A useful financial-planning book that’s enhanced by the author’s personal experience.
A financial planner offers advice for managing a lifetime of wealth.
In this debut book, Stefanou draws on his work advising clients and his personal experience of helping his immigrant father to manage his finances in his later years. It offers readers a roadmap to investing responsibly, managing tax obligations, and using accumulated wealth for charitable or legacy purposes. The book’s title refers to the wealth of its target audience—people who have accumulated more than $1 million in investable assets, often concentrated in retirement accounts. The book guides readers on how to invest that wealth to preserve and maximize its value, as well as how to spend it responsibly and enjoyably, and pass it down to one’s heirs. Stefanou covers some familiar topics, such as how to balance growth and risk over the lifetime of a portfolio, minimize tax liability through legal means, and manage spending during retirement. The book also dedicates a chapter to the needs of business owners, arguing that they should diversify their investments beyond their own enterprises and recommending exit planning well in advance of retirement for a smooth sale or transition. Other chapters address less concrete aspects of financial planning, such as assessing personal and ethical values, deciding how to get the most enjoyment out of spending one’s available money, and anticipating and mitigating conflicts among heirs. Stefanou also advises readers on how to avoid financial scams and find a capable financial adviser. Each chapter concludes with “SWIM [Stefanou Wealth and Investment Management] Lessons,” combinations of summary and workbook exercises that guide readers through taking action on the topics covered.
The book provides a solid base of information, and it’s enhanced by the many anonymized stories that Stefanou shares from his clients’ adventures in saving, investing, and bequeathing inheritances. For instance, he explains the steps that he took to help a young man with a low salary minimize his income tax exposure. However, what makes the book unique is Stefanou’s inclusion of stories about his father, a Greek immigrant who lived frugally while working low-wage jobs and acquired enough capital to buy a rental property; he ended up with a portfolio worth more than $1 million, while continuing to work long hours into his later years. The author explains that the penny-pinching habits his dad practiced out of necessity were hard to shake when his financial situation was less precarious, and he takes readers through instances when he coached his father into occasionally spending some of his money. For instance, Stefanou encouraged his father to hire a builder to replace his porch, instead of doing it himself. “It was a fear of embracing and utilizing wealth because he felt like he needed permission to spend or else he was squandering money,” the author explains, and it took the combined effort of himself and his sister to help their father to overcome it. Such insights set this book apart from others in the genre. Throughout, Stefanou writes with empathy for his readers while offering advice that will guide them to responsible financial behavior.
A useful financial-planning book that’s enhanced by the author’s personal experience.Pub Date: April 15, 2025
ISBN: 9798891651777
Page Count: 218
Publisher: Streamline Books
Review Posted Online: Feb. 10, 2025
Kirkus Reviews Issue: April 1, 2025
Review Program: Kirkus Indie
Cogent, well-timed ideas for meeting today’s biggest challenges.
Helping liberals get out of their own way.
Klein, a New York Times columnist, and Thompson, an Atlantic staffer, lean to the left, but they aren’t interrogating the usual suspects. Aware that many conservatives have no interest in their opinions, the authors target their own side’s “pathologies.” Why do red states greenlight the kind of renewable energy projects that often languish in blue states? Why does liberal California have the nation’s most severe homelessness and housing affordability crises? One big reason: Liberal leadership has ensnared itself in a web of well-intentioned yet often onerous “goals, standards, and rules.” This “procedural kludge,” partially shaped by lawyers who pioneered a “democracy by lawsuit” strategy in the 1960s, threatens to stymie key breakthroughs. Consider the anti-pollution laws passed after World War II. In the decades since, homeowners’ groups in liberal locales have cited such statutes in lawsuits meant to stop new affordable housing. Today, these laws “block the clean energy projects” required to tackle climate change. Nuclear energy is “inarguably safer” than the fossil fuel variety, but because Washington doesn’t always “properly weigh risk,” it almost never builds new reactors. Meanwhile, technologies that may cure disease or slash the carbon footprint of cement production benefit from government support, but too often the grant process “rewards caution and punishes outsider thinking.” The authors call this style of governing “everything-bagel liberalism,” so named because of its many government mandates. Instead, they envision “a politics of abundance” that would remake travel, work, and health. This won’t happen without “changing the processes that make building and inventing so hard.” It’s time, then, to scrutinize everything from municipal zoning regulations to the paperwork requirements for scientists getting federal funding. The authors’ debut as a duo is very smart and eminently useful.
Cogent, well-timed ideas for meeting today’s biggest challenges.Pub Date: March 18, 2025
ISBN: 9781668023488
Page Count: 320
Publisher: Avid Reader Press
Review Posted Online: Jan. 16, 2025
Kirkus Reviews Issue: Feb. 15, 2025
BOOK REVIEW
PERSPECTIVES
Highly instructive for would-be tycoons, with plenty of entertaining interludes.
Well-crafted memoir by the noted media mogul.
Diller’s home life as a youngster was anything but happy; as he writes early on, “The household I grew up in was perfectly dysfunctional.” His mother lived in her own world, his father was knee-deep in business deals, his brother was a heroin addict, and he tried to play by all the rules in order to allay “my fear of the consequences from my incipient homosexuality.” Somehow he fell into the orbit of show business figures like Lew Wasserman (“I was once arrested for joy-riding in Mrs. Wasserman’s Bentley”) and decided that Hollywood offered the right kind of escape. Starting in the proverbial mailroom, he worked his way up to be a junior talent agent, then scrambled up the ladder to become a high-up executive at ABC, head of Paramount and Fox, and an internet pioneer who invested in Match.com and took over a revitalized Ticketmaster. None of that ascent was easy, and Diller documents several key failures along the way, including boardroom betrayals (“What a monumental dope I’d been. They’d taken over the company—in a merger I’d created—with venality and duplicity”) and strategic missteps. It’s no news that the corporate world is rife with misbehavior, but the better part of Diller’s book is his dish on the players: He meets Jack Nicholson at the William Morris Agency, “wandering through the halls, looking for anyone who’d pay attention to him”; hangs out with Warren Beatty, ever on the make; mispronounces Barbra Streisand’s name (“her glare at me as she walked out would have fried a fish”); learns a remedy for prostatitis from Katharine Hepburn (“My father was an expert urological surgeon, and I know what I’m doing”); and much more in one of the better show-biz memoirs to appear in recent years.
Highly instructive for would-be tycoons, with plenty of entertaining interludes.Pub Date: May 20, 2025
ISBN: 9780593317877
Page Count: 352
Publisher: Simon & Schuster
Review Posted Online: May 12, 2025
Kirkus Reviews Issue: June 15, 2025
SEEN & HEARD
SEEN & HEARD
SEEN & HEARD
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