Complete Idiot's Guide to Savvy Investing, 2E
by Koch, Edward T.; DeSalvo, Debra; Little, Kenneth E.Edition: 2nd
Format: Paperback
Pub. Date: 2003-02-04
Publisher(s): DK Publishing, Inc.
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Summary
The Complete Idiot's Guide to Savvy Investingoffers down-to-earth advice on everything: stocks, bonds, commodities, futures and options, CDs, mutual funds, IRAs, mortgages, all types of insurance, credit cards, taxes, and more. Authors Koch, DeSalvo and Little clearly explain the ins and outs of Wall Street, how to zero in on a reliable broker, and dabbling in mutual funds and related portfolios. Includes chapters on advanced investing.
Author Biography
Edward T. Koch, now formally retired, has served as an investment professional for more than 40 years Debra Desalvo is a professional journalist and author
Table of Contents
| What Does "Financial Security" Mean to You? | p. 1 |
| Put Your Money to Work for You | p. 3 |
| Become an Educated Investor, Not Just a Consumer | p. 4 |
| So What Went Wrong When the Market Went Bust? | p. 5 |
| The Miracle of Compounding | p. 6 |
| An Easy Way to Figure Compound Interest | p. 7 |
| The "Blow-Your-Mind-by-Adding-Time" Chart | p. 9 |
| The 10 Percent Habit | p. 10 |
| Time, Risk, and Your Sanity | p. 10 |
| The Fed's Balancing Act: Dampening Inflation Without Dumping on Us | p. 12 |
| Your Personal Time Frame | p. 15 |
| How Do You Really Feel About Risk? | p. 19 |
| What Is Return? | p. 20 |
| What You Made, What You Paid | p. 20 |
| Fear of Heights: The Higher the Return, the Greater the Risk | p. 21 |
| The Tools of the Trade | p. 22 |
| The Three Broad Investment Classes | p. 25 |
| Variety Is the Spice of Life | p. 26 |
| Quiz Thyself to Know Thyself: Risk Tolerance Quiz | p. 27 |
| Got the Time? Take the Time Horizon Quiz | p. 30 |
| Are You a Grasshopper or an Ant? Selecting Your Investment Objectives | p. 35 |
| Just-in-Case Cash | p. 36 |
| How Can I Bring Home the Bacon, Fry It Up in a Pan, and Have Some Left Over? | p. 41 |
| How Gold Do You Want Your Golden Years to Be? | p. 43 |
| What Have You Got Right Now--and What Are You Going to Need? | p. 47 |
| So What Will Social Security Do for Me, Anyway? | p. 48 |
| Getting a Handle on Your Retirement Benefits by Pestering Human Resources | p. 50 |
| Help, I'm Self-Employed! | p. 51 |
| Creating Your Own Fabulous Pension Plan | p. 52 |
| A Super-Easy Way to Figure Out How Much You Need to Save | p. 53 |
| Use the 401(k) Plan, Stan | p. 57 |
| Get an IRA! | p. 58 |
| Trust Us, You Really Don't Want to Wait | p. 58 |
| But My Circumstances Will Change ... Won't They? | p. 58 |
| Stagger Your Debt | p. 59 |
| Your Personal Balance Sheet: A Snapshot of Your Finances | p. 60 |
| Get a Grip with a Personal Income Statement | p. 62 |
| A Happy Couple on the Right Track | p. 64 |
| Your Typical Young Guy Living Hand to Mouth | p. 65 |
| Shore Up Your Foundation | p. 69 |
| A Closer Look at Employment Benefits | p. 71 |
| Retirement Plans 101 | p. 72 |
| Defined Benefit Plans | p. 73 |
| Defined Contribution Plans | p. 77 |
| If Your Employer Matches, Invest the Max | p. 79 |
