to be another bursting bubble as we have experienced with too many dot.com business ventures?
"The Wireless Web", unlike so many other books covering technology topics, provides an easy to read and well-structured roadmap on how to develop a winning wireless strategy. Bergeron starts off explaining the history of this industry and it's economic drivers and then provides an overview of the current state of technologies, the various systems, protocols and technical standards used in the US and compares them to the more cohesive and further developed Japanese and European technologies. The latter part of the book focuses on the future, introducing the reader to opportunities and potential risks wireless technologies will offer as well as technical and political limitations it will face as this technology matures He closes with a well structured guideline on how to develop a wireless strategy of any scale.
In summary, this book will familiarize the reader with this new and dynamic industry and provide the knowledge required to develop, communicate, and execute a successful wireless strategy. Although written for the non-technical executive, I recommend this book to every one confronted with wireless technologies, the corporate executive implementing a wireless enterprise information portal as well as the cell phone user confronted with evaluating roaming charges, communication protocols and coverage areas when selecting a calling plan. This book definitely deserves a place on the bookshelf of any technologist.
Wireless Pitfalls.......2001-06-28
Wireless Web is a refreshing kind of book. I'm tired of books that introuduce a new technology, paint a rosy picture, and then leave the reader dangling three months later. This isn't one of those books. It tells it like it is. Wireless isn't easy. In fact, implementing a Wireless Web solution is nearly at the bleeding edge of what's possible, as the author states. There are traps at every corner, and you'd better know what to expect. In this respect, the Wireless Web provides a map of the "speed bumps" along the way. If you're going to give it a go on the Wireless Web, you'd better have this book or some other roadmap with you.
Wireless More than Just the Web.......2001-06-26
A good read. The title is a little misleading, however, because the book also covers wireless without the Web. In other words, peer to peer networks inside buildings, outside buildings, and to the home seem like the most promising aspects of the wireless revolution, as described in this book. As the author states, it's simply a matter of time, not if, wireless will touch every aspect of our lives.
Seeing Europe and Japan As The Future of Wireless!.......2001-06-12
Many people have been impressed by what they have seen of the new wireless services in Europe and Japan. Based on the promise of these offerings, wireless operators have spent billions of dollars for 3G licenses in Europe that will require tens of billions to implement. Based on the amount of money invested and planned for the next few years, it looks like the days of broadband wireless Internet are about to be with us. What should you be doing now? That's the question that this book addresses.
The Wireless Web is the best book I have seen for describing the background of how technology and customer needs are converging to provide new wireless offerings and the potential for new ways to solve problems. About two-thirds of the book is aimed at providing a layperson's description of technology, social, and governmental developments that will influence what will be offered by companies. The remaining third gives you a template for thinking about what these developments mean for your business. For most people now, that decision will relate to when to get involved.
In my consulting practice, it is clear that there are enormous opportunities now to develop intellectual property and new business models that can be implemented immediately. For those who mainly want to use the wireless web as an adjunct to their businesses, on the other hand, you have lots of time.
The best advice in the book is to be sure that you have the business processes in place that will allow you to connect wireless technology to your business when the rest of the infrastructure and equipment are in place.
Basically, wireless Internet connections will become more important as a disruptive technology than the land-wire connected Internet. By always having a device present (whether a cell phone, personal digital assistant, pager, or some new device), individuals will be able to simplify their lives while they are on the go or in any fixed location. As a result, transactions will be transformed. For example, food manufacturers may have to bid for a consumer's business while she or he is walking down the aisles of a supermarket.
For the first time, you will be able to shape the entire consumer or customer experience around what that person prefers. The potential for positive differentiation becomes enormous, as a result.
My main caution to you is that this field is rapidly changing. This information will become out-of-date rapidly. So read the book now if you are going to.
After you have considered some of the ways that the wireless Internet can improve your offerings, I suggest that you go back to the drawing boards to see how much of these changes you can offer now without broadband wireless connections. In this way, the wireless Internet can be a powerful metaphor now for improving your performance.
