Got Money?: Enjoy It, Manage It--Even Save Some of It--Financial Advice for Your Twenties and Thirties

549 Pages·1999·1.2 MB·English

by  Jeff Wuorio

Got Money? : Enjoy It! Manage It! Even
title: Save Some of It! : Financial Advice for
Your Twenties and Thirties
author: Wuorio, Jeff.
publisher: AMACOM Books
isbn10 | asin: 0814480098
print isbn13: 9780814480090
ebook isbn13: 9780585069364
language: English
subject Finance, Personal, Saving and investment.
publication date: 1999
lcc: HG179.W86 1999eb
ddc: 332.024
subject: Finance, Personal, Saving and investment.
Page iii
got money?
Enjoy It! Manage It!
Even Save Some of It!
Financial Advice for Your
Twenties and Thirties
Jeff Wuorio
AMACOM
American Management Association
New York · Atlanta · Boston · Chicago · Kansas City · San Francisco
· Washington, D.C. Brussels · Mexico City · Tokyo · Toronto
Page iv
Special discounts on bulk quantities of AMACOM books are available
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For details, contact Special Sales Department, AMACOM, an imprint
of AMA Publications, a division of American Management
Association, 1601 Broadway, New York, NY 10019. Tel: [phone]
Fax: [phone]
This publication is designed to provide accurate and authoritative
information in regard to the subject matter covered. It is sold with the
understanding that the publisher is not engaged in rendering legal,
accounting, or other professional service. If legal advice or other
expert assistance is required, the services of a competent professional
person should be sought.
Library of Congress Cataloging-in-Publication Data
Wuorio, Jeff
Got money?: enjoy it! manage it! even save
some of it! / Jeff Wuorio.
p. cm.
Includes index.
ISBN 0-8144-8009-8
1. Finance, Personal. 2. Saving and investment.
l. Title.
HG 179. W86 1999
332.024dc21
9930975
CIP
© 1999 Jeffrey J. Wuorio.
All rights reserved.
Printed in the United States of America.
This publication may not be reproduced, stored in a retrieval system,
or transmitted in whole or in part, in any form or by any means,
electronic, mechanical, photocopying, recording, or otherwise,
without the prior written permission of AMACOM, an imprint of AMA
Publications, a division of American Management Association, 1601
Broadway, New York, NY 10019.
Printing number
10 9 8 7 6 5 4 3 2 1
Page v
For Judy, Meghan and Nathan, for putting up
with more nonsense than
anyone could humanly deserve.
Page vii
Contents
Acknowledgements xi
Introduction xiii
Chapter OneSome Basics 1
Set Up a (Groan) Budget 1
Shop for Cost-Effective Banking Services 6
Record What You Need to Record 9
Save, and Ye Shall Be Saved 12
Set Up an Emergency Fund 14
The Last Word - Inflation 14
Chapter TwoFinancial Death via Debt 17
The ExpansiveBut Not Entirely DestructiveWorld of 18
Student Loans
Joe Plastic Lives 23
Chapter ThreeInvesting for Long-Term Success with Stock 32
Mutual Funds
Just What the #@*&!!! Is Investing? 34
Stock Funds, Not Just Stocks 36
The Case for Long-Term Investing 37
A Mutually Beneficial Approach 40
Choosing a Mutual Fund 42
Going Green 48
Choose! 49
Other Fund Considerations 54
Now That You're Up and Running... 58
Chapter FourOther Ways to Invest 61
Government Securities 62
Municipal and Corporate Bonds 64
Stocks and BondsDifferent Investment, Same Caveat 66
Page viii
Money Market Mutual Funds 72
Certificates of Deposit 74
Chapter FiveWho is This Guy Ira Roth, and What Does 77
He Want with Me?
IRA and You 79
Should I Contribute? 82
Whither IRA? 83
To Convert or Not to Convert? 85
Choosing How to Invest Your IRA 86
Chapter SixSmart Spending 87
Renting Without Ranting 88
Fuel for Thought 92
Please Release Me 100
Shop 'Til You CyberDrop 103
Cheaper by the Dozen(s) 106
Chapter SevenMi Casa, Su Casa? 109
Mi Casa? Porque? 112
Getting Started 114
Now That My Head Is Ready to Implode, How Can I 117
Get Past Some of These Home Ownership Migraines?
Ways to Beat Those Down Payment Blues 120
Adding Muscle to Your Monthly Money 123
Loan Shopping 124
Homeowners Insurance 128
A Few Final Thoughts on Home-Buying 131
Chapter EightThe Joys of Insurance 137
To Your Health 138
Live-and-Let-Live Insurance 145
Auto Insurance 152
"Blink and Miss Them" Types of Insurance 154
Chapter NineGood Help is So Hard to Find These Days 161
To Seek or Not to Seek 163
Financial Planners 163
Taking Stock of Brokers 170
Page ix
Making Taxes Less Taxing 174
Financial Self-Help Through Investment Clubs 178
Chapter 10Money Bytes 180
Cyberfunds 181
Cyberstocks 184
Money on the Web 187
Cyberbanking 191
Financial Software Programs 194
Chapter 11"No Man but a Blockhead"... 202
Cutting the Best Salary Deal You Can 204
401 k Plans 207
Juiced About Your 401 k Yet? 209
Hit the Cafeteria 215
Flexible Spending Accounts 216
On Your Own 218
Chapter 12The Ever-Dreaded "T" Word 222
A Brief Foray Into History (Very Brief, I Promise) 223
Who Has to File Taxes? 224
Just How Does the Tax System Work? 225
The Easiest, Most Pain-Free Way to File a Tax Return 227
Taxes, Slash Thyselves! 229