The 3-Step Makeover

      You should never depend on anyone to be your financial plan.

The only person you can rely on to be there for you your entire life is yourself.

It starts with getting your own unique financial plan together.

     

1. Find Your Why

Start by figuring out the reason you are finally deciding to become financially free.

Hold on to it tight. Write it on a post-it note and put it somewhere you can see it.

Your reason why will get you through those times when things don’t go as planned, or when you start to doubt yourself.

Working on your dreams can be hard sometimes.

This is where you need a reason to keep working on your dreams, this is your why.

Your why is precious keep in mind.

Your why become the rod and stuff the comforts you in difficult times it rejuvenates your energy days or weeks.

 

Having a compelling motive will keep you going.

         

2. Determine Where You Are Today

Before you can get to where you want to go, you have to know where you are.

Take stock of where you are today financially.

What’s your current financial status?

Determine how wealthy you really are by asking yourself this question: If I stopped working today, how many days could I survive financially?

Look at your monthly expenses.

Add up how much money you have in savings, stocks, and cash flow.

Then, it’s time to calculate your wealth number.

Follow this equation:

Your Income / Monthly Expenses = Your Wealth

Many people are surprised to learn this number — so if it shocks you, that’s OK.

Knowing it is half the battle, and hopefully enough to motivate you to make some changes to your financial future.

   

3. Decide Which Investment Plan Is Best For Your Lifestyle

Now that you know where you are financial, where do you want to go from here? And, more importantly, how will you get there?

In this part of the planning process, there are two questions to ask yourself:

Am I investing for capital gains or for cash flow?
What’s my goal?

After following these three steps, it’s time to drill deeper and get a more detailed plan together.

This is where your homework begins.

Now you create the plan that will get you to your goal.

There are so many investment vehicles available to you, so start researching and find what your preferred investment is.

Learn everything you can about your investment choice…

  •  Read books
  • Sign up for courses
  • Seek out a mentor
  • Find a coach
  • Speak with an advisor
  • Play the CASHFLOW   Board Game
  • Study the financial  section of the newspaper

Again, this is only something you can do, no one can learn all this for you.

The choice is yours.

You can sit back, let someone else make financial decisions for you, and rely on a spouse or government policy to take care of you.

I’m sure you could live quite comfortably that way, for a little while anyway.

But it doesn’t last.

The past year and a half have shown us just how chaotic the economy is and how quickly things can change overnight. We can’t control life’s ups and downs.

The only thing we can control is how prepared we are to tackle the challenges when they come.

Is your financial plan stable?

Maybe it’s time to make that change and become your own financial plan.

This is the great lesson I have learned from my mentor, Robert Kiyosaki.

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