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You're not alone if the thought of running your own business has crossed your mind. Even if your vision of a small business differs from your neighbor's, you probably dream of being your own boss and of providing a needed service or creating a cool new product. But your very first small-business decision may be to admit that you're not ready for this career - at least not You're not alone if the thought of running your own business has crossed your mind. Even if your vision of a small business differs from your neighbor's, you probably dream of being your own boss and of providing a needed service or creating a cool new product. But your very first small-business decision may be to admit that you're not ready for this career - at least not yet. If you're straddling the fence, Small Business For Dummies will uncover whether this career works for you. You'll also gain insight into getting your personal finances in order before exposing yourself to the risk of a new business, and discover how to draw a roadmap to reach your career destination. This easy-to-understand guide is also for those who want to Write a gang-buster business plan Create the right legal framework for your business Locate financing that suits your needs Develop and market your product Hire the right employees for the right jobs Build your business You'll also gain understanding of the tactical side of running a small business, from pricing, budgeting, business expansion, and complying with government regulations to operational issues including: Managing your time Collecting accounts receivable Understanding your financial statements Taking good care of your customers Locating new financing or revising existing financing You don't need to be a genius to run a successful small business, but you do need some help. And that's exactly what this book is, a guide into the stimulating world of small business ownership and management.


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You're not alone if the thought of running your own business has crossed your mind. Even if your vision of a small business differs from your neighbor's, you probably dream of being your own boss and of providing a needed service or creating a cool new product. But your very first small-business decision may be to admit that you're not ready for this career - at least not You're not alone if the thought of running your own business has crossed your mind. Even if your vision of a small business differs from your neighbor's, you probably dream of being your own boss and of providing a needed service or creating a cool new product. But your very first small-business decision may be to admit that you're not ready for this career - at least not yet. If you're straddling the fence, Small Business For Dummies will uncover whether this career works for you. You'll also gain insight into getting your personal finances in order before exposing yourself to the risk of a new business, and discover how to draw a roadmap to reach your career destination. This easy-to-understand guide is also for those who want to Write a gang-buster business plan Create the right legal framework for your business Locate financing that suits your needs Develop and market your product Hire the right employees for the right jobs Build your business You'll also gain understanding of the tactical side of running a small business, from pricing, budgeting, business expansion, and complying with government regulations to operational issues including: Managing your time Collecting accounts receivable Understanding your financial statements Taking good care of your customers Locating new financing or revising existing financing You don't need to be a genius to run a successful small business, but you do need some help. And that's exactly what this book is, a guide into the stimulating world of small business ownership and management.

30 review for Small Business for Dummies

  1. 4 out of 5

    Eleanor

    I'm about half way through here and this has been a great read. I never thought I'd be so absorbed by a book like this but when you're in that weird transitional state between student and independent adult, a book like this can feel empowering. I can't believe this stuff isn't required education for public schools or even expensive colleges (perhaps those institutions would rather their students not fully understand loans and big money...). I went from having a very basic, very vague sense of bu I'm about half way through here and this has been a great read. I never thought I'd be so absorbed by a book like this but when you're in that weird transitional state between student and independent adult, a book like this can feel empowering. I can't believe this stuff isn't required education for public schools or even expensive colleges (perhaps those institutions would rather their students not fully understand loans and big money...). I went from having a very basic, very vague sense of budgeting and saving to now getting a grasp on types of retirement plans, forms of savings, and am also getting a great introduction to investing. Before this book, even the words "retirement plans" and "investing" made me sort of worried and uncomfortable. Now I feel like I can ask more intelligent questions. This book also includes a lot of valid personal advice. Don't become obsessed with building wealth, personal relationships can be more valuable than anything. Also, don't always go with a brand name if the service or product you seek isn't their specialty. Just because it's easier doesn't mean it's wiser. Great advice! I pick this up whenever I have a spare moment. Highly recommended for anyone who wants a gentle-but-not-condescending introduction to finance! Everyone should get this book when they turn 18. == Finished. The above review still holds true. It's easy to skip things I don't feel like reading about yet (buying a house, health care for the retired, etc.) and just zoom in on the most pertinent things to my life. Still recommended for everyone.

