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Manufacturing Wealth: Taking Advantage of Your Personal Finance Machine [Paperback / softback]

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  • Format: Paperback / softback, 274 pages, height x width x depth: 229x150x20 mm, weight: 431 g
  • Pub. Date: 17-Jun-2018
  • Publisher: North Loop Books
  • ISBN-10: 1635051932
  • ISBN-13: 9781635051933
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  • Price: 24,55 €
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Manufacturing Wealth: Taking Advantage of Your Personal Finance MachineLarger Image
  • Format: Paperback / softback, 274 pages, height x width x depth: 229x150x20 mm, weight: 431 g
  • Pub. Date: 17-Jun-2018
  • Publisher: North Loop Books
  • ISBN-10: 1635051932
  • ISBN-13: 9781635051933
Other books in subject:
Permanent link: https://www.kriso.ee/db/9781635051933.html
Our lives and finances are inseparable. And while there are hundreds of books, websites, and blogs on personal finance offering sound advice and insight, none of them really explain how our finances actually work.This book does exactly that. It explains how our personal finances are not just an impenetrable tangle of income, expenses, assets, and debt, but a straight-forward system – a machine - with inner workings and parts that connect and interact to help move us closer to, or further away from, the lives we want to lead.We all think we understand how our finances work, but, do we really? The average value of a lifetime's earnings is over $15 million. Yet after 40 years of work, we manage to keep less than 2%. If we don't understand how this incredibly powerful machine actually works, we have little hope of harnessing and controlling our finances to achieve our goals.Unfortunately, the "Debt Merchants" know exactly how our finances work, and they are waging a hidden battle for control of our multi-million dollar Personal Finance Machines … and by all measures they are winning …

We all think we understand how our finances work, but, do we really? This book lays out key strategies and patterns to help us keep our hard earned money.
Foreword xi
An Important Note About This Book, the Website, and Personal Finance xiii
Introduction: Life on Elm Street xv
Our Personal Finances Are a Mess xvi
What Is Really Going On xviii
Life on Your Terms xix
Who Is This Book For? xx
SECTION ONE UNDERSTANDING OUR PERSONAL FINANCE MACHINE
1(54)
Chapter 1 Managing Your Personal Finance Machine - A Lifelong Responsibility So Which Financial Path Are You On?
11(14)
Your Money and Your Life Are Inseparably Intertwined
15(2)
Your Personal Finance Machine
17(8)
Chapter 2 Defining All the Moving Parts The Operations Engine™
25(30)
Gross Income (GI)
26(1)
Routine Operating Expenses (ROE)
27(2)
Free Cash Flow (FCF)
29(1)
Cash Reserves (CR)
30(1)
Non-Routine Expenses (NRE)
31(11)
The Asset Engine™
42(1)
Assets
42(1)
Liabilities
43(2)
Net Worth Gain (NWG)
45(1)
Retirement Value (RV)
46(2)
Asset Burden (AB)
48(1)
Putting It All Together: Our Personal Finance Machine
49(6)
SECTION TWO UNDERSTANDING HOW IT WORKS
55(88)
Chapter 3 The Operations Engine: Your Cash Management Machine
57(22)
Cash Reserves
60(1)
Free Cash Flow
60(1)
Cash Burn(CB)
60(15)
Erosion of Free Cash Flow
75(4)
Chapter 4 Asset Burden -- How It Can All Go Sideways
79(18)
Debt Magnifies Asset Burden
83(2)
Locking Up Our Engines
85(1)
Becoming A Drone: A Common Story
86(5)
How Debt Merchants Pave the Road to Becoming a Financial Drone
91(1)
Who Do We Want in Control: Us or the Debt Merchants?
92(5)
Chapter 5 The Asset Engine -- Your Personal Money Manufacturing Machine
97(16)
Net Worth and Net Worth Gain (NWG)
99(2)
Living and Marginal Assets
101(1)
Dead Assets
102(1)
Asset Mix
103(2)
Soft Debt
105(1)
Hard Debt
105(2)
Our Three Families
107(6)
Chapter 6 The Most Powerful Force in the Universe
113(30)
Our Multimillion-Dollar Machine
117(7)
The Time-Value of Money
124(1)
It Only Seems Like Our Incomes Are Going Up
125(3)
The Penalty of Ignoring Compound Interest
128(1)
The Road to a Million
128(3)
Asset Allocation
131(3)
Where Are Our Millions Going?
134(1)
Opportunity Cost Index
135(3)
The Dark Cost of College Debt
138(5)
SECTION THREE HARNESSING OUR PERSONAL FINANCE MACHINE
143(90)
Chapter 7 Achieving Financial Freedom
145(18)
Operational Financial Freedom
145(1)
Structural Financial Freedom
146(1)
Primary Asset Allocation - Structuring Our PFM
147(1)
Primary Versus Secondary Asset Allocation
148(6)
Optimizing Our PFM
154(1)
Dead Assets and Hard Debt
155(2)
The New Way of Thinking
157(1)
Structuring Our PFM
157(6)
Chapter 8 The Big Decisions
163(20)
Cars: An Important Tool of the Debt Merchants
169(3)
Other Dead Assets
172(1)
Owning the American Dream
173(4)
Dead and Marginal Assets
177(6)
Chapter 9 Putting It All Together
183(12)
Primary Asset Allocation Impact on Free Cash Flow
184(1)
The Joneses: Healthy on the outside, a financial wreck on the inside
185(3)
The Smiths: Working hard just to stay even
188(1)
The Millers: Carefree on the outside and on the inside
189(6)
Chapter 10 Taking Control
195(22)
Winning the Battle For Your Money and Your Life
195(6)
Taking Control of Your PFM
201(1)
Step 1 Organizing/Assembling Our PFM - We Have the Parts, But Not the Machine
201(1)
Step 2 Developing a `High Level' Plan
202(3)
Step 3 Structuring Our PFM -- The Millionaire's Roadmap
205(6)
Step 4 Optimizing Our PFM
211(1)
Life Stage-Based PFM Optimization
212(5)
Chapter 11 Establishing Functional Control of Our Finances
217(16)
Where the Rubber Meets the Road
217(5)
Macro Cash Management
222(4)
Using Our PFM Is About Keeping It Simple
226(3)
Final Thoughts
229(4)
Epilogue: Book Summary: The 10 Most Important Things 233(4)
Acknowledgements 237(2)
Glossary 239