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Title: Die Broke : A Radical 4-Part Personal Finance Plan to Restore Your Confidence Increase Your Net Worth and Afford the Lifestyle of Your Dreams (Cassette) by Stephen Pollan, Mark Levine, Pollan Stephen M. ISBN: 0-694-51926-X Publisher: HarperAudio Pub. Date: 01 January, 1998 Format: Audio Cassette Volumes: 2 List Price(USD): $18.00 |
Average Customer Rating: 3.4 (5 reviews)
Rating: 4
Summary: Financial Planning for Stunt Pilots
Comment: Die Broke is an extremely seductive book. Stephen Pollan's idea is that you'd be a fool to save your money for a rainy day. He says spend it now, which is contrary to what evey other personal finance expert advises. Take a round-the-world cruise, buy that new Mercedes, or better yet, lease it. This advice goes against the grain, and I found myself fascinated by such an original approach. It's tempting to adopt his methods and live for the present, but my advice is listen to the book, but don't take it too seriously.
Rating: 3
Summary: Redundant, repetitive, and sometimes he even repeats himself
Comment: My opinion of this book changed a few times while I was reading it.
First, I thought that this book was pretty good in that it gives a "radical" new approach to personal finance. I enjoyed this book because of this. It takes a topic that can be very vanilla in its ways, and gives a brand new thought process. I guarantee you that you will see some ideas that totally contradict what other personal finance consultants would say. For example, the author actually makes an argument for leasing instead of buying a car. Seeing that argument was a first for me, especially in this type of book.
Then, the author became very repetitive, and actually started to use examples and paragraphs that were previously used in this book. This was quite annoying.
Finally, the book finished it's 4 part radical plan, and began to add commentary about various topics in personal finance. After being annoyed, this section kind of got me back on track. Again, it was interesting to read opinions that were not necessarily mainstream, on topics that have been discussed to death in other books.
Overall, I would say that people should give this book a try. Beware of the redundancy, and go in with an open mind.
You won't read about having to live under your means, or about how accumulate the most wealth to give to your heirs. Instead, you will see how to make the most of you money, live at your means, die broke, and leave people a minimal estate. Through the use of annuities, insurance, and reverse mortgages, one can have money till the day they die. However, the book does come up short when it talks about actually implementing this program. For example, there was no mention on the typical price of an annuity, nor how one would actually purchase these annuities with a minimal savings account. If it was mentioned, it was given the justice it deserved.
Enjoy!
Rating: 1
Summary: Stereotypes lead to illogic
Comment: This is the ultimate demonstration of GIGO (garbage in; garbage out). They start with defining all readers as a stereotypical babyboomer husband and wife team who are so work driven they get nothing out of life. Authors as lawyer-savior-savant advise them to quit their jobs, or at least think as if they quit, tear up their credit cards and work the rest of their lives while spending all they have and dying broke. Not every baby boomer, much less average American, is what they describe as the party to whom they are giving advice. While there is good advice in some of the book, the idea of proceeding from a stereotypical description of a person leads to a conclusion that might be of value only to that stereotypical person. The conclusions and advice given cannot apply to most people, much less all people. There remain in the society hard workers and slackers; brain surgeons and dullards; computer programmers and ditch diggers; driven producers and fourth generation welfare recipients. Ovbiously, this book is not for food stamp recipients or clients of the welfare system. Never the less there is good advice that is worth taking and understanding. The credit card system, whereby one obligates himself to pay without the pain of shelling out hard earned cash, allows one to build debt without feeling it. This book is really for those much too busy to read it.
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