Be helpful . . . all the time and everywhere!
Fascinating Guide to the Wireless Web!.......2001-06-02
Having just put down Bergeron's last book, "The Eternal E-Customer", I was interested to see his visionary take on the wireless web. I wasn't disappointed. "The Wireless Web" compellingly captures the multitude of opportunities which the unethering of the Web affords. What I appreciated most about this book (and Bergeron's style as in his previous book) was the practical advice on how any executive can take advantage of these wireless opportunities. Bergeron succinctly explains how a company can embrace this new technology to their competitive advantage. Five stars!
Average customer rating:
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Develop an E-Business Strategy
Julie Doubinski
Manufacturer: Software Publications
ProductGroup: Book
Binding: Paperback
General
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MIS
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| Business & Investing
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Systems & Planning
| Management & Leadership
| Business & Investing
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Internet
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| Internet & Education
| Online Searching
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ASIN: 1741230136 |
Average customer rating:
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E-Mail Marketing Strategies to Develop Relationships with Online Customers
Yankee Group
Manufacturer: MarketResearch.com
ProductGroup: Book
Binding: Digital
General
| Marketing
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| By Publisher
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ASIN: B00005TWZB
Release Date: 2000-11-01 |
Book Description
No matter what industry a company is in, or how large it is, all companies are challenged with establishing ongoing relationships with their customers. One way to do this in the Internet age is to incorporate e-mail marketing into overall corporate marketing strategies. The opportunity to use e-mail to communicate with customers is appealing to companies because they can implement e-mail programs more quickly, cheaply, and efficiently than many other marketing channels. In addition, by using e-mail to reach customers, companies are selecting a method of communication that a vast majority of online consumers and business users are familiar with and use every day. In this Report, we provide our revenue forecast for outbound e-mail advertising in the United States. In addition, we discuss why so many companies are using e-mail marketing strategies to reach their customers, as well as describe the benefits for businesses that integrate e-mail marketing into their overall customer acquisition and retention strategies. Examples of how businesses are incorporating e-mail marketing into their daily activities are also discussed. Finally, we make predictions about what the future may hold for companies using e-mail marketing to reach their customers. An upcoming Yankee Group Report will delve into the different types of service providers participating in the e-mail marketing services arena.
Download Description
No matter what industry a company is in, or how large it is, all companies are challenged with establishing ongoing relationships with their customers. One way to do this in the Internet age is to incorporate e-mail marketing into overall corporate marketing strategies. The opportunity to use e-mail to communicate with customers is appealing to companies because they can implement e-mail programs more quickly, cheaply, and efficiently than many other marketing channels. In addition, by using e-mail to reach customers, companies are selecting a method of communication that a vast majority of online consumers and business users are familiar with and use every day. In this Report, we provide our revenue forecast for outbound e-mail advertising in the United States. In addition, we discuss why so many companies are using e-mail marketing strategies to reach their customers, as well as describe the benefits for businesses that integrate e-mail marketing into their overall customer acquisition and retention strategies. Examples of how businesses are incorporating e-mail marketing into their daily activities are also discussed. Finally, we make predictions about what the future may hold for companies using e-mail marketing to reach their customers. An upcoming Yankee Group Report will delve into the different types of service providers participating in the e-mail marketing services arena.
