A new book by a Portland, Oregon-based registered investment advisor warns investors shut out most of the “noise” they hear about “what stocks and investments to buy, which ones to hold and what they should be doing with their money now.”
In his book, The Truth Project: Finding the Courage to Ignore Wall Street (High 5 Communications, 2012), Wayne von Borstel, CFP, president of von Borstel & Associates, also devotes two chapters to retirement planning.
“The news media remains an important source of information for our culture, but consumers need to know when to turn it off and how to separate the good information from the bad information,” said von Borstel in a release about the book.
“You have to learn to control your informational input, and remain systematic, unemotional and diversified in order to keep your subconscious from making you do things that will be detrimental to your financial future.”
In The Truth Project, von Borstel details the path to a prosperous future:
- Chapter 1, “Changing Our Financial Attitude,” discusses “moneyholism” and the ways in which investors absorb information they receive from those they believe to be experts.
- Chapter 2, “Financial Myths,” dispels myths associated with personal finance.
- Chapter 3, “Core Truths,” is concerned with helping investors recognize misguided advice and develop the confidence to ignore it.
- Chapters 4, 5 and 6 detail the three phases of a consumer’s financial life. Chapter 4 describes six excuses people give for postponing saving. Chapter 5 focuses on the questions investors should ask when nearing retirement and how to have honest and open conversations about the answers to those questions. Chapter 6 discusses reasons people fail financially when preparing for retirement and provides advice for avoiding those pitfalls.
- Chapter 7, “Estate Planning,” presents five case studies about effective estate planning.
- Chapter 8, “Why I Do What I Do,” discusses what investors should ask when hiring a financial professional.
