Pound Foolish
Exposing the Dark Side of the Personal Finance Industry
If you’ve ever bought a personal finance book, watched a TV show about stock picking, listened to a radio show about getting out of debt, or attended a seminar to help you plan for your retirement, you’ve probably heard some version of these quotes: “What’s keeping you from being rich? In most cases, it is simply a lack of belief.” —SUZE ORMAN, The Courage to Be Rich “Are you latte-ing away your financial future?” —DAVID BACH, Smart Women Finish Rich “I know you’re capable of picking winning stocks and holding on to them.” —JIM CRAMER, Mad Money They’re common refrains among personal finance gurus. There’s just one problem: those and many similar statements are false. For the past few decades, Americans have spent billions of dollars on personal…
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December 31, 2013HELAINE OLEN is a freelance journalist whose work has appeared in The New York Times, The Washington Post, Slate, Salon, Forbes, BusinessWeek, and elsewhere. She wrote and edited the popular Money Makeover series in the Los Angeles Times. She lives in New York City with her family. Follow her on Twitter at @helaineolen.