Price Waterhouse Personal Financial Adviser

Black Enterprise, May, 1996 by Kimberly Seals McDonald

When you consult a personal advisor, you expect clear, concise answers to your questions. On that note, the Price Waterhouse Personal Financial Adviser delivers. Published by the Big Six firm's Personal Finances Services Group, the book dispels the myths that cloud financial visions and lays out the simple faces of money management. It also dismisses long-held notions about the affordability of financial planning, and explains municipal and Treasury bonds and retirement and estate planning.

The authors explain how the investing phenomena of compounding interest, dollar-cost averaging and tax deferrals can work for you. They also answer common questions about mutual fund prospectuses and financing your child's college education. They've included planning worksheets, charts and tables for the more market savvy reader.

Just as the Cheshire Cat advised Alice in Wonderland, "It doesn't matter which way you go if you don't know where you're going," so too with financial planning, says Michael van den Akker. One of the book's contributors, van den Akker is a partner at Price Waterhouse's West Regional Division of the Personal Financial Services Group.

Unlike some magical jaunt to a world of make-believe, the book guides you on a journey to a place called financial equilibrium. The road to reaching this state is outlined in a 10-step process that begins with a commitment of time and effort. The process ends with monitoring and evaluating the results. At least once a year, ask yourself, "How am I doing?" to see if your goals or strategies need to be revised.

According to the authors, financial equilibrium is a lifelong concept that means striking a balance between your financial resources, investing needs and spending patterns. Included in that mix are your personal values, family goals, investing time frame and tolerance for risk and certainty. As a result, you stand prepared for whatever curveballs life throws your way.

"Just like the comfort that theft or car insurance gives, knowing that your finances are in order contributes to your emotional well-being," says van den Akker.

Price Waterhouse Personal Financial Adviser, Irwin Professional Publishing; $15; 800-634-3966.