This is the last part of a review of Ric Edelman’s audio book “No-Nonsense System for Building Wealth.” This review began here . The audio program contains an extended pitch for long-term care insurance. See this essay for a discussion of some of the things to look out for with this type of insurance. According to a Consumer Law Page article (the web page with this article has disappeared since the time of writing), “sales agents are driven by high commissions” in the long-term care insurance business. I don’t know whether it is a good idea to buy long-term care insurance or not, but it would seem that those who sell it make good money. Some good advice Let’s not focus entirely on the negative side. On the positive side, the CDs were nice and round. I’m just kidding. Here are some of the good points made in this audio book. · Make a realistic financial plan consistent with your goals. · It’s okay to start investing with small amounts. Just keep saving. · Avoid frequent inves...

Many people will need long term care at some point usually late in their lives, and this care is expensive. The insurance industry offers long-term care insurance to pay for this care. However, you have to be aware of the many possible abuses with this type of insurance. This Consumer Law Page article provides an excellent explanation of long-term care insurance and the types of abuse and fraud that are possible (the web page with this article has disappeared since the time of writing). Disclaimer: I have no affiliation with the law firm associated with this article. The abuses include such things as loopholes that allow the insurance company to deny benefits, lack of inflation protection, and targeting seniors by getting them to churn their policies. Churning refers to the practice of getting someone to buy a “new and improved” policy every year to boost premiums and boost the salesperson’s commissions. There is another problem that probably would never have occurred to me, but ...