Acknowledgments xi
Introduction xiii
Chapter 1 The Big Picture 1
Money Is Everywhere 2
Understanding Money 4
Where Are You? 5
Getting to Where You Want to Go 6
Getting Started 7
The Key to Wealth: Live Below Your Means 9
Change with the Times 10
It’s Up to You 11
Different Strokes, Different Folks 12
Making Your Plan 12
Chapter 2 We Fight About Money, Too 15
A Failure to Communicate 17
How Do You Have a Difficult Conversation? 18
Chapter 3 Gendernomics 27
Shifting Roles 29
Are You Sure We’re Talking about the Same Thing? 30
Why Do Smart People Buy Stupid Things? 32
Women and Investing 33
Gendernomics in the Workplace 35
Chapter 4 Speaking Money around the World 39
A Brief History 40
Climbing Up the Ladder 42
A Fish Story 44
Globalization: Good or Bad? 45
What Goes Around Comes Around 48
Who’s Zooming Who? 49
Chapter 5 Speaking Money at Work 53
Speak STEM 55
Dirty Jobs 57
Green Jobs 58
Women and Work 60
Getting a Job 61
The Long-Term Unemployed 65
You Wanna Start Something? 67
Not-So-Happy Campers 68
Chapter 6 Speaking Money on Campus 71
High School Then, College Today 72
A College Degree Never Hurt Anyone 74
The Future Starts in Grade School 75
Education for Life 76
How Should You Look at College? 77
Thinking of Changing Fields? 81
Chapter 7 Speaking Money in the Market 87
Cash Equivalents 89
Let’s Speak Bonds 91
Price versus Yield 92
The World of Stocks 94
International Investing 95
Stepping into the Market 97
Mutual Funds 98
Index Funds 99
Exchange Traded Funds (ETFs) 102
Do Your Homework! 102
Chapter 8 Speaking Money to Investment Principles 107
Principle 1: There Is a Direct Relationship between Risk and Return 107
Principle 2: Time Is Your Friend 114
Principle 3: Diversifi cation Lowers Your Risk and Improves Your Return 114
Asset Allocation: The Key to Results 116
Chapter 9 Speaking Money in Your Own Portfolio 119
Your Investment Questionnaire 120
Your Model Portfolios 125
The Importance of Rebalancing 128
Financial Advisors—Yes or No? 129
Chapter 10 Speaking Money on the Home Front 135
Buying a Home 138
Rent versus Buy: One Man’s Story 145
What If You’re Selling? 146
When Is the Best Time to Buy? 149
Chapter 11 Speaking Money on Budget 153
Software Makes Budgeting Easier 155
Here Comes the Rain 156
What Does It Cost to Live? 157
Getting Out of Debt 160
Chapter 12 Speaking Money in Retirement 163
The Historical Perspective 164
Retirement Is Expensive 166
Programs to Fund Your Retirement 168
Play a Waiting Game 171
Social Security: The Nation’s Safety Net 173
Summing It Up 174
Living Your Golden Years 175
Afterword 177
Bibliography 179
About the Authors 181
Index 185
Ali Velshi is CNN's Chief Business Correspondent and host of Your Money. His in-depth reporting on the auto industry was honored with a National Headliner Award for Business & Consumer reporting in 2010. He anchored CNN's coverage of the attempted terror attack on a flight into Detroit, for which CNN was nominated for a 2010 Emmy. He is the author of Gimme My Money Back: Your Guide to Beating the Financial Crisis . Christine Romans is the host of Your Bottom Line, CNN's Saturday morningpersonal finance and lifestyle program and the money reporter for CNN's AmericanMorning. Her reports are carried on CNN's platforms worldwide. Among her awards is an Emmy for her reporting on outsourcing American jobs. From Timothy Geithner and Venus Williams to Tony Hawk and Russell Simmons, Romans interviews a diverse range of public personalities on financialissues facing Americans. She is the author of Smart Is the New Rich (Wiley), based on her experience covering the financial crisis.
?How To Speak Money by Ali Velshi and Christine Romans is a tutorial for the last taboo subject... our money. Ali and Christine remove the mystery and help us understand smart strategies for financial independence, growth, and security. The book fascinates as it teaches. Ali, the dare devil who takes risks and Christine the fiscal conservative who lives consciously. This book should be required education for everyone. People communicate more openly about sex than money. Each person in a relationship, whether business or personal, needs to understand and resolve, different points of view about debt, saving, investing and spending. If men are from Mars and women are from Venus, most of us live on the confused planet of Pluto, when it comes to dollars and sense. How to Speak Money, is the new gift for loved ones, colleagues, non-profits and friends. This Christmas, because of this great new book, the people in my life will finally be speaking the same language in matters of finance. Thank you, Ali and Christine.??Kathy Ireland, CEO and Chief Designer of kathy ireland Worldwide.
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