Average customer rating:
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How to develop an e-commerce strategy for your library: is there anything your library can sell online? If so, you can make a cash contribution to the ... An article from: Information Outlook
Lesley Ellen Harris
Manufacturer: Thomson Gale
ProductGroup: Book
Binding: Digital
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ASIN: B000O766HU
Release Date: 2007-03-09 |
Book Description
This digital document is an article from Information Outlook, published by Thomson Gale on January 1, 2007. The length of the article is 1225 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: How to develop an e-commerce strategy for your library: is there anything your library can sell online? If so, you can make a cash contribution to the bottom line.(INFO RIGHTS)
Author: Lesley Ellen Harris
Publication:
Information Outlook (Magazine/Journal)
Date: January 1, 2007
Publisher: Thomson Gale
Volume: 11
Issue: 1
Page: 36(2)
Distributed by Thomson Gale
Book Description
Oren Harari admits at the beginning of this article that he is "a bit wary of checklists," noting that they "can be dangerous if they oversimplify complex issues." But he assembled this three-part checklist (with dozens of cogent points) because checklists "can be useful when they help people focus their attention on the right things." Harari's checklist breaks into three major areas: (1) The Foundations of Market-Leading Value-Creating Strategy, (2) The Primary (Intangible) Assets for Market Leadership and Value Creation, and (3) The Implementation and Delivery of Market-Leading, Value-Creating Strategy. In each area, Harari provides points for business people to think about, discuss, and take action on. "True, the strategic imperatives necessary to run a corporation, a division, or a department differ in content, scope and reach," he says, "but at the core they remain basically the same." Thus, Harari's perceptive checklist is valuable for thinking about a business of any size. Oren Harari is the author of numerous best-selling books on strategic thinking and dynamic leadership. This e-Document is published by BrownHerron Publishing, with permission.
Download Description
Oren Harari admits at the beginning of this article that he is "a bit wary of checklists," noting that they "can be dangerous if they oversimplify complex issues." But he assembled this three-part checklist (with dozens of cogent points) because checklists "can be useful when they help people focus their attention on the right things." Harari's checklist breaks into three major areas: (1) The Foundations of Market-Leading Value-Creating Strategy, (2) The Primary (Intangible) Assets for Market Leadership and Value Creation, and (3) The Implementation and Delivery of Market-Leading, Value-Creating Strategy. In each area, Harari provides points for business people to think about, discuss, and take action on. "True, the strategic imperatives necessary to run a corporation, a division, or a department differ in content, scope and reach," he says, "but at the core they remain basically the same." Thus, Harari's perceptive checklist is valuable for thinking about a business of any size. Oren Harari is the author of numerous best-selling books on strategic thinking and dynamic leadership. This e-Document is published by BrownHerron Publishing, with permission.
Amazon.com
Contrary to popular belief, most Americans' largest purchase is not their home. It is their mortgage, since the interest paid over the life of a home loan is usually more than the price of the home itself. And selecting a mortgage can be even more confusing that choosing a home. The fourth edition of The Mortgage Kit explains the intricacies of all the latest financing options in great detail. This can be heavy going, but worthwhile. Author Thomas C. Steinmetz notes that mortgage costs vary widely from lender to lender. Thousands of dollars may be saved by knowing how to compare rates, discount points, and fees to find the best buy. --Barry Mitzman
Book Description
Saving money. It’s what home loan shopping is all about. And nothing helps you save money and secure the best deal like The Mortgage Kit. By guiding you through the entire mortgage process—from applying to refinancing—this proven bestseller is your one-stop mortgage guide.
Bursting with Internet information designed to put you in the driver’s seat, The Mortgage Kit includes an all-new, time-saving Internet resource guide, advice on applying for a mortgage on the Internet, and tips on finding a lender online. And, The Mortgage Kit is packed with hands-on charts, graphs, and worksheets that have helped tens of thousands of homebuyers successfully navigate the mortgage maze. Mortgage guru Thomas Steinmetz leaves no stone unturned by revealing:
-Money-saving strategies for applying for a mortgage
-Tips on handling problems that may affect mortgage qualification
-Strategies on comparison mortgage shopping
-The ins and outs of reverse mortgages
Customer Reviews:
Very helpful.......2000-10-06
This book is great for your average Joe who is planning to buy or refinance a home. It is written in simple English with a minimum amount of technical language. As a first time home buyer looking to educate myself, I found it very helpful.
