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Money Mindset

Book Description

Harness the power of your money with a 21st century mindset

The speed at which the world is evolving is compounding exponentially each day, leaving individual investors wondering how to appropriately plan for their financial future. The financial norms that helped prior generations retire with grace are quickly evaporating or have already been replaced with new difficult realities.

Money Mindset is an expert-led guide to growing your wealth, protecting your wealth, and transferring your wealth to future generations. Written by a third generation financial planner who is also an adjunct finance professor at the W.P. Carey School of Business at Arizona State University, Money Mindset helps readers understand important financial concepts and theories of the 21st century.

  • The science and psychology of money
  • The 'WHY' of personal financial management
  • The rule of 72, asset allocation, dollar cost averaging, and the erosive effects of inflation
  • How to manage a diverse investment portfolio to minimize macroeconomic vulnerability
  • How to create a legacy through proper estate planning

Money Mindset explores the idea that money can be looked at as an energy source. In order to truly harness its powers, one must acquire and maintain a certain money mindset.

Everyone wants financial independence—having enough money to consistently fuel their everyday life. Money Mindset clears a path through the increasingly convoluted and ever-changing world to show how to finally become financially secure.

Table of Contents

  1. Foreword
  2. Preface
    1. Who This Book Is For
  3. Acknowledgments
  4. Chapter 1: Money Is Energy
    1. There Is No Silver Bullet
    2. Building Your “Financial Foundation”
    3. What’s Ahead?
    4. Note
  5. Chapter 2: The Psychology of Money
    1. The Science of Fear and Greed
    2. What’s Ahead?
    3. Note
  6. Chapter 3: New Retirement Paradigm
    1. The Coming Crisis in Retirement Planning
    2. Why Is Retirement So Different Today?
    3. The System Is Running Out of Energy
    4. What’s Ahead?
    5. Notes
  7. Chapter 4: The “Why” of Financial Management
    1. What’s Your “Why”?
    2. Not Planning Is the Same as Planning to Fail: Where to Start
    3. Be Prepared for the Thunderstorms
    4. What’s Ahead?
  8. Chapter 5: The Power of Compound Interest and the Erosive Effect of Inflation
    1. The Power of Compound Interest
    2. Make Time Work for You
    3. The Cost of Procrastination
    4. The Story of Larry and Earl
    5. The Erosive Effects of Inflation
    6. Looking at Inflation Today
    7. The Shrinking Dollar
    8. Memory Lane
    9. What’s Ahead?
    10. Note
  9. Chapter 6: Building Your Wealth
    1. The Financial Engine of Your Wealth Creation
    2. Asset Allocation
    3. Importance of Asset Allocation
    4. What Does Salsa Have to Do with: Asset Allocation?
    5. Rebalancing Your Portfolio
    6. Measuring Volatility
    7. Be Smart about Recovery Times
    8. Dollar Cost Averaging
    9. Systematic Withdrawals
    10. Where Does Real Estate Fit In?
    11. What’s Ahead?
    12. Note
  10. Chapter 7: Taxes and Insurance
    1. Taxes
    2. How to Calculate Your Effective Tax Rate
    3. Insurance
    4. Health Insurance
    5. Long-Term Care Insurance
    6. Life Insurance
    7. Types of Life Insurance
    8. Disability Insurance
    9. Automobile Insurance
    10. Renters or Homeowner’s Insurance
    11. Deductibles
    12. Overinsured or Underinsured?
    13. A Defensive Strategy
    14. What’s Ahead?
    15. Notes
  11. Chapter 8: Estate Planning
    1. Simple Estate Planning Documents
    2. Beyond the Basics: A Living Trust
  12. Chapter 9: Do You Need a Financial Planner?
    1. Do You Need Help?
    2. Your Financial Education
    3. Note
  13. Appendix: Economic Energy
    1. The History and Future of Energy in the United States
    2. Energy Forecast for North America
    3. Notes
  14. Glossary
  15. About the Author
  16. Index
  17. EULA