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    Stop Living Paycheck to Paycheck: The Six Secrets to Building Wealth
    Stop Living Paycheck to Paycheck: The Six Secrets to Building Wealth
    Stop Living Paycheck to Paycheck: The Six Secrets to Building Wealth
    Ebook108 pages2 hours

    Stop Living Paycheck to Paycheck: The Six Secrets to Building Wealth

    By Larry Darter

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    About this ebook

    Living paycheck to paycheck is hard. As television personality and author Bill O'Reilly once observed, "Living paycheck to paycheck renders one powerless." Your paycheck always seems to be spent before you even get it. The money comes in and the money goes right back out. It's a stressful way to live, constantly worried whether you're going to be able to make ends meet with too much month always left at the end of your money. Regardless of income, people all across America are trapped in the cycle. Living paycheck to paycheck isn't just an affliction of the working poor. It cuts across all socioeconomic boundaries. Many people believe if they only had more income they would finally be able to get ahead and on their way to financial independence. Unfortunately, more income is rarely the answer. Most people simply become mired even deeper in living payday to payday, just at a higher income level. The more they earn the more they spend, and the cycle continues. Thankfully there is a way out of living payday to payday, a way that helps you grow wealthy gradually. Rather than just another Band-Aid approach, it's a real remedy that gets at the real root causes of the living paycheck to paycheck cycle. The cure is six secrets to building wealth. These six timeless, interconnected, common sense principles of money management form a complete, cohesive, wealth-building personal financial plan that works for anyone, regardless of income. If you're living paycheck to paycheck, read Stop Living Paycheck to Paycheck: The Six Secrets to Building Wealth. You will be glad you did.

    LanguageEnglish
    PublisherLarry Darter
    Release dateMar 29, 2016
    ISBN9781310394850
    Stop Living Paycheck to Paycheck: The Six Secrets to Building Wealth
    Author

    Larry Darter

    Larry Darter is an American author best known for his crime fiction novels written about the fictional private detective Malone. He is a former U.S. Army infantry officer, and a retired law enforcement officer. He lives with his family in Oklahoma.

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    • 4/5
      Straight to the basics. Basic but very useful and easy to read. Has a few typos but that's ok

    Book preview

    Stop Living Paycheck to Paycheck - Larry Darter

    Stop Living Paycheck to Paycheck: The Six Secrets to Becoming Wealthy

    Six common sense and powerful money management secrets that can help you escape living paycheck to paycheck and put you on the path to building real wealth.

    By Larry Darter

    Copyright © 2016 by Larry Darter

    Distributed by Smashwords

    All rights reserved. No part of this publication may be reproduced in any form, or by any means, electronic, mechanical, or otherwise without the expressed consent in writing of the copyright holder except for the inclusion of quotations in a review.

    Although the author has thoroughly researched all sources to ensure the accuracy and completeness of the information presented in this book, we assume no responsibility for inaccuracies, errors, omissions, or inconsistencies contained herein.

    No opinions expressed in this book should be construed as a specific inducement to make a particular investment or follow a particular strategy. While opinions expressed in this book by the author are based upon information he considers reliable, the author does not warrant its completeness or accuracy. When it comes to investing, past performance is no guarantee of future results. The author guarantees no specific outcome or profit. The reader must be aware of the real risk of loss in following any investment strategy or investment discussed in this book. The information presented in this book does not take into account the particular investment objectives, financial situation, or needs of any particular person and is not intended as recommendations appropriate to any particular person. Before acting on the information presented in this book the reader should consider whether it is suitable for his or her particular circumstances and should consider seeking advice from his or her own financial or investment advisor.

    ____________

    ISBN 9781310394850

    For Suzy who teaches me that happiness is the greatest wealth and love the truest riches.

