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Introduction

Welcome to Financial Security For Dummies!

I know from my work as a personal financial counselor and educator that many Americans lack a sufficient background in the financial basics. My first book in this series, Personal Finance For Dummies, sought to address and help close that gap, and the feedback from that book suggests it clearly has helped.

I’ve seen over time, though, that folks who know many of the basics can still suffer financially at important junctures and when hit by unexpected events. So, this new book, Financial Security For Dummies, is like an advanced version of or a sequel to Personal Finance For Dummies.

About This Book

Most people value financial security and stability, of course, unless they like danger, risk, and turmoil! Living within your means, saving and investing in wise, proven investments, and securing catastrophic insurance are all keys to sound personal financial management.

Unfortunately, your financial security can be undermined by things outside of your control. Upsetting events can include macro-events like the COVID-19 pandemic (2020) or financial crisis (2008) as well as individual life changes or personal crises, such as job loss, divorce, caring for elderly parents, and so on. Part 1 addresses these two major types of crises or catalysts.

You may find that at some point, you need to access funds in the event of a crisis. It should give you peace of mind to know that there are ways to get help. Part 2 looks at all crises (economic and personal) and discusses safety nets that people can tap and emergency measures they can implement.

You may be looking to navigate the barrage of information coming at you while an economic crisis is in motion. Part 3 contains content that is central to the book and vital for you to understand as you deal with turbulent times.

To maintain financial stability, you need to keep your financial house in order. Part 4 identifies the key personal finance tasks and steps to take to maximize your future financial security and minimize problems when disruptions inevitably occur.

What does the future hold? No one knows for sure, but there are ways to be prepared. Part 5 delves into discerning what pundits may be telling you about current and future economic issues and finding out how to keep yourself and your finances on track when things look gloomy. It also touches on what future crises may be in store and how to keep your cool.

Foolish Assumptions

Whenever I approach writing a book, I consider a particular audience for that book. Because of this, I must make some assumptions about who the readers are and what those readers are looking for. Here are a few assumptions I’ve made about you:

 You want the best for you and yours and would like to make the most of your money. While you understand there are no guarantees, you’d like to best prepare your financial situation to weather a wide range of adverse conditions.

 You’d like to gain a better understanding about how the financial markets and economy work so you can intelligently process news and information that hits, especially in the midst of a crisis.

 You’d like to be positioned to be able to invest at least some of your money when otherwise attractive investments have declined in value.

If any of these descriptions hits home for you, you’ve come to the right place.

Icons Used in This Book

Throughout this book, you can find friendly and useful icons to enhance your reading pleasure and to note specific types of information. Here’s what each icon means:

This icon points out something that can save you time, headaches, money, or all of the above!

With this information, I try to direct you away from blunders and mistakes that others have made when making important personal finance and related decisions.

Here I point out potentially interesting but nonessential stuff.

Look for this icon to find real-life examples to help exemplify a point.

I use this icon to highlight when you should look into something on your own or with the assistance of a professional.

This icon flags concepts and facts that I want to ensure you remember as you make personal finance decisions.

Beyond the Book

In addition to the material in the print or e-book you’re reading right now, this product also comes with some access-anywhere info on the web. Go to www.dummies.com and type in “Financial Security For Dummies Cheat Sheet” in the search box to discover a list of pointers that can help you keep your finances safe.

Where to Go from Here

If you have the time and desire, I encourage you to read this book in its entirety. It provides you with a detailed picture of how to best ensure your financial security. But you may also choose to read selected portions. That’s one of the great things (among many) about For Dummies books. You can readily pick and choose the information you read based on your individual needs. Just scan the table of contents or index for the topics that interest you the most.