It’s a new year and there are a number of updates you’ll want to know about in the Dreams of Wealth series of books. Every year the IRS adjusts many of the financial planning thresholds that are referenced through the books. You can find these updates in 2022: What’s New and What’s Next on both www.dreamsofwealth.com and www.stevensvisionary.com.
For those of you who have purchased the series of books, or are thinking about purchasing other books in the series, I’m sharing my top three takeaways for each book as well as an Index for topics across all the content in the Dreams of Wealth series.
The overall goal of Dreams of Wealth is to help readers envision a better life through financial planning. These books challenge you to think about “the why.” What does wealth mean to you? Then we help you see how to use various diagnostics, templates and educational materials to create actionable goals that produce results.
Put Your Money Where Your Heart Is: Aligning Money and Meaning
If you want to start with a holistic approach to money management, then Put Your Money Where Your Heart Is can be a good place to begin. The theme of “aligning money and meaning” helps readers think about their values and how those relate to building a solid financial life to support those dreams.
The concept of a MindMap is introduced to help envision all aspects of your financial life on one sheet of paper. It starts with your intentions and continues that as you create your Investment Policy Statement to clarify your investment objectives. Aligning money and meaning applies to your own life, but also how you give to others. You’ll find a guided conversation to help you think about giving as well as a template to capture how you want to structure your giving.
Financial Planning Diagnostics: Diagnostics before Diagnosis
Appropriate for both financial advisors and individual investors, this book is loaded with checklists to help you think through specific topics in financial planning. It starts with three basic diagnostics: the MindMap, the Net Worth Statement and Tax Analysis. These diagnostics give you a much clearer picture of your current financial situation and what you need to do to envision your future.
You’ll find content to help you analyze your Net Worth Statement. I rarely see that in other planning books. You’ll also gain clarity in what you need to understand by analyzing your tax return. Strategic tax planning is critical especially as your wealth grows over time.
Over 25 checklists help you think about specific planning issues like a personal financial self-assessment, budgeting, divorce, terminal illness, job loss, natural disasters, aging parents, retirement preparation, philanthropy, estate and end-of-life planning.
Financial Planning Literacy: Knowledge through Empowerment
The most comprehensive of the books in the series, this book covers most financial planning topics from savings concepts through detailed retirement concepts. If you are just starting the financial journey, you’ll find chapters devoted to savings ideas, and broad-based tips on setting up a secure financial future.
Investment concepts are explored in more detail in Financial Planning Literacy. You’ll learn more about basic cash topics as well as how to think about investing in both bonds and stocks. It’s all about balancing risk and reward. We’ll show you some tools you may want to investigate as you build your wealth.
The Financial Independence section is so comprehensive in its content around “retirement” that we also created a standalone version (we also did that for the topic of philanthropy). How do you want to balance time and money—now and in the future? What drives your purpose and how can you put a plan in place to support that? We revisit the diagnostics of the MindMap, Net Worth Statement and Tax Analysis as you evolve throughout life.
You’ll also find chapters on executive financial planning including stock compensation, how to adjust as life throws you the inevitable curveballs and more detailed tax concepts than you’ll find in the other series books.
As mentioned in the introduction, all financial thresholds that have changed in 2022 are listed in the article 2022: What’s New and What’s Next on both www.dreamsofwealth.com and www.stevensvisionary.com.
The Financial Bridge: How to Leave Your Legacy
The last book in the series focuses more on estate planning, philanthropy and end-of-life planning. Our goal was to give you what you need depending on where you are in life. You’ll find more detail on how to set up your estate and how to use that to reflect your intentions.
We’ll dig deeper into philanthropy by reviewing many different types of charitable vehicles. You’ll find a chart that compares different ways of giving depending on your objectives. Finally we’ll take time to think about what needs to happen as you (or a parent) approaches the end of life. What living accommodations will you need, what health concerns need attention, and how do your values and memories play into creating a meaningful transition.
Each book was designed to stand alone and that’s why you’ll find some content in more than one book in the series. But all the books can be taken together to address different aspects of planning in various phases in life. To help you find what you’re looking for, we’ve developed an Index of significant topics across the books.
