Personal Financial Planning

Rating:
Summary: Comprehensive, needs more instruction
Review: I happen to have Victor Hallman's class at the Wharton School, and we use this as the text. As a result, I have had the unfortunate task of committing to memory large portions of this book. In general, I find the book to be thoroughly comprehensive in describing financial products and planning techniques. Hallman and Rosenbloom are conservative, and they incorporate a sophisticated knowledge of both tax law and financial theory. This volume, however, is somewhat outdated in that it does not include the 2001 tax relief act that phases out the estate tax and lowers the highest federal income tax bracket. In addition, I think that the book lacks instruction. Specifically, there should be more hypothetical scenarios of individuals in certain financial scenarios and suggestions about what tools they can use to improve their situation. That would make it more accessible to the average reader instead of simply the professional planner.

Rating:
Summary: Comprehensive, needs more instruction
Review: I happen to have Victor Hallman's class at the Wharton School, and we use this as the text. As a result, I have had the unfortunate task of committing to memory large portions of this book. In general, I find the book to be thoroughly comprehensive in describing financial products and planning techniques. Hallman and Rosenbloom are conservative, and they incorporate a sophisticated knowledge of both tax law and financial theory. This volume, however, is somewhat outdated in that it does not include the 2001 tax relief act that phases out the estate tax and lowers the highest federal income tax bracket. In addition, I think that the book lacks instruction. Specifically, there should be more hypothetical scenarios of individuals in certain financial scenarios and suggestions about what tools they can use to improve their situation. That would make it more accessible to the average reader instead of simply the professional planner.

Rating:
Summary: Very Practical;no nonsense
Review: I read this book when it was still in its 3rd edition. I was just beginning to learn about investing but I didn't know WHO to ask and I didn't trust alot of the hype that was out there. This was pre-1987 plunge. I found this to be a no nonsense book; particularly helpful for "first-timers". I appreciate that it didn't endorse any particular investment entity or product.

Rating:
Summary: Comprehensive survey of planning strategies
Review: In 1975, the first edition of this book pointed out that personal financial planning is an extension of consumerism. Planning with objectives in mind helps consumers analyze the different financial products individually and in coordination with each other.

The process has gotten so complex that few families can do it without help anymore. This edition has been updated and expanded to include more description of insurance, mutual funds, investment strategies, and retirement and estate issues. The authors' main bias is in favor of the planning process per se, not any one particular approach.

Rating:
Summary: When can we expect the sixth edition?
Review: In the preface to the fifth edition (1993) references are made to the tax law changes of the late 80's up to and inclusive of 1990. Since we are into 1999 and there have been interim tax law changes is a sixth edition in the works?

Rating:
Summary: Very thorough book.
Review: We require advisors and brokers to read this in our firm. It's not totally inclusive, but NO book is. But for the average person, there is more here than they even need. This is the book for professionals to brush up on and know all facts.