  2. 4 out of 5

    Ian Hrabe

    What have I become? I used to be cool! I majored in film and writing because I was going to be the next Orson Wells AND write the next Great American Novel! WHAT HAPPENED?! Alas, dreams give way to reality, which is much richer than you would expect. Unless you read "richer" as "having actual dollar dollar bills ya'll," in which case um, no. I have a beautiful wife and daughter, but we live with her folks out in the country. I spent the first 26 years of my life with absolutely no concept of per What have I become? I used to be cool! I majored in film and writing because I was going to be the next Orson Wells AND write the next Great American Novel! WHAT HAPPENED?! Alas, dreams give way to reality, which is much richer than you would expect. Unless you read "richer" as "having actual dollar dollar bills ya'll," in which case um, no. I have a beautiful wife and daughter, but we live with her folks out in the country. I spent the first 26 years of my life with absolutely no concept of personal finance. Worse than that, even. I took out high interest private student loans when I was 18 and went to college for 5 years because I was still hoping I'd figure out what I wanted to do. I wasted so much of that loan money on useless crap. It makes me blind with rage just thinking about myself back then. I have spent the last three years whipping myself into financial shape, and when I sat down and read Personal Finance for Dummies, I knew my transformation was complete. I entered the cocoon a passionate young man and emerged from my pupa a grizzled adult who cares only about making the most money possible with my limited skills and ruthlessly providing for my family. This is who I am now. God help us all. That said, while I found Eric Tyson to be dry and probably on the opposite political/ideological spectrum as myself, he did a good job explaining the oft maddening realms of money, mortgages, investing, interest rates, and all that crap. It provided a nice foundation for prospective homebuying, which is the whole reason I went "money mad." My wife looks at me with the same look Dr. Frankenstein gave his monster. "YOU NEED TO BE PUTTING MONEY IN YOUR 401K ESPECIALLY IF THEY HAVE A 5% MATCH ARE YOU DENSE?!" she would say to me when I was working at Half Price Books. I have become a monster.

  3. 4 out of 5

    Elizabeth

    Finish this on the flight back from Cancun. It takes some humility to read "for dummies" books but I actually learned a ton and felt that it provided a very comprehensive, easy-to-understand explanation of conservative investing principles. I learned about ETF's, mutual funds, stocks, bonds, real estate investing, small biz investing, and general principles such as diversification and risk tolerance. Tyson could have organized the book a bit better (sometimes this issue is exacerbated when readi Finish this on the flight back from Cancun. It takes some humility to read "for dummies" books but I actually learned a ton and felt that it provided a very comprehensive, easy-to-understand explanation of conservative investing principles. I learned about ETF's, mutual funds, stocks, bonds, real estate investing, small biz investing, and general principles such as diversification and risk tolerance. Tyson could have organized the book a bit better (sometimes this issue is exacerbated when reading on Kindle because you can't easily find old notes or chapters), but his writing style seems relatively unbiased and it is great to learn about all the different sources of bias in financial brokerage firms and media coverage. Highly recommend for any millennial seeking to take control of his or her finances.

