- 4% rule, understanding, –8
- A
- Ability
- clarification, 131
- identification, examples, 85–88
- Account balances, input, 41–42
- Accounts, titling, 222
- Active investing, passive investing (contrast), 179–181
- Actual cash value, replacement cost (contrast), 213
- Annual costs, estimation, 46
- Annual expenses, 47
- Assets
- allocation, 168, 169–181
- action/implementation, 193–203
- maintenance process, 191–192
- asset-located portfolio, 197–199
- advantages/disadvantages, 199
- beneficiary designations, 221–222
- location, 168, 181–184
- tax-efficient placement, 201
- transfer, 221–223
- types, 169
- Augustine, Amanda, 124, 128, 134, 137, 138, 139
- Auto insurance, 214–215
- B
- Band, Zvi, 130
- Bank fees, elimination, 62, 63t
- Base portfolio structures, 202t
- Base résumés, 142
- Beneficiaries, designation, 221–222
- Bengen, Bill, –8
- Berg, Justin, 98
- Blind spots, avoidance, 243
- Bogle, Jack, 185
- Bonds
- allocation, execution (example), 198t
- company loans, 169
- investment returns, 171t
- risk/return characteristics, 171
- Borrowing plans, future, 55–56
- Brainstorming, 83
- Brennan Allamano, Cara, 97, 98
- Buffett, Warren, 175
- Burn rate, 40
- coverage, minimum salary (requirement), 48
- data, obtaining, 47
- determination, 46–47
- metric, 45–49
- template, 46t
- Business
- coach, enlistment, 114–115
- models, exploration, 113, 114t
- C
- Cable fees, negotiation, 64–65
- Capital appreciation, S&P500 return, 171t
- Career
- acceleration, managerial power/political capital, 34
- coaches, 243–244
- company sections, review, 124
- development, managerial support, 34
- exploration, 125–126
- ideal, attainment, 13
- living expenses, impact, 11t
- love, pursuit (myth), 21–22
- myths, 16–24
- path, 141–142
- roles, narrowing, 133–134
- starting point, determination, 25
- Cars, values, 43
- Cash, risk/return characteristics, 171
- Chiprich, Erik, 213
- Christensen, Clay, 16–17
- Clear, James, 235, 236 - 237
- Clements, Jonathan, 151
- Communication skills, 88
- Companies
- activity, examples, 83–85
- career sections, review, 124
- earnings, 167t
- exploration, 124–125
- informational interview, impact, 127
- job-specific sites/forums, usage, 124–125
- loans (bonds), 169
- news articles, search, 124
- partial ownership (stocks), 169–170
- research, 142–144
- resources, avoidance, 111
- skills, learning opportunities, 135–136
- team projects, involvement, 135
- Compensation, requirements, 95
- Computer skills, 88
- Consolidation, 73, 74–75
- Corporate ladder, climbing (myth), 18–20
- Credit
- history, length, 54–55
- information, usage, 50
- reporting agency information, usage, 51
- utilization, 54
- Credit cards
- cancellation, decision, 55–56
- debt, reduction, 72–73
- fees, elimination, 62, 63t
- FICO score, 52
- interest rate reduction, request, 73, 74
- refinancing, 74, 75
- rewards, maximization, 66
- transfers, balancing, 75
- Credit reports, 40
- metric, 49–50
- review/checking, 57
- Credit scores, 40
- examination, 50–51
- methodology, 50
- metric, 49–50
- obtaining, 51–52
- timing, 51
- types, 51
- Critics, silencing, 234–235
- D
- Day-to-day responsibilities, 29
- Debt
- cost, reduction options (determination), 73–74
- high-cost debt, payment, 155
- Debt inventory, 73t
- Decembrele, Blair, 93, 101, 139
- Deductible, term (usage), 207
- Directional investment guidelines, goal time frame basis, 189t
- Disability, definition, 212
- Disability insurance, 210–212
- benefit amount/period, 212
- coverage amount/length, 210–211
- elimination period, 211, 212
- employer-provided coverage, 210–211
- policy, selection process, 211–212
- premium, payment amount, 211
- pretax/post-tax dollars, 211
- Discover, FICO score, 51–52
- Diversification
- portfolio diversification, holdings (contrast), 173–174
- reduction/increase, 174–175
- Dividends, S&P500 return, 171t
- Dutton, Jane, 29, 98
- Dweck, Carol, 228–229
- E
- Earnings on earnings, original investment (contrast), 167t
- Educational goals, 155
- Emergency fund, preparedness, 154
- Employee benefits
- comparison, 127
- impact, 32
- tax-saving strategies, 71t
- usage, 70
- Employee flexibility, company allowance, 127
- Employer-provided coverage, 210–211
