Close Your Wealth Gap Financial Lessons to Upgrade Your Life

by Luna, Rob

• ISBN13: 9781394195602
• ISBN10: 1394195605
• Edition: 1st
• Format: Hardcover
• Copyright: 2023-10-03
• Publisher: Wiley

Summary

Simple and accessible strategies to build personal wealth and improve your life

In Close Your Wealth Gap: Financial Lessons to Upgrade Your Life, veteran wealth manager Rob Luna delivers a collection of actionable lessons you can implement immediately to ensure you make the most of the money you make and retire comfortably. You’ll learn everything you need to know about generating personal wealth, from how to understand balance sheets and cash flow statements to constructing a personal portfolio that effectively balances risk and potential reward.

The author explains the basics of maximizing your income with side hustles and passive income while, at the same time, increasing the impact of every dollar you earn. You’ll also find:

• Action plans for every stage of your life, including ways to prepare your children for a lifetime of financial independence and security
• Explanations of the difference between qualified and non-qualified accounts
• Strategies for avoiding “bad debt” while intelligently incurring—when necessary—good debt

Perfect for young professionals, people with new families, and anyone else with a desire to live well and retire rich, Close Your Wealth Gap is an indispensable recipe for financial security that belongs on the bookshelves of people everywhere.

Author Biography

ROB LUNA, MBA, has 25 years’ experience as a wealth manager for ultra-high-net-worth people. He is the founder of the Rob Luna Wealth Academy and Real Talk Capital, both of which offer cheap and accessible financial education and guidance. He served as a Fellow at Wharton for three years.

Table of Contents

Introduction 3

Part 1: All About the Wealth Gap and Your Relationship to Money 7

Chapter 1: The Wealth Gap 7

Chapter 2: What Is Your Relationship with Money? 16

Part 2: Financial Boot Camp 19

Chapter 3: Starting Today 19

Chapter 4: Managing Your Financial Life in a Dashboard 26

Chapter 5: Improving Your Financial Dashboard 35

Chapter 6: Building Your Financial Roadmap 52

Part 3: How to Match Your Investments to Your Needs 60

Chapter 7: Managing Your Financial Buckets 60

Chapter 8: Minimizing Taxes 82

Chapter 9: Buying or Avoiding Life Insurance and Annuities 93

Chapter 10: Developing a Wealth-Maximizing Mindset 102

Part 4: A Financial Case Study 113

Chapter 11: Building Your Own Action Plan 113

Chapter 12: Start Young: What to Do Ages 0–18 118

Chapter 13: Welcome to Adulthood: What to Do Ages 18–24 120

Chapter 14: The Ramp-Up Years: What to Do Ages 24–30 125

Chapter 15: Learn and Earn: What to Do Ages 30–40 132

Chapter 16: Full-Speed Ahead: What to Do Ages 40–50 145

Chapter 17: Catch Up and Assess: What to Do Ages 50–60 159

Chapter 18: The “Work Optional” Years: What to Do Ages 60+ 173

Chapter 19: Case Study Executive Summary 183

Conclusion 188

Resources 190

Glossary of Financial Terms 194

About the Author 199