  4. 4 out of 5

    Abigail

    I picked up this book after reading Pound Foolish: Exposing the Dark Side of the Personal Finance Industry. In that book, the author exposes a lot of the conflict of interest and hypocrisy that are inherent to much of the personal finance industry (financial planners, most of whom are actually broker/dealers, as well as popular gurus), but she recommended Personal Finance for Dummies as legitimate good advice. Eric Tyson, the author, has a lot of experience as a financial counselor, helping peop I picked up this book after reading Pound Foolish: Exposing the Dark Side of the Personal Finance Industry. In that book, the author exposes a lot of the conflict of interest and hypocrisy that are inherent to much of the personal finance industry (financial planners, most of whom are actually broker/dealers, as well as popular gurus), but she recommended Personal Finance for Dummies as legitimate good advice. Eric Tyson, the author, has a lot of experience as a financial counselor, helping people who've messed up (from a little to a lot) get themselves back on track. This perspective does color his prose a little -- for example, he seems to view most broker/dealers as barely better than swindlers, and has nothing good to say about most annuities and life insurance products -- but it makes for authentic advice. It can also make you feel bad if you've fallen for one of the bad ideas; but at least he probably would blame the dealer and not you. The other thing I noticed reading it cover to cover is that it can get repetitive (there is lots of hammering on the evils of consumer debt, for example) -- but that is partly by design so that you don't have to read it all the way through. The book is organized such that you can flip to any chapter dealing with whatever question you have, and he'll cross-reference with other parts of the book as needed. Happily, the table of contents is highly detailed as well, so that you can easily see which chapters might benefit you. The best praise I can give this book is, "Boy, I wish I'd read this when I was in college!" I am grateful that my parents instilled in me such good money habits (for example, I've never [intentionally] carried a credit card balance), so I avoided most of the serious mistakes he rails against, but I would've felt so much more prepared and in control of my finances if I had read this before starting my career, and I would've improved some of my mediocre financial choices. Key points that stood out to me:(view spoiler)[ - Our economy may run on consumption, but from a *personal* finance standpoint (which is, after all, the topic of the book), consumer debt (i.e., "bad debt," which was used to acquire something that won't appreciate in value) is always bad news. This includes carrying a credit card balance and taking out a loan for a car. [I am guilty of the latter because of attractive interest rates, but it's still non-appreciating property.] It is impossible to read this book and escape this point. - All mutual funds and almost all insurance and annuity products can be found in no-load (commission-free) varieties. Commissions on mutual funds can be as high as 5% of your share purchase price; commissions on annuities may be as high as 100% of the first annual premium! You pay these commissions, either directly or in the form of lower performance or higher fees, as compared to the no-load varieties. - The best way to hire a money manager, for all but the very richest among us (i.e., the 1%, and if you're in the 1% you're probably not reading this book), is to buy low-cost actively managed funds. The best money managers only work with enormously large balances, which you probably don't have. Both this book and Pound Foolish sing the praises of the Vanguard Group (www.vanguard.com) in providing low-cost, no-load funds, both indexed and actively managed. - There's no such thing as free advice. Any free advice is always trying to sell you something. That may be selling you on their funds, or on the idea that day trading is a good idea because they make commissions on your trades, or directly selling you products for which they earn a commission even if other products might have better returns or be better for your strategy. (hide spoiler)] Incidentally, I find it curious that some reviewers gave the book a lower rating because "most of the book didn't apply to me." The best time to read advice, or at least know that such advice exists, is before you need it! Then you'll remember the advice (or at least remember to look it up) when the situation comes upon you. But I have also been told that unlike me, most 20-somethings aren't highly focused on long-term goals and planning for retirement. ;) If you want this advice in shorter form, written to target a younger and hipper generation, look for Financially Fearless: The LearnVest Program for Taking Control of Your Money. Yes, she is also trying to sell you something (namely the LearnVest money management program), but I personally didn't feel like her company got in the way of her advice (which is not free, because somebody paid for the book :) ). Now that I've read both books, I don't see any conflict of interest in Financially Fearless; but I am older and stodgier than she is, so I needed more advice about things like child care expenses and saving for college.

  5. 4 out of 5

    C

    A great starting point for the person thinking about starting a business. It quickly walks you through the pros and cons of being an entrepreneur, then dives into page after page of practical, real-world advice on attaining and maintaining success. It covers all the bases, including financing, marketing, accounting, sales, management, taxes, and growth. Although it doesn't go into incredible detail about each topic, it definitely points you down the right path, and refers you to more specialized A great starting point for the person thinking about starting a business. It quickly walks you through the pros and cons of being an entrepreneur, then dives into page after page of practical, real-world advice on attaining and maintaining success. It covers all the bases, including financing, marketing, accounting, sales, management, taxes, and growth. Although it doesn't go into incredible detail about each topic, it definitely points you down the right path, and refers you to more specialized resources as necessary. Favorite chapters Ch 1: Is Small Business for You? - figure out if you have an entrepreneurial spirit - learn the pros and cons of small business ownership Ch 3: Finding Your Niche -inventory your skills, interest, and experience -pursue "accidental opportunities" Ch 4: Crafting Your Plan - create a mission statement - write a business plan Ch 11: Marketing: Product, Pricing, Distribution, Promotion, and Sales - network and use referrals Ch 12: Keeping Your Customers Loyal - provide excellent customer service - learn from defections Skipped chapters Part 2 (Ch 6-9): Buying an Existing Business Ch 15: Finding and Keeping Superstar Employees Ch 16: Providing Employee Benefits Notes You must pay the full cost of Social Security and Medicare, not just half, because you're both employer and employee. Sell benefits, not features. Buy liability insurance and workers' compensation insurance. Use zero-based budgeting to force yourself to manage consumption and review costs. Maximize profit without losing too many sales. Measure the results of advertising. Ask customers how they heard about you. Give talks or teach classes to local groups to promote yourself. Good customers 1. enable you to make a profit 2. purchase repeatedly 3. refer others Bend policy for good customers. Show customers you care - handwritten note - thank you call - handle mistakes Ask dissatisfied customers how they propose to solve issues. Cash flow is the movement of money, while profitability is the ability to keep revenue higher than expenses. For services you seek from others, get quotes up front, and itemized invoices at the end. To improve profits - decrease expenses - increase margins - increase sales Join trade associations. Find a local SBDC (small business development center). To qualify as an independent contractor, a person must act as a business, not as your employee. Focus on what you do best, outsource the rest. 80% of profits come from 20% of customers. 80% of success comes from 20% of efforts.

