What do you think?
Rate this book
Worth It ... Not Worth It?: Simple & Profitable Answers to Life's Tough Financial Questions
Credit or debit? Rent or buy a house? Buy or lease a car? Take or decline the rental car insurance? Renovate the kitchen or finish the basement? Buy stocks or mutual funds?Every day we are forced to make financial decisions, but the right answers all seem to require complicated, mind-numbing research. And who has time for homework when you're paying for a bag of Fritos at 7-11? Or filling out a payroll form on the first day of a new job? Thankfully, there's WORTH IT . . . NOT WORTH IT?WORTH IT . . . NOT WORTH IT? demystifies complex, real-world dilemmas and breaks the answers down into simple, Do This/Not That solutions. Organized around six basic topics-Getting Started, Shelter, Automotive, Investing, Family Matters, and Retirement-this handy book is the Swiss Army knife of personal finance.
256 pages, Kindle Edition
First published January 1, 2012
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 30 of 42 reviews
January 17, 2013
I love finding little books like this, something simple that will hopefully give me the sort of help/advice I'm looking for. Sadly, while it looks good on the surface, this book doesn't really fit the bill.
Oh, there's good advice here, such as choosing the credit union over the bank, using your credit card over your debit card for things like gas (anyone who has ever been burned by the "hold" they place on your account has learned that lesson the painful way) and major purchases (fraud and damage protection), buy & hold over timing the market.
But for much of the rest of the advice here, there's one thing you need first: money. Otter advises buying over renting, pretty much what every other financial advisor will tell you. And that's fine, but it's almost worthless advice if you don't have money in the first place. I dare you to tell someone that you know for a fact is living paycheck-to-paycheck that they're crazy for renting, that they should take advantage of the low, low rates and bargains on houses right now. And I find it funny that the author advises buying, then turns right around and also says you should go with the 30/20 rule, that is, a 30-yr fixed-rate mortgage with 20% as a down-payment. OK, if I had that sort of money in the first place, would I have picked up this kind of book? Yeah, probably not. And what Otter and every other financial advisor seem to forget is that it's not just the mortgage. Sure, I could probably swing paying a mortgage payment right now, especially if we were able to find a house/mortgage that would have us paying approximately the same amount we pay right now where we rent. But there's also the increased costs to think about, too: the insurance for the home, the utilities, the taxes, the incidentals you have to purchase to care for said home (like a lawn mower). Once you factor in those costs, it's a bit of a different picture, one that isn't often discussed.
The section on investing has the basic advice I expected, but again, you have to have the money to invest in the first place. If I'm barely able to put food on the table, I have no business worrying about whether I should be stocks or get into a mutual fund. It's that sort of thing that a lot of advisers miss out on, the do you or do you not already have some money? I don't think one needs to be rich to start taking some of this advice, but yes, one does need to have some discretionary income at best. And let's face it, a lot of people these days are just not in that boat. Many are still licking their wounds from the Great Recession, still trying to keep their heads above water.
Short and simple, which I'll admit is nice. But disappointing overall.
Oh, there's good advice here, such as choosing the credit union over the bank, using your credit card over your debit card for things like gas (anyone who has ever been burned by the "hold" they place on your account has learned that lesson the painful way) and major purchases (fraud and damage protection), buy & hold over timing the market.
But for much of the rest of the advice here, there's one thing you need first: money. Otter advises buying over renting, pretty much what every other financial advisor will tell you. And that's fine, but it's almost worthless advice if you don't have money in the first place. I dare you to tell someone that you know for a fact is living paycheck-to-paycheck that they're crazy for renting, that they should take advantage of the low, low rates and bargains on houses right now. And I find it funny that the author advises buying, then turns right around and also says you should go with the 30/20 rule, that is, a 30-yr fixed-rate mortgage with 20% as a down-payment. OK, if I had that sort of money in the first place, would I have picked up this kind of book? Yeah, probably not. And what Otter and every other financial advisor seem to forget is that it's not just the mortgage. Sure, I could probably swing paying a mortgage payment right now, especially if we were able to find a house/mortgage that would have us paying approximately the same amount we pay right now where we rent. But there's also the increased costs to think about, too: the insurance for the home, the utilities, the taxes, the incidentals you have to purchase to care for said home (like a lawn mower). Once you factor in those costs, it's a bit of a different picture, one that isn't often discussed.