No that Bad.......2000-04-06
If only for the calculators and the formulas you should pick this book up. Of all the mortgage books I've read this one has the best charts, calculators. etc. to help you figure out what you can afford and how much your monthly bill will be. It also has an incredible formula to help you compare the many fixed rates that you will be bombarded with. So if you are receiving rates of 7, 7.5, 8 3/8 plus 1, 1 1/2 and 2 points you will be able to calculate the APR for EACH of these different fixed rates. No book that I have read has included such a formula. The book paid for itself just because of this one item.
Mortgage Kit provides insight in a way you can understand.......1999-12-05
Most books about mortgages quickly lose your attention because they are written in a way that only insiders can understand. This book explains the process in a way most people can comprehend.
I used this book to train myself when I got into the mortgage industry. As a manager in a mortgage company, I use this book as a training tool for mortgage loan officers, so they learn to describe the process and loan programs in a way that the general public can understand.
The Mortgage Kit provides a detailed explanation of the entire mortgage process in every day language. It provides great inside tips for consumers about all different aspects of getting a mortgage. Including how to know whether or not your mortgage lender is treating you fairly, and important insights that will protect you from being taken for a ride.
All of the important basics are covered; from what your lender will look at when deciding whether or not to approve your loan, to the paperwork you need to pull together before going to apply for a loan and choosing the best mortgage program for your own needs.
The book is well organized in its layout. It is educational if you read it cover to cover. But more importantly, it's laidout in a way that allows you to find the topics you have questions about easily, so you can focus on learning the answers to them.
Book Description
This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on October 1, 1999. The length of the article is 5919 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: BULLISH on GROWTH.(Kit Sumner, new president of the Mortgage Bankers Association)
Author: Janet Reilley Hewitt
Publication:
Mortgage Banking (Magazine/Journal)
Date: October 1, 1999
Publisher: Mortgage Bankers Association of America
Volume: 60
Issue: 1
Page: 100
Distributed by Thomson Gale
Book Description
This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on September 1, 1998. The length of the article is 3656 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Creating a new MBA. (interview with Kit Sumner, CEO of CrossLand Mortgage and vice president of Mortgage Bankers Association of America)(includes related article on the Strategic Plan approved by the MBA Board of Governors)(Interview)
Publication:
Mortgage Banking (Magazine/Journal)
Date: September 1, 1998
Publisher: Mortgage Bankers Association of America
Volume: v58
Issue: n12
Page: p82(6)
Article Type: Interview
Distributed by Thomson Gale
Book Description
This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on March 1, 1998. The length of the article is 861 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: The Home Buyer's Kit, 4th ed. (book reviews)
Author: Dona DeZube
Publication:
Mortgage Banking (Magazine/Journal)
Date: March 1, 1998
Publisher: Mortgage Bankers Association of America
Volume: v58
Issue: n6
Page: p116(2)
Article Type: Book Review
Distributed by Thomson Gale
Book Description
From financial expert Douglas R. Andrew comes an extraordinary book that challenges the most basic and fundamental concepts of personal investing in a user-friendly format.In the 30 years Douglas R.Andrew has worked as a successful financial analyst, lecturer, and retirement consultant, he has routinely questioned and challenged the accepted tenets of personal finance. His conclusions are absolutely startling. In 23 informative chapters, Andrew reveals his no-nonsense, yet unconventional, financial growth strategies that challenge widespread money myths and make his clients rich with advice like: * You shouldn't pre-pay your mortgage* Don't expect your 401Ks and IRAs to cover retirement* You can (and should) buy a home with no money down* and more!Originally self-published as MISSED FORTUNE (Paramount Publications, 7/03) and targeted towards a more professional financial audience, the first edition of this book sold 10,000 copies. In 4/04, it was published in Warner Business Books trade paperback (0-446-69350-2). This new hardcover edition has been significantly condensed to appeal to the average personal investor.