  6. 4 out of 5

    Mario Ascencio

    This book helped me when I first started out in my career. I had no clue what IRA, IRA-Roth were, CDs, Mutual Funds, etc. This book really helped me.

  7. 4 out of 5

    Michelle Bozbay

    I wish I would have read this book and learned about this topic in general 10 years ago. It has such valuable information that I consider this book a completely unintentional female empowerment book! Slow and steady wins the financial race. Investing this way makes me feel financially capable and independent, which is an important part of the larger conversation of equality for women.

  8. 5 out of 5

    Vaira Selvakani

    A good book for people who are beginners into investing and want to learn about Mutual Funds and ETFs.

  9. 5 out of 5

    Scott Dinsmore

    Why I Read this Book: The more I read about financial success and passive income, the more I hear about real estate. As I was starting to think about making my first real estate investment I realized it was a subject in which I was never formally educated. This provided me with a great foundation. Review: One thing that just about every one of us can be sure of in our lives is that we are going to be dealing with real estate in one way or another. For most of us I hope this means we will be acquir Why I Read this Book: The more I read about financial success and passive income, the more I hear about real estate. As I was starting to think about making my first real estate investment I realized it was a subject in which I was never formally educated. This provided me with a great foundation. Review: One thing that just about every one of us can be sure of in our lives is that we are going to be dealing with real estate in one way or another. For most of us I hope this means we will be acquiring real estate assets, and with all of financing options available today, real estate ownership can be realized by almost anyone. Even if you never do buy a piece of real estate, you will still have to deal with landlords and real estate laws. So the interesting thing about this book is that at first glance it looks as if it is only for real estate investors/future owners but it is just as advantageous for future renters to read to learn about all the tips and tricks of landlords, properties and the like. With that said, how many of us grew up with an education in real estate? I am willing to bet that the answer is very few since it is not something currently mandatory in our education system. At the very least, everyone who makes it through high school or college should be granted the basic fundamentals of real estate and property ownership. That of course is a whole different topic. My point is that the knowledge contained in this book can serve each and every reader in some way. For those of you who are not familiar with the “For Dummies” brand, these books put a bit of a fun spin on your ordinary text book while staying quite clear and concise in their teachings. They also serve as great reference material. I am sure you will see a few more reviews from me on this brand of books in the future. Real Estate Investing for Dummies covers the whole gamut of topics and information. Topics include raising money, understanding real estate, finding properties, deciding between property types, operating the property, financing options, selecting and working with a broker, dealing with and selecting tenants and tax implications. There is even a sample purchase agreement included in the back. The odds are that any topic of interest that’s related to real estate will be covered at least in brief but most likely in depth. You may find that your broker, assuming you have chosen a knowledgeable one, will be up to speed with many of these topics and will be wiling to provide you with much more in depth information on the most important topics of your proposed investment. It is of course always smart and prudent to come into a broker relationship with a strong foundation of knowledge from which to build. Real Estate Investing for Dummies gives you that base. One of the most valuable sections I found in this book was More Than 10 Ways To Increase a Property’s Return. The title is perfectly descriptive. Many of the points appear to be “common sense” but we know how rarely that is actually practiced. Some not so obvious points include developing a market niche, refinancing and adding value through change in use. Historically real estate investing has been one of the most lucrative investments of all time. There are many benefits to real estate as an investment that you will not find else where, and of course there are the negatives too. Take action by starting your real estate education today. There is no downside to understanding the industry and the odds are that it will have great implications on your future net worth. As you read more about investing and investment vehicles, your interest will likely begin to perk. This is especially true if you read some of the books from Robert Kyosaki’s school of thought. You may find after reading and learning about real estate, that it is the last place you would like to put your money from an investment stand point. If that is all you get out of this book then great. That too may be one of your more valuable lifetime financial learnings. The important thing is to expand your knowledge on this topic to allow yourself to make more accurate decisions toward your financial success in the future. This read is your way of taking action today to get closer to that goal. -Reading for Your Success

