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Financial Mentor – Design Your Wealth Plan

Archive : Financial Mentor – Design Your Wealth Plan

The problem is… The single most crucial step in achieving financial freedom is creating a specific, documented wealth plan because the alternative involves daily effort wastage, resource waste, and significant failure risk. Simply said, this makes sense, and the other is unreasonable. Why would you act otherwise?

Yet, isn’t it surprising how much more time most individuals spend organizing their family vacation than their financial future?

Everyone is aware that without previous planning, including hotel and flight bookings, a vacation will not take place. It’s fairly clear. But few people are aware that until you make equivalent financial and time reserves, your wealth won’t increase.

Consider it this way: You would never think of constructing a home without first having an architect create a detailed layout of the entire construction. Before you cut the first board or drive the first nail, you must understand how all the pieces go together and the proper construction sequence. Any less would result in an erratic outcome and wasted effort.

Financial independence operates in the same manner, though.

To ensure that everything works together well, you need a design with detailed instructions that meticulously arranges your everyday activities into a strategic sequence. It must be specially created to suit your abilities, resources, financial demands, and skills in order to function.

Your plan might act as a link between your current circumstances and your future financial goals if it is correctly constructed. Your aspirations will become a reality once that strategy is implemented. The needed acts must be finished as the only thing remaining to accomplish. It makes achieving financial freedom much simpler overall.

The unsettling reality is that your chances of attaining your financial objectives reduce each day you go without using this blueprint to direct your choices. It makes you slightly more distant and hence more difficult to reach.

Reading how everything works together in the next few minutes will be time well spent if you seek financial freedom in this lifetime.

The fallacy of traditional wealth plans

It’s an all too typical situation.

Your financial advisor is seated across from you at the desk.

He asks you a few questions about your earnings and spending before mentioning your risk tolerance.

Then, after entering the data into his computer, he miraculously determines the precise asset allocation you need to build your financial nirvana (and he also happens to have unique access to these assets!). The paper is meticulously designed with lovely pie charts and colored graphs.

It’s supposed to be your wealth strategy, however there are some issues…
Because there is nothing you can do with the paper (other than transfer money to your financial adviser to purchase the investments he advised), you put it on your shelf when you go home, where it gathers dust in the background of your life.
The most important question in riches, “How are you going to generate the money in the first place?” is left unanswered.
In other words, necessary actions are not present.
The issues become clear when you look closer:
It’s not a real strategy to support wealth accumulation or other monetary objectives.
It is presumptive that you have capital to invest.
As a result, what you actually receive is a strategy for stashing away your acquired riches (because the planner’s true objective is to sell you financial goods, which does involve investments).
It’s restrictive.
Typically, the paper assets (stocks, bonds, mutual funds) that the adviser may sell you make up the plan’s asset element. What about real estate, the glaringly underappreciated tax benefits, and business-related potential to increase income? What about figuring out how to control your spending and all the other elements that have to be included in a thorough wealth strategy? More must be included than what the “professional” are advocating.
It is passive, which makes it thoughtless.
You need not do anything to carry out the strategy. It is entirely passive. Giving your broker/advisor all of the money you make elsewhere is the only thing you’re meant to do, and you’re expected to put your faith in his skillful investment management, which is intended to make you wealthy. Simply give him money and pay his costs.

This kind of scheme should be biased, but the hidden incentives should be clear. But how can you put up a thorough wealth strategy that doesn’t exclude crucial elements and isn’t skewed by adviser compensation?

There is an easy solution.

You must do it independently, and this course aids you in doing so.

You must be aware of both the where and the how.

You’ll arrive there first (Only then can you choose the right investment vehicle to take you there).

These four elements make up a thorough wealth planning process:

1 Wealth Creation Plan: How will you accumulate wealth for investment?
2 Wealth Translation Plan: A strategy for effectively converting income into assets to increase wealth.
3 Investment Strategy – How you invest your money to boost buying power by outpacing inflation.
4 Action Plan – A step-by-step plan for putting the aforementioned into action.

You may have noticed that the financial independence plan’s four main phases are only one of them—the investing plan.

