I'm Not Flipping Burgers When I'm 70

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New Art Technologies, 2004 - Business & Economics - 347 pages
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Everyone wants to be rich but that isn't reality for most of us. The richest people being a miniscule percentage have as much wealth as the rest of the population. Now this doesn't mean that you have to be rich to live a fruitful and successful life, but let's face it: most people are and will be, middle class. This means you will be working for someone else for the rest of your life. There are also those who make a nice living, but they still have go to work everyday. There are also those that work for themselves and make decent livings or become affluent. There are all types of income classes and you may be in all of them at some point. The one constant that is applicable to these types of income classes, is that no one is immune from having to be responsible with their money. This book was written so that you can learn principles that will allow you to make sound decisions affecting your future and anyone associated with your life.
 

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Contents

INTRODUCTION Setting the Table
1
The Budget
6
The Budget
7
Costs Versus Expenses
11
Budget Maintenance
19
Transactions and More Transactions
27
Home Ownership
30
Rent or Buy
31
The Telephone Bill
166
The Cellular Phone Bill
172
Auto Insurance
180
Tips When Searching For a New Car
190
Lease or Buy and Automobile
193
Should I or Shouldnt I?
197
The Grocery Bill
199
Personal Services
202

Ready to Purchase
33
Owning a Home
38
Types of Mortgages
45
10 and 15year Mortgages
47
Adjustable Rate Mortgage ARM
50
The ARM after the Fixed Rate Period
54
Negative Amortization
57
Monthly ARM
60
Second Mortgages and Equity Lines of Credit
62
Piggyback Loans
66
Interest Only
72
Other Types of Mortgages
74
Ready to Buy Ready to Sell
77
Sprucing Up to Sell
79
Finding a Mortgage Lender
85
The Good Faith Estimate GFE
90
Finding An Agent
96
Your Selling Price and the Agents Price
100
For Sale By Owner
104
You Are the Buyer
108
Buying and Selling a Home
111
Leading Up to the Closing
113
Negotiation
117
The Inspection
122
The Appraisal Process
126
Homeowners Insurance
129
Escrow
133
The Closing
136
After the Closing
140
Assessed Value and Your Taxes
142
26Payment Plan With Your Lender
146
Refinancing
148
Taking A Deeper Look
152
Controlling Your Financial Stability
154
Buying Products From the Internet
204
Credit Cards
206
Flexible Spending and Health Savings Accounts
209
Bridge Loans
212
Fixed or Prime Rate
214
Have an ARM All of the Time
216
Escrow Accounts
219
Home Warranty
221
Investing
223
401k Plans
226
Other Retirement Plans
233
Traditional IRAs and Roth IRAs
236
Stocks
241
Finding Information About Stocks
248
The Broker
251
More Ways to Purchase Stocks
254
When to Sell Your Stocks
256
Mutual Funds
259
When to Sell Your Mutual Funds
263
Investment Clubs
265
Savings Bonds
267
College Savings Plans
272
Life Insurance
278
Investment Strategy
281
Putting it All Together
285
The Recap
286
Personal Finance Overview
290
The Reality of it All
293
About the author
297
Budget Spreadsheets
298
Resources
301
Glossary
307
Index
322
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