Achieving Financial Stability in America 4th Ed. (2023-2024)

Misook Yu, CFP®

Dec 2023 · YU & Money LLC

About this ebook

Most Americans are in great financial pain. They may appear to be fine because they don't express their suffering, but the overwhelming majority, three out of four, are living paycheck-to-paycheck with less than $1,000 for emergency savings. Many parents are still making payments for their own student loans while scraping every dime to send their children to college at the same time. People even with health insurance often hesitate to see a doctor because they fear what they may have to pay under deductible and coinsurance. Seniors are frequently skipping a meal because they can't afford it. 

How could that be? Among many reasons, expenses for college education and medical costs have been increasing at a faster rate than inflation, while wages have been stagnating in the past decades. And with decreasing pension plans, people have to prepare for their retirement now, for which they have no training. Financial professionals have been chasing the wealthy for so long, leaving the ordinary people who could've significantly benefited from their service mostly underserved. Many politicians seem to favor policies that are beneficial for their mega-donors, while lip-servicing wageworkers to get their votes. Working hard and being frugal is no longer enough for most people to be financially stable as it had been for the previous generations.

What choice do you, an ordinary person, have to survive in this reality? Save as if your life depends on it and vote for politicians and policies that support your financial interests. Learn tax-advantaged features and utilize asset protection rules that have been enjoyed by the wealthy for so long and use them to save, grow, and protect your money. You have more power than you may think to improve your finances, and I hope this book will help awaken that power within you.

About the author

Misook Yu, CFP® is an independent financial planner and founder of YU Financial Advice LLC, focused on providing accessible financial guidance and education so ordinary Americans can gain control of their financial health. Having come from a humble background and realizing how important understanding and utilizing the ‘financial system’ is, she went back to school to study finance and become a CERTIFIED FINANCIAL PLANNER™ (CFP®). She graduated summa cum laude in Finance and now operates a fee-only (flat fee) planning firm devoted to empowering clients with money management awareness. She believes knowledge in personal finance is basic human rights like literacy.