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The purpose of this book is to provide an easy to follow guide to the basic steps of managing your
overall financial future. Even if you have not already started to plan your financial future the next
best time to start is NOW !
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This book was intentionally written to be very brief. Ideally you should be able to read the entire book in approximately one hour and better understand the basics of personal finance. You may want to read this book several times over the years to reinforce the concepts that follow.
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Although most everyone dreams of being financially independent the statistics show that most individuals will not achieve this dream.
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Most failures are not due to lack of desire or income. Failure is due to lack of a sound financial plan.
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Whether you are 20-something, or 50-something, the power of compounding interest, particularly on a tax deferred basis, is a tremendous way to save money.
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Remember, your financial future is not something to be left to chance.
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Did you know ?
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The stock market average annual rate of return since 1929 has been approximately 10%.
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Saving $200.00 a month for 40 years, at 5% interest, could result in more than $300,000 saved.
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Contributing $4000.00 a year for 40 years, into a plan such as an IRA, that earns 5% interest, could be worth more than $500,000. |
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A healthy 30 year old, non-smoking male, can get a $350,000 - 20 year term life insurance policy for as low as $25.00 per month.
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By paying one additional monthly mortgage payment per year you can payoff a 30 year mortgage in only 23 years, therefore saving thousands in interest charges.
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The average 401K balance in 2010 was approximately $67,000 and the average social security monthly check amount was $1,067.00.
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Please send questions, inputs or comments to bill.wallner@avnet.com
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