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    The Minimax Money Manual
    The Minimax Money Manual
    The Minimax Money Manual
    Ebook97 pages1 hour

    The Minimax Money Manual

    By Robert Zimmerman

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    About this ebook

    Don't let yourself be swayed by 'popular' advice given by those in the media. If you will open your mind and think for yourself, you will be well rewarded financially.

    The ideas presented in these essays may not all apply to your personal situation, but some of them surely will. You should be in a position to go to your advisers and let them know your wishes. You should be able to measure the difference between your present planning arrangements and the alternatives presented in this book.

    LanguageEnglish
    PublisherRobert Zimmerman
    Release dateOct 3, 2011
    ISBN9781465843326
    The Minimax Money Manual

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      Book preview

      The Minimax Money Manual - Robert Zimmerman

      The

      Minimax

      Money

      Manual

      Robert J. Zimmerman, CFP, MBA

      Published by Robert J. Zimmerman at Smashwords

      (Copyright 2011 Robert J. Zimmerman

      Smashwords Edition, License Notes

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this ebook with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

      ******

      Table of contents

      1. There is no such thing as ‘risk free’!

      2..Tax control-– A ‘Do it yourself’ project

      3. Don’t burn the mortgage

      4. Safe money investing for retirees

      5. As you near retirement

      6. America’s vast untapped resource!

      7. When you give it all away

      8. Some common mistakes to avoid

      *****

      Introduction

      On the 9th of October, 2007, the Dow Jones industrial average closed at 14,164.53, an all time high. On the 9th of March, 2009, it closed at 6,547.05. In the short time span of 18 months, the average dropped nearly 54%. Similarly, the broader index known as the S & P 500 index dropped just over 54%.

      In the wake of this incredible performance, the news media was filled with stories of people whose retirement plans had been totally changed. Those with 401k or IRA accounts were typically reluctant to open the mail, knowing that there was only bad news to deal with.

      While all this was going on, there was something else occurring that seldom appeared in the news media. Billions of dollars had been invested in fixed annuities. These contracts paid interest only if the stock market index increased. When the index dropped, they actually paid out ZERO interest, causing many to wonder why they had not placed the funds in bank accounts that at least paid something. Some asked their advisers about this, and were reminded that they had been set up with the 'potential' to reflect stock market gains, but no guarantee that this would happen.

      Some advisers pointed out that ZERO interest was a much better performance for their funds than those who had directly invested in mutual funds. Unlike those who had incurred losses in account value in excess of 50%, their full principal was available to participate in the following resurgence in the stock market.

      The media 'experts' who had advised their audience that they should ignore those 'salesmen' of annuities, and simply resort to the use of index funds, or 'no load' mutual funds were now left with the problem of explaining how long it might take for them to recover their principal. Or, put another way – how long to double their money to get back to where it was before the drop in the indices. And – how this could be done in a recession!

      Those who had put retirement funds into variable annuities saw their account values decline right along with those who used mutual funds. But there was a difference, however. For most of those accounts, there was a provision that protected the retirement values against stock market declines. Indeed, the insurance companies that had been castigated for charging 'high fees' for these guarantees now found themselves wondering how they could have charged so little. What had sounded 'too good to be true' for account holders, turned out to be exactly that for insurance companies.

      The purpose of this book is to point out some of the concepts that are readily available for retirees and baby boomers who are interested in avoiding the roller coaster that the stock market provides for their nest egg.

      Here is what we want to put on your money menu, and incidentally the reason for the title of the book:

      WE WANT TO MAXIMIZE PEACE OF MIND!

      WE WANT TO MINIMIZE RISK!

      WE WANT TO MAXIMIZE THE RETURN ON INVESTMENTS!

      WE WANT TO MINIMIZE TAXES!

      The average investor is necessarily reliant on obtaining financial advice from those in the financial professions. This is a verity, even while recognizing that we do live in the 'age of information'. Unfortunately, many advisers are not trained in a holistic sense, and their advice is limited to what they are comfortable with.

      So, is there a need for a book of this nature? When you see people -

      a) complaining about low interest rates

      b) ignoring guarantees of insurance contracts

      c) ignoring long term health care financing

      d) ignoring present and future income tax savings opportunities

      e) listening to biased and uninformed advisers

      it becomes obvious that the age of information has not impacted financial decisions!

      The questions posed in this book will give you a head start; You will at least know what questions to ask in evaluating the qualifications of those you choose to consult with. You need not agree with the positions taken by the author, and the choices offered are not necessarily appropriate to your particular circumstances. The book is not intended to be a comprehensive guide for planning. If it stimulates thinking, it will have served its purpose.

      Hopefully, you will be prompted to ask more questions of your adviser, with the result that you have not only achieved the goals stated above, but have also found time spent reading the book to be the best investment of the year for you.

      back to the top

      ****

      Chapter One

      THERE IS NO SUCH THING AS 'RISK FREE’!'

      Life is filled with risk. There is just no way to avoid it, and that is the stark reality we face each day of our lives. WE MUST JUST RECOGNIZE THE FACT THAT THERE IS NO SUCH THING AS A 'RISK FREE INVESTMENT'.

      The opposite side of the coin is –OPPORTUNITY -which is our reward for accepting the reality

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