Let's Talk Money

✍ Scribed by James A. Barry

• Year: 2003
• Tongue: English
• Leaves: 272
• Category: Library

✦ Synopsis

Statistics on rising debt, stagnating retirement savings, mistrust of the stock market, and lack of tax planning are symptoms of a population desperately in need of financial education. Learning how to make money is one thing. It's quite another to manage the money that's earned. Knowing the difference and taking the right actions can translate into a comfortable life instead of disaster, contends Jim Barry, CFP, founder of The Barry Financial Group and host of television programs Talk About Money(r) and Jim Barry's Financial Success(r). In this enthusiastic back-to-basics money guide, Jim Barry brings passion and decades of experience to the task of educating everyday working people about their finances and how they can build a secure future no matter where they're starting. He addresses the readers' underlying attitudes and values, then brings to the table an arsenal of wealth-building principles that, used consistently, can create a solid financial foundation. A host of practical, nuts-and-bolts tools gives readers the means to translate these commonsense financial principles into positive and prudent action. Along the way, in easy-to-understand language, they learn proven steps to: •Manage the money they make. •Think long term to build wealth. •Understand and deal with risk wisely. •Put all the pieces of the financial puzzle together. Inspiring and practical, this is the guide for gaining control over financial issues while building wealth for the future.

✦ Table of Contents

PREFACE......Page 11
ACKNOWLEDGMENTS......Page 15
PART ONE: SHAPING YOUR VIEWS AND ATTITUDES......Page 19
CHAPTER 1: MAKING THE COMMITMENT Values and Attitudes......Page 21
IT’S UP TO YOU......Page 24
WHAT IS MONEY?......Page 27
MORE WASTING ASSETS......Page 31
THE BOTTOM LINE......Page 32
THE “NO DECISION” DILEMMA......Page 33
CHART YOUR FLIGHT PLAN......Page 34
IDENTIFY YOUR WEAKNESSES......Page 35
TAKE CONTROL......Page 37
GET RID OF THE NOISE......Page 38
THE BOTTOM LINE......Page 42
IT CAN HAPPEN TO YOU......Page 65
BENEFITING FROM TAX CHANGES......Page 69
TAX RELIEF......Page 71
GENERAL TAX-SAVING TIPS......Page 78
THE BOTTOM LINE......Page 81
THE MONEY EQUATION......Page 83
SETTING YOUR GOALS......Page 85
SECRETS TO FINANCIAL SUCCESS......Page 90
THE BOTTOM LINE......Page 96
PART TWO: ESTABLISH YOUR OWN TRADITION OF WEALTH MANAGEMENT......Page 97
WHERE’S THE CASH FLOW?......Page 99
COPING WITH DOWN MARKETS......Page 104
THE ROLE OF FAMILY RELATIONSHIPS......Page 107
THE BOTTOM LINE......Page 111
CHAPTER 6: UNDERSTANDING RISK......Page 129
PRINCIPLES TO FOLLOW......Page 131
MEASURING RISK: THE INVESTMENT PYRAMID......Page 132
REALITY CHECK......Page 136
THE BOTTOM LINE......Page 137
CHAPTER 7: THINKING LONG TERM......Page 139
UNDERSTANDING THE EQUATION......Page 140
STAY THE COURSE......Page 141
PAY YOURSELF FIRST......Page 143
THE EXIT PLAN......Page 148
THE ACHILLES HEEL OF FINANCIAL AND ESTATE PLANNING......Page 151
THE BOTTOM LINE......Page 159
GROUND RULES AND STRATEGIES......Page 161
DOING IT RIGHT......Page 169
INVESTMENT VEHICLES......Page 170
THE BOTTOM LINE......Page 178
CHAPTER 9: STOCK MARKET BARGAINS The Sale Is On......Page 179
FORGET THE HERD......Page 180
HOW GOOD ARE YOU AT PICKING STOCKS?......Page 184
SOME OF THE BASICS......Page 188
THE BOTTOM LINE......Page 190
CHAPTER 10: ESTATE PLANNING WITH YOUR HEIRS IN MIND......Page 193
UNCLE SAM’S TAKE......Page 194
ESTATE PLANNING ISSUES AND TOOLS......Page 197
TRUST OPTIONS......Page 202
THE BOTTOM LINE......Page 210
CHAPTER 11: HIRING THE RIGHT ADVISORS......Page 211
THE BIG GAMBLE......Page 212
WHAT TO LOOK FOR IN AN ADVISOR......Page 214
BEYOND THE CREDENTIALS......Page 217
CHAPTER 12: PUTTING IT ALL TOGETHER......Page 221
WEALTH-BUILDING BASICS......Page 222
MORE SECRETS TO SUCCESS......Page 223
THE TIME LINE......Page 225
RULES OF THE ROAD......Page 227
THE BOTTOM LINE......Page 229
GLOSSARY......Page 233
REFERENCES......Page 249
INDEX......Page 261
ABOUT THE AUTHOR......Page 269