Illusions of Wealth
In order to keep your wealth from being an illusion, you must possess the ability to adjust your portfolio as the economic and investment climates change. Buy-and-hold strategies can work with some assets, but should not be the way forward for all your holdings. Applying the common sense of this book can grant you control of your future and your wealth. It’s a matter of choosing the right advisor by asking the right questions—which you will find in this book. This book is written to bring you the awareness, confidence and insight necessary to conquer the future panics, crashes, and crises that will inevitably arise, and teach you how to profit whether the market is rising or falling.
Illusions of Wealth will ask you the following questions:
What are the economic conditions on the horizon that can affect your wealth?
Why do you invest the way you do?
Is it because someone told you to invest that way?
Who do you trust for investment advice, and why?
Are they any good?
How much do they make from their recommendations to you?
Did they protect your portfolio during the last financial crisis?
Is another financial crisis around the corner?
How have you structured your portfolio differently to protect your wealth if we were to experience another economic downturn?
Table of Contents
Part I - Understanding Money
Chapter 1: Our Monetary System
Chapter 2: What Is a Dollar or Federal Reserve Note, and What Backs Our Money?
Chapter 3: Mocking Money
Part II - Understanding Economics - Do Not Be Afraid
Chapter 4: Keynesian vs. Austrian Economics
Chapter 5: GDP Growth is the Key Issue
Chapter 6: Lies and Statistics: What Does the Economic Data Tell Us?
Chapter 7: Government Spending
Part III - Deflation
Chapter 8: Deflation Isn't a Bad Thing, Just Misunderstood
Chapter 9: Exter's Pyramid
Part IV - Inflation
Chapter 10: Prices Rising Everywhere, but Why?
Part V - Banks
Chapter 11: Why an Understanding of Banks Matters
Chapter 12: Banks Today Versus Then
Chapter 13: What Led to the 2007-2009 Financial Crisis?
Chapter 14: Banks Will Stop at Nothing
Chapter 15: Bank Exposures
Part VI - Federal Reserve
Part VII - Knowing Your Advisors: Questions to Ask, Past Performance, Critique and Hidden Agendas
Chapter 18: Preparing to Interview Your Financial Advisor
Chapter 19: Performance of Mutual Fund and Hedge fund Advisors
Chapter 20: Critique of Economic Forecasters and Financial Advisors
Chapter 21: Advisors' Hidden Agendas
Part VIII - Investing
Chapter 22: Start With The Basics
Chapter 23: If You Think You Know It All, There's More
Chapter 24: Now That You Know It All - There's Still More, and We Haven't Even Gotten to Actual Investments Yet
Chapter 25: Investment Strategies To Consider
Chapter 26: Investment Categories to Consider (How to Think Outside the Box)
Chapter 27: Most Popular Investment Alternatives
Chapter 28: Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs)
Chapter 29: Alternative Investments
Chapter 31: Real Estate
Chapter 32: Life Insurance and Annuities
Part IX - Retirement
Chapter 33: Social Security
Chapter 34: The Illusion of Retiring at 65
Chapter 35: Problems for Those in Retirement