Create a Financial Plan – Commit – Be Your Own Boss

No matter where you are today, you can begin to take control of your financial future. Small steps add up over time to BIG changes. We recommend that you consult with several Financial Planners to discuss your specific situation, however, below are six simple steps to begin your journey toward financial freedom.

1. Establish your Goal

a. Your goals are your own. Don’t let others goals influence you. You are the captain of your ship. Begin your financial journey with a clear destination.

2. Organize your Data

a. Look at your goals in 5 year, 10 year or 20 year increments. Tackle the 5 year goals first, then proceed to your 10 year goals and so on.

b. Things to look at include your age, are you close to retirement or just beginning your career? With those variables, you can determine how much risk you can tolerate should market corrections occur.

3. Analyze the data

a. If you are a financial wiz, pull out your financial calculator and run the numbers for your projected income, expense and retirement goals. If you are not, ask your friends who they recommend to run those calculations. This is a starting point and personal recommendations can go a long way in establishing trust and relating to the advice from your financial planner.

4. Develop your plan

a. In the world of finances, there can be several alternatives available to meet goals. In your discussion with your planner, decide on the best choice for you. This can include Annuities, 401K options, securities, real estate investing or starting your own business alongside your current job.

5. Implement your plan

a. This can be difficult as self-discipline comes into play. It can be easier to live for the day, but the reality is when you make a conscious effort to plan and prepare for your future, you can better enjoy your life knowing you are working toward your financial freedom.

b. Planning gives you’re the knowledge and freedom to choose where your money goes. An alternative is ending up at the end of each month wondering where it all went.

6. Monitor your plan

a. Life changes. How are you doing in relation to your plan? Are you finding that you are meeting your goals, or do you see a gap each month in your income, revenue and savings? If so, don’t delay. Meet with your financial planner for an update. You may have chosen goals that are too aggressive for your current life situation, or you may face that truth that you are not following your plan. Either way, it’s best to create a plan that you can follow and modify along the way as needed.

Building your own business can be one of the most rewarding endeavors in your life. There is tremendous pride in overcoming challenges, sticking with it, even in the tough spots, and realizing the fruits of your decisions and labor. When you work for someone else, essentially you are building their dream. When you work for yourself, you are building your dream. Request information today, and we’ll review a business that can be profitable Month 1. You can achieve your dreams.