It's About More Than the Money: Investment Wisdom for Building a Better Life

by Saly Glassman

Overview

“Concise, realistic, and very readable, this book opens up the complex world of financial investing and provides a useful guide that first-time investors can and should utilize.”

–Publishers Weekly

“It’s About More Than the Money is a book for our times. Now more than ever, people are looking for financial advisors who can help them plan a secure future for their families and keep their dreams on track. Glassman captures the essence of this critical relationship–describing the qualities of trust and commitment that both client and advisor must bring to the table. Readers will come away with a better understanding of how the best financial advisors can change lives–and learn how to find the advisor who is right for them.”

–Sallie Krawcheck, President, Global Wealth & Investment Management,
Bank of America

“Saly Glassman uses her many years of financial advisory experience to help you improve your wealth in this well-written and entertaining book. This breezy read is full of anecdotes and is especially useful to those wanting to know more about working successfully with financial professionals.”

–Greg Karp, syndicated personal finance columnist at the Tribune Company,
and author ofThe 1-2-3 Money Plan and Living Rich by Spending Smart

“Read this before you read any other book on investments. From the mind and heart of a winning and highly respected financial advisor, it’s a strong dose of ‘intellectual hard love’–a lot of things you may not want to hear or do–but absolutely need to–
before investing a dime.”

–Steve Leimberg, Publisher, Leimberg Information Services, Inc. (LISI)

“When selecting a financial advisor, most people look only to the bottom line: ‘How much money will I make?’ Saly Glassman, in a concise and intuitive style, discusses through real life examples, the importance of selecting a financial advisor with whom you can develop a strong personal relationship. Ultimately, this collaboration is how true wealth is achieved and sustained through generations.”

–Morey S. Rosenbloom, Blank Rome LLP

 

In It’s About More Than the Money, award-winning financial advisor Saly A. Glassman shows you how to regain control over your financial life–and stay in control. Glassman brings together 21 fundamental investment principles, illuminates them with actual investor experiences, and guides you through putting each one to work. Drawing on everything she’s learned working with a broad cross-section of investors, Glassman teaches you how to plan your finances strategically, place money in broader context, and make your most important dreams a reality. You’ll focus on what you can control and let go of what you can’t…apply investment rules that work…recognize when to do nothing…assess your progress objectively, and much more. Glassman also helps you decide whether you need professional advice–and, if you do, she shows how to find an advisor who will add real value. Packed with insightful investor stories, this book will help you make wiser, better financial decisions–whatever your goals, whatever your age, and whatever the economy does next.

Product Details

ISBN-13:	9780131385252
Publisher:	Pearson Education
Publication date:	03/23/2010
Sold by:	Barnes & Noble
Format:	eBook
Pages:	240
File size:	712 KB
Age Range:	18 Years

About the Author

Saly A. Glassman is Managing Director of Investments at Merrill Lynch in Blue Bell, Pennsylvania.

Saly graduated from Cheltenham High in 1976 and is one of the few women recognized in the high school’s “Hall of Fame.” She joined Merrill Lynch in 1980 after graduating from Cornell University, where she studied Psychology. As a Managing Director, supported by a team of nine women and more than 150 years of collective experience, she invests more than $3 billion for high net worth individuals, families, and corporations.

Saly has been listed consistently in the top rankings of the Barron’s 100 Top Financial Advisors since the initiation of The Barron’s Winner’s Circle. She has been named as one of America’s Top Female Financial Advisors, holding the number one position in 2006 and 2008.

Saly recently authored the book, It’s About More Than The Money (FT Press, June 2010), to help restore investors’ confidence and motivate them to take responsibility for their financial futures. She has recently published four eBook Shorts, a collection of fairy tales retrofitted for timeless financial and investment lessons.

A dedicated athlete and equestrian, Saly has been competing nationally for 40 years. Her passion for the outdoors is reflected in her longstanding commitment to land conservation and the protection of the environment.  She has successfully patented and developed various “green” inventions designed to positively influence consumer behavior and protect the planet. Saly and her husband Allan also own a fitness center and retail wellness store, Kindle Hill LLC in Gwynedd Valley, Pennsylvania. They have two daughters, Janice and Lauren.

Over the last 31 years, Saly has been a prominent innovator, speaker, author, instructor and facilitator for Merrill Lynch, the financial services industry, and the community at large.

Read an Excerpt

Introduction Introduction Hello

In this introduction I’d like to talk with you briefly about your investments, your financial future, and your quality of life. That will prepare you to get the most out of this book.

In 29 years as a financial advisor with Merrill Lynch, I’ve seen enormous changes in the markets, the financial services industry, and even my own firm. A key objective of my professional career during those years has been to guide and educate clients. The downturn that began in mid-2007 has made me even more determined to use my experience to help simplify the investment process and offer practical advice that anyone would find valuable.

In the past you may have come to rely on what you considered conventional wisdom in your pursuit of successful investing. Perhaps as a result of this most recent crisis you have reconsidered what you thought it would take to achieve your goals. That would certainly be understandable. This particular market downturn has dealt such a devastating blow that everyone has been struck by it or knows someone who has. No one could blame you if you now wonder where this experience has left you and whose advice is safe to follow.

