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Financial Self Defense Program
The author has been a student of martial arts for nearly 40 years and engaged in financial study and management for over 30 years. This short book distills these years of experience so the reader can approach their financial management and education with the discipline of the martial arts. Martial arts teach one to engage in an activity with calm, efficiency and integrate the process with one’s life mission of finding happiness. The purpose of the Integrated Financial Education Series is to provide individuals with a system to manage their finances with a minimum cost both in terms of time and money.
Recent surveys suggest many people feel overwhelmed by the complexity of managing their personal finances. Yet without the ability to rely upon a pension for retirement, they must take more responsibility for their lifetime spending needs. Recognizing that our financial system is broken, they do not know where to turn to find advice. Many people do not want to manage their own finances, but are not completely comfortable with the alternatives.
Whether one only wants to find a trustworthy adviser or become self-directed, this book and supporting links simplifies the process. First the book helps the reader identify the areas of finance that will produce for them the
greatest economic benefit. By limiting the areas of finance studied, the overwhelming task becomes manageable. Then unlike some rules of thumb common in the financial media, real depth in thought is needed to be certain that one’s efforts are genuinely directed towards achieving their goals. Once a framework is developed for financial decisions, it can be applied quickly and easily to any decision that may arise over time. If one wishes to continue their financial education, cost effective resources are suggested.
The reader is also challenged to question how their approach will lead to happiness. Ultimately, the approach to study and the resulting decision processes are rooted in martial arts discipline to promote efficiency as well as happiness in life
Recent surveys suggest many people feel overwhelmed by the complexity of managing their personal finances. Yet without the ability to rely upon a pension for retirement, they must take more responsibility for their lifetime spending needs. Recognizing that our financial system is broken, they do not know where to turn to find advice. Many people do not want to manage their own finances, but are not completely comfortable with the alternatives.
Whether one only wants to find a trustworthy adviser or become self-directed, this book and supporting links simplifies the process. First the book helps the reader identify the areas of finance that will produce for them the
greatest economic benefit. By limiting the areas of finance studied, the overwhelming task becomes manageable. Then unlike some rules of thumb common in the financial media, real depth in thought is needed to be certain that one’s efforts are genuinely directed towards achieving their goals. Once a framework is developed for financial decisions, it can be applied quickly and easily to any decision that may arise over time. If one wishes to continue their financial education, cost effective resources are suggested.
The reader is also challenged to question how their approach will lead to happiness. Ultimately, the approach to study and the resulting decision processes are rooted in martial arts discipline to promote efficiency as well as happiness in life
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First published March 12, 2013
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Displaying 1 of 1 review
May 3, 2014
I read Financial Self-Defense Program by Steve Kanney, in exchange for review from Tomoson. The book is currently .99 on Kindle and free to borrow from Prime. The book also can be downloaded here.
My review:
I chose this book because I need to learn more about saving and managing money. I have a basic savings account, but I do not do regular deposits. I also am taking a course at church on managing money God's way. Next, I do have a budget, but can do more as far as investments to save for the future.
The book teaches people how to safely manage their money and achieve financial objectives. The process is not easy. People need to take a hard look at money coming in and money going out. The first step is to create a financial plan, which requires planning and preparation. You also need to determine your short-term objectives, long-term objectives, and any future investments.
Short-term objectives include cash reserves, insurance (home, health, renters, life), capacity to borrow, and liquid investments. Other things to consider:
Do you know your credit score?
Can you withdraw against lines retirement accounts, in times of emergency?
Can you liquid investments be sold with minimal costs?
Do you track your spending? Do you have a budget?
Long-term objectives include college, retirement, and pensions.
The book also discusses areas, where you should not spend your time. These areas include:
Picking actively managed funds to beat the market
Using insurance for tax-deferred investment (variable annuities).
Picking individual stocks
The book also contains links to websites like Social Security and articles on managing finances. Next, the book provides information and links to financial models such as Discretionary wealth, asset allocation, and Tipster. Then, the book discusses financial advisors, types of investments, consumption, monitoring performance, and provides a resources page. Finally, the book discusses excess funds and what to do with them. For example, you can donate to charity, invest the money, or plan your estate.
My review:
I chose this book because I need to learn more about saving and managing money. I have a basic savings account, but I do not do regular deposits. I also am taking a course at church on managing money God's way. Next, I do have a budget, but can do more as far as investments to save for the future.
The book teaches people how to safely manage their money and achieve financial objectives. The process is not easy. People need to take a hard look at money coming in and money going out. The first step is to create a financial plan, which requires planning and preparation. You also need to determine your short-term objectives, long-term objectives, and any future investments.
Short-term objectives include cash reserves, insurance (home, health, renters, life), capacity to borrow, and liquid investments. Other things to consider:
Do you know your credit score?
Can you withdraw against lines retirement accounts, in times of emergency?
Can you liquid investments be sold with minimal costs?
Do you track your spending? Do you have a budget?
Long-term objectives include college, retirement, and pensions.
The book also discusses areas, where you should not spend your time. These areas include:
Picking actively managed funds to beat the market
Using insurance for tax-deferred investment (variable annuities).
Picking individual stocks
The book also contains links to websites like Social Security and articles on managing finances. Next, the book provides information and links to financial models such as Discretionary wealth, asset allocation, and Tipster. Then, the book discusses financial advisors, types of investments, consumption, monitoring performance, and provides a resources page. Finally, the book discusses excess funds and what to do with them. For example, you can donate to charity, invest the money, or plan your estate.
Displaying 1 of 1 review