The Generational Wealth Code - Christine Vento Conway

Biographie:

Foreword xiii
Preface xvii
Acknowledgments xxi

Introduction: The Generational Wealth Code: A Tax-smart Roadmap to Financial Independence 1
Financial Literacy and Why We Wrote This Book 2
The Move from Capitalism to Socialism in the United States 3
Point X: Our Fundamental Financial Goal 6
The Next Level of Financial Independence: The Generational Wealth Code 7
The 12 Critical Areas of Comprehensive Wealth Management 9
Our Biggest Expense 10
The Power of This Book 14

Chapter 1: Committing to Living Within Your Means 17
The American Dream Becomes the American Nightmare 17
Living Within Your Means: The Essential Step 18
A Simple Savings Plan 22

Chapter 2: Understanding Taxes 27
A Brief History of the US Tax System 28
Organizing and Retaining Your Records 32
Tax-preparation Services 33
Accumulating Wealth Through Tax Planning 35
The One Big Beautiful Bill Act of 2025 37

Chapter 3: Determining Your Financial Position 43
Calculating Your Financial Net Worth 44
Case Study: How One Couple Was Able to Accelerate Their Journey to Financial Independence and Position Themselves to Create Generational Wealth 44
Making Sense of Cash Flow 53
Establishing Your Financial Goals 76
Finding Trusted Advisors 80

Chapter 4: Managing Debt 89
Case Study: How Two Doctors Went Bankrupt in Only a Few Years, What Not to Do 89
Basic Principles for Managing Debt 93
Good Debt Versus Bad Debt 95
Credit Card Debt 97
Auto Loans 103
Student Loans 105
Home Mortgage Loans 105
Business and Investment Loans 112
Understanding Credit 112
Your Credit Report and Your Credit Score 114
Preventing Identity Theft 119
Analyzing Your Debt 121

Chapter 5: Insuring Your Health and Life 127
Choosing a Health Insurance Plan 128
Long-term Care Insurance 144
Disability Insurance 152
Life Insurance 157
Buying Insurance Policies 163

Chapter 6: Protecting Your Property with Insurance 167
Case Study: How a Lack of Insurance Wiped Out One Woman's Life Savings 168
Homeowners Insurance 170
Automobile Insurance 176
Umbrella Liability Insurance 179
Buying Insurance Policies 182

Chapter 7: Paying for College 189
Is College the Best Choice for You and Your Child? 189
The Cost of College and What You Can Expect to Pay 192
Case Study: How Not Saving for Your Child's Education Can Ruin Your and Your Child's Finances 194
Conducting a Needs Analysis for Your Children's College Education 199
Strategies for Saving Money for College 201
Government Grants and Loans 215
Education Tax Breaks and Credits 220

Chapter 8: Planning for Retirement 229
Case Study: Saving Versus Not Saving for Retirement, The $2.2 Million Difference 229
Retirement Equation: Calculating Your Personal Point X, Financial Independence 233
The High Cost of Waiting to Save for Retirement 234
What You Can Expect to Receive from Social Security 237
Qualified Retirement Plans 240
The Difference Between Traditional IRAs and Roth IRAs 243
Trump Accounts: A New Tool for Multigenerational Wealth 250
Fixed and Variable Annuities 251
Retirement Funding: Needs Analysis 254

Chapter 9: Managing Your Investments 265
Analyzing Your Ability and Willingness to Take Risk 266
Stocks, Bonds, Hybrid Securities, Mutual Funds, ETFs, and Private Investments 273
Diversification, Asset Allocation, and Rebalancing 283
Dollar-cost Averaging 292
Inflation and Taxes: The Biggest Drains on Investment Return 293
Medicare Surtax on Net Investment Income 294
Cryptocur...

Sommaire:

Foreword xiii

Preface xvii

Acknowledgments xxi

Introduction: The Generational Wealth Code: A Tax-smart Roadmap to Financial Independence 1

Financial Literacy and Why We Wrote This Book 2

The Move from Capitalism to Socialism in the United States 3

Point X: Our Fundamental Financial Goal 6

The Next Level of Financial Independence: The Generational Wealth Code 7

The 12 Critical Areas of Comprehensive Wealth Management 9

Our Biggest Expense 10

The Power of This Book 14

Chapter 1: Committing to Living Within Your Means 17

The American Dream Becomes the American Nightmare 17

Living Within Your Means: The Essential Step 18

A Simple Savings Plan 22

Chapter 2: Understanding Taxes 27

A Brief History of the US Tax System 28

Organizing and Retaining Your Records 32

Tax-preparation Services 33

Accumulating Wealth Through Tax Planning 35

The One Big Beautiful Bill Act of 2025 37

Chapter 3: Determining Your Financial Position 43

Calculating Your Financial Net Worth 44

Case Study: How One Couple Was Able to Accelerate Their Journey to Financial Independence and Position Themselves to Create Generational Wealth 44

Making Sense of Cash Flow 53

Establishing Your Financial Goals 76

Finding Trusted Advisors 80

Chapter 4: Managing Debt 89

Case Study: How Two Doctors Went Bankrupt in Only a Few Years, What Not to Do 89

Basic Principles for Managing Debt 93

Good Debt Versus Bad Debt 95

Credit Card Debt 97

Auto Loans 103

Student Loans 105

Home Mortgage Loans 105

Business and Investment Loans 112

Understanding Credit 112

Your Credit Report and Your Credit Score 114

Preventing Identity Theft 119

Analyzing Your Debt 121

Chapter 5: Insuring Your Health and Life 127

Choosing a Health Insurance Plan 128

Long-term Care Insurance 144

Disability Insurance 152

Life Insurance 157

Buying Insurance Policies 163

Chapter 6: Protecting Your Property with Insurance 167

Case Study: How a Lack of Insurance Wiped Out One Woman's Life Savings 168

Homeowners Insurance 170

Automobile Insurance 176

Umbrella Liability Insurance 179

Buying Insurance Policies 182

Chapter 7: Paying for College 189

Is College the Best Choice for You and Your Child? 189

The Cost of College and What You Can Expect to Pay 192

Case Study: How Not Saving for Your Child's Education Can Ruin Your and Your Child's Finances 194

Conducting a Needs Analysis for Your Children's College Education 199

Strategies for Saving Money for College 201

Government Grants and Loans 215

Education Tax Breaks and Credits 220

Chapter 8: Planning for Retirement 229

Case Study: Saving Versus Not Saving for Retirement, The $2.2 Million Difference 229

Retirement Equation: Calculating Your Personal Point X, Financial Independence 233

The High Cost of Waiting to Save for Retirement 234

What You Can Expect to Receive from Social Security 237

Qualified Retirement Plans 240

The Difference Between Traditional IRAs and Roth IRAs 243

Trump Accounts: A New Tool for Multigenerational Wealth 250

Fixed and Variable Annuities 251

Retirement Funding: Needs Analysis 254

Chapter 9: Managing Your Investments 265

Analyzing Your Ability and Willingness to Take Risk 266

Stocks, Bonds, Hybrid Securities, Mutual Funds, ETFs, and Private Investments 273

Diversification, Asset Allo...