A Brookings Institution Press and Harvard University Joint Center for Housing Studies publication Americans are awash in debt, and the U.S. economy is in trouble. Credit undergirds daily life more than ever—it has become one of the defining aspects of American life, and the ramifications are becoming clearer by the day. The already considerable damage from a depressed housing market has been exacerbated by the subprime lender implosion, sending shock waves through the financial sector, international economies, and government at all levels. Most low- or moderate-income people borrow, but that should not be construed as uniformly poor judgment or lack of disciplines—Americans are not borrowing merely to keep up with the Joneses, but too often simply to stay afloat. In Borrowing to Live, the Joint Center for Housing Studies of Harvard University brings together a group of experts drawn from the best of academia, research, and public services. Together with editors Nicolas Retsinas and Eric Belsky, they dissect the worrisome current state of consumer and mortgage credit in the United States and help point the way out of the current struggles. Contributors: Michael S. Barr, Eric S. Belsky, Raphael W. Bostic, Shawn Cole, Amy Crews Cutts, Kathleen C. Engel, Ren S. Essene, Elaine Kempson, Patricia A. McCoy, William A. Merrill, Sendhil Mullainathan, Anthony Pennington-Cross, Elizabeth Renuart, Eldar Shafir, Edna R. Sawady, Jennifer Tescher, John Thompson, Peter Tufano, Susan M. Wachter
Written by a practicing emergency physician, The White Coat Investor is a high-yield manual that specifically deals with the financial issues facing medical students, residents, physicians, dentists, and similar high-income professionals. Doctors are highly-educated and extensively trained at making difficult diagnoses and performing life saving procedures. However, they receive little to no training in business, personal finance, investing, insurance, taxes, estate planning, and asset protection. This book fills in the gaps and will teach you to use your high income to escape from your student loans, provide for your family, build wealth, and stop getting ripped off by unscrupulous financial professionals. Straight talk and clear explanations allow the book to be easily digested by a novice to the subject matter yet the book also contains advanced concepts specific to physicians you won't find in other financial books. This book will teach you how to: Graduate from medical school with as little debt as possible Escape from student loans within two to five years of residency graduation Purchase the right types and amounts of insurance Decide when to buy a house and how much to spend on it Learn to invest in a sensible, low-cost and effective manner with or without the assistance of an advisor Avoid investments which are designed to be sold, not bought Select advisors who give great service and advice at a fair price Become a millionaire within five to ten years of residency graduation Use a "Backdoor Roth IRA" and "Stealth IRA" to boost your retirement funds and decrease your taxes Protect your hard-won assets from professional and personal lawsuits Avoid estate taxes, avoid probate, and ensure your children and your money go where you want when you die Minimize your tax burden, keeping more of your hard-earned money Decide between an employee job and an independent contractor job Choose between sole proprietorship, Limited Liability Company, S Corporation, and C Corporation Take a look at the first pages of the book by clicking on the Look Inside feature Praise For The White Coat Investor "Much of my financial planning practice is helping doctors to correct mistakes that reading this book would have avoided in the first place." - Allan S. Roth, MBA, CPA, CFP(R), Author of How a Second Grader Beats Wall Street "Jim Dahle has done a lot of thinking about the peculiar financial problems facing physicians, and you, lucky reader, are about to reap the bounty of both his experience and his research." - William J. Bernstein, MD, Author of The Investor's Manifesto and seven other investing books "This book should be in every career counselor's office and delivered with every medical degree." - Rick Van Ness, Author of Common Sense Investing "The White Coat Investor provides an expert consult for your finances. I now feel confident I can be a millionaire at 40 without feeling like a jerk." - Joe Jones, DO "Jim Dahle has done for physician financial illiteracy what penicillin did for neurosyphilis." - Dennis Bethel, MD "An excellent practical personal finance guide for physicians in training and in practice from a non biased source we can actually trust." - Greg E Wilde, M.D Scroll up, click the buy button, and get started today!
