The Keys to Financial Independence

There’s an old saying - "Life is not a dress rehearsal. It’s the real thing".  With that there’s a certain amount of living on the edge that’s needed if one is going to excel. Does that mean you need to live on the edge of a financial cliff each week or month though? Quite the opposite - it’s very liberating to not need to worry about your finances, and then you can enjoy those moments of living on the edge.
The keys to this are:

•    Evaluating your current financial situation objectively. Get some assistance to do this if necessary. Then put a plan in place to consistently knock down your debt.

•    Minimize your taxes.  There are ways you can legally and lawfully lower your income taxes.  Learn ways that you can benefit specific to your situation.

•    Create a savings/emergency fund.  You should have a minimum of 3-6 months of income saved to pay your bills in an emergency situation.

•    Ensure proper protection, so you can sleep better at night. Is your family properly protected?  Do you have adequate life insurance? Do you have a living trust?  Find out what you need to do to protect your family’s assets.

•    Create wealth and build a legacy. This is where it gets FUN! Invest like the wealthy and see how it grows. Fully fund college accounts.  Retire early on your terms.  Make your financial dreams a reality.

•    Remember that finances are only one piece of the "being wealthy" equation.  Maintain your health so you can enjoy the fruits of your labor. Give back to your family, friends and community - it’s a wonderful feeling, embrace it.

Until next time -

Janet

"Take control of your destiny or someone else will"