The New Rules of Money: 88 Simple Strategies for Financial Success Today

by Ric Edelman

Are You Playing By the New Rules? Forget what you know about personal finance. The old rules no longer apply. Ric Edelman's 88 strategies, tailor-made for today's economy, will show you how to achieve financial success. Ric is famous for making personal finance fun, and you'll discover how easy it is to put his advice into action! Is it smart to buy company stock with your 402 (k) plan? Discover the right way to handle your company retirement plan.
See Rule #85 Learn why you must carry a big, long mortgage -- and never pay it off!
See Rule #21 Learn why not to invest in the new Roth IRA-and discover the most powerful anti-tax investment available today.
See Rules #69 and #76 Planning to retire? Learn why you won't -- and what you must do instead.
See Rule #88 Find out why those who invest in S&P 500 Index Funds will wish they hadn't.
See Rule #36 Learn why that higher - paying job could actually cost you money.
See Rule #32

Genres: Finance, Nonfiction, Personal Finance

320 pages, Paperback

First published December 1, 1997

Reviews

[Amit · Rating 1 out of 5]

I did not like this book because of some misinformation and simplistic conclusions. This book was written when Real Estate prices knew just one way to go, UP! A lot of advice (avoid index funds, do not pay down mortgage principle etc. goes directly opposite of my thinking)

[Kay Iscah · Rating 2 out of 5]

Back in 1998, I probably would have given this a 3 or 4. It's dealing with timely changes (in laws and taxes), which are interesting to read about now for historical reasons, but might confuse you if were looking for financial advice.

Some of what Edelman says is intelligent even brilliant, but egads, he certainly did his part to contribute to the housing bubble burst. "Never pay off your mortgage" is horrible, horrible advice. This is effectively what my parents did, and we spent most of my teen years worried we were going to lose our home. Only my grandparents moving in saved the day. (Selling their home paid the mortgage on my parents'.)

Having seen the difference between owning your home outright and borrowing against it. I advise pay it off and stop while you're ahead.

Edelman is right that you shouldn't put ALL your assets in your house (off the cuff, I'd say house should be max 25% of you assests), but still...blegh.

His investment advice is very...mmm, he probably knows more about it that I do, but I've read enough on the subject to be skeptical. I think many of his suggestions only work "best" when a long string of "if"s apply. Many of his examples seemed to contradict advice given elsewhere. Roth IRAs were new back then, so not surprising he was skeptical of them. It is a situational thing.

Loved the bit about focusing on being married rather than getting married. Loved the new idea of retirement at the end. There are so very interesting things to know/think about, but you have to turn your discernment on high-blast while you're reading.

His assessment of the "new" tax code is very interesting from a historical "how did we get here" perspective. Insightful comments about the nature of the tax code.

[Alexandria Trusov · Rating 2 out of 5]

This was a Little Free Library find and since I like finances, I thought- what the heck? It hasn’t aged well (although Rule 88 is true). Whole sections on taxes and IRA investments no longer apply. Back in the day, this might have been a 4, but today it’s too dated to be much value.

[Apocalypse Books · Rating 2 out of 5]

Outdated for 2025. Also the constant footnotes in the bottom are annoying.

[Stanley · Rating 4 out of 5]

I agree with 99% of what Ric talk about in this book except when he talk about insurance. The investment world is coming around on that subject. Whole life insurance can be a great risk management tool in a portfolio.

[Ken · Rating 5 out of 5]

All of his books are 1st rate. This is a quick reference read.

[Jason · Rating 5 out of 5]

Unless you're fortunate enough to have your own personal money manager handling all of your finance decisions, you need to read this book. Edelman is spot on.

[Amy Simmy-Sims · Rating 3 out of 5]

Another money book that was good. I learned a good amount that really just solidified more good habits that Rob has taught me about money.

[Paul Sidwell · Rating 5 out of 5]

Top-notch resource for anybody interested in making, saving, and growing their financial stockpile.

[Andy · Rating 1 out of 5]

Really, really questionable advice in this book.

[Tirthankar · Rating 2 out of 5]

This book has been written solely to cater American audience. Not much of insights for people from other countries.