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Enough Bull: How to Retire Well without the Stock Market, Mutual Funds, or Even an Investment Advisor Paperback – Aug 12 2009

3.3 out of 5 stars 16 customer reviews

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Product Details

  • Paperback: 224 pages
  • Publisher: Wiley; 1 edition (Aug. 12 2009)
  • Language: English
  • ISBN-10: 0470161272
  • ISBN-13: 978-0470161272
  • Product Dimensions: 15 x 1.1 x 22.7 cm
  • Shipping Weight: 272 g
  • Average Customer Review: 3.3 out of 5 stars 16 customer reviews
  • Amazon Bestsellers Rank: #128,185 in Books (See Top 100 in Books)
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Product Description

From the Inside Flap

The one book your bank REALLY does not want you to read.

More than ever before, Canadians are frightened and stressed out about their retirement and financial future. With the mortgage, car payments and credit card bills, there never seems to be enough to pay the current bills let alone save thousands in RRSPs. At the same time, the large financial institutions are bombarding us with fearful messages of destitution unless we maximize our RRSP contributions.

The stock market crash of 2008 has proven one thing: traditional retirement planning advice simply doesn't work. The risks are too enormous. Throwing money into RRSPs and trusting the stock market is like gambling with your family's future. But how do you plan for retirement without risking everything? In Enough Bull, David Trahair explains:

  • How to invest only in 100% safe investments that will never decline
  • How to get out of mutual funds and the stock market - forever
  • The "Tax Turbo-Charged RRSP strategy" - why you should wait until you are over 50 to start your RRSP
  • Exactly what age to elect to receive the CPP pension
  • How to avoid the scams that lead to personal financial disaster

Easy to understand and simple to apply, Enough Bull shows Canadians how to avoid all the traps and why doing the exact opposite of what they have been told will leave them much further ahead.

www.enoughbull.ca

From the Back Cover

The one book your bank REALLY does not want you to read.

More than ever before, Canadians are frightened and stressed out about their retirement and financial future. With the mortgage, car payments and credit card bills, there never seems to be enough to pay the current bills let alone save thousands in RRSPs. At the same time, the large financial institutions are bombarding us with fearful messages of destitution unless we maximize our RRSP contributions.

The stock market crash of 2008 has proven one thing: traditional retirement planning advice simply doesn't work. The risks are too enormous. Throwing money into RRSPs and trusting the stock market is like gambling with your family's future. But how do you plan for retirement without risking everything? In Enough Bull, David Trahair explains:

  • How to invest only in 100% safe investments that will never decline
  • How to get out of mutual funds and the stock market - forever
  • The "Tax Turbo-Charged RRSP strategy" - why you should wait until you are over 50 to start your RRSP
  • Exactly what age to elect to receive the CPP pension
  • How to avoid the scams that lead to personal financial disaster

Easy to understand and simple to apply, Enough Bull shows Canadians how to avoid all the traps and why doing the exact opposite of what they have been told will leave them much further ahead.

www.enoughbull.ca

See all Product Description

Customer Reviews

Top Customer Reviews

Format: Paperback
David Trahair has done it again. I closely followed his advice in his last book (Smoke and Mirrors) and as a result avoided the carnage of 2008. After reading Enough Bull I have to say that it's even better and more to the point than Smoke and Mirrors. Yes, it is a very conservative approach to investing but that's the whole point of this strategy - to sleep soundly at night knowing that your retirement funds are OK. No, you're not going to make some 'black-swan' - type extraordinary gains using Trahair's tactics, however, you will not have to worry whether or not your portfolio is going to blow up on the eve of your retirement (something that tens of thousands of Canadian boomers have experienced as a result of sheepishly handing over their money to the banks' 'actively' managed mutual funds). If you're a middle-class investor who's looking to stash away some funds for your golden years this is the best $20 that you'll ever spend. I've bought over 10 copies of this book already for my friends and relatives. Thank you Mr. Trahair for your contrarian insight that anyone can understand and follow. Every Canadian should have a copy of this book before investing a penny. it's the perfect counterbalance to the barrage of propaganda that's unleashed on the public every RRSP season.
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Format: Paperback
Full disclosure: I do not know Mr. Trahair, the publisher, nor do I work in the financial industry. However, I actually read this book.

