3 vital ke.ys to we.alth WalletDoctorBlog!

Hi WalletDoctorBlog;

There are three simple keys to becoming
permanently wea.lthy. If you master these keys
and integrate them into your daily life. You will
start to notice how many people are actually going
backward on the road to ric.hes!
Key #1: Maximize your earnings. Look for
creative ways to make extra mon.ey in your spare
time. Alternatively, if you have a stay at home
spouse then fully support them in making extra
mon.ey.
Key #2: Eliminate or drastically reduce your debts.
Do not make get a second mortgage on your
home to meet you ca.sh needs unless your only
other opportunity is �Guido the lo.an shark!�
The Dit.ech marketing tagline is �Another lo.an
lost to Dit.ech� but it would be more accurate if
it were �another sucker stepped into our bear
trap!� The Federal Deposit Insurance Corporation
that insures your bank deposits for instance offers
strong warnings against seeking a second mortgage
when you are ca.sh strapped (http://www.fdic.gov/consumers/consumer/predatorylending/index.html)
as does the Federal Trade Commission (http://www.ftc.gov/bcp/conline/pubs/homes/eqscams.htm ).

http://www.walletdoctor.com/stockcd.htm

Here is a checklist of things you can do right
now to become debt free:

1: Look out for wasteful expenditures in your household (make sure your significant other is on board in this area).

http://www.walletdoctor.com/stockcd.htm

2: Do not buy a new vehicle after you ca.sh out
the lo.an. This is a significant and short term
source of savings for most families. If you
immediately begin paying what you were
paying on your monthly car payment into an
investment retirement account such as a Roth
IRA you will be getting richer instead of
expanding your lifestyle or wasting the extra
mon.ey. Sit down and plan with your partner
now what you will do when you ca.sh out your
car lo.an. My wife and I saved $600.00 of the
$700 we were paying monthly on our car lo.ans
or $7,200.00 annually. If you did this you would
only be short $800.00 to make the full contribution
this year to both you and your significant other�s
Roth IRA! If you saved or earned an extra $3.08
per each of the 260 working days in a year you
would cover the additional $800.00 short fall.

http://www.walletdoctor.com/stockcd.htm

2: Use some of the mon.ey you were paying
on a car lo.an to accelerate your mortgage. For
instance if you were to put $100.00 of the $700.00
in the preceding example toward the principal
balance of a $100,000.00 mortgage originated
at 6% for thirty years at the time you buy your
residence you would reduce the payoff date by
nine years and save $39,551.45 in interest
payments! This is called �accelerating� a
mortgage.

http://www.walletdoctor.com/stockcd.htm

3: Follow Warren Buffet�s investing advice
for the mon.ey you save in your Roth IRA.
Look for large, well managed companies that
are undervalued in terms of share price then
buy and hold for long term gains over years or
even a decade or more. Learn to get out when
the market is hyped up to ridiculous heights as
it was in 1999 and 2000. It was during this
period that virtually all corporate insiders were
dumping their optioned shares on the public
(Read Yale English professor and financial
journalist Maggie Mahar�s, delightful book �Bull!�
for an eloquent description of how inside corporate
America pulled off the �pump and dump� scheme
of the century without a single SEC subpoena).
Avoid short term, highly leveraged, fast buck
investment strategies like futures, futures options,
and stock options as an investment vehicle no
matter how well known the author/ speaker/
guru is. Remember that many financial gurus
do not walk their talk. They are intent on making
lots of mon.ey selling courses to support their own
excessive lifestyle.

http://www.walletdoctor.com/stockcd.htm

Key #3: Learn to invest intelligently what you
save. Successful investing takes patience, resolve,
discipline, forgiveness of mistakes, and consistency.
In my many years as both a finance professor and
investor my personal observation is that women
have more of these characteristics than men. The
one difference I have noted is that women do not
always exploit these natural strengths for fear of
loss, or fear of what other people will say if people
were to find out they invest. Don�t let your fear
hold you back but be methodical in learning about
the stock market before you commit your hard
earned savings.

http://www.walletdoctor.com/stockcd.htm

Don�t ever forget that a strong man is one who
fully supports the woman he loves. A strong man
has sufficient self confidence to continue working
as a team even if his wife earns more as was the case
throughout most of our marriage. A strong man
understands the power of unity throughout his
relationship with the women he loves. If you are a
woman reading this then recognize that you should
never tolerate a man who belittles you in any way;
who makes you think that you cannot invest or
manage your mon.ey just as well or even better
than he does. You do not need a man by your
side to complete yourself but on the other hand
fairy tale romances really do exist if you are
ready. If you let your higher mind guide you
to the right partner you will truly find a
relationship made in heaven.

http://www.walletdoctor.com/stockcd.htm

My wife and I do all of our financial planning
together as a team. My fearlessness can also
lead to impetuousness which is balanced by
her level head. I firmly believe that the best
investors of all are a unified team of loving
husband and wife or loving life partners.
Love and forgive one another with all your
hearts and you will find your common ground
and your invulnerability. We each have individual
strengths but when two minds commune the resulting
unified mind is much, much stronger than the parts!
Go here now if you are ready to learn about stock
investing:

http://www.walletdoctor.com/stockcd.htm

-Scott

Ps. I just posted an answer to a great question from a 25 year old woman saving to purchase her dream home. Don�t forget that you have to hit the register button if you have never been in. I created the Wallet Doctor discussion board for you so don�t be bashful about using it!

http://walletdoctor.com/thedoctorisin/login.php

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