Federal Student Aid, FAFSA and New Year's Resolutions

Happy New Year!   I spent part of the New Year's weekend watching football (what a tough weekend for the Big Ten teams) and working on my 2010 taxes.  My oldest son will be starting college in the fall so I'm working on my 2010 tax return information to apply for Federal Student Aid.  The Free Application for
 Federal Student Aid (FAFSA) application needs to be submitted shortly after January 1 for students starting or returning to college in the fall.  As with most government programs funds are finite so it's best to apply
 early before the money runs out.  See http://federalstudentaid.ed.gov/  if you are interested in additional information on Federal Student Aid.  The website has a forecasting tool that is useful to determine how much financial aid one will qualify for if you'd like to get an early estimate for planning purposes.

I received some good books for Christmas.  I want to acquire a working knowledge of Microsoft Access so the MS Office System textbook I received will be useful in achieving this goal in the New Year.  I'm also reading a book called, "How Successful People Think" by John C. Maxwell.  I'm just getting started on it.  It's a pretty short read and from skimming through it it looks like it could have some worthwhile ideas.  From what I gather so far is that the author recommends that one takes the time to do a lot of thinking and be open minded to appreciate other ways of thinking.  Sounds reasonable to me.  Maybe food for thought for a future blog.

The best financial self help books I've read in the past that influenced my way of thinking are, "The Millionaire Mind and Next Door" series by Thomas Stanley and William Danko.  They were written back in 1995-96 but their message, that wealth is created over time by living below your means, is even more popular today.  What I like about these books is that the wealth creation techniques were compiled from surveys taken from millionaire business owners, professionals and working class people on how they had achieved financial independence.  Presenting ideas from actual surveyed data compiled for the book added credence to their thesis, something missing from most self help books.   I recommend either of these "Millionaire" books.  It's never too late to get started on building your financial independence!

According to the authors of the, "The Millionaire Next Door"  another correlation of wealth accumulation is employing  a CPA, not just to do your taxes but also to provide various kinds of financial advise.  Let me know if I can help you reach your financial goals in 2011. 

Andrew Jordan, CPA
248-514-6213