Ultimate Financial Plan - Balancing Your Money and Life

Informationen zum Autor Jim Stovall is among today's most sought-after motivational speakers. The author of fifteen books, including the bestselling The Ultimate Gift and The Ultimate Life , both of which have been made into major motion pictures by 20th Century Fox, he has been a champion Olympic weightlifter, a successful investment broker, and an entrepreneur. He is the cofounder and President of the Emmy Award?winning Narrative Television Network, which makes movies and television accessible for America's thirteen million blind and visually impaired people and their families. In June 2000, Stovall was selected as the International Humanitarian of the Year. Tim Maurer is a financial planner, educator, and blogger. He is Vice President of the Financial Consulate, a Fee-Only® financial management firm in Hunt Valley, Maryland. He teaches financial planning at his alma mater, Towson University, and educates through his blog, TimMaurer.com. Maurer has been a frequent guest on CNBC and featured on ABC's Nightline . The co-host of Money, Riches & Wealth, a weekly Baltimore radio show, he has contributed to the Wall Street Journal , the New York Times , the Washington Post , and Money magazine, among other leading publications. Klappentext The Ultimate Financial Plan From Jim Stovall, author of the bestselling The Ultimate Gift and The Ultimate Life , and financial planning expert, Tim Maurer, comes the latest volume in the acclaimed Ultimate series. Like its predecessors, The Ultimate Financial Plan: Balancing Your Money and Life is sure to have a significant impact on the way we think about money. Examining the connection between actions, thoughts, and feelings when it comes to all things financial, the book makes a revolutionary argument: that the key to getting the most out of personal wealth comes from the contentment found in balancing the influence of money in our lives with personal values and goals. Financial tools?like budgets, bank accounts, 401(k)s, IRAs, education savings plans, and real estate?can play a major role in helping us generate the money we want, but real value comes from investments in our knowledge and understanding, which lead to purpose-filled careers, sleep-at-night security, artistic endeavors, creative philanthropy, fulfilled retirements, and meaningful legacies. In The Ultimate Financial Plan , Jim Stovall uncovers the Timeless Truths of personal finance while Tim Maurer directs you through Timely Applications, making this book an invaluable investment in your future. Zusammenfassung How to build a financial plan that really blends into your lifeThe latest volume in the bestselling Ultimate series, Jim Stovall and Tim Maurer's The Ultimate Financial Plan: Balancing Your Money and Life is a one-stop, comprehensive, personal financial planning book exploring the intersection of money and life. The Ultimate Financial Plan examines the connection between actions, thoughts, and feelings when it comes to all things financial. The key to getting the most out of your wealth, the authors argue, is certainly found in the wise utilization of tools, like budgets, bank accounts, 401(k)s, IRAs, Roth IRAs, education savings plans, and real estate, as well as home, auto, business, health, disability, and long term care insurance, but even more so in the contentment found in balancing money's influence in our lives with personal values and goals.* An insider's look into the recently humbled "Big 3"--the banks, brokerage firms, and insurance companies--and the inner workings that often set their proprietary goals and objectives above all* A critical examination of the role of various financial sales people, advisors, planners, and consultants* A guide to navigating Economic Bias--a conflict of interest involving money--and how it affects every financial deci...

List of contents

Foreword xi
 
Preface xv
 
Acknowledgments xix
 
Introduction xxi
 
Chapter 1 The Gift of Money: Money 101 1
 
The Value of Money 3
 
Money Beliefs 4
 
Chapter 2 The Gift of Purpose: Personal Principles and Goals 7
 
Personal Principles 7
 
Goals 10
 
Chapter 3 The Gift of Discipline: Household Cash Flow 17
 
Personal Financial Statements 17
 
Financial Crises 25
 
Chapter 4 The Gift of Enough: Debt and Financial Freedom 27
 
Financial Freedom 28
 
The Danger of Discontent 29
 
Emergency Reserves 32
 
Bad Debt 35
 
Better Debt 39
 
Economics and Emotions 41
 
The Cure for More 43
 
Chapter 5 The Gift of Discernment: Risk Management Decisions 45
 
The Accident 47
 
Risk Management Techniques 48
 
How Insurance Works 50
 
Chapter 6 The Gift of Security: Life Insurance 55
 
Life Insurance: Why? 55
 
Life Insurance Needs 59
 
Life Insurance: How? 62
 
Life Insurance Wants 67
 
Different Types of Life Insurance 70
 
Purchasing Life Insurance 73
 
Chapter 7 The Gift of Certainty: Auto, Home, and Liability Insurance 77
 
Auto Insurance 79
 
Homeowner's Insurance 82
 
Excess Liability (Umbrella) Insurance 84
 
Chapter 8 The Gift of Health: Health, Disability Income, and Long-Term Care Insurance 87
 
Health Insurance 89
 
Types of Plans 89
 
HSAs and FSAs 90
 
Recent Health Insurance Changes 93
 
Disability Income Insurance 95
 
DI Moving Pieces 96
 
Social Security, Medicaid, and Medicare 99
 
Long-Term Care Insurance 100
 
LTC Moving Pieces 101
 
Chapter 9 The Gift of Clarity: Investing and Portfolio Management 107
 
Stocks and Bonds 109
 
All Things Considered Equal? 111
 
Mutual Funds 112
 
Economic Analysis 115
 
Market Valuation Analysis 117
 
Technical Market Analysis 118
 
Efficient or Not? 119
 
Passive versus Active 119
 
Investing with "Style" 121
 
Relative Return versus Absolute Return 123
 
Index Huggers, Return Chasers, and Risk Managers 126
 
Decisions, Decisions 128
 
Chapter 10 The Gift of Transparency: Annuities 131
 
Immediate Annuities 134
 
Fixed Annuities 136
 
Variable Annuities 137
 
Equity Indexed Annuities 140
 
Annuity Disadvantages 141
 
Annuity Advantages 143
 
Chapter 11 The Gift of Preparation: Tax Planning 147
 
Tax Myths 150
 
Tax Rules 155
 
Chapter 12 The Gift of Learning: Education Planning 159
 
Family Education Policy 162
 
Having The Talk (no, not that talk) 166
 
Education Savings Plan 169
 
The 50 Percent Rule 172
 
Chapter 13 The Gift of Fulfillment: Retirement Planning 175
 
Retirement Past 179
 
Retirement Present 180
 
Retirement Future 180
 
Employer-Sponsored Retirement Plans 181
 
401k Rollovers 182
 
Traditional IRAs 184
 
Roth IRAs 185
 
Traditional versus Roth 186
 
Roth IRA Conversions 187
 
Fulfillment Planning 189
 
Retirement Makeover 193
 
Chapter 14 The Ultimate Gift: Estate Planning 197
 
Wills 200
 
Durable Powers of Attorney 205
 
Advance Directives 206
 
Beneficiary Designations 208
 
Probate 212
 
Estate Tax 214
 
Chapter 15 The Gift of Discretion: Choosing a Financial A

Product details

• Authors: Maurer, Tim Maurer, Tim Stovall Maurer, Stovall, J Stovall, Ji Stovall, Jim Stovall, Jim Maurer Stovall
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 30.09.2011
• EAN: 9781118073537
• ISBN: 978-1-118-07353-7
• No. of pages: 288
• Subjects: Guides > Law, job, finance > Money, bank, stock market; Social sciences, law, business > Business > Business administration; Personal finance, Private Finanzplanung, Finance & Investments, Finanz- u. Anlagewesen