Financial Jiu–Jitsu. A Fighter's Guide to Conquering Your Finances

  • ID: 2219966
  • Book
  • 208 Pages
  • John Wiley and Sons Ltd
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What is mind over market?

The financial market is like an adversary that′s bigger, faster, and stronger than you as an individual investor could ever hope to be. Financial Jiu–Jitsu: A Fighter′s Guide to Conquering Your Finances evens the playing field, showing you how to be a smarter fighter in the battle for financial freedom.

From year to year and even minute to minute, financial markets change, sometimes dramatically. The average investor grapples with this fact in one of two ways: fear everything and do nothing, or get emotionally caught up in Wall Street′s every move, reacting impulsively and irrationally to each up or down. There′s a third option. And if it′s your hope to achieve a firm financial footing, it′s your only option master the guiding principles of finance to achieve mind over market, expertly and effortlessly adapting to and overcoming market swings. Financial Jiu–Jitsu shows you how to master the basic principles of finance to:

  • Overcome fear
  • Set aside emotions
  • Build a financial foundation that can be leveraged to build real wealth regardless of what the market throws at you

Everyone′s fighting a battle for financial freedom. Most are losing. Financial Jiu–Jitsu shows you how to win.

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Foreword.

Acknowledgments.

Introduction.

Chapter 1 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.

Chapter 2 Balance and Base: What Is True Wealth to You?

Step 1: Forget Financial Goals (At Least for Now).

Step 2: Develop Your Vision for Your Life.

Step 3: Determine Your Specifi c Goals.

Chapter 3 Closing the Gap: Analyze your Current Situation.

Before You Close the Gap: Overcome Your.

Fear of the Unknown.

Step 1: Forget about Budgets.

Step 2: Make Sure You Have Positive Cash Flow.

Step 3: Create a Personal Balance Sheet.

Step 4: Keep in Mind the Total Financial Picture.

Chapter 4 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.

Chapter 5 Your Team of Advisors: Two 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.

Chapter 6 Timing: What Is Your Investment Strategy?

Stage 1: Build an Emergency Fund.

Stage 2: Own Your Home.

Stage 3: Take Advantage of Tax–Deferred Investments.

Stage 4: Max Out 401(k) Match Contributions.

Stage 5: Contribute to Traditional and Roth IRAs.

Stage 6: Determine How to Invest Your Funds.

Stage 7: Diversify into Other Investments.

Chapter 7 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 Benefi ciaries.

Chapter 8 Position Before Submission: Analyze Insurance Needs.

Protect Yourself But Not to the Extreme.

Life Insurance.

Auto Insurance.

Property Insurance.

Health Insurance.

Disability Insurance.

Chapter 9 Attitude: Life in Retirement.

How Much Money Will You Need?

Current Spending Estimate.

10–10–4 Rule.

Chapter 10 Leverage: Establish Your Tax Plan.

Tax Savings: Homeowners.

Tax Savings: Students and Their Parents.

Tax Savings: Retirement.

Chapter 11 Love, Discipline, and Dedication: Have Your Plan Updated.

Conclusion.

Afterword.

Appendix.

About the Author.

Index.

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SCOTT FORD is President and founder of Cornerstone Wealth Management Group. Named one of 2008′s "20 Rising Stars of Wealth Management" by Private Asset Management magazine, he provides proactive investment and wealth management advice based upon his trademarked system Way2Wealth to a limited number of business owners, entrepreneurs, and affluent families. Ford has been a guest on NBC and Fox affiliates and has contributed to the Today show. Additionally, he has been featured in the New York Times, Christian Science Monitor, Wall Street Journal and, InvestmentNews. Ford studies Brazilian Jiu–Jitsu at Clinch Academy in Maryland.

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