In Close Your Wealth Gap: Financial Lessons to Upgrade Your Life, veteran wealth manager Rob Luna delivers a collection of actionable lessons you can implement immediately to ensure you make the most of the money you make and retire comfortably. You’ll learn everything you need to know about generating personal wealth, from how to understand balance sheets and cash flow statements to constructing a personal portfolio that effectively balances risk and potential reward.
The author explains the basics of maximizing your income with side hustles and passive income while, at the same time, increasing the impact of every dollar you earn. You’ll also find: - Action plans for every stage of your life, including ways to prepare your children for a lifetime of financial independence and security - Explanations of the difference between qualified and non-qualified accounts - Strategies for avoiding “bad debt” while intelligently incurring - when necessary - good debt
Perfect for young professionals, people with new families, and anyone else with a desire to live well and retire rich, Close Your Wealth Gap is an indispensable recipe for financial security that belongs on the bookshelves of people everywhere.
Table of Contents
Acknowledgments ix
Introduction xi
Part I: All About the Wealth Gap and Your Relationship to Money 1
Chapter 1: The Wealth Gap 3
Chapter 2: What Is Your Relationship with Money? 13
Part II: Financial Boot Camp 19
Chapter 3: Starting Today 21
Chapter 4: Managing Your Financial Life in a Dashboard 29
Chapter 5: Improving Your Financial Dashboard 41
Chapter 6: Building Your Financial Roadmap 63
Part III: How to Match Your Investments To Your Needs 73
Chapter 7: Managing Your Financial Buckets 75
Chapter 8: Minimizing Taxes 105
Chapter 9: Buying or Avoiding Life Insurance and Annuities 121
Chapter 10: Developing a Wealth- Maximizing Mindset 133
Part IV: a Financial Case Study 149
Chapter 11: Building Your Own Action Plan 151
Chapter 12: Start Young: What to Do Ages 0-18 159
Chapter 13: Welcome to Adulthood: What to Do Ages 18-24 163
Chapter 14: The Ramp- Up Years: What to Do Ages 24-30 169
Chapter 15: Learn and Earn: What to Do Ages 30-40 177
Chapter 16: Full Speed Ahead: What to Do Ages 40-50 189
Chapter 17: Catch Up and Assess: What to Do Ages 50-60 203
Chapter 18: The Work- Optional Years: What to Do Ages 60+ 217
Chapter 19: Case Study Executive Summary 227
Epilogue 235
Appendix A: Resources 239
Appendix B: Glossary of Financial Terms 245
About the Author 251
Index 253