| Should You Put All Your Eggs in the Company Basket? Ask the Folks at Enron ... | p. 81 |
| What About Stock Options? Go for It | p. 82 |
| Managing Your 401(k) | p. 83 |
| No Company Plan? Create a Pension with an IRA | p. 84 |
| When Is a Roth IRA the Right Choice? | p. 85 |
| Converting a Traditional IRA to a Roth IRA | p. 86 |
| The Two Best Investments for Your IRA: Stocks and STRIPs | p. 88 |
| What to Do When You're Small and Solo | p. 90 |
| Meet the New Kid on the Block | p. 92 |
| Cutting Expenses Is Investing! | p. 95 |
| Become a Hunter/Gatherer | p. 96 |
| Your Tax Bracket Is Higher Than You Think | p. 96 |
| Figuring Your Marginal Tax Rate | p. 97 |
| Risk-Free Saving Where You Least Expect It | p. 98 |
| Buying Bulk Is a Great Investment | p. 99 |
| Your Car: Leasing vs. Ownership | p. 100 |
| Choosing a Bank | p. 103 |
| Life Insurance | p. 104 |
| Knocking Down Real Estate Taxes | p. 104 |
| Credit Cards | p. 104 |
| Little Things That Add Up | p. 105 |
| Solving Debt and Credit Problems | p. 107 |
| What Does Your Credit Report Say About You? | p. 108 |
| CRA Horror Stories | p. 108 |
| How to Check Your Credit Reports | p. 109 |
| Credit Cards: You Only Need One | p. 112 |
| How to Really Get Your Act Together | p. 113 |
| A Checking Account? Who Needs It! | p. 113 |
| Debit Cards--a Better Choice? | p. 114 |
| How Much of Your Income Should Go Toward Reducing Debt? | p. 114 |
| Good Debt vs. Bad Debt | p. 115 |
| Trim Your Taxes | p. 117 |
| What Are All Those Different "Incomes" Anyway? | p. 117 |
| Spankin' New Tax Bracket and Lowered Tax Rates | p. 120 |
| Uncle Sammie and Your Marginal Income Tax Rate | p. 121 |
| Employer-Based Health- and Child-Care Funds | p. 122 |
| Medical Savings Accounts: Are They a Good Deal? | p. 122 |
| Bush Gets Busy | p. 124 |
| Gains and Losses on Securities Transactions | p. 124 |
| Did You Say Tax-Free Interest Income? | p. 126 |
| Home Equity Loans Are Deductible | p. 129 |
| Timing Can Make a Big Difference | p. 130 |
| Investing 101 | p. 133 |
| What Are They Up to on Wall Street, Anyway? | p. 135 |
| A Little Background Music, Please | p. 136 |
| What's with All the Animal References? | p. 138 |
| But What Do All Those Numbers Mean? | p. 138 |
| The Key to Your Stock Knowledge: Price-Earnings Ratios | p. 140 |
| Look into My P/E Crystal Ball | p. 141 |
| Should You Play with the Big Kids or Just Get a Piggyback Ride? | p. 142 |
| Asset Allocation/Rebalancing | p. 147 |
| How Much Stock Should Be in Your Portfolio? | p. 148 |
| Dollar Cost Averaging, or How to Own Stocks and Stay Happy | p. 149 |
| So You Want to Play with Stocks | p. 153 |
| Tips for Trading Like a Pro | p. 154 |
| If You Buy It, You'd Better Love It | p. 155 |
| The Biggest "Do" of All | p. 155 |
| Researching Individual Stocks | p. 157 |
| All the News That's Fit to Print: Company Annual Reports | p. 159 |
| How to Use a Broker to Place a Trade | p. 162 |
| When Should You Buy Stock? | p. 164 |
| Diversifying Your Stock Portfolio: How Many Holdings Are Enough? | p. 166 |
| Slow and Steady Wins the Race: Fixed-Income Securities | p. 169 |
| What Are Fixed-Income Securities For? | p. 170 |
| When Do You Get That Groovy Interest Income? | p. 171 |
