Virtuous Cycle Economics: The Soldier’S Guidebook

By Xlibris US

This book is intended to be an easily read and understood guideline that is intended on giving the reader a brief overview of our economy. This covers past and present situations, occurrences, and fundamentals of our capitalistic society and is intended to reveal flaws, fixes, and methods of coping with the status quo.

The book also contains a breakdown of how the current credit system became what it is today, its benefits, its shortcomings, and how to cope and begin to take advantage of strategies that can be beneficial to the middle-class citizen. It also covers the importance of having good credit and why the credit bureaus have little to no incentive to keep an accurate record of your FICO score. It also explains how we are viewed in the eyes of our creditors in terms of our risk tolerance levels and steps that can be taken to correct and monitor your credit score with no out of pocket cost to the consumer.

Also included are tips on how to live above the means of ones salary through the year by averaging ones tax returns over a period of time prescribed in the book. This is intended to allow the reader to accurately predict a rate of tax return (assuming the conditions are as set forth in the book) and allow for a monthly additional budget utilizing a credit card. This utilization of the card will account for the interest that will be accrued and first subtracted from the tax return amount. That amount will then be divided by twelve to give the resulting sum of the monthly additional spending allowed above ones monthly salary.

An attempt has also been made to explain the interconnectivity of ones security clearance and perceived level of risk when an individual is carrying a large amount of debt. It illustrates how ones security clearance may be taken away due to issues with debt and provides advice on steps that may be taken to stop or delay this process through bankruptcy.

The book explains what to expect after filing bankruptcy and gives a strategy or method of what to do while going through the process and emerging more financially stable. A plan of action for constructing a functional budget is explained and illustrated, and a guide for investing the newly available capital is outlined for the beginner-level investor.

An attempt to close the cycle is done by explaining what to do with newfound wealth if you are successful in your endeavors in the form of wealth management and tax advice.

• Language: English
• Publisher: Xlibris US
• Release date: Aug 6, 2014
• ISBN: 9781499058079

Book preview

Copyright © 2014 by Kory T. Morris.

Library of Congress Control Number:   2014913925

ISBN:   Hardcover     978-1-4990-5805-5

             Softcover       978-1-4990-5806-2

             eBook            978-1-4990-5807-9

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the copyright owner.

Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.

Certain stock imagery © Thinkstock.

Rev. date: 08/01/2014

Xlibris LLC

1-888-795-4274

www.Xlibris.com

662022

CONTENTS

✓   Acknowledgments

✓   Synopsis

✓   The Economy Past and Present

✓   Credit (The Good, the Bad, and the Ugly)

✓   The Bad

✓   The Ugly

✓   How to Live in Excess and Afford It

✓   Your Security Clearance and Your Finances

✓   Cash Only?

✓   Budgeting

✓   Investing for Beginners

✓   Wealth Management

✓   About the Author

Acknowledgments

I am most grateful to God, who has shown me favor and has changed my life for the better. He has set me on the right path and has been guiding my hand with every stroke of my keyboard.

Thanks to Heather Morris, my wife of seven years who has been patient with me throughout our relationship’s ups and downs. I am very happy that she is here now to enjoy the fruits of our labor.

Thanks to my brother, Freddie Greg Morris, who has been instrumental in making this endeavor a success, and who has always encouraged me even when my goals seem too lofty to achieve.

I would also like to thank my high-school soccer coach, Tom Blauvelt, for believing in me and demonstrating to me while still in my youth that there were still good people that did good deeds for the sake of being good.

Thanks to my aunt and uncle, Jennief and Godfrey Watson, who made it possible for us to migrate to the United States from Jamaica and altered the course of our lives forever.

Thank you to my father, Frederick Morris, who has been an inspiration to me since childhood, and who has demonstrated through his deeds and his love that anything is possible if you put your heart and soul into something you believe in.

Thank you to my mother, Lorna Morris, who gave me the tools necessary to be where I am today, and who loved me in spite of my faults and failures as a son. She is a beacon of kindness and compassion and puts the needs of others above her own.

Synopsis

This book is intended to be an easily read and understood guideline that is intended on giving the reader a brief overview of our economy. This covers past and present situations, occurrences, and fundamentals of our capitalistic society and is intended to reveal flaws, fixes, and methods of coping with the status quo.

The book also contains a breakdown of how the current credit system became what it is today, its benefits, its shortcomings, and how to cope and begin to take advantage of strategies that can be beneficial to the middle-class citizen. It also covers the importance of having good credit and why the credit bureaus have little to no incentive to keep an accurate record of your FICO score. It also explains how we are viewed in the eyes of our creditors in terms of our risk tolerance levels and steps that can be taken to correct and monitor your credit score with no out of pocket cost to the