Synopses & Reviews
Invest my money? Forget it. Who knows which way the stock market is headed? And I just plain don't know how to do it. I'll stick my paycheck in the bank, keep my credit card debt as low as I can, and worry about my financial future when I have some extra money. Besides, there's always Social Security, right?
WRONG, according to the authors of The Armchair Millionaire (and the geniuses behind the Armchair Millionaire Web site), whose philosophy is simple: if your money isn't working for you, then you'll be working a lot longer than you want to. In plain English, Lewis Schiff and Douglas Gerlach, along with real-life cyber-Armchair Millionaires, show you how to save without budgeting the fun out of life, and invest wisely without losing sleep over your portfolio. "Five Steps to Financial Freedom" will make it easy for you to build an investment portfolio and help you to:
- PAY LOWER TAXES: Why and how to give to your IRA or 401(k) until it hurts.
- PAY YOURSELF FIRST: The secret to building a nest egg is to treat your savings like you treat any bill -- put your financial future at the top of the list of regular monthly payments.
- GET THE MOST FOR YOUR MONEY: "Dollar-cost averaging" has been the most successful investment timing method ever used by the pros. Find out how to make it work for you.
- BUILD YOUR PLAN: Forecast when you'll reach your million-dollar goal with a personalized financial action plan.
- DISCOVER THE TRUTH BEHIND WHY YOU MUST START INVESTING FOR YOUR FUTURE TODAY: Find out why compounded interest is often called the key to successful wealth-building.
Packed with practical advice, personalized tools such as user-friendly worksheets, and actual stories of ordinary people who have built extraordinary portfolios using these methods, The Armchair Millionaire will show you how to get on the road to financial independence at last.
Synopsis
Invest my money? Forget it. Who knows which way the stock market is headed? And I just plain don't know how to do it. I'll stick my paycheck in the bank, keep my credit card debt as low as I can, and worry about my financial future when I have some extra money. Besides, there's always Social Security, right?
WRONG, according to the authors of "The Armchair Millionaire" (and the geniuses behind the Armchair Millionaire Web site), whose philosophy is simple: if your money isn't working for you, then you'll be working a lot longer than you want to. In plain English, Lewis Schiff and Douglas Gerlach, along with real-life cyber-Armchair Millionaires, show you how to save without budgeting the fun out of life, and invest wisely without losing sleep over your portfolio. "Five Steps to Financial Freedom" will make it easy for you to build an investment portfolio and help you to:
PAY LOWER TAXES: Why and how to give to your IRA or 401(k) until it hurts.
PAY YOURSELF FIRST: The secret to building a nest egg is to treat your savings like you treat any bill -- put your financial future at the top of the list of regular monthly payments.
GET THE MOST FOR YOUR MONEY: "Dollar-cost averaging" has been the most successful investment timing method ever used by the pros. Find out how to make it work for you.
BUILD YOUR PLAN: Forecast when you'll reach your million-dollar goal with a personalized financial action plan.
DISCOVER THE TRUTH BEHIND WHY YOU MUST START INVESTING FOR YOUR FUTURE TODAY: Find out why compounded interest is often called the key to successful wealth-building. Packed with practical advice, personalized tools such as user-friendly worksheets, and actual stories of ordinary people who have built extraordinary portfolios using these methods, "The Armchair Millionaire" will show you how to get on the road to financial independence at last.
Table of Contents
Contents
Introduction by Lewis Schiff
PART I
Getting Ready for the Journey
CHAPTER 1 What Is an Armchair Millionaire?
CHAPTER 2 Financial Freedom Can Be Yours
CHAPTER 3 Preparing Your Head and Heart for Achieving Financial Success
CHAPTER 4 Dealing with Your Debt
PART II
Five Steps to Financial Freedom
CHAPTER 5 Step 1: Max Out All Tax-Deferred Savings
CHAPTER 6 Step 2: Pay Yourself First
CHAPTER 7 Step 3: Invest Automatically -- and Benefit from Dollar Cost Averaging
CHAPTER 8 Step 4: Use the Armchair Investing Strategy
CHAPTER 9 Step 5: Start Today -- Put the Power of Compound Interest to Work for You
CHAPTER 10 Fulfilling Your Dreams
Appendix A: How to Use the Armchair Millionaire Web Site and This Book
Appendix B: Index Funds You Can Use in the Armchair Investing Strategy
Appendix C: Brokerage Firms and Mutual Fund Companies
Glossary
Index