The 3 F’s
We believe there are 3 things you can have regarding your future finances.
Financial Security
Financial Independence
Financial Freedom
At first glance, those 3 things all look similar, but they are very different. All 3 are desirable goals and can be achieved with a well-thought-out plan.
1. Financial Security will give you just that. You will feel secure enough to retire, but won’t be able to do all the things you want to do in retirement.
2. Financial Independence allows you to do more of the things you want whether that is traveling, helping the kids or grandkids with college, and gives you a nice margin of confidence to not have to worry.
3. Financial Freedom is about having more choices. More chances to achieve your bigger dreams. More options to take trips you never thought you could afford. More money to leave a legacy if so desired.
The 35-20-10 Rule:
Whatever you want your ideal life to be, paying yourself first is the first discipline you need to focus on. The 35-20-10 Rule is simply the percentage you put away of your income and whether that percentage is enough to achieve your goal of financial security, financial independence, or financial freedom. Everyone has different lifestyles, budgets, and dreams. If you want financial freedom, putting away between 30-40% may be what you need to do, to achieve that goal. If you desire financial independence, setting aside 20% of your income may be what is necessary to achieve that feeling of independence.
Whatever your goals are, we can develop a plan to help you achieve your desired lifestyle. It all starts with building a comprehensive plan and running what-if scenarios that show you how you can achieve your goals.
What Are Your Dreams?
Do you want to create a life centered around traveling the world?
Do you want to spend more quality time with family or friends?
Do you want to leave a legacy for your family or favorite causes?
Do you want to slow down and work part-time doing something you are passionate about?
Do you want to own a vacation property in the Caribbean or someplace warm?
Do you want to help your kids or grandkids with college or buying their first home?
Whatever your dreams and desires are, we would love to help you achieve your most important goals. Get in touch with us today.
Take The First Step
Schedule a discovery call. Fill out the information below and we will be in touch.