- Entrepreneurship, exploration, 108
- Estate planning, 219–221
- Exchange-traded funds (ETFs)
- consideration, 177–178
- mutual funds, contrast, 177–179, 179t
- usage, 176–177
- Expenses
- annual expenses, 47
- decrease, strategies, 61t
- fixed monthly expenses, 46–47
- housing expenses, reduction, 68–69
- investment expenses, 184–186
- living expenses, 11t, 49, 212
- net income, relationship, 48
- reduction, 62–76
- review, 160, 163
- shopping expenses, reduction, 65, 65t
- variable monthly expenses, 47
- Expenses, bucketing, 46–47
- F
- Fair Isaac Corporation (FICO), 50
- credit history, length, 54–55
- credit utilization, 54
- FICO-based scores, 51–52
- new credit, credit mix, 56
- payment history, 52–54
- scoring
- methodology, 53t
- model, explanation, 52–57
- Fear of failure, overcoming, 228–231
- Federal Student Loans, consolidation, 73, 74–75
- Feedback, examples, 89
- Ferri, Rick, 204
- Ferriss, Tim, 229–230
- Finances, organization, 151
- Financial advisors/planners, 244–245
- Financial capital, evolution, 5f
- Financial flexibility, 12–13
- Financial freedom, –10
- Financial goal-setting template, 158t
- Financial independence, 12–13
- amount, requirement (understanding), –8
- saving, 155
- Financial needs, consideration, 92
- Financial report card, 58t
- compilation, 39
- metrics, 40
- Financial runway, 40, 49t
- action plan, 61–62
- improvement, 76–77
- increase, process, 59
- length, –7
- metric, 49
- months
- Fixed monthly expenses, 46–47
- Food
- costs, decrease, 66–67
- waste, decrease, 67
- Ford, Anthony, 219, 223
- G
- Geographic needs, consideration, 92
- Goals
- destination, selection, 154–156
- determination, 129
- elimination, 160, 162
- expenses, review, 160, 163
- financial goal-setting template, 158t
- mandatory goals, 154–155
- mapping, 157–158
- optional goals, 155
- plan, refinement, 159–163
- prioritization, 160–161
- review, 189–191
- savings, 157
- time frames, basis, 189t
- timetable, 157
- Gray, Nick, 130
- H
- Hauser, Fran, 100, 129
- Health care proxies, usage, 220–221
- Health insurance, 207–210
- coverage, flexibility, 208
- decision
- Hierarchy of needs (Maslow), 18f
- High-cost debt, payment, 155
- Hock, Antonia, 131
- Holden, Luke, 107–108
- Holding periods, investment returns, 173t
- Holdings, portfolio diversification (contrast), 173–174
- Homeowners insurance
- coverage, 212–213
- dwelling coverage, 213
- Home purchase
- ability, 156
- decision, 156–157
- saving, decision, 156–157
- savings, calculation process, 158–159
- Houses, values, 43–44
- Housing
- expenses, reduction, 68–69
- location, evaluation, 69
- roommate, obtaining, 69
- space/amenities, value alignment, 69
- Human capital, evolution, 5f
- I
- Ideal job, identification, 93–95
- Identity, diversification, 229–230
- Illiquid assets, liquid assets (contrast), 44
- Income
- decrease, 70
- dependence, 216–219
- Industries
- elimination, 93
- evaluation, 29
- research, 142–144
- Informational interviews, usage, 126–127
- Insurance, 206–207
- auto insurance, 214–215
- disability insurance, 210–212
- health insurance, 207–210
- homeowners insurance, 212–213
- liability insurance, 213
- life insurance, 216–219
- needs, 207t
- policies, review, 223
- property insurance, 212–213
- renters insurance, 212–214
- types, 207–213
- umbrella/liability insurance, 215
- Interest rate
- debt inventory, 73
- reduction, request, 73, 74
- Interests
- identification, 82–90
- shared interests, determination, 129–130
- Internet fees, negotiation, 64–65
- Internet, usage, 114
- Interpersonal skills, 88
- Interviewers
- questions, usage, 144–145
- research, 143–144
- Interviews, 142–146
- practice, 145–146
- questions, 144–145
- why questions, answers, 144
- Investing
- asset allocation/location, 168
- decisions, 169–182
- factors, 168–169
- fees/expenses, 168
- initiation, 186
- knowledge, 165
- passive investing, active investing (contrast), 179–181
- power, reasons, 166–168
- risk, return (contrast), 170–173
- Investment
- directional investment guidelines, goal time frame basis, 189t
- discomfort, 252–253
- fees, average, 185t
- fees/expenses, 184–186
- focus, 227
- placement, 181–184
- strategy
