Financial Mastery for the Career Teacher

by Gene Siciliano

Overview

The money management book that no educator can afford to be without!

Teaching has many rewards, including the opportunity to change young people's lives and make a meaningful difference in a community every day. However, despite the important work they do, teachers often find themselves struggling to survive on a teaching salary.

Written by certified financial advisor and award-winning speaker Gene Siciliano, Financial Mastery for the Career Teacher is a comprehensive yet concise primer for educators balancing modest salaries with skyrocketing expenses in challenging economic times. From basic money management to advanced investments, the author covers the personal finance questions and concerns that all educators face, including:

• Providing for a family on a teacher's salary
• Making every dollar stretch
• Buying a home
• Managing debt
• Planning for retirement
• Understanding and purchasing insurance
• Investing in the stock market or real estate
• Taxes and tax planning

This book offers tips and guidelines for all teachers, from those just starting out to long-time veterans. Money concerns shouldn’t distract you from your teaching. Start planning your financial future now so you can have a fulfilling career as a teacher and still come out ahead!

Product Details

ISBN-13:	9781629149486
Publisher:	Skyhorse
Publication date:	10/21/2014
Sold by:	SIMON & SCHUSTER
Format:	eBook
Pages:	172
File size:	2 MB

About the Author

Gene Siciliano is a financial management consultant. He currently resides in Redondo Beach, California.

Table of Contents

Acknowledgments
About the Author
1. Why This Book Was Written and Why You Should Read It
2. Your Personal Business Plan: The Master Road Map
Setting Goals
Creating Your Family Budget
3. Managing Your Paycheck: The Source
Setting Up Your Payroll Deductions
Spending Less Than You Earn: Ideas for Stretching Your Dollars!
What to Do With That Annual Bonus
4. Family Finances: Taking Care of the Family's Wish List
College Financial Planning
Life Insurance for the Kids?
Vacation Financing
5. Managing Debt: When You Have Too Much of a Good Thing
Debt Can Stress Your Marriage to the Breaking Point
Credit Cards: Huge Differences Exist Just Beneath the Surface
Getting Help Before It's Too Late: Debt Counseling Services
6. Insurance: Just in Case
Life Insurance
Health Insurance: Staying Healthy
Disability Insurance: In Case Something Breaks
Long-Term Care Insurance: For the Later Years
7. Savings Accounts for Your Cash
The Value of Saving Early: The Power of Compound Interest
How Much Cash Can You Save?
The Rainy-Day Fund
Savings Accounts
Money Market Funds
Certificates of Deposit
8. Buying a Home: Realizing the American Dream
How Much Home Can You Afford?
First Mortgage, Second Mortgage, Equity Credit Lines: The Language of Real Estate Finance
Balloon Payments: A Funny Name for a Not-So-Funny Event
The Home Equity Line of Credit
Structuring Your Payments: Taxes, Insurance, and Impounds
Refinancing for Cash-Out, for Lower Rates, for Better Terms
Teaser Rates, Interest Only, Negative Amortization, and Other Financial Land Mines
Final Thoughts on Home Ownership
9. The Stock Market: All About Bulls and Bears
Risk Tolerance: Where You Are in Your Life and How Securities Fit Into It
How Much Pain Will You Accept Along the Way?
Investing Strategies Overview
Types of Companies You Might Choose to Invest In
10. Other Ways to Own Companies (Besides Starting Your Own)
Other Equity Choices
Bonds: The Safety of Fixed Income
Buy, Sell, or Hold? How to Decide When and How Much
Your Personal Investment Policy
11. Buying Investment Real Estate
Your Home Comes First
So Many Choices, So Little Time
The Nature of the Investment and the Returns You Might Expect
The Power of Leverage
Shared Investment Methods
Your Tax Dollars at Work
If You Want to Know More
12. Taxes and Tax Planning: Keeping All You Legally Can
Income Taxes: Federal, State, Local
Tax Planning Strategies
Property Tax: Real and Personal
Filing Tax Returns: Don't Do It Yourself!
Getting Help: A CPA or Tax Preparer
Tips for Avoiding an IRS Audit
13. Technology That Can Help You
Personal Bookkeeping Software
Online Banking
Protecting Yourself From Identity Theft
14. Retirement Planning: So You Can Live Well for 100 Years
A Checklist for Those in Midcareer
Assessing Your Postretirement Needs
The Home Mortgage Monkey
When to Sign Up for Social Security
Getting Help: The Financial Planner
15. Wills and Trusts
Your Will: Your Last Opportunity to Have It Your Way
Trusts: Making Decisions Now That Provide Long-Term Benefits
16. Final Thoughts
Index

Editorial Reviews

"Siciliano’s gem of a book is crammed with sage financial advice on topics as far-ranging as budgets and financial goal setting, estate planning, and tips on playing the stock market. Siciliano really knows his stuff, and he writes with such calm, good-natured authority on the full range of financial topics, in a style that is so relaxed and easy going, that you can’t help but feel that you are getting top-notch financial advice from a favorite uncle. He reminds us that we need to approach financial planning the way we approach teaching: clear-eyed, armed with facts, and with our eyes on the prize. "

Janet Carroll

"I wish I’d had this book when I began my teaching career many years ago. It is written in a practical, easy-to-understand format with multiple examples and recommendations. This book should be given to every new teacher as soon as they sign their teaching contract. While it is written specifically for teachers, I think everyone could benefit from the author’s knowledge. "

Cathy D. Hicks