Thus without even legislating the separations of the Chairman role from that of President from that of the CEO, we may achieve that automatically, since few will be willing to take all these roles for “only” 250K a year. And overall the public would be better off, since few, even highly capable and ethical people can juggle major roles in major corporations well, even if they commit themselves to the jobs for 70-80-90 hours a week (plus working incessantly is unhealthy for anyone’s judgement or wellbeing).

Busy CEOs will be also less inclined to serve on many boards, if 90% of their stipend goes to taxes. Thus a simple tax code change can elegantly substitute dozens of messy regulations.

With these changes, regulating agencies, like SEC, would be able now to attract top talent much easily, since while they can conceivably pay up to 250K a year to match the would be going rate of the most CEOs, no government agency can afford paying millions to anyone, no matter how talented they are (especially giving the political consequences of such a salary) .

There could be of course some exemptions to tax law when it comes to the small businesses, that are formed as partnerships and LTDs, as opposed to corporations. And there could be a few exemptions that allows bonuses taxed at a lesser rate, when the executives of corporations show exceptional results and leadership over the long run. The overall effect, though, should lead to a much smaller corporate inequality, when compared to what an entry worker earns to the pay of a CEO, and not incidentally to a much greater corporate governance !
Rating: 4 / 5

I also purchased “The Total Money Makeover” by Mr. Ramsey and I think “The Money Answer Book” is a good introductory book before you tackle “The Total Money Makeover” as it will accustom you to both the basic financial topics and Mr. Ramsey’s style.

This book is great for young people just starting out in the real world and even middle age people who want to get their finances under control and on track. Mr. Ramsey even says that you can retire comfortably if you start saving even at age 60!

I always thought that to be wealthy, you had to work really long hours or you had to be super smart or privileged. The section on the investing really opened my eyes. Mr. Ramsey easily explains how to invest your money (safely and securely) so that you can make your money work for you and retire a millionaire or at least gain more wealth. Actually, if you have the discipline, retiring a millionaire is not really hard at all. (and he doesn’t talk about gambling your money in stocks, his strategies are all secure investment strategies.)

His examples are to-the-point and very easy to understand and they make sense. You won’t finish reading this book and scratch your head with confusion. I think after reading this book, you will only get fired up to start getting your finances under control.

I should note that this is not one of those self-help books where all you hear is “you can do it” and “yes you can” and stuff like that. This book gives you a plan, ideas, and FACTS. But, like Mr. Ramsey says, it all has to do with discipline and vision. You have to set the goal and discipline yourself to get there. If you can’t do that, then not a whole lot of people can help you.

I wish my parents gave me this book when I graduated high school.

I highly recommend this book. It will only help you.

Rating: 5 / 5

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
Rating: 4 / 5

We’ve never read any of Dave Ramsey’s other books. We haven’t sought guidance from anyone but God Himself and have been faithful tithers since being filled with the Holy Spirit for the first time over a year ago. The one book we did get into was “Family Finances” by Joe McGee. We purchased that book when he came to our church and it helped us immensely. Looking into a book with considerably more polish, I was interested to see how someone who’s nationally syndicated would hit the biblical points of family finances.

From the beginning, “The Money Answer Book” touts itself as an easy to use book where you can find answers to any questions you might have about money. The trouble I’ve always had with books like this is “What if I don’t fall into any of the categories that are in the book? Within the framework of ten basic areas of finance, Ramsey brings a very broad brush to the notion of money and how it effects one’s life. Since budgeting is something that my wife and I have worked on most recently, I turned to that section and began reading. That’s one of the beauties of this book. You don’t have to read from cover to cover (unless you want to, obviously) and you can quick reference as you go.

Something I find as I get deeper into scripture is that when someone comes to me with advice, I want to see how it ties into God’s word. That’s an element that I didn’t get with this book. Not that EVERY piece of advice needs an accompanying scripture, but taking the time to mention that you should give a 10th of everything you have to the Lord is a given for a true believer. Those who know Ramsey, like my Mom for example, aren’t believers. They see him as a “religious” person who is good with money. Sure, he’s a fine person with a good head on his shoulders. I’ve seen signs about his simulcasts outside of churches I pass by all the time, but the fact of the matter is that when it comes to matters of money, God is the one who has already given us everything we need to know about everything we could ever experience.

Dave Ramsey puts things in a fine perspective when it comes to matters of money. The format of “The Money Answer Book” fits into the bustling world of the current American family. It’s a super quick read that answers a lot of questions using little bits of information. It’s definitely a great jumping off point for further discussion and reading of other books, especially in the area of Budgeting. Pick it up and browse through it before you buy. If something raises up and smacks you in the face, spend some money and buy it!
Rating: 3 / 5