The Mentor
A Financial Guide for the Young Adult
by
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I wish I knew at age 20 what I now know at age 40. I wish I had a mentor to guide me along and teach me what I needed to know to make the right decisions about my finances and my life. If only I was made to learn in school about the real world outside of school and how to financially succeed in it, or at least avoid becoming a victim of it. Unfortunately, I did not have such person nor was I made to learn such matters in school. Like many of you, I was left to discover the complex world of personal finance all on my own. As you can imagine, many mistakes were made along the way. Some mistakes are still being paid for with time and money. Others can never be healed with neither time nor money.
For example, did you know that when you lease a new car they charge interest on the entire price of the car and not just on the portion that you are going to lease? That’s right, if the car has a price of $40,000.00 and the cost of a three year lease is $20,000.00, you would think that you only have to pay interest for borrowing $20,000.00. The real story is that you are made to pay interest on the entire $40,000.00 even though you are only borrowing half that amount. It might sound illegal but it happens each and every time a car is leased in America. Arming yourself with such knowledge will empower you to make correct choices for yourself and keep more of your hard earned money. Let’s face it. We live in a free market economy where everyone who has something to sell is out to compete for your dollars. It’s up to you to protect your interests and finances and keep more of the money you earned in your pocket.
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About the Book
Most young people entering adult life have little or no knowledge about personal finance. By the time they acquire that knowledge, it's too late to take advantage of the power of their youth. They are in desperate need of a personal mentor to educate them about the financial and social issues of their adult life. The Mentor is the one book that will convey years of financial knowledge and personal experience onto young adults. It has many of the information we wish we had when we started our adult life. It contains precise, detailed information about the everyday financial issues that affect your life, like Credit Scores, Credit Cards, Auto Leases, Mortgages, Taxes and many more.Written by an economic layperson for the economic layperson, The Mentor takes years of life experience and knowledge and combines it with information from many financial books. It is written in easy to understand language to create a financial guide, that young and older adults need, to be smart with their money. In addition it touches on some lessons for life that have come out of years living and working as a physician and patient advocate. The Mentor is just what the doctor ordered for students and teachers, as well as for parents and teenagers. The information contained within it is very valuable and enlightening to young adults as well as many older adults. I certainly wish I had such information growing up.
About the Author
Dr. Mohamed Ayad lives in Novi, Michigan with his wife and daughter. He has been practicing medicine for over 10 years. He has always had a passion for helping people, and this book is justs one of his latest efforts to do so. Dr. Ayad has overcome many challenges in his personal life. His journey is a testament to what hard work, patients and personal developement can achieve. His desire to educate young adults and keep them from making the same mistakes he made lead to the idea for this book. He hopes that more topics in The Mentor series will follow. Among his other creations is CodeSimulator, an iphone application to help doctors train for medical emergencies.