| Corporate Debt--An Unwise Choice for Small Investors | p. 176 |
| Okay, Corporate Debt Is Out--What Should I Buy? | p. 178 |
| The New I Bonds | p. 180 |
| CDs: A Viable Alternative to Government Debt | p. 182 |
| Navigating the Mutual Fund Universe | p. 183 |
| What Exactly Are Mutual Funds? | p. 184 |
| Open-End and Closed-End Funds | p. 184 |
| Avoid Load Funds | p. 186 |
| Index and Tax-Advantaged Funds | p. 187 |
| Exchange-Traded Funds | p. 188 |
| What's Out There in the Fund Universe? | p. 188 |
| Why Funds Are a Great Investment Option | p. 189 |
| How to Pick a Winning Fund | p. 190 |
| Check Out These Funds | p. 191 |
| Money Market Funds | p. 194 |
| Variable Annuity: a Mutual Fund Wrapped Around an Insurance Contract | p. 195 |
| Lifestyle and Tax-Efficient Funds | p. 196 |
| Pick a Date to Rebalance Your Mutual Fund Holdings Annually | p. 197 |
| Rolling with Life's Changes | p. 199 |
| Work Smart, Not Just Hard: Getting the Max from Your Job | p. 201 |
| What to Ask a New Employer | p. 202 |
| Transferring Retirement Accounts | p. 203 |
| So You're Your Own Boss | p. 204 |
| Retirement ... at Last! | p. 207 |
| How the Retirement Age You Choose Affects Social Security | p. 207 |
| Pay Tax on Social Security Benefits? Sad, but True | p. 208 |
| Can You Work and Still Collect Social Security? | p. 209 |
| Advantages to Delaying Retirement | p. 209 |
| When and How to Apply for Your S.S. Benefits | p. 210 |
| How Does Medicare Work? | p. 210 |
| What About Lump-Sum Retirement Benefits? | p. 212 |
| The Ramifications of Romance | p. 213 |
| When You Need a Prenup | p. 213 |
| The Marriage Tax | p. 215 |
| Joint Bank Accounts | p. 215 |
| Should You Keep Separate Investment Portfolios? | p. 216 |
| Untangling Your Assets During Divorce | p. 217 |
| QDROs--How to Split Retirement Assets When You Split | p. 218 |
| Negotiate with Your Head, Not Your Spleen | p. 218 |
| Other Divorce Options | p. 219 |
| Home Ownership: What You Need to Know | p. 221 |
| The Down Payment | p. 222 |
| Timing Is Everything | p. 222 |
| Re-Fi Mania | p. 223 |
| Evaluate Your Mortgage-Worthiness Before a Banker Does | p. 224 |
| Compare Renting to Owning | p. 224 |
| Over Time, Owning Should Save You Money | p. 225 |
| Renting Pluses | p. 225 |
| How Much of Your Income Should You Spend on Housing? | p. 226 |
| Fixed Rate vs. Adjustable Rate Mortgage | p. 226 |
| I.O. for U.? | p. 226 |
| The Costs of Closing | p. 227 |
| Second Mortgages--Pros and Pitfalls | p. 229 |
| Pluses to Paying Off Your Mortgage | p. 229 |
| Should You Shorten Your Mortgage? | p. 229 |
| The Relocation Package | p. 230 |
| Renting Out Your Home When You Move | p. 231 |
| Real Estate Agents | p. 232 |
| Closing the Deal | p. 232 |
| Educating the Little Rascals | p. 235 |
| Put Your Financial Security First | p. 236 |
| Setting Up Educational Funds | p. 236 |
| Qualified Tuition Programs (Section 529s) | p. 240 |
| Pros and Cons of 529 Plans | p. 243 |
| Tax Breaks for Education Expenses | p. 244 |
| Other Options | p. 245 |
| Sorting Out All the Options | p. 246 |
| Sorting Out the AGI Level Morass | p. 247 |
| In Whose Name? | p. 248 |
| Covering Your Assets | p. 249 |
| Don't Insure What You Can Afford to Replace | p. 249 |
