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Financial Mastery for the Career Teacher

By: Gene Siciliano, C.M.C., C.P.A.

The money management book that no educator can afford to be without!

Written by financial advisor and award-winning speaker Gene Siciliano, this comprehensive yet concise primer is ideal for educators balancing modest salaries with skyrocketing expenses in challenging economic times. The author covers the personal finance questions and concerns that all educators face, including:

Providing for a family on a teacher's salary
Making every dollar stretch
Buying a home
Managing debt
Planning for retirement
Understanding and purchasing insurance
Investing in the stock market or real estate
Taxes and tax planning

Full description

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Product Details

Grade Level: K-12
ISBN: 9781412975001
Published By: Corwin
Year: 2010
Page Count: 192
Publication date: April 26, 2010

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This book is not available as a review copy.

Description

"This book should be given to every new teacher as soon as they sign their teaching contract."
—Cathy D. Hicks, Induction Program Director
San Dieguito Union High School District, Encinitas, CA

"Siciliano's gem of a book is crammed with sage financial advice. He reminds us that we need to approach financial planning the way we approach teaching: clear-eyed, armed with facts, and with our eyes on the prize."
—Janet Carroll, District Principal of Human Resources
Chilliwack School District and CSD Mentor Program, BC, Canada

The money management book that no educator can afford to be without!

Teaching has many rewards, including the opportunity to change young people's lives and make a meaningful difference in a community every day. However, despite the important work they do, teachers often find themselves struggling to survive on a teaching salary.

Written by certified financial advisor and award-winning speaker Gene Siciliano, Financial Mastery for the Career Teacher is a comprehensive yet concise primer for educators balancing modest salaries with skyrocketing expenses in challenging economic times. The author covers the personal finance questions and concerns that all educators face, including:

Providing for a family on a teacher's salary
Making every dollar stretch
Buying a home
Managing debt
Planning for retirement
Understanding and purchasing insurance
Investing in the stock market or real estate
Taxes and tax planning

Start planning your financial future now so you can have a fulfilling career as a teacher and still come out ahead!

Key features

Answers to a wide range of financial questions from educators
Step-by-step guidance in complicated financial areas, such as choosing a suitable investment strategy, purcharsing a home or car, and more
General descriptions of the ins and outs of investments such as buying securities
Resources for personal research via the Internet and books
Charts, graphs, and tables that illustrate the book's key points
A "take-away" message and brief summary within each chapter

Author(s)

Gene Siciliano, C.M.C., C.P.A.

Gene Siciliano, CMC, CPA, is a financial management consultant. His business is helping companies to manage their businesses more profitably. His tools of the trade include management advisory services, business planning and modeling, financial department effectiveness audits, board service, management coaching, and a series of training and workshop programs, largely focused on finance and accounting for predominantly nonfinancial clients.

A longtime member of the National Speakers Association and an avid communicator, Mr. Siciliano speaks to corporate and association audiences nationwide on financial and management topics. His articles on financial management, business planning and cost control have been published internationally. He also publishes both print and electronic newsletters on financial management topics, as well as a blog.

Following graduation from Penn State University’s Smeal College with a business degree in accounting, Mr. Siciliano spent several years on active duty as a Naval Reserve officer. He carries the permanent rank of Commander, U.S. Navy – Retired. Returning to civilian life, he joined Alexander Grant & Company (now Grant Thornton), a large public accounting firm. Following nearly eight years as a practicing CPA he entered the corporate world, eventually holding senior financial management positions with Computer Sciences Corporation, Epson America, and several smaller companies. In 1986 he founded Western Management Associates, the consulting business that he owns and operates today. In his practice he often serves as the part-time chief financial officer for client companies, and from that grew the trademark of his business, “Your CFO for Rent.^®”

When not in the office, Mr. Siciliano has served a number of nonprofit organizations – both professional and charitable – as president, board member and treasurer, and he is most often drawn to organizations that help children. In addition to occasional gourmet cooking he enjoys tennis and the theatre in his spare time, both available in abundance near his home in Redondo Beach, California. He can be reached at 310-645-1091 or gene@CFOforRent.com, or by visiting his websites at www.CFOforRent.com or www.GeneSiciliano.com.