Customer Reviews:
Very educational--dispels a lot of finance misconceptions.......2007-10-10
Go pick up it up and read the whole book. It will open up your eyes on what finances are all about, and dispels many myths about money, taxes, and retirement planning. In fact, insist that your CPA, financial planner, insurance agent and estate attorney read it too.
Extremely interesting.......2007-10-10
I'm probably your typical Joe American with a marraige, kids, a house, car, etc. As I'm getting older I'm thinking more about running my personal finances like a business. I've reduced expenses significantly (no downsizing the family yet, though sometimes I could deal without the kids for a couple days! haha) and have tried to maximize idle money and active investments. Basic stuff I've done without professional help.
I've highly recommended this book to friends and family if for no other reason that it's includes a bunch of real thought-inducing topics that go against conventional financial wisdom. Namely to throw cash at your house to pay it off as fast as possible which truly does sound like a grand plan, but after reading the book sounds downright stupid.
Things I've taken away after reading this book:
* Deductible interest is good, at least when compared to non-deductible. No duh. But I never really thought it through to the ends.
* Your house will either appreciate or depreciate regardless of your mortgage rate, your monthly mortgage payment, or how much equity you invest into the house. If your house is worth $100K today and $110K tomorrow you gained $10K in equity. But it would've done that regardless of your mortgage.
* Money makes money. Pretty basic concept. But your money makes money a lot faster outside of being invested in your home equity which is what you're doing sending an extra $200/mo to your mortgage holder. That's $200/mo your throwing into a non-interest bearing account. Doesn't sound so smart now does it?
* There's a variety of retirement savings vehicles available outside the standard 401K and IRA. Well, obviously. But the book goes into depth on the advantages and disadvantages of them.
* One big thing the book pushes is Universal Life Insurance as the retirement vehicle of choice. There's a lot of agreeable arguments made towards this choice but there's no specific plans referenced and I haven't checked into the actual numbers to see if they stack up. But the overall theory seems pretty sounds. You throw your money into the policy, it compounds tax free, and you can withdraw it via loans tax free. People will argue that the policy costs money to run, and you have to pay a marginal interest rate against the loan, but you're still saving a TON via the tax savings which is the general argument for this policy.
I'm not saying I'm on board 100% with all the arguments made in the book. But many of them seem completely reasonable and logical. Pay $20K down on your house to save $100/mo in mortgage? Or take the $20K and invest it? It'll make $100/mo today in a 5% CD. And it compounds and thus makes more and more each month. And even more if the investment churns out more than 5%. And your house equity will likely increase regardless as housing values typically increase historically and will do so regardless of your mortgage.
Unlike some advisors Mr. Andrew walks his talk! .......2007-10-02
I have had the occasion to meet Douglas Andrew and he is his own biggest client. He seems to be one of the most straight forward, straight shooting people I have ever met. I was a stock broker with my insurance license, a mortgage wholesale rep, as well as a real estate broker and I have to say the strategies that are espoused in this book are all... right on! Hey, nothing is completely risk free but this comes close. I took my own home equity out [by selling my home] before the prices went down. I am glad I did. Most of it I will put into this strategy over the next 4 years and some will be saved for a down payment when I think housing prices have bottomed. When that home goes up I will take the equity out and start another plan like this. It makes little if any sense to have your home equity sitting there doing nothing. I mean would I leave $100K or more sitting in my checking account, earning zip? NOT! Well money that was sitting in my own home was making me nothing. It's the same to me. Hey, if I can borrow at a simple interest rate and have it accumulate and grow [even tax favored maybe] and compound over time into a large sum, I am all for it. The idea of using home equity to grow wealth is not new but until now I have never seen a strategy that I was comfortable with. This book turns life insurance upside down and shows us how to maximum fund a contract and therefore use it as a great 'living' benefit rather than buy the most death benefit for the least amount of money and possibly outlive the insurance just when we are nearing the 'benefit', if you want call it that, since one has to die to get it. But let's face it, we all need life insurance and I know no better way to have it. The way Mr. Andrew explains it, if structured properly Uncle Sam is paying for it. The strategies in this book are varied and flexible. He also shows us how our qualified plans [401K, IRA, 403b, etc] may very well not be serving our best interest. This book is a must read for anyone that is willing to think for themselves [outside the box] and especially if you have been around long enough to understand what Douglas Andrew means when he says 'sometimes it's what we don't know that we don't know that can hurt us.'
