The Wall Street Journal Complete Personal Finance Guidebook

I really like The Wall Street Journal Complete Personal Finance Guidebook's wording when detailing the significance of carrying a lot of credit card debt.

If you could pay cash for what you want and are certain you'll pay the credit card in full each month, but you're using a card for a perk that ultimately improves your finances, then the debt is likely benign.

If you can't pay cash for what you want even if you raid your checking account, and you know you'll have to carry a balance on your card for a couple months to repay the purchase, then the debt is malevolent and your finances will suffer over time.

Term Life Insurance

Life Insurance should not be viewed as an investment.  Its purpose is to insure.

It's always best to buy Term Life Insurance, not Whole Life Insurance.  Term is much cheaper.  By not buying Whole Life Insurance, the money you save can be invested in more appropriate and lucrative ways.

Also, remember that the cost of Life Insurance increases substantially as you get older.  The intent is to retain Life Insurance during your younger years while your obligations ( i.e. protecting your wife and kids, covering your mortage, replacing your income ) are greater.  As you get older and your Net worth increases and your responsibilities decrease ( i.e. mortgage payments, kids move out, etc ), you can begin moving away from Life Insurance.

Your goal should be to get your Net Worth to a point where it's significant enough to take care of what you leave behind.  Hopefully, your Net Worth will be your legacy, not the Life Insurance funds.

Susan Feitelberg's - The Net Worth Workout

According to Susan Feitelberg in her book The Net Worth Workout , the average American works 44 years, then retires with a $46,000 net worth ( excluding home equity ).  That represents just $1,000 for every year worked.  Yet, if that person were properly investing $1,000 every year for 44 years in the S&P 500 ( average annual growth of 10% ), then they would have $378,000+.  If that is true, what goes wrong with individual's savings over these 44 years?  I think this tells us that folks are continually dipping into their money without letting it compound properly.  A perfect example is when folks borrow against their 401K plan.  This is perhaps one of the worst things you can do for your long-term financial stability.  I know this is popular and I have made the same mistake myself once, but it's really a poor idea unless it's an absolute emergency.

Reverend Billy

Yes, Reverend Billy comes across as entertainment, but the message is dead serious.  Instead of proliferating a culture that insists that physical gift giving is the most meaningful thing these holidays, why not focus on giving our time and love to family and friends.  I know, you and my wife, Dayna, believe that I'm absolutely crazy with regard to my passion to see all consumerism diminished, but I stand by my convictions that this American culture is way out of control with its belief that "buying stuff" is the meaning of life.

America Saves

With the holidays fast approaching, everyone could use some helpful money saving tips ( I know I can ).  Here's a good website with some ideas.  The thoughts on the websites are for year round savings, not just holiday ideas.

America Saves

Also, the contents of the book is coming along.  I continue to pull together a comprehensive list of topics I want to cover.

Morgan Talking

For our three year anniversary I bought Dayna a microphone for her iPod.  I think we'll find many uses for it, but mostly for capturing the kids on audio for our family and friends to enjoy.

Morgan Laughing ( 18 months old )  
Morgan Talking ( 18 months old )  

The Book

Work continues on the book as I begin assembling the topics I want to include.  The list may grow and/or shrink as I get comfortable with the things I want to convey.  One thing is for sure...there is no shortage of topic options that can be included.