- selection process, 202–203
- taxable investment, 181
- tax-deferred investment (pretax investment), 181
- tax-efficient investments, 198
- tax-free investment (Roth investment), 181
- tax-inefficient investments, 198
- Investment returns
- holding periods, variation, 173t
- stocks/bonds, 171t
- J
- Job roles
- changes, considerations, 132–133
- competitive advantages, 133
- evaluation, 36t
- money/time, requirement, 132–133
- narrowing, 131–134
- prioritization, 133, 134t
- research, 123–124
- skills, requirement, 133
- transitions, questions, 132
- type, meaning, 131–132
- understanding, informational interviews (usage), 126–127
- Jobs
- ability, identification (examples), 85–88
- adjustment process, 97
- applications, submission, 138
- change
- action, 137
- career myth, impact, 24
- consideration, 132–133
- decision, 121–122
- preparation, 121
- characteristics, brainstorming, 83
- choices, flexibility, 12
- comparison analysis, 147–148
- compensation, requirements, 95
- connections
- building, 128
- informational interviews, usage, 126–127
- content, consideration, 95
- control, 23–24
- descriptions, review, 124
- enjoyment, 28
- expectations/feedback, 34
- exploration, networking (usage), 126–131
- exposure, 34
- factors, 28–35
- ideal job, identification, 93–95
- impact, ability, 29
- interests, identification, 82–90
- interviews, 142–146
- job-specific sites/forums, usage, 124–125
- life, quality (gauging), 32–33
- LinkedIn profiles, usage, 123
- location, importance, 95
- online research, usage, 123
- online searches, usage, 124
- opportunities
- evaluation, 146–147
- identification/application, 138–139
- optimization, 79
- options, role (impact), 30
- positioning, effectiveness, 139–142
- positions, elimination, 93
- practicalities, 110–112
- preferences
- identification, 82–83
- summary, 94t
- prioritization, 111
- proposals, 101
- prospects, side hustle threat, 111–112
- purpose, determination, 112
- pursuit, determination, 112–119
- quality, 27
- appearance, 81
- examples, 83–85
- quitting, impact, 120
- recruiters, engagement, 138–139
- results, time requirement, 111
- rewards/pay/promotion, fairness, 33
- search, focus, 122–125
- situation, summary, 35–37
- solutions, imagining, 100
- starting point, determination, 25
- strengths, identification, 82–90
- success, appearance, 134
- supplementation. See Side hustle.
- team, growth potential, 126
- time, requirement, 110–111
- trade-offs, exercise, 92–93
- transitions, questions, 132
- tweak
- helpfulness, 99t
- improvement, 105–106
- tweaking
- brainstorming, 106t
- process, 97
- term, identification, 98
- understanding, 15
- win-win, 100–101
- worst-case scenario, 120
- Jobs, value
- addition, 29–30
- attainment, 28–29
- perception, 33–35
- role, alignment, 32–33
- L
- Leadership, 88
- Lender debt, inventory, 73
- Liability insurance, 213
- Life
- appearance, identification (exercise), 90–92
- coaches/therapists, 245–246
- control, 11–12
- diversification, 109–110
- flexibility
- living expenses, impact, 11t
- saving, 155
- quality, 95
- gauging, 32–33
- improvement, 32
- Life insurance, 216–219
- beneficiary designation, 222
- cost, 219
- needs, estimation, 218t
- policy
- duration, 217
- investment component, addition (decision), 218
- survivors, benefit level (determination), 217–218
- term life insurance, permanent life insurance
- contrast, 216–219
- decision factors, 217–219
- LinkedIn profiles, usage, 123
- Liptak, Adam, 19
- Liquid assets, illiquid assets (contrast), 44
- Living expenses, 212
- impact, 11t
- months, saving, 49
- Living trusts, 222–223
- Living wills, usage, 220–221
- Lottery, winning (dream), 10
- Lynch, Peter, 175
- M
- Magidson, Caitlin, 245, 247
- Management, job factor, 83
- Managers
- job impact, 34
- proposals, 101
- Mandatory goals, 154–155
- Market value, increase, 30–31
- Maslow, Abraham, 17
- McGinnis, Patrick, 107
- McGoff, Brock, 117–118
- McGoodwin, Lauren, 23, 35, 101, 123
- Mental fitness, 238–239
- Miller, Scott, 233, 238
- Mindset, importance, 228–229
- Minimum salary, requirement, 48
- Money
- amount, availability, 40
- borrowing, responsibility, 49
- depletion, path, 45
- extra, earning, 109