Please be careful..........2007-10-02
I think I would sign up for this if I had a lot of money and have as a small part of my portfolio - but for the most of us this would mean putting all our eggs in one basket, and not be able to take them out again.
I had 2 telephone appointments with the author's son contemplating signing up with their method. I expressed our concerns about our liquidity if another disaster of some sort happens. When 9/11 happened our income went down significantly for 1-2 years afterwards, and if it happened again we would not be able to pay the much higher mortgage we would have if we re-financed according to his plan. He swiftly explained that we would just file for bankruptcy(!). We have worked hard for ten long years putting our sweat equity into making our little house our dream home that we never want to leave - you can't buy a view like ours for a mortgage of $800/month anymore - why would we want to gamble with that?? The negative amortization loan he suggested would easily be covered by the continually rising house values here in Southern California, he explained. I protested that nothing can keep going up and up forever, and I didn't want to sit with an upside-down situation in my house at re-finance time. He didn't agree - just look at history he said - it keeps going up! Fast forward a few weeks and the whole foreclosure heaven came down, and our house is worth a good $100.000 less than just a year before...
Boy are we happy we didn't put blinders on and get too gullable!
We will find another way to provide for our retirement, thanks.
Also his projections of payouts in retirement are not adjusted for inflation so it really doesn't tell you much. $70k might sound like enough today but what will it be in 30 years...?
Please look into your options, consult a few traditional financial planners and ask them to explain the differences and in particular the high fees associated with this method. We found out that we'd be pretty well off just by investing the difference between our current mortgage payment and the one we would have re-financed to. Also have an equity line on your house and you will have the liquidity the book tells you you can't have unless you go with their method.
Utter Garbage.......2007-10-01
Every flimflam man knows that the con must be carefully layered around a kernel of truth for credibility. Missed Fortune 101 by Doug Andrew succeeds in this by wrapping a number of preposterous ideas and prevarications around three basic and true axioms. They are: (1) income is taxed in what are essentially "chunks," (2) the only relevant tax rate for decision making is the marginal rate, and (3) tremendous wealth can be created by borrowing at one rate and investing at a higher rate. Everything else in this book is not only utter nonsense, but potentially lethal to one's financial health.
The author arrives at two basic conclusions. We should borrow out of our homes and invest the proceeds at a higher rate. Universal life insurance serves as Andrew's means to this end. We should also suffer the consequences of withdrawing from our IRAs and other retirement plans now rather than later, since the tax from such withdrawals will only get worse. Naturally, the leftover funds (heavily diluted by taxes) should be invested in the same insurance policies, which supposedly offer a higher--and safer--yield than whatever the retirement plans were invested in. By page 5, I realize I'm reading a book-length sales pitch and con that has the potential to wreak havoc in my clients' lives (disclosure: I've been an Enrolled Agent tax professional and Certified Financial Planner licensee for almost three decades).
Anything this full of nonsense is difficult to critique. Short of writing a book-length retort, I've settled on the idea of listing the multitude of problems by category and providing examples from each.
A far more comprehensive review is available at my personal sites; just Google my name to find me. This is an abstract from that review. Serious readers will want to check out my books to see what links may exist between financial abuse and the field of addiction. You may wish to start with Drunks, Drugs & Debits: How to Recognize Addicts and Avoid Financial Abuse or Alcoholism Myths and Realities: Removing the Stigma of Society's most Destructive Disease.
Highly misleading examples
(2) "A $6,000 interest expense deduction on an itemized tax return has the same impact as a $6,000 qualified plan contribution. They are simply reflected in different sections of the return." Aside from numerous other issues, the tax savings from the interest deduction may be zero if you don't already itemize deductions.
