Creating the Plan
Welcome to the next step in creating your financial freedom. In the financial freedom tips we create a mental visualisation of what your lifestyle will look like two, five or even ten years from now depending on where you want to be and what your passion is.
Congratulations! You have already come so far in getting your financial freedom. However at the end of your education period you want a clear plan of how to get to where it is that you want to go.
Our coaching clients love this part because it enables them to focus and as you know, “where focus goes, energy flows and results show“.
Your Wealth Creation Plan will indicate quite decisively where you will invest and what your investment portfolio will look like so you can be confident to look into the asset classes in which you wish to invest.
However, before embarking on that path there is a little work that you will have to perform to determine your NOW, WHERE & WHEN and the HOW of getting there.
Now
Calculating how much to have to invest means doing some work!
What is your monthly income and what do your expenses cover on a monthly basis?
How much do you have left over after all of your expenses have been paid?
You will need to identify your assets, associated liabilities and the categories of assets that they comprise. You will be examining your current skills, available time and existing current income flows.
You need to know where you are now so that you know where you are able to go.
Where and When
You will be getting more specific about your goals in this chapter.
You’ve identified your dreams using your dream/vision board, so now you need to work out what your goals are. Your dreams need numbers, so you’ll discover how to determine the dollars anticipated to zoom to your state of financial freedom in your desired time frame.
How
Discussing the HOW to get to your financial freedom defines the strategies which, when implemented, will determine the appearance of your investment portfolio.
Strategies will be influenced by your passion, your available time, and the asset classes that interest you, together with your perception of investment risk. pervading those influences is whether you are a passive or active investor.
In Wealth Creation Strategies we look at the different asset classes that will comprise your portfolio.
Your Next Step:
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