The everyday investor was not prepared for the Great Recession that shook the world in 2008. And too many have found themselves repeatedly wrong-footed by the markets in the eventful years that have followed; the excessive risk-taking that characterized the precrisis zeitgeist gave way to the hunker-down mentality of the postcrisis period, leaving behind a wide swath of investors whose extreme risk aversion prevented them from participating in the fourth-longest bull market in history.

And while the relentless advance of markets off their 2009 troughs has made it look easy for those with the fortitude to remain fully invested, in truth the world—and the investment environment—has grown more complex, not less. The crisis-entrenched Euro Zone, a doubling down on unconventional monetary policy by global central banks, and ever-evolving geopolitical risks are but a few of the factors giving investors inclined toward skittishness ample justification for their fears.

Fortunately, we have Jacob Gold to help make sense of it all. I’ve had the pleasure of working closely with Jacob in my capacity as spokesperson for the Voya Global Perspectives program and find myself consistently impressed with his planning and investing acumen. As he did with his 2009 release Financial Intelligence: Getting Back to Basics after an Economic Meltdown, Jacob in his new book delivers practical, real-world advice for investors in search of a comprehensive plan for their assets. Money Mindset: Formulating a Wealth Strategy in the 21st Century seeks to shape the financial mindset for this young century by drawing a parallel between our nation’s rapid ascent toward energy independence and the individual investor’s quest for financial independence.

Money Mindset shows readers how to create a plan to grow wealth, protect it, and transfer it to future generations. Jacob advises thinking of the many areas that contribute to a successful retirement—from the various funding sources like pensions, insurance, social security, and retirement savings vehicles to the shifting asset allocation over time—holistically and always in the context of an investor’s end game. This latter factor is key and demands of investors an honest, forthright, and realistic assessment of their wants, needs, and objectives, both now and in retirement.

Knowing the risks to accept and manage versus those to transfer can mean the difference between a successful financial plan and one that falls short. Throughout Money Mindset, Jacob offers diversification techniques that can help mitigate a portfolio’s vulnerability to fickle global markets, while also highlighting the disparate opportunities energy independence may present for a number of sectors, industries, and consumers that maybe don’t immediately come to mind.

Jacob’s insights and experience make this an important book not only for the general public but for financial professionals as well. As a third-generation wealth manager, planning and investing is, as Jacob says, “somehow embedded in my DNA.” A close read of Money Mindset will serve anyone without this expertise imprinted in their genetic code.

—Douglas Coté, CFA
Chief Market Strategist
Voya Investment Management
New York, NY

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