| Money and Stress |
So, what else is new? Everybody
experiences stress when it comes
to money. However, everybody
should know that living within
one's means is the first step to
lessen, or eliminate, stress
caused by money issues.
Historically, police officers were
vastly underpaid, but that has
changed dramatically. Few
twenty-one year people can begin
a career earning a salary better
than that of a new police officer.
It's still true that you'll never
become rich on a police officer's
salary; however, the way you
manage your earnings can
change that picture on a long
term basis.
As a police officer, you have a
number of ways to increase your
experiences stress when it comes
to money. However, everybody
should know that living within
one's means is the first step to
lessen, or eliminate, stress
caused by money issues.
Historically, police officers were
vastly underpaid, but that has
changed dramatically. Few
twenty-one year people can begin
a career earning a salary better
than that of a new police officer.
It's still true that you'll never
become rich on a police officer's
salary; however, the way you
manage your earnings can
change that picture on a long
term basis.
As a police officer, you have a
number of ways to increase your
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| Copyright © 2006 - 2009 - Barry M. Baker - CareerPoliceOfficer.com |
| Disclaimer |
| CareerPoliceOfficer.com is not responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites. Links are provided only as a convenience, and the inclusion of any link does not imply endorsement by this site. |
income. If you do your job, and you arrest a lot of bad guys, you'll be
spending a lot of time in the courtroom. When that time in the courtroom
is apart from your regular tour of duty, you'll be earning your salary on an
overtime rate which is typically time and a half. When I started my career
in 1971, officers received $2 for district court and $5 for criminal court no
matter how many hours you spent on the court appearance…talk about
things changing.
Today, police departments spend a lot of money on overtime for any
number of activities. If you want to invest the time, you'll have plenty of
opportunities to increase your income over your base salary. Of course,
spending a lot of time on any job can increase stress relative to the extra
hours. The one big mistake police officers make is the same mistake any
number of other people make. When a person increases income, that
person often begins to live within the means of the higher income. Even
when overtime is available and plentiful, one should never consider that
circumstance as a permanent situation. Additionally, the physical stress
associated with working extra hours catches up to anyone at some point.
If you're smart, you'll take advantage of the opportunities to increase
your income. If you're really smart, you'll use that extra income to
eliminate debt and begin a tax deferred retirement fund separate from
your police department pension fund. I know, that's so far into the future
that you can't even think about something which seems so abstract at this
point in your career. But, you can eliminate debt right from the
beginning. Don't listen to people who talk about tax deductible interest.
Interest is a killer…unless, you're the one collecting the interest.
Unless your family is loaded, you've already experienced money stress,
because you're young and your earning power is still in its infancy. As a
new police officer, don't expect the sudden increase in your income to
change everything just as suddenly. If you're single, you'll probably just
enjoy the extra cash. If you're married with a family, you'll have to be
much more responsible. Either way, if you just sit back and think about
how to responsibly handle your finances, you'll do just fine.
When it comes to money, nothing is ever really simple. There are so
many things that can cause you financial crisis and the accompanying
stress. You can do a lot to discipline yourself; however, things can happen
over which you have no control. That's why you have to immediately act
on things like insurance and savings. While you may not be able to
control future events, you certainly can prepare for them.
As a police officer, you'll have no natural immunity against financial
stress. But, as a police officer, you'll experience the results of financial
stress on a frequent basis. You'll respond to countless calls for domestic
disputes. Nearly all of those domestic disturbances will be a result of
alcohol or money or both. You'll see first hand how many people are
totally incapable of managing their lives, so it should come as no surprise
that they're incapable of handling their money as well.
spending a lot of time in the courtroom. When that time in the courtroom
is apart from your regular tour of duty, you'll be earning your salary on an
overtime rate which is typically time and a half. When I started my career
in 1971, officers received $2 for district court and $5 for criminal court no
matter how many hours you spent on the court appearance…talk about
things changing.
Today, police departments spend a lot of money on overtime for any
number of activities. If you want to invest the time, you'll have plenty of
opportunities to increase your income over your base salary. Of course,
spending a lot of time on any job can increase stress relative to the extra
hours. The one big mistake police officers make is the same mistake any
number of other people make. When a person increases income, that
person often begins to live within the means of the higher income. Even
when overtime is available and plentiful, one should never consider that
circumstance as a permanent situation. Additionally, the physical stress
associated with working extra hours catches up to anyone at some point.