(3) He implies that ordinary investors can double their money for 20 periods by comparing one dollar pre-tax and one dollar taxed-as-earned, doubling each "period" for 20 such "periods." The number of humans who have done this or something equivalent numbers perhaps a few thousand, which wasn't accomplished by investing in insurance contracts.
Faulty and twisted logic
(4) "...Your home may likely sell much more quickly and for a higher price with a high mortgage balance rather than a low mortgage balance." What the heck does the balance on my mortgage have to do with what a buyer is willing to pay me for my house?
Broad, sweeping and misleading generalizations
(2) Andrew advises that we all sell our homes and repurchase with 100% financing with the goal of freeing up equity to invest in his recommended universal life policies. He ignores the higher interest and property mortgage insurance costs on such loans, overlooks possible increased property taxes and disregards fixed transaction and moving costs.
(4) "Unfortunately, non-spouse heirs far too often end up with only about 28 percent of the money that was left in their parents' IRAs and 401(k)s." This is scare-mongering.
Questionable predictions and grand assumptions
(3) "Conservatively, [our cozy retirement] cabin will double in value every ten years..." and our $100,000 cabin will be worth "$800,000 in thirty years." Very few areas in the country even during the late real estate boom of the last three decades have done that well. What would qualify as "aggressively"?
Assertions and generalizations that may be lethal to your retirement
(1) "Home equity has no rate of return when it is trapped in the house..." This is outright nonsense. The return is what you save in interest or rents.
(5) He concludes that if not done before, "roll-outs" from IRAs commence at age 59 ½ over a five year period and that some younger people under age 50 should commence withdrawals despite the imposition of early withdrawal penalties. The value of tax-deferred growth is ignored, as is the fact that "repositioning" of funds shrink the amount available for investment by the tax paid, which greatly distorts his calculations.
Inane or incorrect assertions
(2) He states that the interest on an equity line used to purchase universal life insurance from which you contemplate borrowing is deductible. Under IRC section 264(a)3, it isn't).
Sloppy editing of facts
(2) "One requirement [for withdrawing tax-free income from a Roth IRA] is that a distribution may not be made until at least five years after the first contribution is made." This is incorrect. Principle contributions, which are withdrawn before earnings, can be taken at any time at no cost in tax or penalty.
Poor writing and berating of those who disagree with him
(2) "There are two ways to handle information: ignore it as false or increase your level of understanding to accommodate new ideas." Obviously, we are supposed to accommodate his ideas or we're complete idiots.
(3) There are probably hundreds of examples poor writing. "...Premium payments can be varied, fluctuated, and adjusted according to circumstances..." should be, simply, "Premiums can be adjusted."
Throughout, Andrew uses variations of the typical bunko-artist salesman ploy: scare you into agreeing to do whatever he says because life will be filled with disasters if you don't. On the contrary: your financial life will likely turn into a catastrophe if you do.
Books:
- Effective Fundraising For Nonprofits: Real World Strategies That Work
- El Feliz [y] El Hombre Feliz Independente del Mundo y de la Fortuna, o Arte de Vivir Contento en Todos los Trabajos de la Vida, etc. Nueva Traduccion, etc. por el P. D. Francisco Vazquez, etc. Tomos II, III, IV.
- Enterprise Integration Modeling: Proceedings of the First International Conference (Scientific and Engineering Computation)
- Ernest Hemingway A to Z: The Essential Reference to the Life and Work (Literary A to Z)
- Essential Doctor Strange, Vol. 2 (Marvel Essentials)
- Ethics and Technology: Ethical Issues in an Age of Information and Communication Technology
- Family Of Man, The
- Film Production Technique: Creating the Accomplished Image
- Financial Management For Public, Health, and Not-for-Profit Organizations (2nd Edition)
- Fray
Books Index
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