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Anthony’s Review

Review

 

Review what Anthony has learned.

Using Anthony’s review below (or another) as an example, complete your own online or download a PDF.

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Complete your own online


See how the other people of Building Wealth reviewed what they learned.

Wealth is…

Now that he’s read the material and thought about the information it contains, Anthony’s new definition of wealth is:

Anthony’s Definition of Wealth

1.
Increasing my assets and decreasing my liabilities

2.
Owning wealth-building assets that grow over time

3.
Increasing my net worth

Compare with Anthony’s definition he started with in the Introduction.

 

Financial Goals

Anthony will periodically refer to his goals and measure his ASSETSLIABILITIES = NET WORTH to make sure his wealth-building program stays on track.

Short-term goals

1.
Save $3,000 a year for three years for a $9,000 down payment.

2.
Add $500 to my emergency fund and maintain this cushion.

Long-term goals

1.
Have $25,000 available to help my kids with their college expenses.

2.
Generate $5,000 per month in retirement income in 30 years.


Compare with Anthony’s original goals from Chapter 2: Budget to Save.

 

Strategies for Building Wealth

Anthony’s Investment Strategy

My strategies for building wealth are:

1.
Maximize my employer match in my 401(k).

2.
Use a tax-deferred account for college savings.

3.
Make small increases in my monthly savings, plus save part of each tax refund and pay raise.

Compare with Anthony’s investment strategy in Chapter 3: Save and Invest.


Anthony’s Debt Strategy

My strategies for building credit and controlling debt are:

1.
Pay off high-interest credit card first.

2.
Avoid carrying a balance on my credit card.

3.
Save for large purchases to avoid financing (including holidays).

Compare with Anthony’s debt strategy in Chapter 4: Build Credit and Control Debt.

Budget, save and invest today.
Every day counts in building wealth.