Finance Book

Are your personal finances in order? Are you saving money and allowing your investments to grow or are you paying heavy interest the wrong way on credit card debt? It matters, and even if you are in your twenties or thirties it still matters. Why? Because the sooner you start planning for your non-working years the more worry-free your retirement years will treat you.

It is for this reason perhaps that I’d like to recommend a very good book to you. It is two decades old now, but it is one of the books I read that helped me retire early (age 39). If you will follow this book and perhaps do a little reading of similar current books, as some of the laws have changed, then together this learning experience will allow you to retire early and carefree too. The book is: “Retire Worry Free – Financial Strategies for Tomorrow’s Independence” by Michael E. Leonetti; Longman Financial Services Publishing; division of Longman Financial Services Institute, Inc, 1989.

Mr. Leonetti, has a financial services and financial planning background and his common sense approach is a breath of fresh air compared to the hype that so many personal financial “How to” books present their information. This book is broken into 2-parts; Part I asks the reader simple questions and then allows them to compare notes as to where they are now and where they need to be. Questions such as:

Do you have a retirement plan? Do you know why you had better?

As well as; How to pick goals, and chart your direction towards retirement and which choices are prudent and why? Thus allowing the reader to create a lifestyle for your later years.

In Part II, Leonetti, associated the reader with key points of contention such as; Understanding risks and How to take financial inventory; how to do Estate Planning and the very basics of Investing. Also are tips on how to live on a budget, within your means, and the art of stretching your money. Please consider this book and the wisdom within.

By: Lance Winslow

Erlend Peterson’s title of chapter one is: Rich or Poor, It’s Your Choice. Throughout the book Peterson gives the reader just that – a choice whether or not he/she chooses to become rich (financially) or struggle without wealth. He claims that “most of the people around you will continue to make the wrong choices.”

Not wanting to be classified as “most of the people” I was eager to delve into “Rich by Choice” to see if, according to Peterson, I was on the correct track. I was also enthusiastic in learning new ways of creating or sustaining wealth. Peterson did not let me down.

One thing Peterson is clear about is that being rich is having $2,000,000 or more in liquid assets – cash, mutual funds, annuities, stocks/bonds, and the cash value of a life insurance policy. It does not mean a huge house, a new expensive car, nor does it mean taking long vacations. Basically, what it does mean is the investments can be sold for cash or left to grow to generate income. Peterson also adds that real estate, which has a net profit of 20% or more, can be considered as a liquid asset.

Peterson’s “Rich by Choice” is a simple tool that is concise and accurate. If using the seven-step plan presented by Peterson, one can’t help but be wealthy. He presents plans for people in the 20-40 year old range with earnings of $40,000, $70,000, or $120,000 per year. His number one step, one that is repeated in most wealth sustaining concepts, is to invest a minimum of 10% of all income. Using charts to prove the simplicity of the concept, Peterson maps out the process using his seven-step plan.

But, this book isn’t only for those in the beginning stages of their life-time financial freedom. Peterson also addresses it’s never too late to start financial planning – yes, even if you are over 50, and/or near retirement age.

In “Rich by Choice” Peterson encourages and motivates readers to look at personal financial practices. He further prompts the reader to set long-term financial goals and put the seven-step plan into motion. How easy is that? It is very easy – it just takes desire and determination to achieve.

By: Irene Watson

This is a book review of “The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family’s Financial Health”.

Description: Just as it says this step-by-step guide will help put you on the right track to making the right financial decisions for you and your family. Not only for right now but for years to come.

Review: I was in the book store the other day browsing for a book that might help me with my finances. I wasn’t looking for something that would help get me out of debt or to change the way I had my finances set up, but something that would help make the most of my money. Believe it or not I found this book and it had exactly what I was looking for.

This is one of the most informative books I have read on financial planning. It walks you through some of the most difficult areas in the finance world. I was saving for my child’s college and wasn’t thinking about needing an emergency fund. After reading this book and implementing some of these ideas I have both a college fund and an emergency fund. I’m not even strapped for money doing this.

Everything in this book is down to earth and practical. Anyone can use the information to gain control of their finances. It’s easy to understand and pretty much walks you through the entire process.

It also gives you some confidence in yourself so that you make the right choices. His faith based ideas and the courage to lay it all out there is a confidence builder on its own.

I believe this book to be a good choice for everyone. From the young gun to the older, well balanced person, there is something in this book that will help no matter where you are on the finical scale.

By: Richard T. Tyler