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Your Money Rules for Financial Freedom by Michael J. Laurence

Your Money Rules for Financial Freedom

by Michael J. Laurence

476 pages
A comprehensive personal finance/reference book for all Americans.

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Category: Business:Personal Finance and Investing
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About the Book

Ever wonder why some of the excellent, proven advice given to you by your parents, grandparents, or experts you heard just a few years ago isn't working for you today? Probably because the rules of personal finance have been changing radically over the last few years.

Americans used to get a 30-year fixed-rate mortgage for their affordable home and work at a job where they knew when they'd retire and how much they'd receive each month. As time went on, Americans became accustomed to sending their children to college and the bills have bloomed so that students typically graduate with significant student loans which must be paid back. Most likely also have a car note.

Health insurance does odd things: the costs (premiums and co-pays) go up and the benefits go down--if you can get insurance. Prescription drug costs have risen--as have co-pays if you're lucky enough to have medication coverage. The credit cards that line Americans' wallets can also cause money woes with their changing interest rates, fees, and other surprises.

Everywhere Americans turn, we're told we're a wealthy country and yet, the average American has serious financial concerns. An MSN Money article noted that nearly half of us are spending $1.20 for every dollar earned. For fiscal 2004, to be in the top 25% of the tax bracket, your household needed to make just under $60,000.

Headlines carry news about large companies wanting to get rid of pension plans next to the woes of Social Security. The stock market can shoot way up only to plummet. What\'s a responsible person to do? He has to educate himself on how the system now works and sound choices he can make to protect himself and his family.

YOUR MONEY RULES FOR FINANCIAL FREEDOM
addresses the system and discusses the considerations for major areas in your life. Obtaining an affordable college education, wisely using credit, and setting aside your own funds for retirement are a few examples of what's covered. The pitfalls of co-signing anything are discussed. Dangers in leasing (an apartment, house, or car) are highlighted. Health care issues from insurance to affordable medications and services are looked at. Cautions about marriage and divorce are included.

Throughout the book, the concerns of the young, working, retired, disabled, and immigrants are addressed. Ways to find free or low-cost information and assistance is provided. When the reader has a heads up on concerns and resources, he can find what he needs to know for his specific circumstances from a professional in his community. This beats being blind-sided by a crisis. What if no one ever mentions what happens if you desperately need a trusted person to serve as your medical or financial power of attorney and you have none because you knew nothing about the subject?

This book fills in those gaps in knowledge that even the well-educated have. Many crises can be prevented and knowledge is your best defense.

 

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About the Author
Michael J. Laurence is the pen name of a disabled college instructor with more than 20 years of teaching experience who has survived on part-time pay and no benefits while assisting family and friends with their financial issues. Research and experience led to home ownership, a portfolio, and this book.

 

 

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