7. Debt.

You should never carry a balance on a credit card when you are over 30 years old. You should have no debt (other than the mortgage on your house) by the time you are 40 years old. You should have no debt (owe nothing on your mortgage, no car payments) when you are 50 years old.

Related Point - - Cost of Sending Kids to College - It may not be realistic to pay for college and be debt-free by the time you are 50. So if you have big college costs in your late 40's or 50's you should try to be free of all debt by the age of 60. But, the most important thing about paying for college is selecting the college for your children. You can't let your kids decide where they want to go. If you let the kids decide, you may compromise your financial security for your retirement. The parents must select the school they can afford. This is a huge financial decision. Also, attending a community college the first two years of college and a state university for the junior and senior years results in huge savings for the cost of a good college education.

8. Save, save, save.

Save a lot of money in your 30's and 40's. Invest your savings in low-cost stock index mutual funds (about 50 to 60 percent) and in US Government bonds / agency bonds or high quality tax-exempt bonds (40 to 50 percent). At about age 50, shift about 80 percent of your savings into safe, income producing bonds (US Treasuries, US agency bonds (ex., GNMA) or AAA / AA rated municipal bonds).

9. Job downshifting / Fun upshifting.

Now you are in your early 50's, you have no debt, you have a large nest egg that generates good interest income, and you have a lot of flexibility. Find that job that you really enjoy - something low-pressure and rewarding. Spend more time with your family and friends. Pick up tennis or swimming. Continue to work at this fun job into your early 60's. Retire if you like and continue to live off the interest generated from your nest egg of income producing bonds.

10. How to Avoid the Complications of Divorce

1. Don't rush any decision. Have a long engagement period (at least one year). Many people have a "dating personality" and a "real personality". You need enough time to get to know the "real personality".

2. Related to the 1st, the real personality is exposed by how someone reacts to something that goes wrong when interacting with a stranger (waiter in a restaurant or driver on the road). If someone is nice to you, but rude to a waiter you will be treated like the waiter after you are married. Also, if someone has a poor long-term relationship with more than one parent or brother or sister, this is a clear warning sign. http://www.gallagher.com/good_life.htm

c) Which tips are can help you to become financial independent? What advice do you want to follow? Express your opinion.

Every Man to His Interest

LEAD – IN

I. Use the prompts to make sentences about yourself:

If I find a well paid job, I	may	get good gob
If I get my university degree, I	might	buy a house
If I become famous, I	could	have children
If I get some time off work, I	will probably	be on TV
If I get married, I	will definitely	go to spend the summer on my yacht

Example: If I find a well paid job, I will probably buy a house.

 II. a) Listen to the dialogue about finding a new job. Match the points of interest to Patti and Jeff.

Interests of job	Patti	Jeff
find a new job (-)
work here (+)
do the same thing every day(-)
get really board (+)
make money (-)
live with parents (+)
be independent (+)
travel (+)
meet new people (+)
apply for the job (+)

b) Make up the sentences using the gerund form (V + ing) after the following phrases:

… is not interested in …

… like …

… is already tied of …

… is afraid of …

… enjoy …

Example: Jeff likes working here.

c) What kind of a job would you choose? Write two or three true sentences.

d) Answer these questions:

1. What do you like doing on weekends?/ on vacation?

2. What do you enjoy doung in spring?/ summer?/ autumn?/ winter?

3. What are you afraid of? Write sentences using gerund: E.g: going to the dentist, losing the job, dying.

e) Write true sentences about yourself starting with: I am interested in … (learning English)/ I am not interested in … (studying history)