The Debt-Free Millionaire: Winning Strategies to Creating Great Credit and Retiring Rich

306 Pages·2009·2.79 MB·English

by  Anthony Manganiello

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Additional Praise for
The Debt-FREE Millionaire
“Anthony Manganiello tells it like it is! His book will guide you
through practical insights that touch home with just about everyone.
Follow his direction on taking charge of your fi nancial life and you
will become debt free and secure in your golden years.”
— Tony Pickett
Consumers Alliance Processing Corporation,
a Debt Management Organization
“At a time when both the United States and the world itself are
facing the worst depression the planet has seen in over 75 years,
Mr. Manganiello has created a very timely and powerful self-help
tool for cash fl ow burdened America. His work is more than a mere
lifesaver for those who are drowning in debt. It is truly chicken soup
for the fi nancially troubled soul.”
— Lee Newlin
Superior Debt Services, Inc.
“This book can secure your fi nancial future. It does not matter at what
age you make the decision to become a Debt-FREE Millionaire, these
strategies work. The message is that the time to change your life is now
because the basic principles apply in good times and in bad times.”
— Donald Leibsker
Attorney at Law
“As a pastor I am always looking for practical tools to help my congrega-
tion get disentangled from the deceptive web of debt and become faith-
ful stewards of their fi nances. Tony not only gives us a reliable compass
to navigate this confusing fi nancial world we live in with the “Cash-Flow
Analysis,” but also gives us what should be the standard fi eld manual for
anyone considering using a debt-management company. A must read!”
— Mel Wild
Senior Pastor, Cornerstone Church
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THE
DEBT-
FREE
MILLIONAIRE
WINNING STRATEGIES
TO
CREATING GREAT CREDIT
RETIRING RICH
AND
ANTHONY
MANGANIELLO
John Wiley & Sons, Inc.
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Copyright © 2009 by Anthony Manganiello. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or
transmitted in any form or by any means, electronic, mechanical, photocopying,
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.com/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have
used their best efforts in preparing this book, they make no representations
or warranties with respect to the accuracy or completeness of the contents of
this book and specifically disclaim any implied warranties of merchantability
or fitness for a particular purpose. No warranty may be created or extended
by sales representatives or written sales materials. The advice and strategies
contained herein may not be suitable for your situation. You should consult with
a professional where appropriate. Neither the publisher nor author shall be liable
for any loss of profit or any other commercial damages, including but not limited
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For general information on our other products and services or for technical
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Library of Congress Cataloging-in-Publication Data:
Manganiello, Anthony.
The debt-free millionaire : winning strategies to creating great
credit and retiring rich/Anthony Manganiello.
p. cm.
Includes bibliographical references and index.
ISBN 978-0-470-45576-0 (cloth)
1. Debt. 2. Finance, Personal. I. Title.
HG3701.M26 2009
332.024'01—dc22
2009013317
Printed in the United States of America.
10 9 8 7 6 5 4 3 2 1
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To:
My mother, Peggy, who never stopped believing
in me (even when I did). I love you, Ma.
You’re the best!
John and Lois Cummuta, my father-in-law and
mother-in-law. In response to the list of blessings
you’ve given that is much too long to list and
continues to grow, all I can say is, “Thank you.”
Pop, there is no better mentor on the planet.
My wife, Stacyann, whose support, love, and
dedication inspire me more than words can
express. You are my Wonder Woman!
My five boys, Dominic, John, Michael, Nico, and
Luciano. You are my greatest joy and blessing on
earth. Your daddy will never be able to love you
enough, but I’ll never stop trying.
My Lord and my Savior, Jesus Christ.
My greatest love of all.
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Contents
Foreword ix
Acknowledgments xiii
Introduction: Setting the Stage 1
Step 1: Understanding
Debt and Credit
Chapter 1 What Is Debt? 19
Chapter 2 What Is Credit? 33
Step 2: Identifying Where You Are
so You Can Determine How to Get
to Where You Want to Go
Chapter 3 The Cash-FLOW Analysis and
Why You Need One 53
Chapter 4 Doing Your Own Cash-FLOW Analysis 71
Chapter 5 Inside the Numbers: Different
Categories of CFI 85
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vi CONTENTS
Step 3: Using the Results
from Step 2 to Chart Your
Course toward Becoming a
Debt-FREE Millionaire
Chapter 6 A Little Deeper Inside the
Numbers: Potential Credit
Impact of Adequate to
Healthy CFI 95
Chapter 7 A Little Deeper Inside the
Numbers: When Your CFI
Requires Mortgage
Restructuring 109
Chapter 8 A Little Deeper Inside the
Numbers: When Your CFI
Requires Debt Management 123
Chapter 9 A Little Deeper Inside the
Numbers: When Your CFI
Requires Debt Settlement 137
Chapter 10 A Little Deeper Inside the
Numbers: When Your CFI
Requires Bankruptcy 153
Step 4: Identifying and Defining
Your Retirement Needs, and
Creating a Time Line toward
Achieving Them
Chapter 11 Accumulating Wealth and
Retiring Rich 169
Chapter 12 It Takes Money to Make Money:
Accumulating and Living Off
Your Wealth 181
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