Pound Foolish: Exposing the Dark Side of the Personal Finance Industry

Olen calls out some of the biggest names in the business, revealing how even the most respected gurus have engaged in dubious, even deceitful, practices - from accepting payments from banks and corporations in exchange for promoting certain prod­ucts to blaming the victims of economic catastrophe for their own financial misfortune. In this meticulously reported and shocking audiobook, journalist and former financial columnist Helaine Olen goes behind the curtain of the personal finance industry to expose the myths, contradictions, and outright lies it has perpetuated. Weaving together original reporting, interviews with experts, and studies from disciplines ranging from behavioral economics to retirement planning, Pound Foolish is a compassionate and compelling audibook that will change the way we think and talk about our money.. But that's not true. Pound Foolish also disproves many myths about spending and saving. As salaries have stagnated and companies have cut back on benefits, we've taken matters into our own hands, embracing the can-do attitude that if we're smart enough, we can overcome even daunting financial obstacles. She shows how an industry that started as a response to the Great Depression morphed into a behemoth that thrives by selling us prod

sophie j di nicolo said This is a must read for anyone who is wondering. This is a must read for anyone who is wondering where to put their money in a place that It will grow, and be there for their other years. The stock brokers, and financial advisors have one agenda, and that it is for you to give them your savings to invest in stock accounts,\. I wouldn't advise not to do that unless you learn a litte about this money making system. Number on thing they tell you is give me your money, and I will invest it for me. You pay me fees, and maybe or maybe not I will make money for youBu. J. Edgar Mihelic, MBA said You Pretty Much Have to Call This "Penny Wise," Right?. The writer of the fine Trekonomics, Manu Saadia, pointed me to Olen’s work in a conversation (you can pick up that name, since I dropped it and am done using it). What this book is is a complete and thorough debunking of your favorite personal finance guru. Most are charlatans, it seems that the real question is to what degree are they charlatans.What I take away is that like some presidential candidates, what is being sold is not success per se, but the idea of success. Wrap yourself in the rich dad poor . "It's a rigged game that will require collective action to set straight" according to Gordon Bruce Smith. Financial journalist Helaine Olen is not very happy with the "personal finance" industry. "Personal finance" in this context includes all those who write (Suze Orman et al), advise (financial planners), entertain (Jim Cramer and his Mad Money screamfest), manage money (Fidelity and all the other fund managers) for individuals, and so forth. The idea is to build wealth for retirement, kids' college, buying a house -- in short, it's an industry that is central to the quality of people's material well-being. The sh