  10. 5 out of 5

    Brian

    (3.5) Lots of the basics, helpful for first time buyers Some of this I could have saved time if I'd read before buying our house. Wanted to see if there was anything I missed (and there were a couple things). Seems a bit wordy and repetitive at times, but might be best used as a reference when you're at each stage of the process. Didn't look at the CD, but maybe there's something helpful in there for collecting comparable sales and guides you to the price home you're envisioning? There's some gen (3.5) Lots of the basics, helpful for first time buyers Some of this I could have saved time if I'd read before buying our house. Wanted to see if there was anything I missed (and there were a couple things). Seems a bit wordy and repetitive at times, but might be best used as a reference when you're at each stage of the process. Didn't look at the CD, but maybe there's something helpful in there for collecting comparable sales and guides you to the price home you're envisioning? There's some generally good financial advice in there too, but hope it's not the first place you see/hear/read those advice. Some things that were good tips that I didn't think through during our buying process: * tips on how much to let yourself spend on improvements: don't make the place stick out (too well maintained, style out of sync with neighborhood, too big), be the most expensive house in neighborhood etc. * how to interview prospective agents (with specific--good--questions) - p. 204 * be sure to use a property inspection contingency (and duh use your own inspector that you hire, ASHI certified) - p. 262 * questions to interview property inspector - p. 283 * be AT the property inspection - p. 284 * insurance: get guaranteed replacement cost insurance - p. 289 * personal property replacement guarantee - p. 290 * ask for a refinance rate on the title insurance if you're refinancing (much cheaper) - p. 294 * joint tenancy with right of survivorship vs community property (as in the book, we made this decision last minute when we were asked in escrow officer's office) - pp. 307-8 * save all receipts for improvements to the property/house for cost basis purposes at sale - p. 322 - earlier in the book discussed what is maintenance vs improvements * if buying rental property, to assess cash flow, ask for current owner's Schedule E from tax return (expenses on the rental) - p.330 * rental losses may not be deductible (depending on income), so make sure it's cash flow positive! - p. 330 * selling: selling agent tips, e.g. 3 month max contract - p. 333 * do a practice walkthrough before selling (friends, prospective agents)...figure out what's wrong with the place before you list! * really helpful property inspection report example so you know what to look for. - appendix - above, reminded us to ask for sample report from prospective property inspectors to see if they're worth anything (or pure boilerplate) So, overall, pretty good. Could be more concise. Again, I recommend for people heading into first home purchase!

  11. 4 out of 5

    Lobstergirl

    Homebuying really depends on your particular market. Some markets are unique (New York City, for example). Buying a condo is fairly different from buying a single family house. Obtaining a mortgage, I hear, is quite a bit different today than it was before the financial meltdown. Real estate laws differ by state. So whatever general, all-purpose book you read, if you're a first time buyer, is never going to tell you everything you need to know. But if you are buying for the first time, or buying Homebuying really depends on your particular market. Some markets are unique (New York City, for example). Buying a condo is fairly different from buying a single family house. Obtaining a mortgage, I hear, is quite a bit different today than it was before the financial meltdown. Real estate laws differ by state. So whatever general, all-purpose book you read, if you're a first time buyer, is never going to tell you everything you need to know. But if you are buying for the first time, or buying after a long period of living in the same house, you should certainly read some book like this. I found this book less helpful than 100 Questions Every First-Time Home Buyer Should Ask: With Answers from Top Brokers from Around the Country.

  12. 5 out of 5

    Dina

    I give this book only 2 stars because most of it doesn't apply to be. I'm not a homeowner and so don't need advice on mortgages, I'm in no financial position to play the stock market, etc. For a mid-twenty-something, the useful information I gleaned from this book could just as easily come from Wikipedia or better yet, my dad! Not to mention making any sort of investment right now (CD, bond, long term savings plan) has such little pay off it's almost not worth it to think about. Maybe when I'm r I give this book only 2 stars because most of it doesn't apply to be. I'm not a homeowner and so don't need advice on mortgages, I'm in no financial position to play the stock market, etc. For a mid-twenty-something, the useful information I gleaned from this book could just as easily come from Wikipedia or better yet, my dad! Not to mention making any sort of investment right now (CD, bond, long term savings plan) has such little pay off it's almost not worth it to think about. Maybe when I'm ready to settle down this book will be useful, but as someone just scraping by, there's only so much you can do.

  13. 5 out of 5

    Leigh

    If you read this book from cover to cover and you STILL can't figure out the best way to buy (or not buy) a house, perhaps you should live with your parents forever. Seriously, this book covers everything in just the right amount of detail. If you read this book from cover to cover and you STILL can't figure out the best way to buy (or not buy) a house, perhaps you should live with your parents forever. Seriously, this book covers everything in just the right amount of detail.

