The Game Plan For the last in our series on reaching your financial goals, here are some examples you might draw from in order to reach some of the most common financial objectives: 1.Getting out of debt. 2.Paying for college. 3.Financing retirement. Get out of Debt! If you’ve been struggling to make your payments for months on end, you’ve got to face facts. You need to dump or at least consolidate as much of your debt as possible before you can move forward. Maybe you owe a total of $3,000 in outstanding credit cards. You’ve got a 16% interest rate, and your $10,000 car loan is set at 9%. For you to pay down both these obligations in 12 months, you will have to cough up $1,147 every month.

1. Three Important Tips For Financial Security
http://www.empowernetwork.com/and1122/blog/three- important- tips- for- financial- security?id=and1122 December 20, 2012
The Game Plan
For the last in our series on reaching your financial goals, here are some examples you might draw
from in order to reach some of the most common financial objectives:
1. Get t ing out of debt .
2. Paying f or college.
3. Financing ret irement .
Get out of Debt !
If you’ve been struggling to make your payments for months on end, you’ve got to face facts. You
need to dump or at least consolidate as much of your debt as
possible before you can move forward.
Maybe you owe a total of $3,000 in outstanding credit cards.
You’ve got a 16% interest rate, and your $10,000 car loan is set
at 9%. For you to pay down both these obligations in 12
months, you will have to cough up $1,147 every month.
BUT-maybe you’re a homeowner. Do you have equity in your
property? You can borrow $13,000 on your home-equity loan at
9%. Now you only have to pay $1,137 a month to get rid of
those debts inside of a year.
Sound like more hassle t han it ’s wort h?
Listen to this. You can deduct the interest on the majority of all home-equity loans. You thereby
have just reduced your taxable income by $642, which is a savings of $212 if you’re in the 33% fed
tax bracket. Which means the government is helping you pay down your bills.
This option will only work if you stop collecting new debt, though. Once you decide to begin
paying off your credit cards, one of the smartest things you can do is flip everything you would
have spent on new stuff towards paying off the old stuff.
Saving up a college f und
Currently it costs at least $30,000 a year to put a child through a private college-that’s tuition,
room and board-and the bills are only expected to go up. Children born in 2012
will probably tab out at about $80,000 for each year of college!
How can you help? Perhaps your kids qualify for financial aid. This could come
as a scholarship or a loan. Also, don’t forget that many students work through
college. There are numerous programs set up to do just that, and many more
small businesses who depend on hard-working college kids to keep overheads
low and hours long.
Learning to work in the service industry is a valuable experience for most

2. people. Even if your child balks at the idea, he or she will learn patience, kindness, and people
skills, not to mention all sorts of on-the-job training.
Don’t want your kids to graduate in debt? Many states of f er 529 plans. Contributions are
funnelled into selected mutual funds. They’re tax-free, and withdrawals for tuition costs are also
tax-free. It’s a college fund that works for you. Win-win.
Another option is the Coverdell Education Savings Account. You put a yearly $2,000 into a
designated bank account or investment. Earnings will be tax-free so long as it is put towards
tuition when its ultimately withdrawn. Also very handy.
If the figures for projected tuition costs startled you, good news. Put $2,000 a year into a
Coverdell account beginning this year. In 18 years, you’ll have more than enough to cover that first
year of college… to the tune of $80,000.
Better teach your kids to be appreciative while you’re at it.
Ret irement Funds!
Supposedly retirees need only 70% of their pre-retirement income in order to continue their
accustomed lifestyle. After all, you no longer need to
commute, or purchase work clothes. But your utilities will
probably rise, as you are home all day, and you’ll also be
able to spend more on hobbies, travel… and health care!
Many retirees find they need at least 100% of their former
income. Which presents a problem?
Pensions usually only pay a tiny fraction of your former
salary. You can’t expect Social Security to make up the
difference, especially if you are young. Social Security
benefits are likely to be revised in the near future, and
employers can always change their pension-plan designs. Although an employer can never change
a pension-plan retroactively, they can change the plans going forwards. So can Congress. At any
time.
We’ve all learned how volatile stocks can be. If you have a retirement portfolio, make sure it allows
for sharp, sudden downturns.
In fact, for security, you really should have as diverse a retirement plan as possible. Contribute to
many different plans. Like a 401(k) and an IRA, for example. Stocks, bonds or mutual funds can
return more than bank accounts, sometimes even allowing you to finance other goals.
I hope these suggestions will help benefit you as much as they’ve benefited me. If you have any
additional tips, feel free to shout out in the comments below. It’s always inspiring to hear from
others interested in taking action towards their dreams.
Be well everyone, and t hank you f or reading.
Join my team, and then go fire your current boss!
See you on the inside… JOIN NOW!
Andy Potts

3. 239-823-3508
About The Author: Andy Potts
I'm a man who passionately loves life and his family. I love to work smart, play golf,
hang with friends and with my dog Tony, eat out at restaurants with really good food,
ski in Colorado, and help other people love become successful in life. I work from
home, and I coach people on how t o become f inancially f ree and live t he lif e t hey have
always desired. I am a t eam player t hat is ALL IN! I look f orward t o hearing f rom you and
helping you in any way t hat I can. Bye f or now!