Filling The Right Prescription For Wealth Building

B.E. gives this year's financial fitness contest winners a check-up

meeting your financial targets. But whatever stage of life you’re in, you can achieve your financial goals by faithfully adhering to a master plan. be

For more information on DOFE, or to sign up for the 2001 Financial Fitness Contest, go to www.blackenterprise .com. You can also call 877-WEALTHY to get a complete list of all 10 DOFE principles, you
r free Wealth Building Kit, and details on our contest.

Nicole and Kevin Simpkins
Financial Snapshot:

  • Paid off $3,000 in credit card debt
  • Created emergency fund, current value = $3,500
  • Bought shares in CitiCorp. and Dell Computers
  • Started investment program in growth and aggressive-growth mutual funds

Jennifer Jones
Financial Snapshot:

  • Paid off balance of one credit card
  • Started saving approximately $300 a month
  • Invested $2,900 in employee stock options
  • Opened an IRA account invested in mutual funds
  • Readjusted asset allocation mix to meet retirement goals

Laurie A. Henry
Financial Snapshot:

  • Paid off two store credit cards and a Visa account, reducing debt by $1,100
  • Opened a money market account and is practicing dollar-cost averaging
  • Increased contributions to 401(k) retirement plan
  • Invested $1,500 in equity mutual funds

Sondra Helenese
Financial Snapshot:

  • Paid off about $1,100 in credit card debt
  • Curtailed spending on unnecessary items
  • Plans to invest $2,000 in mutual funds and open an IRA account
  • Brushed up on investment education

Phillip And Jamie Lomax
Financial Snapshot:

  • Paid off $2,300 in credit card debt- zero balance
  • Invested $500 of contest prize in Home Depot via a DRIP (dividend reinvestment plan)
  • Jamie “maxed out” her 401(k) plan at 15% of her $32,000 salary
  • Phillip opened Roth IRA

Anre And Lasharn Faush
Financial Snapshot:

  • Slashed their previous $3,800 credit card debt in half
  • Started $100 automatic monthly deposits into money market account
  • Invested $2,000 winnings in equity growth and aggressive growth mutual funds
  • Opened Roth IRA account to jump-start their children’s education fund
Pages: 1 2 3 4 5 6