  14. 5 out of 5

    Kitten Kisser

    That I found this book overwhelming & confusing. Okay fine. Roll your eyes & laugh all you want. I guess I'm dummer than a dummy. This year I took the leap into the small business world. I run an Organic farm with my husband. We don't have employees, we have livestock & crops. We are a general farm. My problem with the book is that even though it is for small business, it was too big business for me. So many situations didn't apply & had me sweating bullets. I started to over think everything & b That I found this book overwhelming & confusing. Okay fine. Roll your eyes & laugh all you want. I guess I'm dummer than a dummy. This year I took the leap into the small business world. I run an Organic farm with my husband. We don't have employees, we have livestock & crops. We are a general farm. My problem with the book is that even though it is for small business, it was too big business for me. So many situations didn't apply & had me sweating bullets. I started to over think everything & bury myself in endless amounts of paperwork, getting little else accomplished in the day. I tried talking to other local farmers for business advice but didn't get much out of them. I talked to an out of state friend & when they understood all the crazy I had going on, they started to help by explaining a few things to me. Now I am on a somewhat smoother path. Despite my lack of understanding, I didn't feel it was fair to rate the book any less than 4 stars. When I have a better grasp on some things, sections of the book are more clear to me. Also, some of the IRS speak is much more clear thanks to reading the Dummies book. I hope that as time goes on things will work more seamlessly. I intend on holding on to this book to reference to. I imagine it will become more helpful to me the more all this business stuff takes root in my brain & isn't in one ear & out the other. After calling my local help center for small business's I was very glad to have read this book. The woman I spoke to mentioned many of the things the book mentioned & thankfully I understood what she referred to & didn't feel stupid. How about that! It took me a few months to read the entire book while setting up my small business - which still isn't finished but getting there. It is amazing how many little things there are to do. I look forward to the day when having our organic farm as a business comes to me as naturally as just plain ol' farming!

  15. 4 out of 5

    Kit Pang

    As someone with no knowledge of investing, I have gained a general knowledge of the terms and concepts of investing as well as gaining the confident to be able to identify the different kinds of investments I can research more. In this small condensed book, Eric Tyson provided a basic overview of the world of investing but more investigation is needed to fully grasp each subject. Summary Investing in your 20s and 30s for Dummies is an easy-to-read overview of basic investing. Eric Tyson offers in As someone with no knowledge of investing, I have gained a general knowledge of the terms and concepts of investing as well as gaining the confident to be able to identify the different kinds of investments I can research more. In this small condensed book, Eric Tyson provided a basic overview of the world of investing but more investigation is needed to fully grasp each subject. Summary Investing in your 20s and 30s for Dummies is an easy-to-read overview of basic investing. Eric Tyson offers insightful advice, investment warnings and investment strategies for investors who might be just starting out or for those who already have investing experience that might want to refresh their minds. Content includes: Part 1: Understanding Investing Terms and Concepts Part 2: Preparing Your Investing Foundation Part 3: Beginning Investments Part 4: Advanced Investments Part 5: The Part of Ten (Investing Tips) Main beliefs that are addressed: •You own personal comfort matters •Costs matter •Market timing is much harder to predict than folks realize •There are better times than others to sell •Think long-term •Diversify •Emphasize value •Ignore the minutiae •You are what you read and listen to Investing in Your 20s & 30s for Dummies Eric Tyson

  16. 4 out of 5

    Tao Lee

    Purchase the buildings occupied by their own businesses and essentially pay the rent to yourself. If you own a business that rents, do yourself a favor become your own landlord! Under current tax law, you can pocket substantial tax free profits when you sell your home for more than you paid plus the money you sunk into improvements during ownerships. Single tax-payer up to 250k tax free capital gain; married couples filing jointly is 500k - you must occupy this property for 24 months out of the Purchase the buildings occupied by their own businesses and essentially pay the rent to yourself. If you own a business that rents, do yourself a favor become your own landlord! Under current tax law, you can pocket substantial tax free profits when you sell your home for more than you paid plus the money you sunk into improvements during ownerships. Single tax-payer up to 250k tax free capital gain; married couples filing jointly is 500k - you must occupy this property for 24 months out of the past 60 months. Remember to check out old properties - plumbing, electrical systems, poor soundproofing as a host of economic and concessional obsolescence. In condos, you must review the governing documents before you purchase the property to see exact what you legally own. Mortgage lenders usually require a much higher down payment and charge higher loan fees and interest rates on loans to buy land bc they see it as a more speculative investment.