If you're smart, you'll take advantage of the opportunities to increase
your income. If you're really smart, you'll use that extra income to
eliminate debt and begin a tax deferred retirement fund separate from
your police department pension fund. I know, that's so far into the future
that you can't even think about something which seems so abstract at this
point in your career. But, you can eliminate debt right from the
beginning. Don't listen to people who talk about tax deductible interest.
Interest is a killer…unless, you're the one collecting the interest.
Unless your family is loaded, you've already experienced money stress,
because you're young and your earning power is still in its infancy. As a
new police officer, don't expect the sudden increase in your income to
change everything just as suddenly. If you're single, you'll probably just
enjoy the extra cash. If you're married with a family, you'll have to be
much more responsible. Either way, if you just sit back and think about
how to responsibly handle your finances, you'll do just fine.
When it comes to money, nothing is ever really simple. There are so
many things that can cause you financial crisis and the accompanying
stress. You can do a lot to discipline yourself; however, things can happen
over which you have no control. That's why you have to immediately act
on things like insurance and savings. While you may not be able to
control future events, you certainly can prepare for them.
As a police officer, you'll have no natural immunity against financial
stress. But, as a police officer, you'll experience the results of financial
stress on a frequent basis. You'll respond to countless calls for domestic
disputes. Nearly all of those domestic disturbances will be a result of
alcohol or money or both. You'll see first hand how many people are
totally incapable of managing their lives, so it should come as no surprise
that they're incapable of handling their money as well.
Bulletproof: A Cop's Guide to Financial Success.This title was chosen by my nephew, Ryan R. Ward, from a list of
more than a dozen choices I had compiled. This title, Ryan said, "nails it." They say a book's title, or cover is
exactly what is judged by the browsing, undecided reader. If, however, Bulletproof has been added to your
academy's reading list, or assigned to you in any way, then you've not been given the choice of either reading or
passing up my book. Until I get word, somehow, of any disappointment by any of my readers, though, I'm holding
how an average cop was able to successfully retire from a career in law enforcement at a young age, financially
secure, and how you can, too. Every conceivable element I could imagine within the realm of finances, written
directly to and concerning a law enforcement audience, has been addressed. Bulletproof covers how to get
started on a sound saving/investing regimen; examines scenarios that everyone falls into; provides a full chapter
answering questions you must have about the book's content. Most of all, though, Bulletproof gives you the tools
you'll need to build the financial security necessary to retire successfully. It is tailored to you, my brother and
sister officers. What's unique, I'm told, about Bulletproof is twofold: First, no such guide exists (and information is
scant) which addresses financial training for law enforcement; and second, this book is written by someone who
completed a career in police work, then sat down and looked back at the ten-year period which I devoted to
preparing for my own retirement (saving/investing). In Bulletproof, I've detailed the same blueprint for you. I'm sure
you'll find this guide informative, entertaining, and most of all helpful in bulletproofing yourself financially.
more than a dozen choices I had compiled. This title, Ryan said, "nails it." They say a book's title, or cover is
exactly what is judged by the browsing, undecided reader. If, however, Bulletproof has been added to your
academy's reading list, or assigned to you in any way, then you've not been given the choice of either reading or
passing up my book. Until I get word, somehow, of any disappointment by any of my readers, though, I'm holding
how an average cop was able to successfully retire from a career in law enforcement at a young age, financially
secure, and how you can, too. Every conceivable element I could imagine within the realm of finances, written
directly to and concerning a law enforcement audience, has been addressed. Bulletproof covers how to get
started on a sound saving/investing regimen; examines scenarios that everyone falls into; provides a full chapter
answering questions you must have about the book's content. Most of all, though, Bulletproof gives you the tools
you'll need to build the financial security necessary to retire successfully. It is tailored to you, my brother and
sister officers. What's unique, I'm told, about Bulletproof is twofold: First, no such guide exists (and information is
scant) which addresses financial training for law enforcement; and second, this book is written by someone who
completed a career in police work, then sat down and looked back at the ten-year period which I devoted to
preparing for my own retirement (saving/investing). In Bulletproof, I've detailed the same blueprint for you. I'm sure
you'll find this guide informative, entertaining, and most of all helpful in bulletproofing yourself financially.
Bulletproof: A Cop's Guide to Financial Success
by Brett, M. Ward
by Brett, M. Ward
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