- impact, 253
- importance, myth, 16–18
- saving, –6, 48
- spending, examination, 60–61
- work, connection, –2
- Monthly costs, estimation, 46
- Mornings, exploitation, 233–234
- Moross, Richard, 130
- Mortgage, refinancing, 68
- Must-haves (goals), 160
- Mutual funds
- N
- Net income, expenses (relationship), 48
- Net revenues, determination, 119
- Networking, 139
- follow-up, 130
- learning/listening, 129–130
- procedure, 128–131
- time allotment, 128–129
- usage, 126–131
- value, addition, 130
- Net worth
- calculation, 41–42
- automated method, 42
- old-school method, 41–42
- checking, 45
- current price, purchase price (relationship), 44–45
- equation, 40
- importance,
- metric, 40–42
- template, 41t
- Nice-to-haves (goals), 161
- O
- O'Connell, Stefanie, 21–22
- Office environment, impact, 32
- O'Meara, Rachael, 239
- One-bedroom apartment, savings (requirement), 160t
- One-fund portfolio (target-date fund), 193–194
- advantages/disadvantages, 194
- fees, problems, 194–195
- naming convention/fees, 194t
- Online (job) research, usage, 123
- Online searches, usage, 124
- Online tax calculator, usage, 48
- Opportunities
- exploration, job (supplementation), 107
- testing, 108
- Optional goals, 155
- Oransky, David, 203–204, 219
- Original investments, earnings on earnings (contrast), 167t
- Out-of-network providers, flexibility, 209
- Outside interests, examples, 88–89
- Outstanding balance, inventory, 73
- P
- Pasricha, Neil, 118–119
- Passive investing, active investing (contrast), 179–181
- Past work, reflection, 113
- Paycheck, analysis, 48
- Peace of mind, achievement, 237–239
- People
- interactions, 234–237
- meeting, 109
- Permanent life insurance, term life insurance (contrast), 216–219
- Perquisites, usage, 108–109
- Personal activities, scheduling, 232–233
- Personal belongings, coverage, 212
- Personality tests, results, 90
- Personal loans, usage, 75
- Phone fees, negotiation, 64–65
- Portfolio
- asset-located portfolio, 197–199
- base portfolio structures, 202t
- complications, robo-advisors (impact), 201
- one-fund portfolio (target-date fund), 193–194
- options, evaluation, 193–203
- rebalancing process, 191–192
- three-fund portfolio, 195–197
- Portfolio construction, 187
- goals, review, 189–191
- prerequisites, 188–189
- Portfolio diversification
- building, mutual funds/ETFs (usage), 176–177
- holdings, contrast, 173–174
- Power of attorney, usage, 221
- Predictability, job factor, 83
- Preferences, identification, 82–83, 90–93
- Premium
- amount, payment, 211
- term, usage, 207
- Prestige, importance (myth), 16–18
- Pretax investment. See Tax-deferred investment
- Primary care physician, visit (requirement), 209
- Priorities, identification, 90–93
- Private student loan refinancing, 76
- Problems/projects, questions, 89
- Proctor, Bob, 253
- Professional activities, scheduling, 232–233
- Professional goals, 155
- Property insurance, 212–213
- personal belongings, coverage, 212
- replacement cost, actual cash value (contrast), 213
- Property, titling, 222
- Proposals. See Jobs; Managers
- Protection
- assets, relationship, 214–215
- income dependence, 216–219
- insurance types, 207–213
- R
- Ramaswamy, Veena, 76
- Recruiters, engagement, 138–139
- Refinancing
- personal loans, usage, 75
- private student loan refinancing, 76
- usage, 74, 75
- Renters insurance
- coverage, 212–213
- decision reason, 214
- Rent, negotiation, 68
- Replacement cost, actual cash value (contrast), 213
- Résumés
- base résumés, 142
- bullets, usage, 140
- clarity, 140–141
- customization, 141–142
- keywords, usage, 142
- Retirement
- accounts, beneficiary designation, 222
- money, saving, –6, 155
- Returns. See Investment returns; Risk
- Ries, Eric, 139
- Risk, return (contrast), 170–173
- Robo-advisors
- considerations, 199–201
- problems, 201
- target-date fund, contrast, 200
- Roles. See Career; Job roles
- prioritization, 133
- research, 142–144
- skills, requirement, 133
- time/money, requirement, 133
- Roommate, obtaining, 69
- Roth, Allan, 179
- Roth investment. See Tax-free investment
- Roubini, Nouriel, 176
- S
- Salary, contribution, 70
- Sanity, maintenance, 237–239
- Savings goals, 155