The section on investing has the basic advice I expected, but again, you have to have the money to invest in the first place. If I'm barely able to put food on the table, I have no business worrying about whether I should be stocks or get into a mutual fund. It's that sort of thing that a lot of advisers miss out on, the do you or do you not already have some money? I don't think one needs to be rich to start taking some of this advice, but yes, one does need to have some discretionary income at best. And let's face it, a lot of people these days are just not in that boat. Many are still licking their wounds from the Great Recession, still trying to keep their heads above water.
Short and simple, which I'll admit is nice. But disappointing overall.
July 13, 2012
Good quick read!
from "Retirement": Step number one: Save till it hurts. Use an online calculator to size up your needs--T. Rowe Price and Fidelity both have good ones.
page 111: If you're not wealthy, buy a policy that will pay for three years of care, which will be less expensive than a policy that guarantees coverage for as long as you need it. A long-term care association study found that only 8 percent of 106,000 customers making claims exhausted the benefits on three-year policies.
When shopping for a plan, check the insurance company's rating at thestreet.com, moodys.com, and standardandpoors.com. For added protection, only consider companies with decades of history selling LTC--Genworth, Prudential, and Northwestern Mutual are the big players. You'll want a plan with flexibility, so that home health care, adult day care, assisted living facilities, residential care, and nursing homes are all covered.
Buy a policy in your 50s, which is early enough that you should be healthy and get a decent rate. And let your kids know that you're spending big bucks to ensure that their guest room never becomes Paw-Paw's Pee-Pee Palace.
from "Retirement": Step number one: Save till it hurts. Use an online calculator to size up your needs--T. Rowe Price and Fidelity both have good ones.
page 111: If you're not wealthy, buy a policy that will pay for three years of care, which will be less expensive than a policy that guarantees coverage for as long as you need it. A long-term care association study found that only 8 percent of 106,000 customers making claims exhausted the benefits on three-year policies.
When shopping for a plan, check the insurance company's rating at thestreet.com, moodys.com, and standardandpoors.com. For added protection, only consider companies with decades of history selling LTC--Genworth, Prudential, and Northwestern Mutual are the big players. You'll want a plan with flexibility, so that home health care, adult day care, assisted living facilities, residential care, and nursing homes are all covered.
Buy a policy in your 50s, which is early enough that you should be healthy and get a decent rate. And let your kids know that you're spending big bucks to ensure that their guest room never becomes Paw-Paw's Pee-Pee Palace.
May 10, 2012
such good advice! Everything is kept very simple so that all of us everyday normal people who don't have a finance degree can understand and use the advice in our lives. The book starts with the advice that all of our financial decisions are simple and that we don't need to make them hard or listen to anyone who wants things to be complex. I love how clearly everything is spelled out and how each section has little sections within it and questions to help you decide what is best for your situation. Very very good!!
December 21, 2012
A quick look at answers to financial decisions comparing your options and giving some basic answers, this book lets you know that, in the long term, it's better to invest in stocks than gold, but even better to invest in timber. It's better to invest in a 529 for your kid's education than to give the kid a similar amount of money. That college tuition for a child born in 2012 will probably be over $500,000. That long-term care insurance is good if you can afford it. If you can't afford an open-ended policy, try one that pays only for three years.
There are some things that aren't that clear cut. For instance, whether to rent or buy a home (depends on where, how long, if you can do maintenance, etc.) or whether to buy a diesel or a hybrid (depends on how you drive). In short, this is a fun and short primer on some basic financial questions.
There are some things that aren't that clear cut. For instance, whether to rent or buy a home (depends on where, how long, if you can do maintenance, etc.) or whether to buy a diesel or a hybrid (depends on how you drive). In short, this is a fun and short primer on some basic financial questions.
August 18, 2018
A quick read that covers the basics of personal finance, primarily geared toward young people (twenty and thirty-somethings.) I learned a few things (how my investments are protected if the company where I invest goes bankrupt, for example), but at times the book felt a bit dated. It was published in 2012, with lots of references to how the economy was at that time. It's only been six years, but things have changed. For example, I nearly laughed out loud when I read this sentence in the "Buy vs. Rent" section: "Houses won't be skyrocketing in cost anytime soon." Hahaha*sobs*. Seriously, though, I would recommend this book to those looking for an easy-to-grasp primer on financial basics, because basic rules like "pay yourself first" and "don't put all your eggs in one basket" never go out of style.