Before any of the resultant cash can be invested, a needed set of action activities must be drawn out in a strategic order. The first steps are crucial, yet shockingly, they are virtually often skipped.

The life cycle of wealth accumulation is another significant factor that is disregarded by most wealth programs.

It turns out that in order to achieve your objective as effectively and swiftly as possible, a strategic order must be followed.

Maximizing your savings rate as a percentage of your income is the most crucial step to take during the accumulation phase, the first half of the life cycle. Focus on your savings rate and all the techniques for building a significant gap between income and expenditure during the early stages of the plan if you want to reduce the amount of time needed to reach financial independence.
Your net investment return after inflation will only become important later in the wealth planning life cycle.
There are also more sophisticated plans built on the cash flow and leverage concepts covered in Module 5 of the course. This does away with the typical earn-save-invest asset building technique and replaces it with a cutting edge framework that entirely alters the structure of your plan and dramatically accelerates your financial goals.

According to your unique life circumstances, there is a strategic sequence in which you should carry out different plans and measures to reach financial independence.

Your wealth plan will demonstrate to you how to make the most of your life in order to achieve your goals. This course has all you need, but you still need to put in the effort.

Identifying Your End Goal – Before you can figure out how to go anywhere, you need to know where you’re going. Because financial freedom is a genuine figure that cannot be falsified, this stage is difficult than it appears. You must clearly identify what you consider to be financial independence and what it isn’t for you. You can’t just choose a number at random. It is genuine and particular to you. It serves a meaningful function. You won’t attain the intended outcome until your aim is defined appropriately.
Locating Your Start Location: This is a little simpler. We do this by thoroughly evaluating your present circumstances.
The Ten Tenets Of Smart Wealth Planning Should Be Used – Learn how to incorporate these tried-and-true wealth-building ideas into your strategy.
The fun part starts here—making the fastest route. We create plans for achieving your goals and bridging the gap to actualized riches and financial freedom. We divide the stages of your strategy into three distinct categories: wealth creation, wealth translation, and wealth growth. We come up with strategies to take use of your innate abilities and competitive advantages while working around your deficiencies. We determine a realistic time frame for achieving your objective.
Engineering The Numbers: If the numbers don’t add up, a plan is merely a wishful thought. We’ll employ methods that make this process simple and well-defined.
Boosting Your Plan – Now that your fundamental strategy has been developed, it’s time to come up with other living scenarios and analyze how the numbers would change based on what is actually feasible in your reality. Different strategies for managing longevity risk, alternative uses for leverage, swapping out asset classes, reallocating your limited resources for greater impact, passive vs. active investing, the speed and dependability of the plan, creating bailouts and backstops, focusing on cash flow rather than asset accumulation, and many other principles are all applied in this stage.
Actions for reverse engineering – It is now time to put the complete plan into action by taking the necessary steps, so you will know exactly what to do this week, this month, this year, and in five years. Warning! There are proper and improper ways to carry out this action. I’ll show you the proper procedures to follow.
Course-correcting: As soon as the plan is finished, you start acting. I’ll demonstrate how to modify your strategy as you go along so that it is flexible and changes as you move along. It is a functional, active handbook that will never be left on your shelf and gather dust. I’ll demonstrate the pitfalls to avoid and the best ways to change along the way to accomplish your objective.
what you receive
Access To Eight Training Modules Right Away:
Make a plan that is unique to you to become financially independent.
30 illustrative wealth plans
Todd will guide you through 30 model wealth strategies that he specifically designed for you.
Discover at Your Own Pace:
24/7 unrestricted access for practical education.
Step-by-Step Instruction: Each session comes with an overview of the main ideas, supporting resources, a fast action guide, audio, video, and a PDF transcript.
Equipment & Resources:
Access helpful calculators, mind maps, spreadsheets, checklists, and other resources.
Practice Exercises: Use examples from the actual world to help you through each phase of developing your own strategy.
Live Business Hours Support: Todd Tresidder offers weekly live mentoring and Q&A sessions just for founders!
Connect with a community of high achievers through the Members Only Discussion Forum.

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