Taking Stock: A Spiritual Guide to Rising Above Life's Financial Ups and Downs

225 Pages·2003·0.87 MB·English

by  Rabbi Benjamin Blech

TAKING
STOCK
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TAKING
STOCK
A Spiritual Guide to Rising Above
Life’s Financial Ups and Downs
Rabbi Benjamin Blech
ForewordbyMonsignorJamesP.Lisante
American Management Association
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LibraryofCongressCataloging-in-PublicationData
Blech,Benjamin.
Takingstock:aspiritualguidetorisingabovelife’sfinancialups
anddowns/BenjaminBlech;forewordbyJamesP.Lisante.—1sted.
p. cm.
Includesbibliographicalreferencesandindex.
ISBN0-8144-0787-0
1. Investments—Psychologicalaspects. 2. Stocks—Psychological
aspects. 3. Finance,Personal. I. Title.
HG4515.15.B58 2003
332.024—dc21
2003008506
(cid:2)2003BenjaminBlech.
Allrightsreserved.
PrintedintheUnitedStatesofAmerica.
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inanyformorbyanymeans,electronic,
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Printingnumber
10 9 8 7 6 5 4 3 2 1
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With the love that only a father can have for his son,
I dedicate this book to Ari—
who never stopped helping, advising, editing, and
adding his creative talents.
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Contents
ForewordbyMonsignorJamesP.Lisante .............. ix
Preface .......................................... xi
Acknowledgments ................................ xv
Introduction ..................................... 1
CHAPTER1
SayGoodbye—It’sReallyGone .................... 5
CHAPTER2
No,You’reNotStupid ............................ 11
CHAPTER3
HowMuchAreYouWorth? ........................ 21
CHAPTER4
HowExpensiveIsaGuiltTrip? .................... 26
CHAPTER5
MoneyIsn’tReallyYourBestFriend ................ 31
CHAPTER6
WealthorHealth? ............................... 39
CHAPTER7
WhatWouldYouDowithIt?....................... 45
CHAPTER8
‘‘ThouShaltNotCovet’’ .......................... 53
CHAPTER9
WhatYouHaveLeft .............................. 62
vii
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Contents
viii
CHAPTER10
DidtheMoneyReallyBuyYouHappiness? ........... 73
CHAPTER11
OhNo,NotChapterEleven ....................... 82
CHAPTER12
It’sGod’sFault ................................. 83
CHAPTER13
IsThereLifeAfterFailure? ........................ 90
CHAPTER14
AreYouBeingTested? ........................... 104
CHAPTER15
PessimismIsDeadly ............................. 114
CHAPTER16
AreYouAfraidofSuccess? ........................ 124
CHAPTER17
GreedIsNotGood .............................. 132
CHAPTER18
GotoaFuneral ................................. 141
CHAPTER19
WhytheBibleIsBetterthanBuffett ................ 150
CHAPTER20
StartingOver ................................... 167
CHAPTER21
TheFortuneYou’reGoingtoLeaveBehind .......... 179
AreYouFeelingBetterNow?PrescriptionsforEachDayof
theWeek ........................................ 189
Index ........................................... 201
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Foreword
One of the great paradoxes is how much time and energy we
must devote in this life to acquiring something that is of no
value in the life to come-whether we conceive of this future
life as the memories that our loved ones have of us, or as our
own personal immortality. Money, which seems an indispens-
able companion in the here and now, must be left behind at
theborderofthegrave.
And never did money seem more indispensable than in
America at the end of the twentieth century. The remarkable
stock market of the late 1990s held out the promise of wealth
for nearly everyone who could take advantage of it-with the
encouragement of those seemingly ‘‘in the know.’’ People
who never before expected such prosperity in their lives
began to take their good fortune for granted. Our society,
which has always had a strong tendency to equate value with
price,seemedmorewealthobsessedthanever.
Now, the first years of a new century bring the cold light
of dawn and the realization that there is no such thing as a
risk-free investment or an ever-climbing stock market. For
many, especially the relatively inexperienced new investor,
this has come not merely as a disappointment, but as a life-
alteringexperience.Allkindsofplans-fromstartingafamilyto
preparing for retirement-have been put on hold. No wonder
manypeoplefeelseriouslydisoriented.
Rabbi Blech tells us that he shares this experience first-
hand, and so understands very well what others are going
throughalongwithhimself.But,ashemakesabundantlyclear
ix
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