Author Description

A troubled economy calls for answers. Forget complicated, abstract philosophy-people need sound financial advice that's easy to follow and can be implemented immediately. For the first time, a leading financial adviser has developed a remarkable set of guidelines to give individuals the same kind of objective insight into their personal finances that successful businesses have. Your Money Rations will help readers effectively manage debt, invest prudently, and develop a realistic and effective savings plan to ensure both financial success and security. Readers need only plug their income and age into Farrell's rations in order to get an instant picture of their savings status and overall financial health, as well as a roadmap for the important choices they must make in the future. Some key rations include:The Capital-to-Income Ratio: how much capital (savings) you should have if you plan to retire at 65The Mortgage-to-Income Ratio: The maximum mortgage debt you should carry and still have sufficient capital left to save and retire comfortablyThe Education-to-Average-Income Ratio: The amount of education-related debt you can safely incur based on anticipated average earnings after obtaining your degree