|Aging Parents||Bridge||Ch 5||p. 110|
|Aging Parents||Diagnostics||Part 2||p. 100|
|Annual Financial Review||Diagnostics||Part 2||p. 73|
|Annuities||Literacy||Ch 7||p. 204|
|Budgeting||Diagnostics||Part 2||p. 63|
|Cash, Bonds and Stocks: Education and Resources||Literacy||Ch 5||p. 106|
|CCRCs (Continuing Care Retirement Communities)||Bridge||Ch 5||p. 90|
|Charitable Vehicle Chart||Bridge||Ch 4||p. 59|
|Charitable Vehicle Chart||Philanthropy Booklet|
|College Savings Plans||Diagnostics||Part 2||p. 86|
|College Savings Plans||Literacy||Ch 2||p. 44|
|Divorce Checklist||Diagnostics||Part 2||p. 88|
|End of Life Planning||Bridge||Ch 6||p. 118|
|End of Life Planning||Diagnostics||Part 2||p. 133|
|Estate Inventory||Literacy||p. 276|
|Estate Inventory||Bridge||p. 148|
|Estate Inventory||Diagnostics||Part 2||p. 132|
|Estate Planning Basics||Bridge||Ch 3||p. 20|
|Estate Planning Basics||Literacy||Ch 3||p. 52|
|Estate Planning Basics||PYM||Ch 7||p. 162|
|Estate Planning Checklist||Diagnostics||Part 2||p. 128|
|Estate Planning for Pets||Bridge||Ch 3||p. 30|
|Estate Planning for Pets||Diagnostics||Part 2||p. 147|
|Estate Planning Updates||Bridge||Ch 3||p. 36|
|Estate Planning: How Much is Enough||PYM||Ch 6||p. 146|
|Estate Planning: How Much is Enough||Bridge||Ch 5||p. 99|
|Estate Review, Organization and Planning Template||Bridge||Ch 2||p. 14|
|Executive Planning||Literacy||Ch 4||p. 82|
|Family Meetings||Bridge||Ch 5||p. 106|
|Family Meetings||Diagnostics||Part 2||p. 131|
|Financial Independence (Retirement)||Literacy||Ch 7||p. 168|
|Financial Independence (Retirement)||Booklet|
|Five Years to Retirement Checklist||Diagnostics||Part 2||p. 119|
|Gift and Estate Tax||Bridge||Ch 3||p. 40|
|Giving Tree||Bridge||Ch 4||p. 50|
|Giving Tree||Diagnostics||Part 2||p. 108|
|Giving Tree||Philanthropy Booklet|
|Goals by Age||Diagnostics||Part 1||p. 17|
|Goals by Age||PYM||Ch 3||p. 52|
|Goals/Mind Maps||Diagnostics||Part 1||p. 8|
|Goals/Mind Maps||PYM||Ch 3||p. 36|
|Guided Conversation about Giving||Bridge||Ch 4||p. 48|
|Guided Conversation about Giving||Diagnostics||Part 2||p. 106|
|Guided Conversation about Giving||Philanthropy Booklet|
|Healthcare Considerations in Retirement||Bridge||Ch 5||p. 72|
|Healthcare Considerations in Retirement||Literacy||Ch 7||p. 238|
|Holistic Planning||PYM||Ch 1||p. 8|
|Holistic Planning||PYM||Afterward||p. 196|
|Investment Policy||Diagnostics||Part 2||p. 54|
|Investment Policy||Literacy||Ch 5||p. 139|
|Investment Policy||PYM||Ch 4||p. 88|
|IRAs||Literacy||Ch 7||p. 214|
|IRAs||PYM||Ch 5||p. 119|
|Job Loss||Diagnostics||Part 2||p. 91|
|Long-Term Care Insurance||Bridge||Ch 5||p. 92|
|Lump Sum Vs Annuity: Retirement Plans||Diagnostics||Part 2||p. 123|
|Major Life Change Checklist||Literacy||Ch 7||p. 184|
|Medicare||Bridge||Ch 5||p. 77|
|Mind Map Diagnostic Questions||Diagnostics||Part 1||p. 16|
|Natural Disaster Planning||Diagnostics||Part 2||p. 97|
|Net Worth Statement Diagnostic Questions||Diagnostics||Part 1||p. 30|
|Net Worth Statement||Diagnostics||Part 1||p. 22|
|Organizing Records||Diagnostics||Part 2||p. 40|
|Organizing Records||PYM||Ch 2||p. 24|
|Overall Personal Finance Self Assessment||Diagnostics||Part 2||p. 49|
|Pensions||Literacy||Ch 7||p. 202|
|Personal Finance Self Assessment||Diagnostics||Part 2||p. 49|
|Philanthropy||Bridge||Ch 4||p. 46|
|Philanthropy||Diagnostics||Part 2||p. 106|
|Philanthropy Worksheet||Bridge||Ch 4||p. 56|
|Philanthropy Worksheet||Diagnostics||Part 2||p. 112|
|Philanthropy Worksheet||Philanthropy Booklet|
|Portfolio Diagnostic||PYM||Ch 4||p. 91|
|Portfolio Goals||PYM||Ch 4||p. 74|
|Reinventing Your Life 2.0||Diagnostics||Part 2||p. 126|
|Retirement Plan Contributions and Withdrawals||PYM||Ch 5||p. 119|
|Retirement Plan Contributions and Withdrawals||Literacy||Ch 2 & 7|
|Retirement Countdown by Age||Literacy||Ch 7||p. 256|
|Retirement Sequence of Withdrawals||Literacy||Ch 7||p. 234|
|Retirement Spending Strategies||Literacy||Ch 7||p. 224|
|Reverse Mortgages||Bridge||Ch 5||p. 86|
|Reviewing Your Estate||Bridge||Ch 2||p. 14|
|Setbacks and Strategies||Literacy||Ch 6||p. 152|
|Social Security||Literacy||Ch 7||p. 198|
|Stock Options||Literacy||Ch 4||p. 85|
|Survivor’s Checklist||Bridge||Ch 7||p. 128|
|Survivor’s Checklist||Diagnostics||Part 2||p. 140|
|Survivor’s Checklist||Literacy||p. 283|
|Tax Analysis||Diagnostics||Part 1||p. 30|
|Tax Analysis Diagnostic Questions||Diagnostics||Part 1||p. 35|
|Tax Literacy||Literacy||Ch 3||p. 60|
|Tax Rates||Diagnostics||Part 2||p. 84|
|Terminal Illness Checklist||Diagnostics||Part 2||p. 115|
|Trusts in Estates||Bridge||Ch 3||p. 26|
|When to Retire||Literacy||Ch 7||p. 168|
|When to Retire||PYM||Ch 5||p. 107|
|Year-End Planning Review||Diagnostics||Part 2||p. 80|
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