East Brunswick, N.J. (June 4, 2003) -- There’s only one rule when it comes to investing and financial planning -- at least according to CPA firm Mendlowitz Weitsen, based here.

The firm recently put out the “Investing and Financial Planning Rule Book,” -- a 58-page book with only one rule and 50 blank pages. “If you don’t understand the advice, assume the person telling it to you is wrong. Don’t assume that because it is complicated and a specialty you do not have, that the advisor is correct,” the guide advises. “Never be embarrassed to say you don’t understand. If you don’t understand something about your finances, most likely it is the wrong thing for you to do.”

“We wanted to emphasize the point that if you don’t understand something, you can’t go ahead with taking the advice you’re given and putting it into good use. You need to understand the financial advice you receive to be successful with it,” said Kristen Farrar, the firm’s marketing coordinator. The guide was the brainchild of partner Ed Mendlowitz.

“We’ve gotten a good response. We printed over 200 copies and we only have three left,” Farrar said. “Everyone that sees it lets out a little chuckle.” The guide was given to some attendees at last week’s New Jersey Accounting Business & Technology Show in Secaucus, but the firm will send a copy to anyone requesting it for $5.00 to cover postage. Contact Farrar, KEF@mwllp.com

-- Melissa Klein

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access