  17. 5 out of 5

    Graeme Roberts

    If you live in the United States and plan to buy a house, or to provide help and support for someone who does (which is my situation), you should read this book cover to cover, and then have it available as a primary resource for every step of the complex process of home buying. Make sure you have the most recent edition, as changes occur constantly in laws, tax codes, business practices, and software services. I used the seventh edition, published in 2020. Like all Dummies books, in my experienc If you live in the United States and plan to buy a house, or to provide help and support for someone who does (which is my situation), you should read this book cover to cover, and then have it available as a primary resource for every step of the complex process of home buying. Make sure you have the most recent edition, as changes occur constantly in laws, tax codes, business practices, and software services. I used the seventh edition, published in 2020. Like all Dummies books, in my experience, Home Buying Kit for Dummies is well written, clear and unambiguous, and sufficiently informal that you feel like you are talking to an old friend.

  18. 4 out of 5

    Kit Pang

    This book had everything that I needed to learn about buying a home (detached and attached residences, financials,mortgages, contracts, useful tips and more!) I spent a week before downloading articles and doing research about the home buying process and I noticed I often got distracted. This book helped saved me time instead of going online and researching different sites and articles. This book has it all to start your journey to the difficult and confusing times of buying a home. I highly reco This book had everything that I needed to learn about buying a home (detached and attached residences, financials,mortgages, contracts, useful tips and more!) I spent a week before downloading articles and doing research about the home buying process and I noticed I often got distracted. This book helped saved me time instead of going online and researching different sites and articles. This book has it all to start your journey to the difficult and confusing times of buying a home. I highly recommend this book to MY WIFE!

  19. 5 out of 5

    Aaron Barnett

    Really helped me understand basic personal finance. Soon after reading, I opened a Roth IRA. I also changed my investment strategy in my 401k, and I began investing in some of the funds that Eric suggests across all accounts. The book does a great job of simplifying information and making data-driven investment suggestions. I’d highly recommend it to anybody trying to get a better understand of how to schedule their investments.

  20. 5 out of 5

    Martha Karen

    Okay y’all don’t hate!!! I’ve never read a “For Dummies” book before. I always assumed the series would be overly simplistic and quite literally written for morons. Honestly, this book was extremely helpful, informative, detailed, and thoughtfully laid out. I think a book like this is preferable to reading similar info online on sites like nerdwallet.com or bankrate.com because you won’t encounter any sponsored or biased content. Highly recommend.

  21. 4 out of 5

    Jillian

    I didn't finish this book, but it doesn't look like I'm going to. It's not a laugh a minute, but it does give a clear picture of investing in general, including some decent advice. I do wish there had been a section on Socially Responsible Investing, though, since that is mostly what I try to do. I didn't finish this book, but it doesn't look like I'm going to. It's not a laugh a minute, but it does give a clear picture of investing in general, including some decent advice. I do wish there had been a section on Socially Responsible Investing, though, since that is mostly what I try to do.

  22. 5 out of 5

    C

    A helpful guide as we enter our first home buying journey!

  23. 5 out of 5

    Viet Nguyen

    A helpful book on the home buying process.

  24. 4 out of 5

    Alicia

    When we move to Texas we are planning to buy our first home. So of course I bought a book to learn all I could about doing so. I love the “for dummies” series of books and HIGHLY reccomend them when people need to learn stuff. I’ve used a few different ones. This one was great except, a lot of the info does not apply to us. Talking about when to buy for instance, well, that will be when we move and that is when the Army says so. 😂🤷🏻‍♀️ Which by the way…. WE ARE NOW MOVING ONE MONTH SOONER! 🤩🤠 This When we move to Texas we are planning to buy our first home. So of course I bought a book to learn all I could about doing so. I love the “for dummies” series of books and HIGHLY reccomend them when people need to learn stuff. I’ve used a few different ones. This one was great except, a lot of the info does not apply to us. Talking about when to buy for instance, well, that will be when we move and that is when the Army says so. 😂🤷🏻‍♀️ Which by the way…. WE ARE NOW MOVING ONE MONTH SOONER! 🤩🤠 This book did have a lot of great info and I did learn from it. But I also realized I know more ab buying a home than I thought I did.

  25. 4 out of 5

    Lily Evangeline

    WE'RE going to put this one on hold. Realizing it doesn't make a ton of sense to read in depth about investing, when I'm literally not going to be making any money for the next four years??? I'll forget it all anyway. Making a solemn promise to return. to RETURN. At this point I've got at least the basics... or something. WE'RE going to put this one on hold. Realizing it doesn't make a ton of sense to read in depth about investing, when I'm literally not going to be making any money for the next four years??? I'll forget it all anyway. Making a solemn promise to return. to RETURN. At this point I've got at least the basics... or something.

