Foreword by Peter J. Hathaway
Speaking to you as an institutional portfolio manager working on domestic equity portfolios for the last thirty-five years, I can tell you that it is quite different developing and managing your own personal accounts using your own goals and objectives.
For me, it was a case of "the cobbler's son has no shoes," as I had neglected my own portfolio. What a great resource Julie's book, Managing Retirement Wealth, has been in helping me organize and access my individual needs and objectives based on my risk parameters.
Many of us have a "random assortment of assets," consisting of IRAs, CDs, savings accounts, 401(k)s, and other miscellaneous financial assets accumulated over a lifetime, that lacks an overall plan. This is not an easy task to solve, but Julie's book provides the framework for you to organize and manage your personal portfolio now and in the future.
You will benefit from Julie's knowledge and practical experience, which she has gained from helping others in the portfolio management process. It will help you choose wisely and avoid costly mistakes.
One of my favorite topics is her discussion of goals: "Investment objectives are goals. The big difference between having a collection of investments and having a portfolio is pursuing goals, actually making decisions that lead to the accomplishment of those goals, and keeping track of progress by monitoring your portfolio."
As you begin the process of managing your portfolio, you will find this not to be an easy task, but well worth the time and effort you put into it. Julie's book will prove to be an invaluable guide.
—Peter J. Hathaway (retired), former Portfolio Manager for GE Asset Management's U.S. Equity Large Cap Value Strategy, responsible for portfolios with assets in excess of $10 billion
Foreword by Jonathan Dahl
In the world of personal finance, these are surely historic times of unprecedented change. A generation of Americans could once count on enjoying an easy retirement, thanks to the generosity of their employers and a combination of the robust housing and stock markets. That has all changed, of course: only a third of mid- and large-size American firms offer pensions these days, and the country's real estate bust has wiped out $3.3 trillion in market value in homes in five years.
Throw in the stock market crash of 2008, which battered people's 401(k) plans and sent many investors' carefully built portfolios essentially back to square one, and you have yourself a perfect storm for developments in personal finance.
But there is good news: help is on the way.
Investors today have more places to turn to for advice, including a growing number of books that deal with personal finance in a smarter way than before. The idea that a bookstore could fill a shelf with successful personal finance books would have been unthinkable a decade ago. Now, as Americans try to make sense of their future, these sorts of titles are coming out in great numbers, with advice and insights for all levels of investor.
In your hand is one such publication: Julie Jason's Managing Retirement Wealth.
It is a great way for anyone trying to pick up the basics—or go beyond them—as they build a strategy for a new economic climate. And in an age with so many economic uncertainties, Julie's book is as good a place as any to bone up on the bewildering but rewarding task of putting our futures in order.
—Jonathan Dahl, Editor in Chief of SmartMoney, the personal finance magazine from The Wall Street Journal
Foreword by Charles Rotblut
Your net worth is highly dependent on how well you manage your portfolio. Your ability to make the right decisions and follow the correct strategies will determine whether you have enough money to retire and enough to last you throughout your lifetime.
Yet, as important as this concept is, most people tend to be reactive, instead of proactive, with their investing. Decisions are often made based on what the market is doing rather than with the long-term goals in mind. If this describes you, do not feel bad.
Most people have not been given a comprehensive guide on how to effectively manage their portfolios. Rather, investing is commonly thought about in terms of what stock, bond, mutual fund, or ETF should be bought. Significantly less attention is given to what mix of securities and funds should be held in one's portfolio. As result, many investors find that their knowledge of how to manage a portfolio is acquired through trial and error.
Complicating matters is the volatility of the stock market. Two bear markets occurred over the past ten years, causing havoc with most investors' portfolios. The result was a lost decade with many people still not recouping the wealth they lost.
Yet, some investors weathered the storm and actually increased their net worth. What was their secret to success? These successful investors effectively managed their portfolios using the time-tested rules that Julie Jason explains in this book.
They stayed focused on their long-term goals and kept their investment risk at levels they were comfortable with. This gave them the luxury of not having to be reactive to the market's volatility, while ensuring they have enough wealth to last them a lifetime.
If you have not placed an emphasis on how you manage your portfolio, now is the time to do it. Julie will show you how.
—Charles Rotblut, CFA, Vice President, American Association of Individual Investors and Author of Better Good Than Lucky