Many of the money practices held dear by middle class citizens are woefully outdated. Taught with the best intentions, they were practical for a simpler era.
St. Joseph, MO (PRWEB) January 17, 2017
What if Americans’ middle class background – and their middle class beliefs – are holding them back from the success they want? Surprising answers to this question and more are available in Dan Danford’s new book “Stuck in the Middle: The Mistakes that Jeopardize Your Financial Success and How to Fix Them.”
With more than 30 years’ experience across banking and investments, Danford, CEO and founder of Family Investment Center, has seen many investors with long-held and incorrect beliefs. It’s these experiences that led him to pen “Stuck in the Middle,” and he explains how middle class beliefs about money are often wrong, detailing a number of scenarios in simple terms. Danford gets specific about these issues in 20 diverse chapters on how to handle tax refunds and windfalls, diversifying investments, self-managing portfolios, common investment mistakes, annuities and more.
“Stuck in the Middle” also touches on an important and timely public policy issue. While many economists and politicians lament America’s shrinking middle class, Danford suggests a powerful reason why: Many Americans lack the financial education and tools necessary to thrive today. “Many of the money practices held dear by middle class citizens are woefully outdated,” Danford explains. “Taught with the best intentions, they were practical for a simpler era.”
Additional “middle class” concepts from the book include:
- Lack of knowledge that the investment world operates in layers, similar to retail or wholesale industries. This means one investment product could be offered across many different pricing schemes according to the type of advisor and amount of products selected.
- Many middle class investors may not realize that debt can be employed wisely to magnify wealth-building potential.
- The reality that banks are often used by the middle class for investing, a habit not embraced among the wealthy.
- A common belief that investing and finance is “boring.”
Danford, cited in many articles and interviews for his unconventional approach about finances – including Forbes, Wall Street Journal and the Kansas City Star – rejects the notion that personal finance has to be boring. This is evident in the conversational voice and jargon-free tone of the book. However, Danford realizes that the immediacy of daily life often takes precedence over investment and financial issues.
“Financial management becomes a secondary concern,” he said. “Many people, however well intentioned, simply don’t have time to follow the financial markets with the necessary dedication. ‘Stuck in the Middle’ offers a guide for people who are interested in educating themselves about finances and investments, but find themselves crunched for time.”
The book is available for purchase on Amazon and other fine booksellers.
About Dan Danford and Family Investment Center
Danford is author of the recently-published book “Stuck in The Middle: The Mistakes that Jeopardize Your Financial Success and How to Fix Them.” The book asks the question “What if your middle class background is holding you back from the financial success you want?” Danford answers the question by explaining that many middle class money beliefs are just plain wrong, and he explains why in simple terms. He is also the creator of the podcast “Money is Freedom,” available on iTunes and Sound Cloud.
Dan Danford serves as Founder/CEO of Family Investment Center, a full-service, commission-free investment advisory firm. Based in St. Joseph, MO, Family Investment Center also serves clients in the Kansas City Northland area and across the country.
Danford holds a business MBA and a second Master’s degree in Personal Finance. in 2012, he was featured in the book “America’s Top Financial Advisors.” A 2009 Wall Street Journal article outlined Danford’s unique birthday messages to clients, complete with a $2 bill inside the envelope. In 2009, Danford was also quoted on “ABC News” for his insight into how parents can protect funds for their children’s college education. He is a CFP® and was listed as one of the 150 Best Financial Advisors for Doctors in 2008 and 2009 by Medical Economics magazine. A 2006 article in The New York Times quoted Danford’s insights on working with a financial advisor. In 2014, Danford was featured in an article exploring solutions to math anxiety in the Voices section of the Wall Street Journal.