  26. 4 out of 5

    Leonardo Jr

    Thank you for REMINDING AND HITTING me on the head! A VERY GOOD BOOK! three thumbs up!!! "Another problem with seeking to amass wealth is that tomorrow might not come. Even if all goes acccording to plan, will you know how to be happy when you're not working if you spend your entire life making money? More importantly, who will be around to share your leisure time? One of the costs of an intense career is time spent away from friends and family. You may indeed realize your goal of retiring early, Thank you for REMINDING AND HITTING me on the head! A VERY GOOD BOOK! three thumbs up!!! "Another problem with seeking to amass wealth is that tomorrow might not come. Even if all goes acccording to plan, will you know how to be happy when you're not working if you spend your entire life making money? More importantly, who will be around to share your leisure time? One of the costs of an intense career is time spent away from friends and family. You may indeed realize your goal of retiring early, but you mabe putting off too much living today in expectation of living tomorrow....Making and saving money is like eating food....The right amount, perhaps with some extra to spare, affords you a healthy, balanced peaceful existence. Money should be treated with respect and acknowledged for what it is - A MEANS TO AND END..." "...please consider your HIGHER LIFE GOALS AND PURPOSES. What are your non-financial priorities (family, friends, causes) and how can you best accomplish those with the financial resources you do have?"

  27. 4 out of 5

    Akhilesh

    This book goes into extreme detail about the different aspects of investing and assumes that the reader is starting from scratch which was ideal for me. The book is divided into sections including stocks, index/mutual funds, real estate, and property. I focused on the first two sections since that's what I'm interested in right now and the book did a good job of explaining the difference between the different kinds of funds in the market. I used this book as a Kickstarter to do more research on This book goes into extreme detail about the different aspects of investing and assumes that the reader is starting from scratch which was ideal for me. The book is divided into sections including stocks, index/mutual funds, real estate, and property. I focused on the first two sections since that's what I'm interested in right now and the book did a good job of explaining the difference between the different kinds of funds in the market. I used this book as a Kickstarter to do more research on my own about funds online.

  28. 4 out of 5

    DeAnna

    I didn't fully read or even go through this book, which makes sense since it is really sort of a reference book. I got it from the library and probably won't look at it any more for now. This is why I only gave it 4 stars (instead of 5)...because I won't read it super thoroughly at this point. What I liked about it is the organization and ease of use, that this whole series really has going for it. I had also used a Dummies book by one of these authors when we bought our house. This book helped m I didn't fully read or even go through this book, which makes sense since it is really sort of a reference book. I got it from the library and probably won't look at it any more for now. This is why I only gave it 4 stars (instead of 5)...because I won't read it super thoroughly at this point. What I liked about it is the organization and ease of use, that this whole series really has going for it. I had also used a Dummies book by one of these authors when we bought our house. This book helped me realize, within the first few chapters that buying investment real estate is not the right thing for me right now. And, wow...my husband really loves this book now, too...since he wasn't so hot on the idea to begin with.

  29. 5 out of 5

    Mevia

    I am glad I read this book. Although our home-buying process has barely begun, I feel much better about it. We are going to have a short time shopping as it's due to job transfer. I gave the book four stars because as a first-time buyer I would have preferred to have some of the later chapters show up earlier for peace of mind. I knew nothing about any of it! However, I read the whole thing and got to them eventually, so it's good enough. I would recommend reading this a year or two before you p I am glad I read this book. Although our home-buying process has barely begun, I feel much better about it. We are going to have a short time shopping as it's due to job transfer. I gave the book four stars because as a first-time buyer I would have preferred to have some of the later chapters show up earlier for peace of mind. I knew nothing about any of it! However, I read the whole thing and got to them eventually, so it's good enough. I would recommend reading this a year or two before you plan to buy because earlier chapters advise you to start saving for your down payment and how to invest. While it does not pertain to everyone, it is better to have your game plan going. Good luck!

  30. 5 out of 5

    Jennifer Defoy

    I've read this book a few times, in parts. Overall I think the information that is provided in this book is very useful. But it is very basic. I am currently pursuing a business degree and I am finding there is so much more to the concepts and ideas that are presented in this book. I've read this book a few times, in parts. Overall I think the information that is provided in this book is very useful. But it is very basic. I am currently pursuing a business degree and I am finding there is so much more to the concepts and ideas that are presented in this book.

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