Table of Contents

Acknowledgments

About the Author

1. Why This Book Was Written and Why You Should Read It

2. Your Personal Business Plan: The Master Road Map

Setting Goals

Creating Your Family Budget

3. Managing Your Paycheck: The Source

Setting Up Your Payroll Deductions

Spending Less Than You Earn: Ideas for Stretching Your Dollars!

What to Do With That Annual Bonus

4. Family Finances: Taking Care of the Family's Wish List

College Financial Planning

Life Insurance for the Kids?

Vacation Financing

5. Managing Debt: When You Have Too Much of a Good Thing

Debt Can Stress Your Marriage to the Breaking Point

Credit Cards: Huge Differences Exist Just Beneath the Surface

Getting Help Before It's Too Late: Debt Counseling Services

6. Insurance: Just in Case

Life Insurance

Health Insurance: Staying Healthy

Disability Insurance: In Case Something Breaks

Long-Term Care Insurance: For the Later Years

7. Savings Accounts for Your Cash

The Value of Saving Early: The Power of Compound Interest

How Much Cash Can You Save?

The Rainy-Day Fund

Savings Accounts

Money Market Funds

Certificates of Deposit

8. Buying a Home: Realizing the American Dream

How Much Home Can You Afford?

First Mortgage, Second Mortgage, Equity Credit Lines: The Language of Real Estate Finance

Balloon Payments: A Funny Name for a Not-So-Funny Event

The Home Equity Line of Credit

Structuring Your Payments: Taxes, Insurance, and Impounds

Refinancing for Cash-Out, for Lower Rates, for Better Terms

Teaser Rates, Interest Only, Negative Amortization, and Other Financial Land Mines

Final Thoughts on Home Ownership

9. The Stock Market: All About Bulls and Bears

Risk Tolerance: Where You Are in Your Life and How Securities Fit Into It

How Much Pain Will You Accept Along the Way?

Investing Strategies Overview

Types of Companies You Might Choose to Invest In

10. Other Ways to Own Companies (Besides Starting Your Own)

Other Equity Choices

Bonds: The Safety of Fixed Income

Buy, Sell, or Hold? How to Decide When and How Much

Your Personal Investment Policy

11. Buying Investment Real Estate

Your Home Comes First

So Many Choices, So Little Time

The Nature of the Investment and the Returns You Might Expect

The Power of Leverage

Shared Investment Methods

Your Tax Dollars at Work

If You Want to Know More

12. Taxes and Tax Planning: Keeping All You Legally Can

Income Taxes: Federal, State, Local

Tax Planning Strategies

Property Tax: Real and Personal

Filing Tax Returns: Don't Do It Yourself!

Getting Help: A CPA or Tax Preparer

Tips for Avoiding an IRS Audit

13. Technology That Can Help You

Personal Bookkeeping Software

Online Banking

Protecting Yourself From Identity Theft

14. Retirement Planning: So You Can Live Well for 100 Years

A Checklist for Those in Midcareer

Assessing Your Postretirement Needs

The Home Mortgage Monkey

When to Sign Up for Social Security

Getting Help: The Financial Planner

15. Wills and Trusts

Your Will: Your Last Opportunity to Have It Your Way

Trusts: Making Decisions Now That Provide Long-Term Benefits

16. Final Thoughts

Index

Reviews

"I wish I’d had this book when I began my teaching career many years ago. It is written in a practical, easy-to-understand format with multiple examples and recommendations. This book should be given to every new teacher as soon as they sign their teaching contract. While it is written specifically for teachers, I think everyone could benefit from the author’s knowledge."

Cathy D. Hicks, Induction Program Director
San Dieguito Union High School District, Encinitas, CA

"Siciliano’s gem of a book is crammed with sage financial advice on topics as far-ranging as budgets and financial goal setting, estate planning, and tips on playing the stock market. Siciliano really knows his stuff, and he writes with such calm, good-natured authority on the full range of financial topics, in a style that is so relaxed and easy going, that you can’t help but feel that you are getting top-notch financial advice from a favorite uncle. He reminds us that we need to approach financial planning the way we approach teaching: clear-eyed, armed with facts, and with our eyes on the prize."

Janet Carroll, District Principal of Human Resources
Chilliwack School District and CSD Mentor Program, BC, Canada

Other Titles in: Finance/Funding/Grantwriting | Teaching Methods & Learning Styles

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