Monday, January 30, 2017

Tennis Pro Retirement Planning: A book you should read "The Gone Fishin' Portfolio" By Alexander Green

If you are a tennis Pro meaning tennis teacher you need to plan for the day when you can no longer put in 8 hour days on the court.  I did that for years and now find it impossible.  Thankfully, I put aside savings.  I hope you are in the early stages of your teaching career and take some suggestions regarding this.  Learn about investing.  That is my advice.  I'm not a financial advisor so all I want you to do start reading and learning.

Here is a good start and having read many books on the subject.

As someone who worked very hard for their money I didn't trust others with my savings so I took the approach of self investment.  I have other friends who did the same successfully.  The important thing is to start early and consistently set aside savings while putting off gratification for things like fancy cars and big homes.  All of these things are common sense.

What follows in the book is specific information on where and how to invest the money you save.

The review below is reprinted from my personal blog which is primarily about reviewing books that I read since reading is one of my biggest pastimes other than tennis which is my lifelong passion.

Review: The Gone Fishin' Portfolio By Alexander Green



This book boils down to two or three simple pages.  These list the portfolios you would use to safely diversify your investments while limiting the effort involved.

Simplicity and Brevity best describe the concept.  I have seen similar recommendations before but not in such a precise and complete discussion with a logical reasoning for this to work.

If you want to just set money aside and let it work then this approach makes sense.

The author also wisely suggests that only you care about your money like you do.  It is true.  Brokers and investment advisors are there to serve their interests and not yours no matter how much they profess otherwise.

Having read so many other investment books in the past I feel jaded on the subject of personal finance. I still found many of his points refreshing and honest as if from a man with no need to worry about what stating such things might cost him in the industry.  He has all he needs according to him so this may explain it.

Regardless, I like the choices involved such as the Vanguard group index funds which have always been my favorites.  His reasoning makes perfect sense based on reducing fees and expenses which over time become a major part of your return.

4.5  Stars **** 1/2   Strongly Recommend