by Paul Petillo (McGraw-Hill - ISBN 0071423761)
Step 1 Benjamin Franklin suggested once that the reward for a
well-lived life was that you were useful, not rich. Too often we feel
as though we would be better served by wealth. We yearn to be among
those 13,000 taxpayers whose wealth is enviable. Their lifestyle is our
golden ring. More
10 Steps to Realizing Your Dream
No Matter What You Earn
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Step 3 The problem is simple: When it comes to our finances, many
of us have received a string of mixed messages that come at us from
every angle. We are inundated with commercials encouraging us to buy
now, pay later. More
Step 4 Homeownership can be broken down into two basic components,
buying and selling. The complications involved in these two simple
words and the decision to jump into this life-altering situation make
home buying one of the most rewarding and frustrating exercises in
finance many of us will ever undertake. More
Step 5 We need it, but we are loath to think about it. We can1t
afford it, but at the same time we probably can1t afford to live
without it. There are far too many people out there who are without the
necessary insurance they need to live a less worrisome existence. More
Step 6 Essentially, this is what we are going to doĞmove forward.
The firm footing we discussed in preceding chapters steps allows us to
make an easy transition to the next step in your investment life.
Before we move forward, though, we need to develop a plan. Once again,
we will look at what we know and add to it. More
Step 7 When the stock market goes up, investors run away from
bonds. When the stock market is in trouble, investors run to bonds.
Both events are tied to the economy, and the economy is tied to
business. More
Step 8 REITs have shares that are traded publicly on the stock
exchange. However, the similarities to stocks end there. When a REIT
qualifies, it can operate free of corporate tax. What a REIT does is
quite simple and elegant at the same time. More
Step 9 So how do we decide the right place, the right time, and the
right method? It is easier than you might imagine. Just like traveling
to a distant place, your trip will only hold special meaning if you
learn something about your destination. These journeys are, as the
saying goes, what you bring to them. More
Step 10 You should keep three words in mind as you approach your
investments: risk, reward, and reality. Too much of one can cause your
plan and your portfolio serious harm. To little of any one can find you
just short of where you would like to be. In other words, the dose
makes the poison. More
