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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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RESOURCE | RESOURCE | RESOURCE
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You work hard for your money.
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Everyone’s Money Software includes 36 easy-to-use worksheets
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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
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Make mortgage calculations.

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

Pick the right amount of insurance
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Determine the best options for funding college.

Figure out how much to save for retirement.

Determine how much to put aside in your
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SMART MONEY STRATEGIES FOR EVERY AGE AND SITUATION
Your 40s and 50’s—The Peak Earning Years

Section 2 of 11:
INVESTING:
What Should You Be Doing to Increase Your Wealth?
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If you’ve never invested in stocks or have only limited experience
with them, you might be harboring a common misperception of the
stock market: It’s a dangerous, volatile place where thousands of
sophisticated professional traders and brokers lurk to steal your
hard-earned money.

The reality is there are millions of small investors like you who have
been able to finance their dreams by successfully buying and
holding for years shares of profitable companies and of mutual
funds that buy such shares.

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
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

INVESTING:
What Should You Be Doing to Increase Your Wealth?

If you have already established a substantial portfolio of stocks and equity
mutual funds, you might begin to scale back the risk level of your holdings as
you move through your 40s and 50s. If 70 percent of your portfolio consisted of
aggressive growth or growth stocks when you were in your 20s and 30s, 30 to 50
percent is more appropriate now. You can allocate the rest of your capital to
more conservative growth and income investments, such as equity-income,
balanced, and convertible mutual funds.

Also, increase your bond holdings to about 50 to 70 percent of your portfolio over time, and reinvest the dividends if you don’t need the income the bonds generate. If you are in the top tax bracket, consider investing your money in municipal bonds rather than taxable
Treasuries or corporates. If you have excess risk capital that you can afford to lose, you might dabble in more speculative arenas, such as options, futures, gold, collectibles, and limited partnerships, but move cautiously.

If you have not saved or invested over the years, do so immediately. Aim to set
aside at least 10 percent of your after-tax income—as much as 15 percent, if
possible. If your employer offers a salary reduction plan and you have not yet
enrolled, do so to the maximum extent possible, particularly if the company
matches your contribution. By not saving over the past 20 or more years, you
have forgone a tremendous opportunity for which you must now compensate.

Your goal is to create a large enough pool of capital to generate the income you
need to live well in retirement, which is now only 10 to 25 years away. If you
can amass $100,000,that will create an income stream of $5,000 a year if you
earn a 5 percent return and $10,000 a year if you manage 10 percent.

Your banking relationships should be well established by now, and you should be
maintaining checking, savings, and certificate of deposit (CD) balances high
enough to avoid account fees and per-check charges. If you keep money in
several banks, consolidate it in one institution to minimize fees. Make sure
that your account is insured by the Federal Deposit Insurance Corporation
(FDIC).

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RESOURCE | RESOURCE | RESOURCE
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Everyone’s Money Book on Stocks, Bonds and Mutual Funds
by Jordan E. Goodman

Understanding the vehicles for investment and changing markets can give you the edge when choosing smart strategies in changing times. Everyone’s Money Book on Stocks, Bonds and Mutual Funds will help you make sound decisions regardless of market movement…..

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