Legal Notice.................................................................................................. iii Table of Contents......................................................................................... iv Greetings – What to Expect From This Book.............................................1
Chapter One: Wealth....................................................................................3
What Is Wealth?...............................................................................................................3
How Can I Build My Wealth?......................................................................................... 4
Barriers to Becoming Wealthy.........................................................................................4
Chapter Two: Quick Wins – Take Control Now........................................5
Use Your Common Sense................................................................................................5
Find Everyday Savings.................................................................................................... 6
Accumulate an Emergency Fund..................................................................................... 7
Don’t Go Into Debt.......................................................................................................... 9
Find a Good Financial Planner...................................................................................... 10
Watch Your Credit Report............................................................................................. 11
Chapter Three: Fundamentals of Budgeting............................................13
Budgeting – Your Essential Financial Planning Tool....................................................14
The Art of Spending Wisely.......................................................................................... 15
Rebates: Rewards or Rip-Offs?..................................................................................... 16
Retail Therapy Quiz.......................................................................................................18
Should You Be Making Your Budget Now?................................................................. 19
Chapter Four: Get Active...........................................................................21
Organize Your Records..................................................................................................21
Clean Your Personal Finance House............................................................................. 22
Personal Debt................................................................................................................. 23
Planning for Long Term Care Needs............................................................................. 24
Chapter Five: Credit Reports, Cards, and Scores................................... 26
Your Credit Report and Credit Score.............................................................................26
Debunking Credit Card Myths.......................................................................................27
Credit Card Urban Legends........................................................................................... 28
Credit Card Banks Really Are Out to Get You..............................................................30
Credit Score Myths........................................................................................................ 31
Chapter Six: Identity Theft........................................................................ 34
What Identity Theft Can Do To You............................................................................. 34
Sources of Identity Theft............................................................................................... 35
Reduce the Risk............................................................................................................. 39
What To Do if Your Identity Is Stolen.......................................................................... 39
Making a Will ............................................................................................................... 45 Finding the Right Estate Planner................................................................................... 46 Chapter Eight: Investing in Your Home...................................................48
Chapter Nine: Investing Fundamentals.................................................... 50
Why You Should Invest.................................................................................................51
Determine Your Risk Tolerance.................................................................................... 52
Determine Where You Will Invest................................................................................ 54
How Much Money Should You Invest?........................................................................ 56
Chapter Ten: Varieties of Investment....................................................... 58
Types of Bonds.............................................................................................................. 59
Understanding Bonds.....................................................................................................60
Types of Stocks..............................................................................................................61
When To Sell Your Stocks............................................................................................ 62
Online Trading............................................................................................................... 63
Chapter Eleven: Your Investment Strategy............................................. 65
The Importance of Diversification.................................................................................66
How to Choose a Broker................................................................................................67
Avoiding Mistakes......................................................................................................... 68
Investing in Your Future................................................................................................69
Chapter Twelve: Retirement, Your Golden Years...................................70
Plan Ahead, Start Now ..................................................................................................71
Hidden Value in Your Life Insurance............................................................................72
Chapter Thirteen: Your Financial Legacy............................................... 74
Teach Your Children Well.............................................................................................74
In Closing.......................................................................................................................75
Appendix: Selected Resources....................................................................76
The Major Credit Bureaus............................................................................................. 76
Budgeting.......................................................................................................................76
Credit Reports and Scores..............................................................................................76
Debt Reduction.............................................................................................................. 76
Credit Repair..................................................................................................................77
Identity Theft Protection................................................................................................ 77
Competitive Quotes for Financial Services................................................................... 77
“Your Money Plan” Newsletter..................................................................................... 77