Book Review: Where to Put Your Money NOW

Peter Passell offers a simple, short guide to where you can put your money in a post-financial crisis world.

After the financial crisis of 2008, many people became concerned about what to do with their money. The financial crisis scared people — especially since many of them lost money as the markets crashed. Now, years later, the memory remains, and the economy is far from certain. With so many uncertainties, it is little surprise that ordinary investors are concerned.

However, even though people are worried about their investments, they still recognize that they need to take some risk. Otherwise, they are unlikely to reach their future goals of retirement and financial freedom. This is where Peter Passell's book, Where to Put Your Money NOW: How to Make Super-Safe Investments and Secure Your Future?can help.

Ideas for the New Realities of the Markets

Passell, a Senior Fellow of the Milken Institute, and a best-selling author, provides some insights into how you can build a portfolio that can stand the test of time. He starts out the book with an interesting look at the financial crisis of 2008, and why everything went bad. Passell then moves on to the necessity of rethinking investment strategy, and moving away from the “old way” of doing things.

Once the foundation is laid, Passell follows a logical course to help you shore up your investment portfolio, and create a strategy that works for you. He starts with helping you bullet-proof your savings. While these types of investments aren't likely to set you up for life, Passell points out that a solid savings portfolio is vital to future success. Once you have that covered, it's time to learn about the risk/return relationship, and find out how the right calculated risks can result in returns that can help your finances down the road.

Where to Put Your Money NOW?also takes a look at how to invest for different life milestones, including college and retirement, as well as housing. The book also addresses some of the basics of tax planning as part of your investment strategy. It's vital that you minimize your tax liability while you look for solid returns.

Finally, Passell offers some helpful information on where to go to stay educated. He has written about how to use financial news and resources in the past, and the resources in this book point you to reliable places you can use to keep up with what's happening — and how to take advantage of it. There is also a handy reference at the back of the book that can help you locate information on specific investments. You will also find information on contacting regulatory agencies, just in case.

Overall, I found this a quick, basic read on ideas that can help you shore up your portfolio for what might be coming. It's a practical guide to investing in a new world of uncertainty. While advanced traders are likely to find it a little too basic for their tastes, most ordinary investors will find ideas and insights that can help them build a solid foundation for a good financial future.

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