Financial Jiu-Jitsu : A Fighter's Guide to Conquering Your Finances

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Format: eBook
Pub. Date: 2010-10-01
Publisher(s): Wiley
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Summary

A unique approach to personal finance that tackles money like a jiu-jitsu fighter would tackle an opponentIn martial arts and personal finance, fundamentals are important. But while failing in Brazilian Jiu-Jitsu may be disappointing, itrs"s nothing compared to failing to build wealth and creating a better future for your family. Nobody understands this better than Scott Ford, a top-ranked financial advisor and Jiu-Jitsu enthusiast. Now, in Financial Jiu-Jitsu, he shows you how to overcome your emotions and state of mind to excel at your investing endeavors. Along the way, Ford teaches you fundamental skills such as automating your savings and investments, the importance of paying yourself first, and managing credit wisely.bull; Compares the patience and practice of the martial arts, specifically Jiu-Jitsu, to investing bull; Offers an approach to adapting to financial change as you move through life, while maintaining the same guiding principles bull; Author Scott Ford is ranked in the top one percent of all financial advisorsThe guiding principles in this book are the foundation of your financial fight plan and the keys to reaching your financial dreams. No matter what punches the market or the economy throws at you, if you follow these principles yours"ll always react well in the face of adversity.

Table of Contents

Foreword
Introduction
Prepare to Win - Now and Forever
Give Back
Pay Yourself First
Automate!
Maintain a Cash Safety Net
Manage Credit Wisely
Get Time on Your Side
Never Procrastinate
Make Reality Your Perception
Follow a Simple and Comprehensive Strategy
Balance and Base What is True Wealth to You?
Step One: Forget Financial Goals (at least for now)
Step Two: Develop your Vision for Your Life
Step Three: Determine Your Specific Goals
Closing the Gap Analyze your Current Situation
Before You Close the Gap: Overcome Your Fear of the Unknown
Step One: Forget about Budgets
Step Two: Make Sure You Have Positive Cash Flow
Step Three: Create a Personal Balance Sheet
Step Three: Keep in Mind the Total Financial Picture
Family Your Family Benchmark
Your Family Benchmark: An Introduction
The Family Benchmark in Action
Time and the Power of Compounding
Tie the Steps Together
Starting Point
Your Team of Advisors 2 is Better Than One: The Power of Respect
Types of Advisors
All Those Initials: Professional Designations
How Financial Professionals Earn Their Keep
Choosing an Advisor
Interview!
Trust - but Verify
Timing What Is Your Investment Strategy?
Stage One: Build an Emergency Fund
Stage Two: Own Your Home
Stage Three: Take Advantage of Tax-Deferred Investments
Stage Four: Max Out 401(k) Match Contributions
Stage Five: Contribute to Traditional and Roth IRAs
Stage Six: Determine How to Invest your Funds
Stage Seven: Diversify into Other Investments
Gain Control Your Estate Plan
Estate Plans: The Basics
Revocable Living Trust
Pourover Will
Health Care Power of Attorney
HIPAA Power of Attorney
Property Power of Attorney
Family Retirement Preservation Trust
Estate Planning Letter
But Don't Simply File Your Plan Away!
Pay Attention to Beneficiaries
Position before Submission Analyze Insurance Needs
Protect Yourself - but Not to the Extreme
Life Insurance
Auto Insurance
Property Insurance
Health Insurance
Disability Insurance
Attitude Life in Retirement
How Much Money Will You Need?
Current Spending Estimate 10-10-4 Rule
Leverage Establish Your Tax Plan
Tax Savings: Homeowners
Tax Savings: Students and their Parents
Tax Savings: Retirement
Love, Discipline, and Dedication Have Your Plan Updated
Conclusion
Afterword
An Overview of the Development and Principles of Jui-Jitsu
Appendix
About the Author
Index
Table of Contents provided by Publisher. All Rights Reserved.

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