Against a global backdrop of wartime suffering and postwar hope, Borrowing Life gathers the personal histories of the men and women behind the team that enabled and performed the modern medical miracle of the world's first successful organ transplant. "An extraordinary work. Shelley Fraser Mickle has not only provided a detailed, fascinating documentation of the world's first successful organ transplant, but she has also painted the lives of those involved--doctors, patients, family members--so vividly that the reader is completely enthralled and emotionally invested in their grieved losses as well as their successes. The result is a beautiful tribute to medical science as well as to humanity." Jill McCorkle, NYT bestselling author of Life After Life "Working with Dr. Moore, Dr. Murray and Dr, Vandam to create the painting commemorating their historic operation and the research leading up to it was the greatest adventure of my artistic career. Having my painting on the cover of Borrowing Life renews that excitement, for I know what grand adventure is waiting for the reader." Joel Babb, artist "I was so very pleased to be involved with Shelley as she wrote her captivating, compelling book. I only wish that Ron could be here with me to read it." Cynthia Herrick, wife of the first successful organ transplant donor "Had these men and women not worked diligently to save the life of Charles Woods, I and my 5 brothers and 3 sisters, would not have been born. Charles Woods and Miriam Woods are my parents. It is thrilling to read Ms Mickle's book as it closely mirrors the stories our dad and mom shared with us as children. The amazing thing is that as a disfigured war hero, our dad embraced his appearance as a badge of honor." David Woods Performed at Boston's Peter Bent Brigham Hospital in 1954, the first successful kidney transplant was the culmination of years of grit, compassion, and the pursuit of excellence by a remarkable medical team--Nobel Prize-winning surgeon Joseph Murray, his boss and fellow surgeon Francis Moore, and British scientist and fellow Nobel laureate Peter Medawar. Drawing on the lives of these members of the Greatest Generation, Borrowing Life creates a compelling narrative that begins in wartime and tracks decades of the ups and downs, personal and professional, of these inspiring men and their achievements, which continue to benefit humankind in so many ways.
Everyone knows that the current tax system is unfair. Some of the richest people in America pay no tax, while a huge share of the tax burden falls on the rest of us. A mere glance at the tax code confirms that it is far too complex, with volumes of rules that no ordinary person could possibly comprehend. What is to be done? Some conservatives have called for a so-called flat tax. But a flat tax is not necessarily a simple tax, and "flat" means "more" for most taxpayers: a rise in middle-class taxes to finance tax cuts for the rich. Is there another choice? In clear, easy-to-understand language, Edward J. McCaffery proposes a straightforward and fair alternative. A "fair not flat" tax that is consistent and progressive would tax spending, not income and savings. And if it were collected at its lower levels through a national sales tax, most people would not have to file a return. A supplemental tax on spending for the wealthiest individuals would make the national sales tax progressive. Under McCaffery's system, a family of four would pay no tax on their first $20,000 in spending, and 15 percent on the next $60,000. Only the few families who spend more than $80,000 a year would be subject to the supplemental tax. Necessities would be taxed less than ordinary and luxury items. No one would be taxed directly on savings. The estate and gift or so-called death tax would be abolished, for the simple reason that dead people don't spend. The "fair not flat" tax would fall on heirs when and as they spend their good fortune. Perhaps best of all, most Americans would not have to fill out tax returns. Simpler, more efficient, fairer, and more reflective of America's current social values, McCaffery's "fair not flat" tax could help get us out of the tax mess that politicians and special interests have gotten us into, improving the whole country in the process. Read Fair Not Flat to find out how. “In Fair Not Flat, Mr. McCaffery lays out the case for a consumption tax. He does so in a reader-friendly way, presenting his argument with very few footnotes, equations or technical terms. The consumption of the book, so to speak, is not at all taxing. And its argument is well worth pondering.”—Bruce Bartlett, Wall Street Journal
Against a global backdrop of wartime suffering and postwar hope, Borrowing Life gathers the personal histories of the men and women behind the team that enabled and performed the modern medical miracle of the world's first successful organ transplant. "An extraordinary work. Shelley Fraser Mickle has not only provided a detailed, fascinating documentation of the world's first successful organ transplant, but she has also painted the lives of those involved--doctors, patients, family members--so vividly that the reader is completely enthralled and emotionally invested in their grieved losses as well as their successes. The result is a beautiful tribute to medical science as well as to humanity." Jill McCorkle, NYT bestselling author of Life After Life "Working with Dr. Moore, Dr. Murray and Dr, Vandam to create the painting commemorating their historic operation and the research leading up to it was the greatest adventure of my artistic career. Having my painting on the cover of Borrowing Life renews that excitement, for I know what grand adventure is waiting for the reader." Joel Babb, artist "I was so very pleased to be involved with Shelley as she wrote her captivating, compelling book. I only wish that Ron could be here with me to read it." Cynthia Herrick, wife of the first successful organ transplant donor "Had these men and women not worked diligently to save the life of Charles Woods, I and my 5 brothers and 3 sisters, would not have been born. Charles Woods and Miriam Woods are my parents. It is thrilling to read Ms Mickle's book as it closely mirrors the stories our dad and mom shared with us as children. The amazing thing is that as a disfigured war hero, our dad embraced his appearance as a badge of honor." David Woods Performed at Boston's Peter Bent Brigham Hospital in 1954, the first successful kidney transplant was the culmination of years of grit, compassion, and the pursuit of excellence by a remarkable medical team--Nobel Prize-winning surgeon Joseph Murray, his boss and fellow surgeon Francis Moore, and British scientist and fellow Nobel laureate Peter Medawar. Drawing on the lives of these members of the Greatest Generation, Borrowing Life creates a compelling narrative that begins in wartime and tracks decades of the ups and downs, personal and professional, of these inspiring men and their achievements, which continue to benefit humankind in so many ways.
