fainancial

This is one of the few books that I kept. One chapter in particular talked about going in business for yourself. I had bookmarked that and perhaps it was ironic because shortly thereafter, my company closed down.

6 secrets to a rich life will lead you to a rich life. My life is back on track now. This book has helped. Some others are The Automatic Millionaire, Rich Dad Poor Dad, The Richest Man in Bablyon and More Wealth Without Risk.

Good luck

The book's layout is orderly and the text is easily understood - thankfully, Swenson does not attempt to impress the reader with technical jargon and knows how to address his audience. Swenson organizes the book into three main parts: 1) The problem (pain), 2) the prescription (margin), and 3) the prognosis (health).

As mentioned earlier, Swenson describes the problem of pain and the prescription of margin in layman terms. Swenson describes how we can either place undue pressure on ourselves or allow society to dictate the unrealistic expectations we are expected to live up to today. Especially helpful were the prescriptions Swenson prescribes for dealing with today's insane rat race. Particulary compelling were the suggestions for balance, rest, simplicity, and healthy relationships.

All in all, an excellent read. The only reason I did not give it 5 stars was because I believe (in my humble opinion) that the author spent a little too much time describing the problem - he did not get into a comprehensive definition and description of the term "margin" until 1/3 of the way into the book. Despite this minor complaint, I highly recommend this book. The Christian will be encouraged to just rest in the love and acceptance of Jesus while the unbeliever will be encouraged to consider life is more than just career success and busy activities.

Following several years as an associate professor at a state medical school, Swenson now writes and speaks full-time as an expert on the intersection of faith, health, culture and the future. And his insightful analysis here does not disappoint, as he succeeds brilliantly at bridging the gap between the sacred and the secular, the timeless and the temporal.

Defining margin as the space that exists between people and their personal limits, Swenson suggests it is has largely been squeezed out of our lives and become yet another casualty of the harried and hurried times in which we live. Yet margin must be restored if we are to experience health through contentment, simplicity, balance and rest, he says.

From the opening chapter titled "Marginless Living," Swenson describes the decimation left in the wake of living with chronic overload. From our overstressed teachers and overworked farmers to overburdened pastors and overwhelmed parents, society at large has succumbed to the pressures of progress.

And, according to Swenson, the type of overload we are experiencing is a relatively new phenomenon, exponential in growth and unprecedented in scope. Fueled by the power of technology, living today has accelerated to warp speed, with many people yearning for a rest stop, if not an exit ramp, off the frenetic freeway of life.

"Progress's biggest failure has been its inability to nurture and protect right relationships," writes Swenson. And he suggests that the remedy is a return to a safer and saner lifestyle, one where people are thought of as priorities instead of problems, time is considered an ally rather than an enemy, and material wealth is less about making money than it is about living meaningfully.

While the price of progress can exact a painful toll, through the establishment of healthy limits, such as learning how to say no to over-commitment, Swenson advocates that a renewed emphasis on voluntary simplicity not only enhances one's standard of living, it is fast becoming a necessity for survival.

Swenson's frequent use of statistics, figures and graphs --- especially as he diagnoses the symptom of pain caused by overload --- can itself be somewhat burdensome at times, but it is well worth wading through the material to get to the marrow of his message: the prescription of margin for a prognosis of health.

As proven and prescribed by Dr. Swenson, MARGIN acts as a timely antidote to what ails modern man. And with sales well into six figures since its initial release in 1992, the book has earned its well-deserved place among contemporary Christian classics. Explaining complex change in context is Swenson's calling card, and his cure for it is a cause for celebration. Consider it a house call from heaven with hope and help for the soul.

--- Reviewed by Sean Fowlds

Leder's tactics and strategies for lay investors are
invaluable. She provides the insight and perspective of a professional
analyst.

"Bottom Line" a book well worth the investment.

What's particularly charming about this book, when compared with some of the other accounting-related books out there, is that you don't have to be a CPA or have an MBA or some other advanced degree to understand this book. Yet, the book is sophisticated enough to also be appealing to people who do.

I can't help but wonder now, as proxy and annual report season gets underway, how many investors would find this book incredibly useful. The chapter on related party transactions, which is cleverly titled All in the Family, is worth the book's price alone. For any investor who picks or invests in individual stocks, this is truly a must read!

One of the things our group has done over the past month is to go back and look at Healthsouth's SEC filings to see if we would have made the same mistakes. Now armed with Ms. Leder's expert advice, we found numerous "red flags" that would have prompted us to sell the stock before Healthsouth's problems became so apparent. Yes, hindsight is always 20-20, so it's easy to say that now. But we all still feel that we've learned so much from this book that we can now invest with a lot more confidence, instead of being pre-occupied with the fear that we're buying another company that's much more interested in enriching its executives at the expense of their shareholders.

