Hi ric ,
Designing your wealth plan can be intimidating...
Where do I start? What should I include? In what order?
In this lesson I will break the daunting task of formulating
your wealth plan into bite-sized, actionable, chunks so that you
can actually complete the task.
Here's how to do it step-by-step...
The first thing to remember is that building wealth is really two
steps (but most people mistakenly think in terms of only one). You
must create wealth first then you must invest it wisely. Make sure
both steps are in your plan in the correct order.
Most people fail to plan adequately for the wealth creation half
and only think in terms of investment strategy (traditional
financial planning). This is a mistake. Your wealth plan must focus
first on wealth creation and then it must grow that wealth through
investment second.
Another thing to remember is your wealth plan must include the
essential principles to wealth as taught in previous lessons. If
you exclude the essential principles it likely won't work. That
includes integrating your unique values, skills, and goals so that
you have the best odds of reaching the objective.
Once you've designed your plan it is time to test it with hard
numbers. You will literally engineer your way to wealth using a
calculator so you can see whether or not your plan will really work
and what you must do to reach the objective. Anything less is
guessing.
My Ultimate Retirement Calculator was designed specifically for
this purpose. It allows you to change just one input at a time so
that you can compare various scenarios until you get it right. You
can add multiple income streams, asset sales, and more. I had it
custom programmed for working with my financial coaching clients
and I give you free access to it here...
http://clicks.aweber.com/y/ct/?l=NNrzc&m=1k5jJzM.2yc.MS&b=WNf9KBvTzKjYFHB.0PrYZw
Finally, the best engineered plan is worthless unless it results in
action. When I develop wealth plans with coaching clients the final
step is to convert it into an accountability process with
milestones to mark progress along the way.
The accountability process reduces each major segment of your plan
down to the 2-5 strategic actions you must habitually follow to
reach the goal, and the milestones provide regular feedback letting
you know if you are on track or behind.
Notice how there is no vagary in this process. It is clear and
definitive. This is not pie-in-the-sky wealth building. It is
results driven, actionable planning.
You follow three specific steps: you design the theoretical plan,
then you engineer it with hard numbers, then you convert it into
daily action steps with milestones proving you are on track to your
goal each week and month you work at it.
You are working with an engineered plan and have hard numbers to
back it up. You take daily actions with progressive milestones that
tell you whether or not the process is working. There is zero
guesswork or wishful thinking involved.
You are engineering your way to wealth - literally - by plan. It is
as scientific a process as anything involving money and humans can
be.
I know it works because I developed this process by trial and error
over many years working with financial coaching clients. I proved
it out in the trenches of practical experience (and I'm giving it
to you here for free!).
All you have to do is complete the work by following each of the
steps. Don't leave anything out because there is no fluff in this
process. Every step is essential.
And that is your homework for this lesson. Design your plan, back
it up with hard numbers using the calculator linked above, and
reduce it to an accountability process so that it converts theory
into meaningful action that produces results.
As always, if you are getting value from these lessons the best way
to return the favor is to tell your friends. Spread the word by
blogging about it or sharing it through social media. I
appreciate your support.
In the next lesson I will share how you can be really strategic
with your wealth plan and maximize your competitive advantage. You
won't want to miss it.
See you in a few days...
Todd R. Tresidder - Founder
FinancialMentor.com
CreateCorp Business Solutions, Inc.
DBA FinancialMentor.Com
14085 Raider Run Road
Reno, NV 89511, USA
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