Read Soldier of Finance Online
Authors: Jeff Rose
Soldier of Finance
FINANCE
TAKE CHARGE OF YOUR MONEY AND INVEST IN YOUR FUTURE
JEFF ROSE,
CFP
®
American Management Association
New York
AtlantaBrusselsChicagoMexico CitySan Francisco
ShanghaiTokyoTorontoWashington, D.C.
Bulk discounts available. For details visit:
www.amacombooks.org/go/specialsales
Or contact special sales:
Phone: 800-250-5308
Email:
[email protected]
View all the AMACOM titles at:
www.amacombooks.org
American Management Association:
www.amanet.org
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
Library of Congress Cataloging-in-Publication Data
Rose, Jeff (Business writer)
   Soldier of finance : take charge of your money and invest in your future / Jeff Rose.
      pages cm
   Includes index.
   ISBN 978-0-8144-3328-7 (pbk.) â ISBN 0-8144-3328-6 (pbk.) 1. Finance, Personal. 2. Investments. I. Title.
   HG179.R647 2013
| Â Â 332.024--dc23 | 2013007813 |
© 2014 Jeff Rose
All rights reserved.
Printed in the United States of America.
This publication may not be reproduced, stored in a retrieval system, or transmitted in whole or in part, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019.
The scanning, uploading, or distribution of this book via the Internet or any other means without the express permission of the publisher is illegal and punishable by law. Please purchase only authorized electronic editions of this work and do not participate in or encourage piracy of copyrighted materials, electronically or otherwise. Your support of the author's rights is appreciated.
ABOUT AMA
American Management Association (
www.amanet.org
) is a world leader in talent development, advancing the skills of individuals to drive business success. Our mission is to support the goals of individuals and organizations through a complete range of products and services, including classroom and virtual seminars, webcasts, webinars, podcasts, conferences, corporate and government solutions, business books, and research. AMA's approach to improving performance combines experiential learningâlearning through doingâwith opportunities for ongoing professional growth at every step of one's career journey.
Printing number
10 9 8 7 6 5 4 3 2 1
DEDICATION
To my wife,
Mandy
, who supports and inspires me in everything I do. Without your constant encouragement this book would continue to be just another “big idea.”
To my three boys,
Parker, Bentley
, and
Sloane
, who give me the drive to be a better father, provider, and leader.
To all our
U.S. military service men and women
who continue to fight for our freedom.
In memory of
SSG Joshua Melton
, a true American hero who volunteered to defend the country he loved so that his wife, daughter, and future generations would always know freedom.
Â
Â
The test of success is not what you do when you are on top. Success is how high you bounce when you hit bottom.
âG
EORGE
S. P
ATTON
The Purpose of
Soldier of Finance
DISCOVERY PHASE: WHAT IS YOUR WHY?
Debriefing: A Soldier of Finance Success Story
2
   TIME TO ENLIST AND TAKE AN OATH
INITIAL TRAINING PHASE (WEEKS 1â5)
3
   WEEK 1: THE ARMY PHYSICALâMEASURE YOUR DEBT
Your Financial Status: Stop Being in Denial
Debriefing: The Meaning of
“Not Much Debt”
P/X Rangers (or Living Beyond Your Means)
4
   WEEK 2: ROSTER NUMBERâYOUR CREDIT SCORE FOR LIFE
Credit Scores and Your Mortgage
5
   WEEK 3: LAND MINESâYOUR CREDIT REPORT
Where to Get Your Free Credit Report
Carefully Verify the Information
6
   WEEK 4: THE LOW CRAWLâCREDIT REPAIR
Debriefing: No Credit to Good Credit
Get the Most Out of Your Credit Cards
Watch Out for Credit Card Company Dirty Tricks
7
   WEEK 5: LAND NAVIGATION CERTIFICATIONâIDENTIFY YOUR GOALS
Define Your Mission Objectives
Op Orders: How to Achieve Your Mission
8
   WEEK 6: ACCOMPLISHING GOALSâFROM CHAOS TO PRECISION
9
   WEEK 7: DESTROYING THE ENEMYâPAYING OFF DEBT
Field Artillery: Matching the Cannon to the Objective
Debriefing: Operation Motherhood
10
WEEK 8: SENSITIVE ITEMS REPORTâTACTICAL BUDGETING
The Basic Training Budget: Identify Your Unnecessary Spending
Practice Makes Perfect: Why Soldiers Drill
11
WEEK 9: FRAGOâTHE SAVINGS ACCOUNTS SURVIVAL GUIDE
Making the Most of Your Savings Account
You Are Now Ready for Anything
12
WEEK 10: MANUALS AND ORDERSâGETTING STARTED IN INVESTING
The Magic 10 Percent: A Guideline for Investing
Secure Your Base of Operations
13
WEEK 11: FROM BOOTS TO HUMVEESâBEGINNING INVESTMENT VEHICLES
Use Boots, Not Buses, for Short Distances
Middle-Distance Humvees: Investment Accounts (Individual or Joint)
14
WEEK 12: FIVE-TON TRUCKS AND MRAPsâLONG-DISTANCE INVESTMENT VEHICLES
Take an Active Role with a Roth IRA
Follow the Roth IRA with a 401(k)
The 401(k) for Military Personnel
The Stock Market: Be Careful of the Risks
Diversify Based on the Size of Your Portfolio
CONSOLIDATION PHASE (WEEKS 13â14)
15
WEEK 13: BASIC HOUSING ALLOWANCEâMORTGAGE BASICS
How Much House Can You Really Afford?
What Types of Loans Are Best for You?
16
WEEK 14: YOUR BODY ARMORâYOU NEED INSURANCE