August 23, 2018
Like that book "Eat This? Or This?" Otter compares two like things with one page per per comparison to break complicated financial matters down into easy-to-understand logic. I struggle with this stuff, so I'll take all I can get. I specifically learned (again) what's better: term or whole life insurance? Collect Social Security at 62 or 70? Take the insurance or decline? Diesel vs. hybrid? Etc. I also learned when it's better to use a credit card and when to use your debit (when I had previously had a NEVER CREDIT CARD policy) and that it's much cheaper to retire in a foreign country. It took a long time to read in little bits before bed because my brain starts to hurt after a few pages, but he did a good job educating me and his advice seemed genuinely helpful and logical. I recommend for new adults and adults of all ages if they didn't already learn this stuff before.
January 7, 2015
Great concise read for anyone who wishes to buck up their financial literacy. That is to say, most people should probably read this little book. Covers a broad range of topics in plain English, and is full of things one can actually implement to become more financially responsible.
November 3, 2017
This was an ok book. I'd say about 75% would apply to me. I did like the options and other things I wouldn't have thought of that I'll now research a little and look into, but some of the things in there were something I wouldn't even do or have a reason to do. It does say that that option isn't for everyone though, so at least this book is honest. It was a shorter read and got to the point-which I liked...a lot. ;) Good but not great. Good luck
November 26, 2019
Simple, concise and to the point. This book will answer just about all your life's financial questions! The major themes covered are fundamentals/basics, shelter, automotive, investing, family matters, and retirement. I highly recommend to anyone who is short on time but need quick answer and/or guidance to all types of financial decisions and questions from simple ones like buy organic or conventional to more complex ones like leveraged vs. unleveraged.
January 22, 2018
Very quick read. This is a great book for young adults and newlyweds. Very quick THIS vs THAT financial decision rational with a basic explanation. They will not all be applicable to every reader but I think enough will apply to make the book worth the quick reading time.
December 3, 2021
The book was written in 2012 so it is almost 10 years old. It has some useful nuggets on what to do and not do ranging buying a house to renting, investing tips, family matters and more.
Its a quick read.
Its a quick read.
March 19, 2018
Common sense stuff I’ve mostly figured out by my age.
September 23, 2019
Had a few good takeaways
December 31, 2019
Concise, simple little book that provides basic information on several of life's financial decisions.
January 10, 2020
This book was phenomenal in my opinion. It let me know that I am on the right track. This book is great for Students who are entering into their senior year.
February 17, 2020
Quick tips mostly for people who dont know anything about money but still a couple for those who do.
October 2, 2020
Great, easy to digest practical advice. Only wish there were more (e.g., buying a used care vs. a new car) and infographics/charts instead of large numbers to illustrate points.
August 5, 2021
Just a simple art book a lot of pictures minimal content was easy to follow along learn some stuff it was basically a this or that page for what your choices are with a quick reading was fun
May 24, 2023
4 stars for "Paw-Paw's Pee Pee Palace."
May 16, 2013
I thought this was a pretty great book on some simple economic ideas. Each issue focuses on pretty commonplace decisions like hybrid vs diesel, allowances for kids, buying a house, etc and breaks it down into simple terms. However, Otter isn't afraid to qualify situations in which one option might be preferable over the other rather than black and white advice but this is done at a level that adds to the discussion without too much distraction. In the end, he almost has some pretty solid advice. The section on investments does get more complicated than the rest of the book, to the point where some of it even felt a little bit above my head but I felt like this concepts were at least within my grasp even if it wasn't an instant realization. Otter does not neglect the value of personal enjoyment at the cost of the optimal economic choice either. The size and format make it a great "bathroom book," meaning that it's easily digestible in short increments and you can always flip around to the topics you are most interested in. I found the author's initial note and constant references to economic experts convincing in terms of his ability to comment from an educated perspective on the issues. This would make a great graduation present (definitely better than Oh, the Places You'll Go! by Dr. Seuss) because a young adult may 1, actually read this and 2, would learn some beneficial economic ideas applicable to real world concerns if they do so. I'd definitely recommend taking a look at this- for someone with a little bit of economic knowledge it's interesting and written in an entertaining way with quick witty stories from a personal perspective. On the other hand, if you don't already know the answers to these questions, this may help you have a stable and satisfying economic future in the long run.
March 5, 2014
Easily digestible (usually two pages per topic, much of them taken up by photos), usually decisive [occasionally a sidebar gives qualifiers, but most of the time he has a firm preference re what you should do], pithy advice on a wide range of financial decisions from major (rent or buy house? get long term care insurance?) to minor (give your kids an allowance or pay them to do specific chores?)
