You Can Do It!: An Easy Step-By-Step Guide to Financial Security
by Donald H. Young
How this book will help you navigate the path to financial security.
Over the years, I have observed that, in general, most people I talk to are not happy with the level of overall financial security which they have achieved. Knowing what you are doing and having as much financial security as you can create are the cornerstones of a successful life and make it possible for you to achieve as much of your dreams as you can.
The following are just some of the examples of individual situations which I have found to be very common. In fact, the dissatisfaction with their financial security felt by people means that most people are experiencing most of them:
- They have no clearly defined objectives
- They do not know how much they are worth.
- They do not pay themselves first
- They do not maximize the match in their 401(k), if they have one
- Older people have too much investment in stocks
- Younger people do not have enough investment in stocks
- They are buying individual stocks with no information advantage and in general buying high and selling low
- They seem to be paralyzed into doing nothing, even if they are aware of some of these situations, because of the overwhelming amount of information available to them. They have a sense that they should be doing something, but they really do not know what to do.
This book therefore fills a critical need which has not been met with the bewildering array of both general and very specific books on achieving financial security. It provides an educational background and then a step-by-step comprehensive analysis of how to improve your financial security, including:
- Setting objectives
- Constructing balance sheets
- Managing cash flow
- Preparing budgets
- Buying appropriate insurance
- Planning for retirement
- Creating necessary documents for managing your personal affairs
The best way to read this book is to read the chapters in order. This is because the information in one chapter builds on the information in the chapters which preceded it. Remember, this is a step-by-step process which begins on the first step in Chapter 1 and ends on the last step in Chapter 12. Key exhibits make it easy to understand the basic concepts. The only requirements for success are personal involvement and commitment on your part.
After reading the book and implementing the recommendations included in the Bottom Line at the end of each chapter, you will have created a level of financial security which will enable you to achieve your financial objectives.
I think that you will find that this book is timeless. The basic concepts are as true today in 2017 as they were almost ten years ago when I wrote the book, and they will still be true ten years from now. I update the asset class return forecasts and the historical data in "Updates" in the web site, but this is the only information which needs to be updated. Consider as you read the book whether the steps you need to take to achieve financial security are any different today than they were ten years ago.
If you have any comments or questions, please click on the Contact tab and send me an email.