    Contents

    Foreword

    Chapter 1 Understanding the Paycheck to Paycheck Cycle

    Chapter 2 First Secret: Start Building Wealth

    Chapter 3 Second Secret: Spend Less Than You Earn

    Chapter 4 Third Secret: Grow Your Wealth

    Chapter 5 Fourth Secret: Protect Your Wealth from Loss

    Chapter 6 Fifth Secret: Buying a Home is Still the Best Investment

    Chapter 7 Sixth Secret: Assure Your Future Wealth

    Chapter 8 Putting It All Together

    About the Author

    FOREWORD

    Living paycheck to paycheck is an expression that describes a person who would be unable to meet his or her financial obligations if faced with a serious, even short-term significant financial setback. Examples of such financial impediments might be an acute illness or an accident resulting in a short-term disability that prevents a person from being able to work for a significant period of time. Losing a job and being unemployed for an extended period of time would be another example.

    Any of those situations I described would be financially challenging for just about anyone, but they would be devastating for someone living paycheck to paycheck. That's because the income of a person living paycheck to paycheck is primarily devoted to expenses. Such a person is quite literally a paycheck or two away from living on the street should his or her paychecks suddenly stop.

    The definition of living paycheck to paycheck assumes having limited or no savings to fall back on which puts a person at greater financial risk if suddenly unemployed or unable to work than someone who has accumulated a cushion of savings.

    Some might assume that individuals living paycheck to paycheck are what is sometimes referred to as the working poor; people with limited education, limited job skills, and who are predominantly employed in minimum wage jobs. The fact is nothing could be further from the truth. Consider some rather startling facts gleaned from recent studies and surveys that puts a more accurate face on exactly who in America is living paycheck to paycheck.

    A 2013 survey by Bankrate.com found that roughly three-quarters of Americans were living paycheck to paycheck.

    In 2014, an economic study conducted by researchers at the prestigious Brookings Institution found that more than 25 million middle class American families were living paycheck to paycheck. These were families who had decent jobs with median incomes of $41,000, owned homes, and even had funded retirement accounts.

    According to a 2015 survey by SunTrust Bank, one in three people surveyed in households earning more than $75,000 a year said they were living paycheck to paycheck and one in four people in households earning more $100,000 a year said the same thing.

    Clearly, as these statistics show, it isn't just the working poor in America who are living paycheck to paycheck. Living hand-to-mouth seems to be a systemic problem that cuts a wide swath across all American socio-economic levels.

    A living paycheck to paycheck existence, factually a paycheck or two away from living on the street, is a very risky way to live. But it's not only that. It also robs people of both opportunities and happiness. Let’s face it, the more opportunities we have in life, the fuller and more satisfying it becomes. But living paycheck to paycheck serves to severely limit an individual's opportunities and options in so many areas. For example, living paycheck to paycheck can limit a person's job choices, educational choices, the choice of what kind of home to live in, and where he or she can choose to live. It truly affects not just quality of life but every aspect of life, not just a person's financial well-being.

    No one really chooses to live paycheck to paycheck. People find themselves in the situation for a number of different reasons. Sometimes individuals and families are forced into it by circumstances beyond their control. Some live paycheck to paycheck because they just never had an opportunity to learn effective money management skills. As a result they may have made some bad financial decisions.

    For those living paycheck to paycheck the reasons why aren't important. That is history and as we all well know, there is nothing we can do to change history. What is important for those individuals and families is getting the opportunity to have a better future by improving their financial circumstances so that they can enjoy a richer and fuller life and the chance to start building wealth. That is what this book is about.

    The fact that you picked up and are reading this book suggests that you may see yourself as someone who is living paycheck to paycheck. Maybe it always seems there is far too much month left at the end of your paychecks. It also suggests you are tired of living a life where you go to work every day and work hard, but never seem have anything to show for it or never get ahead financially. More importantly your interest in reading this book indicates you are not only looking for a way out from under living paycheck to paycheck but are ready to take action to change your financial circumstances. I believe the information in this book can help you.

    This is not a book about another get rich quick scheme. There are enough books like that out there already, masquerading as personal finance advice books. If you were looking for that, you might as well put this book aside now and look for something to read more like How to Make $1,000,000 as a Day Trader Automatically.

    What you will find in this book are six

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