Most of the other accounting-related books our group has read -- and we've read a bunch -- all seem to be aimed at a professional audience and can be a bit dry unless you're the type of person who thinks FASB is fascinating. Not this book. Using easy to understand language and examples that help you put the complicated accounting into perspective, this excellent book is an individual investor's best friend!

Only Chapter 5 "KKR as an Institutional Form" focused on the firm itself, and even this treatment was not nearly as obsequious as many other financial books (most notably "Goldman Sachs: the Culture of Success" by Endlich). Mr. Baker and Mr. Smith take a very level-headed approach and document the growth of the firm in a straight-forward manner, although they do inject a good deal of 'positivity' to their view, i.e. the revolutionary introduction of Monday Morning Meeting's at KKR in the 1990's (this is commonplace at most banks).

I particularly enjoyed the second chapter "Recasting the Role of Debt" which talks about some of the earlier transactions that KKR did in some depth. The description of their LBO of Houdaille is very much worth reading, if only for the fact that traditional 'Old Economy' companies are again garnering such interest. Indeed, that is a very noteworthy aspect of the whole book, KKR focused on established companies with real cash flows. The one transaction which involved real growth financing was a near bust. This is very different than all of the financial maneuvering that has gone on over the past two years, and it is interesting to compare the sustainability of the two efforts (the many years of KKR's existence surely triumphs over venture capital's recent 15 minutes of fame). Chapter 4 on "When Risk Becomes Real" talks about some of the failed KKR transactions, EFB Trucking and Eaton Leonard in some detail. The reaction of KKR to these hiccups is very impressive, and while it is told with the same 'positivity' of the authors as mentioned above, the authors still do a good job of telling the story in an objective manner. The efforts of the partners to maintaining KKR's reputation in the marketplace is nothing short of heroic, and while there was a clear financial incentive over the short term it is clear that the longer term reputation of the company also played a clear role in motivating their actions.

It really is rare to get a book as good as this with detailed financial information (even if it is more than 10 years old) and a mostly unbiased view of the Company. Where the authors are biased, it is easy to pick up and interpret. This is very much an academic treatment of the firm, with some detail as to what the rest of the market was doing, but not a whole lot. There are just the right number of graphs, which is very nice. I would think anybody working in finance would enjoy this book, although given the depth in which it describes the transactions, it might not be the most leisurely read. This is an outstanding book.

RoperASW found that money was only one of several factors that affected overall happiness. In addition to your genetic disposition toward happiness, the most crucial factors listed in order of importance include relationships, self-esteem, job satisfaction, health, and money. According to Chatzky these distinctions are important, "...when we chase money, we lose the opportunity to focus on the [other factors] that could reward us with a huge upward swing in happiness" (20).

Money seems to have a much higher potential downside than upside relative to happiness. The research shows that an individual's overall happiness is significantly affected by money only when that individual's income jumps from $25,000 to $50,000 per year. There exists little improvement in overall happiness when comparing different income groups who make $50,000 per year or more.

Chatzky downplays the role that money plays in achieving happiness by relating the law of diminishing returns, "Once you've achieved life's basic comforts and necessities, more money doesn't necessarily buy more happiness" (15). The rest of the book studies the financial habits of happy people in regards to financial organization, bill paying, record keeping, saving, spending, and setting goals.

Communication and organization serve as the key toward achieving overall happiness. Chatzky recommends investing in mutual funds, and protecting yourself and your family with adequate insurance coverage. She prefers you invest in either index funds or exchange-traded funds (EFTs), such as the "SPY" (S&P 500) and "VPI" (Wilshire 5000) that trade on the American Stock Exchange, depending on how much money you have to invest. Finally, concerning insurance, Chatzky believes that if you have a family you must have life insurance, and if you are single you must purchase "own-occupation" disability insurance.

The only problem for me is that the Roper research is based on a national survey. For those of us living in New York City, it's hard to swallow that $50,000 is the threshold amount that a person might need to be happy, unless she means "after taxes." I have friends who pay that much in yearly rent.

Still, if you can imagine the audience for this book is wider than those of us stuck in the most expensive city in the world, her points all make sense. Her thoughts about controlling spending by examining your real needs could have come from a psychologist, not an expert on money. The step-by-step advice is applicable to everyone, no matter how much you have in the bank.

It's a far reaching book that can help anyone become happier with what they have.