Here at last are the hard-to-find answers to the dizzying array of financial questions plaguing those who are age fifty and older. The financial world is more complex than ever, and people are struggling to make sense of it all. If you’re like most people moving into the phase of life where protecting—as well as growing-- assets is paramount, you’re faced with a number of financial puzzles. Maybe you’re struggling to get your kids through college without drawing down your life’s savings. Perhaps you sense your nest egg is at risk and want to move into safer investments. Maybe you’re contemplating downsizing to a smaller home, but aren’t sure of the financial implications. Possibly, medical expenses have become a bigger drain than you expected and you need help assessing options. Perhaps you’ll shortly be eligible for social security but want to optimize when and how to take it. Whatever your specific financial issue, one thing is certain—your range of choices is vast. As the financial world becomes increasingly complex, what you need is deeply researched advice from professionals whose credentials are impeccable and who prize clarity and straightforwardness over financial mumbo-jumbo. Carrie Schwab-Pomerantz and the Schwab team have been helping clients tackle their toughest money issues for decades. Through Carrie’s popular “Ask Carrie” columns, her leadership of the Charles Schwab Foundation, and her work across party lines through two White House administrations and with the President’s Advisory Council on Financial Capability, she has become one of America’s most trusted sources for financial advice. Here, Carrie will not only answer all the questions that keep you up at night, she’ll provide answers to many questions you haven’t considered but should.
One of TIME’s Best New Books to Read This Summer “Brilliant—a keen, elegantly written, and scorching account of the American family today. Through vivid stories, sharp analysis and wit, Quart anatomizes the middle class’s fall while also offering solutions and hope.” — Barbara Ehrenreich, author of Nickel and Dimed Families today are squeezed on every side—from high childcare costs and harsh employment policies to workplaces without paid family leave or even dependable and regular working hours. Many realize that attaining the standard of living their parents managed has become impossible. Alissa Quart, executive editor of the Economic Hardship Reporting Project, examines the lives of many middle-class Americans who can now barely afford to raise children. Through gripping firsthand storytelling, Quart shows how our country has failed its families. Her subjects—from professors to lawyers to caregivers to nurses—have been wrung out by a system that doesn’t support them, and enriches only a tiny elite. Interlacing her own experience with close-up reporting on families that are just getting by, Quart reveals parenthood itself to be financially overwhelming, except for the wealthiest. She offers real solutions to these problems, including outlining necessary policy shifts, as well as detailing the DIY tactics some families are already putting into motion, and argues for the cultural reevaluation of parenthood and caregiving. Writtenin the spirit of Barbara Ehrenreich and Jennifer Senior, Squeezed is an eye-opening page-turner. Powerfully argued, deeply reported, and ultimately hopeful, it casts a bright, clarifying light on families struggling to thrive in an economy that holds too few options. It will make readers think differently about their lives and those of their neighbors.
This paradigm-shifting book helps believers understand the process of being transformed by God's grace and truth, and challenges them to be a part of the process of discipleship in the lives of their fellow brothers and sisters in Christ. Counseling One Another biblically presents and defends every believer's responsibility to work toward God's goal of conforming us to the image of His Son-a goal reached through the targeted form of intensive discipleship most often referred to as counseling. All Christians will find Counseling One Another useful as they make progress in the life of sanctification and as they discuss issues with their friends, children, spouses, and fellow believers, providing them with a biblical framework for life and one-another ministry in the body of Christ.