The author has written a book that is simple enough for a worker like myself to understand, while also providing plenty of evidence to support his arguments. I actually found his arguments so clear and rational that I am applying his advice.

I would like to reply to the criticisms that this book has received:

The book makes a clear, long-term argument in support of GICs compared to the stock market during the same period of time. Trahair does not merely cherry pick 2008 and 2009. To say that GICs only look good in comparison to the recent crash is false. For readers that insist on earning massive (unrealized) gains, we will see in a year or two if they can still make those claims. Unlike GIC holders in CDIC-covered institutions, they cannot offer guarantees.

The accusation that the book ignores the implications of income tax and inflation on GICs is also false. Remember, I read the book, and the author does provide a convincing argument in support of the GIC compared to mutual funds (for example).

The concern that the book is going to convince people suffering in this recession to pull out of their stocks before they (possibly) recover is completely false. Trahair clearly states that this situation is painful, but generally recommends that people in this situation hang on to recover their money. Once that is achieved, they should move over to GICs (after clearing all of their debts, of course).

When reviewers with credentials like "CFP" make false accusations about this book, I wonder what their motivation is. You decide who is giving you bad advice; I have made my decision.
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Format: Paperback
I love to invest in equities, and have been generating an average of a 25% return this year, but I bought this book to see the other extreme. With the crash of 2008, a lot of people will think a 4-5% return is pretty decent now compared to the 40% loss last year. This book suits investors 55 and over, as it avoids the risks of the stock market in favor of safe guaranteed investments like GICs and government bonds. There is good advice on CPP and how to get the best out of that, but otherwise most younger investors like myself will find this approach too boring, too safe.
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Format: Paperback
Thanks to Mr. Trahair for allowing Canadians to enjoy a cup of coffee again without feeling that they are destroying their future financial security. The best advice for sound financial management that I have read in a long time. While some mega financial experts tout mutual funds with 12% returns but considerable risk, or advise to attempt to make RRSP contributions, debt repayments, and establish emergency savings, all while paying down a mortgage, Mr. Trahair establishes a commonsense approach that any of us with depression-era parents will find comfortingly familiar and irrestibly exciting. An excellent read!
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Format: Paperback Verified Purchase
Great book for those who have little faith in risky investing especially for those in the 50+ age category.
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Format: Paperback Verified Purchase
Some good advice but not practical to find GIC type investments that yield > 5% to avoid risk.
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Format: Paperback
I have read this book front to back. It has some very sound advice and not so great advice.

1. You don't need an investment advisor. - Maybe yes, Maybe no. If you don't understand the market, it probably isn't a bad idea to get a one to start off, They know more than you so it's better than nothing. A better idea would be to learn more about the market and do it yourself. However a good advisor would not have anyone close to retiring allocated to more than 20% in equities, so the crash should not have been a big deal. If anything crashes present buying opportunities.

2. Stay out of the stock market. - This is the biggest problem in the book.
This should depend on your age and investment time frame. People that are close to or retired could definitely use his advice, his laddered GIC method would work very well. Young people will not be able to fund their current standard of living without the stock markets. The problem is not the stock market but greed and the lack of diversification. Diversification is not just picking different stocks in different sectors and countries, it also includes different assets. A mix of equities, fixed income and cash.

The author chooses to cherry pick examples against the stock market to make his argument.

Had everyone taken his advice and sold all their equities during the market crash of 2008, they would never recovered most of their losses in the past 2 years. He should mention that historically the steeper the crash, the faster the recovery. It is incorrect to use the average stock market return of 5-6% to calculate how long it will take to recover your losses. He also excludes dividends in his rate of return calculations. Why is this? Are they not part of your rate of return.
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