In my role as a financial advisor, I have talked at length with clients about their investment experiences. Like most people, you probably have lost money in one or more economic downturns. You may also have lost faith in the investment process. In this book, my primary goal is to help you get your investments back on track and restore the confidence you need to be a successful investor. Along the way, the insights I share will not only help you emerge victorious from the current financial crisis, but also prepare you to be a more successful investor in whatever markets lie ahead.

You may not think of yourself as an investor; however, if you have money that you want to protect and grow, you are an investor. You may have money in the bank, in bonds, in the stock market, in real estate, or in complex derivatives. That makes you more than just someone who has put aside a little money. You are not just a bank customer or a client of an investment brokerage firm. As long as you have saved money, you are making investments. You are an investor, and you need to take that role seriously.

How can you regain control of your financial life? First, you have to focus honestly and objectively on your past investment decisions and the consequences of your actions. Let’s face it: For most investors, this is too great a responsibility to go it alone. For that reason, an important message throughout this book is that there may be distinct advantages in working with a financial advisor who is reliable and well suited to your circumstances.

Most likely you have at least one person functioning as an advisor already. Maybe your advisor is the account manager at your local bank or the person assigned to you when you walked into an investment firm. Maybe you obtained outside advice as to where to put your money. From whom did you accept advice? Was it your spouse? Your parents? Your friends? Any of these may be your advisor. Or you may have a financial advisor in the most traditional sense—a formal relationship with a qualified investment advisor at a bank, trust company, or investment brokerage firm.

You might be asking yourself, “Do I need to establish a formal relationship with a professional financial advisor to be considered the kind of “investor” for whom this book is written? The answer is “no.” When I refer to investors in this book, I want you to know I’m talking to you. As an investor you deserve to be treated with care and respect, regardless of whether you use professional investment services. I want to acknowledge, however, the advantages of working with a professional financial advisor and selecting an advisor wisely. Whatever insight you gain here about how to think of investing and how to talk constructively to others about investing can help you make better investment decisions.

In the meantime, I will also guide you behind the scenes by offering insight into how to improve both your investment strategy and your overall financial picture. You’ll be hearing true stories and quotes from actual investors. I have changed most names and supporting details to protect their privacy. You may find yourself having thoughts and opinions similar to theirs, or you may discover entirely new perspectives based on what they have to offer. The sharing of their dialogue may be just the ingredient you need to effectively evaluate your own actions.

One of my objectives in writing this book is to demystify the investment process so you, perhaps in league with your advisor, can develop and follow guidelines that will work for you. That is entirely possible even if you have little experience with investments. I intend to help you become empowered through knowledge and action-­oriented practical advice.

Through this book I will be available to you every step of the way as you pursue success in your investments and in all your goals. Being successful relative to life’s most important goals, after all, is about so much more than the money. Let’s read on and learn more.

© Copyright Pearson Education. All rights reserved.

Table of Contents

Acknowledgments xv

About the Author xvii

Introduction 1

 

Chapter 1 Rules Are Essential, but They Do Not Guarantee a Win 5

Chapter 2 Focus Your Predictions on What You Can Control: Your Priorities 13

Chapter 3 Let Go of What Might Have Been 21

Chapter 4 Take Responsibility 31

Chapter 5 Do What You Know and Recognize What You Don’t Know 39

Chapter 6 Have Investment Rules That Work for You 45

Chapter 7 The Time to Have the Fire Drill Is Not in the Middle of the Fire 55

Chapter 8 The Best Advice Is Sometimes About What Not to Do 67

Chapter 9 Appreciate the Value of Holding on to What You Have 79

Chapter 10 Know What You Want to Accomplish 87

Chapter 11 Be Clear About What You Have and What You Don’t Have 97

Chapter 12 Expect to Pay a Price–Either Now or Later–for the Choices You Make About Handling Your Money 103

Chapter 13 Know the Essence of Your Advisor’s Brand 121

Chapter 14 Does Your Advisor Care Deeply About You? 129

Chapter 15 Expect to Be Taken Care Of 141

Chapter 16 The Investor’s Perception Is the True Reality 151

Chapter 17 Crises Are Like Little Gifts 159

Chapter 18 The Most Valuable Things in Life Do Not Involve Currency 169

Chapter 19 Find the Courage You Need to Have Integrity 179

Chapter 20 There’s an Entire Economy in What We Consume and Waste 189

Chapter 21 Make It Happen 199

 

Appendix Formulas Used for Chapter 12 Calculations 205

Index 209

Editorial Reviews

Glassman, senior vice president of investments at Merrill Lynch, demystifies investing and offers instantly useful advice on getting your feet into the water. She urges readers to complete a full financial audit and evaluate spending habits honestly and objectively before they move on to her sensible investment plan and setting their own rules. She includes stories of success and failure to clarify key points, and provides valuable advice on will, estate, and tax planning, gifting to children, and asset allocation. She also dedicates an entire chapter on what not to do, including investing with friends, overextending your borrowing, and getting attached to investments. Concise, realistic, and very readable, this book opens up the complex world of financial investing and provides a useful guide that first-time investors can—and should—utilize. (June)

Publishers Weekly