Time Is Money: A Million-Dollar Investment Plan for Today's Twenty- And Thirty-Somethings

Leonard, author of Women & Money, has written an upbeat financial-advice book for people in their 20s and 30s. Rather than attempting to account for every imaginable financial disaster, Leonard wisely focuses on one key issue--accumulating as much money for retirement as possible. Aided by very convincing statistics, she shows the importance of saving early: someone who invests $96 every month, starting at age 23, in an investment that earns an average of 10% annually, would accumulate a million dollars by the time he or she reaches age 67;on the other hand, if someone doesn't begin saving until he or she is age 42, that person would have to save $677 every month in order to have saved a million dollars at age 67. Leonard introduces an easy-to-understand four-step program to achieve this goal. These ``steps to a fortune'' include figuring out how much money you can set aside regularly; finding an investment that earns 10%-12% interest; using a tax-deferred account such as a 401(k) plan; protecting your money against inflation and against the unexpected. Other chapters on the stock market, mutual funds, pension plans and other aspects of financial planning are also included. Probably most helpful to the many overspenders in the audience will be the section on managing debt and making the most of credit. Leonard's easy-going writing style with humorous quips should appeal to the intended readers. (Jan.)