- Saying no, learning, 237–238
- Schedule audit, 231–232
- Schedule, job factor, 83
- Sehgal, Kabir, 20
- Self-comparison, cessation, 236–237
- Self-help, importance, 239
- Self-management, 88
- Seriousness, reduction, 230–231
- Service providers, 241
- answers, 242
- bias, absence, 242–243
- deliverables, 248
- experience/credentials, 246–247
- expertise, 247
- fees, 248
- fit/rapport, 247
- offerings, 242–243
- types, 243–246
- vetting process, 246–248
- Services, cancellation, 64
- Sethi, Ramit, 60, 61, 231
- Shared interests, determination, 129–130
- Shopping expenses, reduction, 65, 65t
- Side hustle (job supplementation), 107–109
- action, 115
- adjustments, 117–119
- areas, exploration, 112–113
- base case scenario, 120
- business
- coach, enlistment, 114–115
- models, exploration, 113, 114t
- case studies, location, 113
- entry, decision, 119–120
- evaluation, 117–119
- extra money, earning, 109
- funding strategy, consideration, 113–115
- industry experts, knowledge (usage), 114
- Internet search, 114
- job threat, 111–112
- life, diversification, 109
- mapping, 116t–117t
- needs, satisfaction, 108
- net revenues, determination, 119
- perquisites, 108–109
- practicalities, 110–112
- purpose, determination, 112
- pursuit, identification, 112–119
- results, time requirement, 111
- time, requirement, 110–111
- type, determination, 112
- Skills
- advanced degree program, usage, 136
- classes/webinars, 135–136
- examples, 88
- gaining, 108
- gap, closure, 134–136
- learning opportunities, 135–136
- volunteering, impact, 136
- Social media, self-comparisons (cessation), 236–237
- Social pressures, combatting, 235–236
- Standard & Poor's 500 (S&P500) return, breakdown, 171t
- Steib, Mike, 232
- Stocks
- allocation, execution (example), 198t
- investment
- partial company ownership, 169–170
- risk/return characteristics, 171
- winners, selection consistency (impossibility), 175–176
- Strengths, identification, 82–90
- Stress level, job factor, 83
- Student loans
- consolidation, 73
- debt, reduction, 72–73
- options, 76
- private student loan refinancing, 76
- refinancing, 74, 75
- Subscriptions, cancellation, 64
- Success, appearance, 134
- Survivors, benefit level (determination), 217–218
- T
- Target-date fund. See One-fund portfolio
- robo-advisors, contrast, 200
- Taxable investment, 181
- Tax-deferred investment (pretax investment), 181
- consideration, 184
- Roth investment, contrast, 182–184
- Tax-efficient investments, 198
- Taxes
- reduction, 69–72
- employee benefits, usage, 70
- Tax-free investment (Roth investment), 181
- consideration, 184
- pretax investment, contrast, 182–184
- Tax-inefficient investments, 198
- Tax-loss harvesting, problems, 200–201
- Teams
- projects, involvement, 136
- research, 143
- Term life insurance, permanent life insurance (contrast), 216–219
- Therapy, money (saving), 246
- Three-fund portfolio, 195–197
- advantages/disadvantages, 197
- construction, funds usage (example), 196t
- Time, usage (efficiency), 111, 231–234
- Transfer-on-death accounts, beneficiary designation, 222
- Transfers, balancing, 75
- True calling, myth, 20
- Tweaking. See Jobs
- U
- Umbrella/liability insurance, 215
- V
- Value. See Jobs
- addition, 130
- clarification, 131
- increase. See Market value.
- role, alignment, 32–33
- Vanderkam, Laura, 231
- VantageScore-based scores, 52
- Variable monthly expenses, 47
- Voluntary activities, forgoing, 110
- Volunteering, 136
- W
- Wang, Jim, 118
- Wealth protection, 205
- Weekdays, envisioning, 91, 91t
- Weekend days, envisioning, 91, 91t
- Welch, Jack, 23
- Whitney, Meredith, 176
- Why questions, answers, 144
- Wills
- living wills, usage, 220–221
- usage, 220–221
- Win-win (jobs), 100–101
- Wolfe, Paul, 129, 132
- Wong, Kristin,
- Work
- hours, job factor, 83
- impact, questions, 30
- money, connection, –2
- past work, reflection, 113
- responsibilities, reward, 33
- schedule flexibility, impact, 32
- work-life balance, myth, 22–23
- Working, goal (myth), 18–20
- Workload, comparisons, 127
- Worst-case scenario (jobs), 120
- Worth, estimation,
- Wrzesniewski, Amy, 29, 98
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