Get my 5-day email funnel that generated $400,000 from a single launch

Want an email sales funnel that's already proven to work? Get the entire word-for-word email funnel that generated $400,000 from a single launch and apply it to your own business.

Yes! Send me the funnel now
Start Here: “The Ultimate Guide to Personal Finance”

Financial makeover is not done yet

16 Comments- Get free updates of new posts here

0

Carl writes:

Whatever happened to the rest of your 2006 Makeover? I see you stopped after step 3.

I know, I know. I’m not done. There’s still more to write, including Roth IRAs and other stuff. Let me try to get it up in the next few days.

If you have specific things you want to see in Step #4, leave a comment here.

(See steps #1, #2, and #3.)

0

Related Articles

standard post picture

How to not hate live events

I recently spoke at a conference in the Bay Area where the speaker introduced me as saying, “AND WE GOT ...

Read More
untitled-design-9

The diffusion of responsibility: Why you need to stop CC’ing people

I receive 1,000+ emails every day. And while I read every one of them, most emails get ignored. That’...

Read More

16 Comments

0
 

Leave a Reply

16 Comments on "Financial makeover is not done yet"

Notify of
avatar

Sort by:   newest | oldest
karishma
10 years 6 months ago

What I’d like to specifically see your opinion on is the investment vs. repaying debt question. For those of us who recently graduated from college with a ton of student loans (relatively low interest) and possibly credit card debt (high interest), would it be better to focus on getting out of debt, or should we be aggressively investing in order to make the most of that compound interest vs time thing.

I’ve heard various opinions, so I’m curious to know what you think.

Ari
Ari
10 years 6 months ago

I’ve been waiting for step 3 for a while – I’d love to have a focus on setting up an investment account and suggestions for exactly what to do to start. I’m not talking about “now you buy some stocks”. I’m thinking more along the lines of “if you’ve got 1000 to start with, you could do worse than to put 500 in the Vanguard 500 and 500 in xxx”.

justanotherblogger
10 years 6 months ago

Karishma, I think the answer is quite obvious in your situation. OF COURSE you pay off your high interest debt (credit cards) first.

The compound interest over time thing also works AGAINST you when you have debt (especially credit card debt). Just keep that in mind.

Lori
Lori
10 years 6 months ago

My question is along the lines of the first poster as far as paying off student loans. But for us the alternative isn’t paying off credit cards its saving and investing. Between my husband and I we have a total of $50,000 in student loans. We are also wanting to save up for a down payment for a house. What is best… saving or getting rid of student loan debt? Currently our student loans are about the same interest rates as most online savings accounts (HSBC & ING).

Don
Don
10 years 6 months ago

I’m currently in need of life insurance…is that something that could be included in Step 4? Or perhaps have it’s own post…

One term plan I’ve looked into will return your premiums after the term is up (assuming you didn’t have to use it, of course). I’ve been wondering if it’d be better to just buy regular term and invest the difference…

HRP
HRP
10 years 6 months ago
Currently, I have some money saved up just for investment purposes. I’m 23 years old, and having a bit of trouble finding a good place to invest the money. (It’s just sitting in a savings account right now) I don’t know where to start. Should I put 80% into index funds, and 20% into individual stocks? Time Horizon: the only thing I might need the money for is when i go to grad school in 2-3 years and/or when Im ready to buy a house. If I find other means for the two goals mentioned above, then I’m just looking… Read more »
rtyuiopcv
10 years 6 months ago

I want to see in Step #4. Please show me.

EFH
EFH
10 years 6 months ago

I’d like to see a more detailed writeup on investing. How to evaluate (index) funds, stocks, etc. And perhaps also how to handle risk management/decide portfolio distribution.

Grayden
10 years 6 months ago
One thing that might be worth talking about as part of the Financial Makeover is being realistic about housing, transportation, and lifestyle. A lot of people get a bit crazy with spending when they get their first job that pays more than peanuts. For the last several years I’ve been paying far more than I’ve needed to because I felt that I needed to live in a NICE apartment. After living in a nice place for a while and even upgrading to a better place, I realized that I was throwing away half of my income on living expenses and… Read more »
Jim Kane
10 years 6 months ago

One area that was noticeably absent from steps 1-3 was emergency funds. It seems like this ought to have made it into the top 3, since having such a fund greatly increases your chance of actually doing the other stuff successfully. Anyway, bring it on in Step 4!

Jenn L.
Jenn L.
10 years 6 months ago

Just new to this site here and read step #1 and a bit of #3 (2+3 are on the way). Nice blog you have here…

Anyway for step# 4 (or in teh future article), it would be nice of all the fallacies people struggle in the past – like why couldnt they save money – of what cost us more that no americans are saving?! Also would like to see some tips of buying or investing stocks, like which stock to buy (or not).

Junko
Junko
10 years 6 months ago
I am new to investing. Heck, I am new to savings in general. I am 30 and still have $55K in debts, that I hope to pay off in around 3 years. (I dedicate $1500/month in debt payments) Anyways, even though I do not have much free money to dedicate to savings and retirement now, I do alot of thinking in terms of how to maximize savings and retirement when I can finally switch from debt-payment mode to savings mode. My plan… 1.) Maximize my 401K contribution. 2.) Maximize my Roth IRA contribution. 3.) Contribute to a taxable brokerage account.… Read more »
Anonymous
Anonymous
10 years 6 months ago

I think some people would like more detailed investing strategy, though I don’t think it’s a logical continuation of the series.

I would like to hear your take on ETFs vs. index funds.

Ryan Steckler
10 years 6 months ago

A couple of things that I’d like to see in the 4th installment:
1) Investing basics (“You don’t have to BEAT the market…just match it to make money”)
2) Employment benefits and what to do with them (“ESPP, options, 401k”)
3) Taxes and how to avoid them (legally) (“Tax deferred savings, capital gains, why paying taxes later is better than now, why day trading isnt as effecient as holding, rebalancing your portfolio to take advantage of capital losses”)
4) Portfolio basics (“asset allocation, Index funds, ETFs”)

This is a great site and you do great work. Keep it up!

-Ryan

Nabs
Nabs
10 years 6 months ago
Ok, what about investing past ETFs, Index funds, mutual funds, stocks, etc. Something that is not over valued because everyone and their mom are doing it. What about REITs, bonds, and maybe foreign exchange, commodities, futures, and options. Granted some have steep learning curves, and not everyone will have the time or patients to dedicate to learning and investing in them. But I’m sure some would be and others might become interested after being exposed to them. (I have a feeling that most people haven’t even heard of these investments, though I do not know for sure). Anyway, great site… Read more »
Mike
10 years 6 months ago

A much later step, how to avoid being over taxed on your investments!

wpDiscuz