Some of it is very well-known if you read about personal finance at all (should I try to time the market? No), but other stuff (at least to me) less familiar [fixed annuity vs. managed payout fund, e.g.].
For anything very complicated, you'd probably want to do additional research, but there was something refreshing about just getting brief conclusive input rather than a statement to the effect that the whole thing is incredibly complicated, culminating in "check with your tax advisor" or what not, as so many financial advice columns conclude.
Some of it is very well-known if you read about personal finance at all (should I try to time the market? No), but other stuff (at least to me) less familiar [fixed annuity vs. managed payout fund, e.g.].
For anything very complicated, you'd probably want to do additional research, but there was something refreshing about just getting brief conclusive input rather than a statement to the effect that the whole thing is incredibly complicated, culminating in "check with your tax advisor" or what not, as so many financial advice columns conclude.
May 17, 2016
It is alright, specifically if you are a beginner when it comes to issues in finance. Not for the advanced reader. The only other problem is that the author gives his opinion versus just explaining the concepts and letting the reader decide what's best. There were multiple issues I did not agree with him on, and which the author states as fact. If you need basic background and want to get an opinion this could be a good book for you, as long as you plan on reading several more to get a balanced view of the issues at hand. The photos are nice, and its very easy to read so I gave it 3 stars for the layout.
March 5, 2013
This book is easy to read and made sense to me which is more than I can say for many financial books. It has an interesting layout, and read like a magazine. The lessons were sensible and nicely laid out, and could be consumed in mini sessions.
Some of the lessons didn't really apply to me, but it was interesting to get an overview of important issues in finance from a non-biased source. I immediately started implementing some of the suggestions in my daily life. My only wish is that I had read this 10 years earlier when I was in college!
Some of the lessons didn't really apply to me, but it was interesting to get an overview of important issues in finance from a non-biased source. I immediately started implementing some of the suggestions in my daily life. My only wish is that I had read this 10 years earlier when I was in college!
March 28, 2013
I went into this book with a "that's an interesting concept, we'll see how it goes" mentality. The first two chapters were incredible. I felt a bit old for most the advice - move out of your parents house or not sorta thing but immediately thought of several young 20 somethings I know who would benefit from the book. And, then, the last chapter - I felt entirely too young for. I'm not making the decision of where I get to retire yet.
So, great format, good advice but a little scattered. Had the author asked "who is my target audience", this could have possibly even been a 5 star for me.
So, great format, good advice but a little scattered. Had the author asked "who is my target audience", this could have possibly even been a 5 star for me.
November 12, 2013
Thoroughly enjoyed this book. This book asked the most often asked financial questions and actually answered them with basic reasoning. The book is broken up into various chapters that really do cover quite a bit of a person's financial life. Even if the reader is beyond the age of some of the information, for example, moving out of your parents house, I'm sure they can still appreciate the information.
I liked this book and it even asnwered some of the questions I haven't asked yet. Thanks!!
I liked this book and it even asnwered some of the questions I haven't asked yet. Thanks!!
January 20, 2014
Clearly aimed at young adults, this book focuses on various life decisions primarily from a financial standpoint. Should you buy or rent a house? Should you date that person or is it inappropriate? What kind of car should you get, and should you lease or buy? How should you handle basic investments? Should you live with Mom & Dad or go solo? Organic or conventional produce? Personal trainer or solo workouts?
It's pretty basic, but that works in its favor. This book is clear, concise, and to the point, and the eye-catching graphics and charts add some flavor.
It's pretty basic, but that works in its favor. This book is clear, concise, and to the point, and the eye-catching graphics and charts add some flavor.
April 17, 2015
This book gives you quick and direct financial advice from should you use a credit or debit card to how to invest. If you've ever wondered if it's better to rent or buy a house or buy or lease a car this book is for you. It helps you see short-term and long-term benefits in a variety of situations and addresses how some advice has changed in recent years. It is organized by six basic topics: Getting Started, Shelter, Automotive, Investing, Family Matters and Retirement.
Read
April 4, 2013Ever wonder if using debit was better than credit? Or how about buying organic versus regular fruits and vegetables? In this informative yet fun and easy to read book, Jack Otter goes through many of life's tricky financial questions by giving you all the pros and cons of each this vs. that scenario. This book is definitely worth it to read! -- Jennifer W-O
April 18, 2012
This cuts straight to all the most important financial questions, and answers them with simple ease. Really smart and helpful.
June 23, 2012
This book is like Eat This, Not That for finances. I think it will become a popular gift for grads and newlyweds.
Displaying 1 - 30 of 42 reviews