| Life Insurance Simplified | p. 250 |
| Determining Your Insurance Needs | p. 250 |
| Annuities | p. 254 |
| Your Kids Don't Need Life Insurance | p. 255 |
| Insuring Your Home and Other Assets | p. 255 |
| Keeping Uncle Sam's Greedy Mitts off Your Estate | p. 257 |
| Why You Don't Want to Die Without a Will | p. 258 |
| Probate: The Process of Administering Your Will | p. 259 |
| Big Changes in Estate Taxes! | p. 260 |
| Unified Is Bifurcated | p. 262 |
| The Estate Tax Repeal ... Not So Appealing? | p. 263 |
| Tax-Saving Alternatives | p. 265 |
| Other Ways to Reduce Estate Taxes | p. 266 |
| What If You Inherit Money? | p. 268 |
| Investing Online | p. 271 |
| Getting Started with Online Investing | p. 273 |
| Once Upon a Time There Was a Big Fat Computer | p. 274 |
| Hey, How Do I Turn This Thing On? | p. 276 |
| You Need a Surfboard ... We Mean, a Browser | p. 279 |
| Banking and Shopping Online | p. 280 |
| Now Can I Trade? Selecting an Internet Broker | p. 283 |
| What's New in Online Trading and Tracking | p. 291 |
| Speed and System Backups | p. 291 |
| How to Use an Online Broker | p. 292 |
| How an Online Broker Works | p. 293 |
| Researching Investments Online | p. 295 |
| Tracking Your Portfolio | p. 298 |
| Three Isn't Necessarily a Crowd | p. 299 |
| Advanced Investment Plays | p. 307 |
| Hedging Your Options | p. 309 |
| Puts and Calls | p. 310 |
| How Did This Get Started? | p. 311 |
| Risk-Loving Speculator Seeks Cautious Hedgehog | p. 312 |
| In the Money | p. 313 |
| Reading an Option Table | p. 313 |
| Selling Short vs. Trading Options | p. 315 |
| Risky Business | p. 316 |
| Option Strategies That Protect Your Stock Positions | p. 316 |
| Stock Index Options | p. 317 |
| The Braveheart of Wall Street | p. 319 |
| LEAPS | p. 319 |
| Fancy Futures | p. 321 |
| What Is a Commodity? | p. 322 |
| It All Began with Farmers | p. 322 |
| How a Future Differs from an Option | p. 323 |
| How Margins Work | p. 324 |
| Using Futures to Offset Uncertainty | p. 325 |
| Financial Futures | p. 326 |
| Options on Future--Oy! | p. 327 |
| Spread Strategies for Speculators | p. 327 |
| Gold Nuggets | p. 328 |
| Realizing Real Estate Dreams | p. 331 |
| Why Own Real Estate? | p. 331 |
| The REIT Stuff | p. 332 |
| Types of Real Estate Ownership | p. 334 |
| So, You Want to Own Real Estate | p. 335 |
| Purchase and Rental of Homes and Apartment Buildings | p. 336 |
| How Rental Income Hits Your Tax Return | p. 337 |
| Location, Location, Location | p. 339 |
| Financing Real Estate Investments | p. 340 |
| Alternative Investments | p. 341 |
| How Regular Folk Discovered Alternative Investments | p. 342 |
| Hedge Funds | p. 342 |
| Venture Capital and LBO Funds | p. 343 |
| The Private Equity Fund of Funds | p. 343 |
| Pros and Cons of LP Investments | p. 346 |
| Unit Investment Trusts | p. 346 |
| Along Came a SPDR | p. 347 |
| Appendixes | |
| Useful Investing Info | p. 349 |
| Glossary | p. 355 |
| How to Avoid Turning the Stock Market into Your Own Personal Emotional Roller Coaster | p. 363 |
| Index | p. 367 |
| Table of Contents provided by Syndetics. All Rights Reserved. |
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