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10 Steps to Financial Success. A Beginner's Guide to Saving and Investing
John Wiley and Sons Ltd, April 1997, Pages: 272
How to save and invest today for a secure financial tomorrow
A sound financial plan is absolutely essential for reaching your long-term goals, whether you want to purchase a new home, pay for a child's college education, or create a retirement nest egg. In this invaluable new guide, investment advisor W. Patrick Naylor provides a 10-step, easy-to-follow savings and investing program that will help you build a secure financial future. A flexible system that can be tailored to your income and risk tolerance levels, this proven strategy shows how to:
- Set short-, intermediate-, and long-term financial goals
- Establish a budget based on fixed and variable expenses
- Organize your banking for maximum benefit
- Create a separate fund for unforeseen emergencies
- Develop a 3-tiered investment strategy that includes mutual funds, dividend reinvestment programs (DRIPs), and individual growth stocks
- Monitor your investments regularly by determining your net asset value (NAV)
Get Started Today!
Establish a Budget.
Organize and Automate Your Banking.
Create an Emergency Fund.
Set Financial Goals.
Develop a 3-Tiered Investment Strategy.
Invest in Mutual Funds Initially (Tier 1).
Diversify Your Portfolio--with DRIPs (Tier 2).
Select Individual Growth Stocks (Tier 3).
Monitor Your Investments Regularly.
Afterword: Stay in Touch.
W. PATRICK NAYLOR is the president of Naylor Financial Services, Inc., an Ohio-based, fee-only registered investment advisory and money management firm. He also lectures to investment groups nationwide and teaches a course entitled Investing on Your Own.