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HomeBooksMedicineJim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer) |
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| Customer Reviews: | | Average Customer Review:
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Great for beginners Jun 29, 2010
Covers all the basics, but not as detailed on actually trading stocks as his Sane Investing in an Insane World.
0 of 1 found the following review helpful:
 Fast shipment Jun 21, 2010
Book showed up promptly. I ordered three books from different vendors. This one was the first to show up. Good condition as promised.
1 of 1 found the following review helpful:
Great for people who don't know about retirement plans May 18, 2010
This review is for the audio version. Jim Cramer gives the listener a great plan for retirement. He goes through the different types of retirement plans that are available and talks about the pros & cons of each type. Where his book differs from others is that he gives you specific stocks and mutual funds to purchase now for your retirement portfolio.
He is incorrect about a few things about 401k plans. First he says that if you borrow money from your 401k plan you have to pay the tax and the 10% penalty. Most plans have a payback plan over a period of time usually 2-3 years where you have additional funds put back into your account and there is no penalty. Second he does not mention that if you have a 401k plan and your company plan allows it, you can retire at 55 and start using the money without paying the 10% early withdrawl penalty if you leave the money in the 401k plan and not roll it over into an IRA. You cannot do this with an IRA. He doesn't mention at all about a SEPP which allows you to retire earlier than 59 1/2 and not pay the penalty on your withdrawls.
I think this is an excellent book/audio and Mr. Cramer reads the audio version.
Disconnect between title and contents Apr 21, 2010
I obtained this book hoping that it will do for my investing what another book did for my trading. That is increase the value of my 401K and IRA by managing it better. I was disappointed in that the book's focus was geared to basic financial information such as bad debt vs good debt,stocks for a 10 year old kid, paying off credit cards,not placing all your 401 K in company stocks etc. I felt I was reading a book by Suze Orman rather than Jim Cramer.
One uncommon advice Jim gives regarding 401K is not to fund your 401K above employer's match due to the limitations on investment choices through your company. Unfortunately no specific investment advice is given on what to do with the money you do not place into your 401k except to use it to fund your IRA.
Considering this book was borrowed from the library and did not cost me anything, I felt that for a person unfamiliar with the basics it can be useful thus a 4 star rating
1 of 1 found the following review helpful:
Useful Introduction to the Basics of Investing - Cramer Style Apr 12, 2010
This book by Jim Cramer is porbably the one that is most useful for the typical Joe or Jane on the street. He discusses at some length basic personal finance information, retirement savings, investing using mututal funds, IRA, 401k's and other vehicles. The advice is practical, easy to absorb, and generally pretty useful. His advice may not be all that great for the high net worth person whose income limits some of his investment strategies (like the Roth IRA), and unlike some of his other books, this one feels a bit more cursory and superficial. Not a bad intro book for those new to investing - not a great read if you have some insight and are looking for more. Cramer's earlier books will be better suited to you.
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