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Book review

Financial Success, Plan for Wealth and Reap the Profits

Sunday, December 14th 1997, 12:00AM

by Philip Macalister

Financial Success
Plan for wealth and reap the profits

By Peter J Hensley CFP
Published by Howling at the Moon

Financial Success is based on Hensley's work as an advisor and feedback he has had at his Successful Retirement Planning seminars.
It's written as a basic guide to dealing with money management and is easy to read with quirky illustrations and useful recap sections.
Financial Success covers all the essentials such as explaining the different asset classes, addressing the need for a will, explains what people need to look for in an investment and poses a set of questions investors should ask their financial adviser.


The book promotes the need to seek advice from a financial planner, but also suggests for some people the do-it-yourself approach may be the appropriate way to go.
Overall Hensley recommends taking diversified approach to investing and makes his views known on where life insurance such as whole of life and endowment policies fit into the picture (simply they don't). Also there is a chapter on tax and rental houses, which concludes rental properties aren't the panacea to retirement savings as some people think. In fact Hensley draws on his experience as an adviser to illustrate not many people do well out of this form of investment.
Amongst Hensley's list of qualifications is a BA in education. On reading the book one can't help but think he used to be a teacher as the book keeps your attention and is instructive and matter-of-fact.
Overall, it's a simple and worthwhile book for people wanting to start saving and building up their wealth.
It steps readers through the basics and promotes disciplined financial planning.
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