Lecture 32 - 11.17.2008

Lecture 32 - 11.17.2008 - Paying off debts • Home equity...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
AEM 1200 Introduction to Business Management – 11.17.08 Personal Finance Who wants to be a millionaire? Getting a hold of yourself The equity building cycle Affluent people Live well below their means Allocate their time, energy and money efficiently, in ways conducive to building wealth Believe that financial independence is more important than the display of high social  status Were not afforded  economic outpatient care  by their parents Have economically self-sufficient adult children Are proficient in targeting market opportunities Have chosen the “right” occupations Controlling assets 1. Take inventory 2. Track expenses 3. Prepare budget 4. Payoff debts 5. Start saving 6. Borrow only to increase value Where should you invest? Your own business Yourself Education Housing Insurance Investments Stocks Real Estate Retirement Stages of Capital Formation
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Paying off debts • Home equity • Retirement funds • Indirect business investment • Direct business investment Building a capital account • Create/Apply Strategy • Real Estate- Safe • Taxes & Home Ownership • Savings • Manage Credit • Life Insurance • Health Insurance • Homeowner’s or Renter’s Insurance Founding stones of financial success • Integrity – being honest with all people • Discipline – applying self control • Social skills – getting along with people • A supportive spouse • Hard work – more than most people • Amassing wealth requires considerable skill and discipline; • Some “golden” rules Always pay your debts first and foremost Use credit sparingly, if at all Use your job as your R&R Cultivate courage You are your own boss and entrepreneur....
View Full Document

This note was uploaded on 08/28/2009 for the course AEM 1200 taught by Professor Perez,p.d. during the Fall '06 term at Cornell.

Page1 / 2

Lecture 32 - 11.17.2008 - Paying off debts • Home equity...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online