Last week Kiran Chetry challenged Ali to prove that he wasn't "all hat; no cattle." This week, it was Dana Bash that issued the challenge to Ali.
It doesn't appear that Ali Velshi's book was actually released last week. I did come across this excerpt of the first chapter:
Excerpt: Chapter 1- Too Little? Maybe. Too Late? Never!
This book is not about theory; nor is it a guide to day-trading your way out of a hole. It is a practical guide to help you make money and to avoid losing it once you have it. If you’re getting a late start to retirement planning (or just plain creating wealth), you will see yourself in the chapters of this book. Perhaps you are one of millions who thought your retirement investments were secure but through no fault of your own, they have been wiped out. Regardless of how you got to this point of having very little saved-up for your retirement, the bottom line is that you are in this mess now, and you need to find a way out of it.
If you use is book wisely and make your financial decisions with discipline, you should be able to create wealth for your retirement. Throughout this book, financial planners and advisors of all kinds will share investment plans and model portfolios with you. You can plug in your own specifics and numbers to make them relevant to your situation.
The average investor (commonly referred to as the “retail” investor, as opposed to the “institutional” investor) often hears or reads that the trick to long-term wealth creation is something akin to ‘slow and steady wins the race.’ We are continually told that ‘capital preservation’ – or not losing your hard earned money – is more important than double-digit returns on your investments.
Obviously just not losing your money is not going create wealth. We also know that if you invest sensibly and with discipline, with the minimum goal of beating inflation, your savings will multiply into a comfortable retirement fund. This is achieved by the power of compounding, and by using the tax sheltered savings vehicles available to working Americans. Simplistic as this may sound, history bears out that it actually works.
But what if you never started investing properly? Or perhaps you did, but you lost most of your money, and you now find yourself with virtually nothing for retirement? That’s the very problem this book is going to help you solve.
This week's Mystery Journalist was Richard Quest.