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SMART MONEY STRATEGIES FOR EVERY AGE AND SITUATION
Your 40s and 50s—The Peak Earning Years

Section 1 of 11:
GIVING YOURSELF A FINANCIAL CHECKUP:
How Are You Doing Financially?
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While you may not even be aware of it, the Social Security
Administration predicts that 85% of the American population will
retire with virtually no savings.

By applying even a few of the suggestions contained in this free
report or in my book, Everyone’s Money Book, you can avoid
becoming part of that cash-crunched 85%.

Instead, you can become part of the fortunate 15% of the
American population who retire comfortably. It’s even possible that
you could become part of the incredibly elite who retire as
millionaires, despite earning only a moderate income!

This report will help you learn how to micro-manage your funds so
that your money multiplies itself. Each section contains useful tips,
techniques and action strategies you can implement right away.

Read on and reap the financial rewards!

Jordan E. Goodman
America’s Money Answers Man
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GIVING YOURSELF A FINANCIAL CHECKUP:
How Are You Doing Financially?
GIVING YOURSELF A FINANCIAL CHECKUP

By the time you reach your 40s and 50s, your income should be substantially
higher than it was in your 20s and 30s, and you should have accumulated a
considerable pool of assets. All this should be reflected in a sizeable net
worth. You probably have accomplished many of the short- and medium-term goals
you set when you were younger, though you have new goals to meet.

Some of your long-term goals, such as saving for retirement, traveling extensively, or
starting a business, may still lie ahead of you. Working through the cash flow
and budgeting exercises in ‘Giving Yourself a Financial Checkup’ is as
important as ever because you should have more sources of income, as well as
more expenses.

When you assess your risk tolerance, you may find that you have
mellowed a bit since your youth. If you have built up a substantial pool of
assets, you may be more interested in preserving that capital than in making it
grow. On the other hand, if you have not invested much, you will have to become
even more of a risk taker to earn the high returns you need to finance a
comfortable retirement.

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GIVING YOURSELF A FINANCIAL CHECKUP

1.
Determine Your Net Worth.

Add up the total value of what you already own, known as assets,
and subtract the amount of debt your owe, known as liabilities. The
remaining sum is your net worth.

2.
Create a Record Keeping System.

Set up a filing system separate from the rest of your household
files. Be sure to note where all your important documents are
located and other important details such as account numbers,
names of brokers, insurance agents and other people who know
about your accounts.

3.
Define Your Financial Goals.

Set specific financial objectives and put them in writing—listing
dollar amounts and noting exactly when you will need the money—
will motivate you to achieve your goals.

4.
Analyze your Cash Flow.

Simply: Where does your money come from and where does it go?

5.
Create a Budget that Works.

Note all your income and expenses and use it to take control over
your finances. Even if you still rely on your parents for
financial help, balance your income and expenses without regard to
parental support.

6.
Assemble a Long-Term Financial Plan.

Prioritize short-, medium-, and long-term goals. You have most of
your life ahead of you, and the sooner you determine what you
want to accomplish first, the greater the chance you have of
realizing your dreams.

Don’t expect to meet all your goals at once. Saving for a down
payment on a home, for example, may be a higher priority than
buying a car or having a child.

7.
Assess Your Risk Tolerance.

Realize that while you may not yet have a great deal of money, you
do have a great deal of time for your investments to grow. At this
age, you have a lifetime to bounce back if a risky investment fails.

In addition, if you can tolerate more risk, your investments will
have a long time to appreciate significantly. Most people in their
20s and 30s are apt to be too conservative with their money.
Instead, you should take more risk in hopes of higher long-term
returns.

8.
Use Your Computer to Keep Your Finances in Shape.

Enter your data into a personal finance software program and/or
use the Internet and its many Web sites (like
www.MoneyAnswers.com!) to educate yourself about finance and
to track your progress toward your financial goals.

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HOW TO REAP THE REWARDS YOU DESERVE!

Starting Now . . .

Use the following Resources, Action Steps and Extra Info to take
the next step toward your solid financial future.

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You work hard for your money.
But do you maximize the money you earn?

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Over 200,000 copies sold.

Order Everyone’s Money Book (970 pages) today for only $30.
www.moneyanswers.com/bookstore/

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RESOURCE | RESOURCE | RESOURCE
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Want fill-in-the-blank worksheets for your computer?
Everyone’s Money Software includes 36 easy-to-use worksheets
contained in Everyone’s Money Book (2nd Edition) to help you
apply Jordan’s advice to your situation quickly and easily.

With this software you will be able to:

Calculate your net worth.

Keep records (professional contacts and banking,
tax, brokerage, and insurance records)

Set and track progress toward your financial goals.

Analyze cash flow and budgeting.

Pick stocks using five styles
(cyclical, growth, income, out-of-favor and value).

Make mortgage calculations.

Determine if it’s better to buy or lease a car.

Pick the right amount of insurance
(auto, disability, homeowner’s and life).

Determine the best options for funding college.

Figure out how much to save for retirement.

Determine how much to put aside in your
Flexible Spending Account (FSA).

36 Easy-to-Use Worksheets

Works with all Windows and DOS-compatible computers

Click here to order for only $9.95:
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