Investing without Wall Street: The Five Essentials of Financial Freedom

Introduction: Take a Journey with Me 1

Part I The Five Essentials 9

Chapter 1 The First Essential: Determine the Right Asset Allocation 11

Chapter 2 The Second Essential: Diversify within Asset Classes 19

Chapter 3 The Third Essential: Understand and Control Risk 37

Chapter 4 The Fourth Essential: Keep Your Costs Low 43

Chapter 5 The Fifth Essential: Choose the Right Financial Media to Follow 49

Part II Actions and Strategies to Implement the Essentials 75

Chapter 6 Developing Media Expertise 77

Chapter 7 How to Build Mutual Fund Portfolios for Lifetime Profits 99

Chapter 8 Index Fund Investing: Beyond the S&P 500 113

Chapter 9 How to Survive Bear Markets 121

Chapter 10 The Case for Market Timing 129

Chapter 11 The No-Work Way to a Comfortable Retirement . . . Maybe 145

Chapter 12 Dealing with Professionals 153

Part III Becoming a Well-Rounded Money Maven 173

Chapter 13 For Clearer Thinking 175

Chapter 14 The Psychology of Investing 195

Chapter 15 Integrity, or the Lack of It 211

Chapter 16 Women Aren’t Different; They Just Live Longer 225

Chapter 17 Adventures in Collectibles 233

Chapter 18 Vanity Investments 239

Chapter 19 Increasing Your Workplace Income 245

Epilogue: Journey's End 257

Appendix: Directory of Newsletters with Model Portfolios 261

Glossary 265

Acknowledgments 281

About the Author 283

Index 285

A wise man should have money in his head, but not in his heart.
—Jonathan Swift