When it comes to the best ways to use money, too many Americans operate under a key misconception, says investment adviser and financial planner Ike Ikokwu.

“Money is opportunity, and having a blind spot for maximizing investment can drastically reduce oneâ€s future options,” says Ikokwu, author of Winning the Money Game: Separating the Myths from the Truth (www.winningthemoneygame.net).

That blind spot is debt, he says. Just as Americans have learned that are such things as good fats and good cholesterol, so too is there good debt for a prosperous financial future.

“The three most common ways people in this country get rich all involve using debt,” he says. “They use it to launch businesses, invest in real estate, or pay for advanced degrees in order to become high-income earners.”

Some myths born from the idea that all debt is bad include:• Paying off your home mortgage provides financial security. • A 15-year mortgage is always the quickest way to pay off your home. • Putting money in your 401K or other qualified plan saves you taxes. • The stock market is the only place to generate high, double-digit returns.

Admonishments to “stay out of debt” prevent people from gaining financial independence, Ikokwu says. Investing in education, a new career in another state or a new business may be more lucrative than paying down a mortgage.

“My definition of being ‘debt-free†is to have enough money so that you can pay off your debt at any time – if you need to,â€â€ he says. “But you donâ€t necessarily want to do that. Good debt can save you money on taxes, increase your investment gains and allow you to take advantage of wealth-building opportunities. Bad debt, on the other hand, is like having a big hole in your money bucket.”

Ikokwu developed a new personal financial plan after a period of successful investing imploded following the market crash in 2001. After filing for bankruptcy in 2003, he rebuilt his wealth – using his new plan – in five years. Today he is financially independent and his wealth secure.

“To a greater extent than many Americans suppose, money is plastic,” he says. “That means you do not have to be rich in order to gain more wealth, and we do not have to follow old, outdated paths. We can all mold the money we have to a shape that yields better return.”

About Ike Ikokwu

Ike Ikokwu, “The Financial Independence Coach,” is a CPA, CFP and registered investment adviser. He holds a bachelorâ€s in accounting and a masterâ€s in personal financial planning. Ikokwu is president and CEO of Winning the Money Game with Ike, a tax and financial advisory firm in Cumming, Ga. While working for “Big 6” tax firms and buying real estate, Ikokwu funneled his profits into domestic and international investments, only to realize too late that they were Ponzi schemes. Forced to declare personal bankruptcy in 2003, he rebuilt his wealth by changing his approach to finances. Tune into Atlantaâ€s WGUN-1010 (AM) at 11 a.m. Saturdays for his weekly show.

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Way to Wealth Book

 
Jack Vincent is a loving father of four who married at 17 and quickly learned responsibility. He read Way to Wealth, and its message transformed him. His lifelong application of its principles has made him a multiple award-winning successful business, real estate, and insurance entrepreneur for a quarter of a century. He is now passing the keys to success to readers. Young people and adults ready to change their lives can benefit from this bookâ€s transformative message of hope.

Each copy purchased provides the reader opportunities to directly ask Jack Vincent questions online; he handles his own email. His goal is to get a million copies of this life-changing book to the public. Just because Vincent rewrote a book about financial prosperity does not mean he is selfish; on the contrary, he has offered to donate copies to religious organizations, libraries, schools, and individuals unable to afford it. Those in need can click on “Request for Donation” on his website for more information.

Jack Vincent is living proof the wisdom in this book changes lives and leads to financial success. Fans can find and follow Jack Vincent on Facebook by his name and on Twitter as “AskBenFranklin.” The book is available through Amazon, Barnes and Noble, or upon request from local bookstores. Readers can even buy a limited number of signed copies for $12.95 and find other interesting information at Jack Vincentâ€s website at: www.TheWayToWealthBook.com.

*The River View Observer and its parent company Ad Vantage Publishing Inc. does not  make any claim of financial prosperity after reading this book.

This is soley the opinion of its author. This post about the book is purely for entertainment reasons, and your information about such books being in the market place.

The post Reading- Benjamin Franklin’s comeback – founding father gives financial advice first appeared on River View Observer.