I have always been a firm believer in all of the freedoms our country stands for. However, I have also recognized the deception of many of the large financial institutions, government and lobbist across the country.
It might seem odd to some, to have a tax accountant who openly criticizes the way big banks and our financial operating system, but transparency and honesty has always been important to me. My intention is always to provide you with a variety of options that allow you to gain financial independence—not more of the same old information and tricks that you’d get at other financial consultants that just feed into a system supporting their own goals.
Do you want to take back control of your own finances? If so, here are the steps to get started:
Figure out what presently isn’t working and fix the problem, by knowing your net worth and building your own empire.
The objective of this exercise is to collect the information needed to produce your Net Worth Profile.
Once this is complete you will have a better idea of your Baseline Net Worth and the needs of your family.
In future exercises we will address tracking and correcting your path to reach your desired GOAL.
Manage your assets like a big bank does, get interest and charge interest, provide you with asset leverage.
Everything I just mentioned in this section of Banking on Yourself is part of Financial Freedom.
You make an investment into a cash rich policy that provides an estate as well as a death benefit to your family. More importantly it provides interest and dividends on the sum total of all your deposits, less premium, and allows you to borrow against the death benefit amounts for investment purposes and you control what when and how these investments are done.
Consider your own financial goals, both long-term and short-term. Create bench marks to be sure you are staying on task.
In the business world ratio’s are the tool used in comparing your success. I have attempted to give you a national average, so different communities will reflect differently.
Dream Big… is the all-encompassing view that you have for yourself in this lifetime. The quarterly plan will help you stay on task to achieving your goals. Yes, this will take a bit to get going but once you do, your vision and daily activities will become so focused you won’t even realize it was a chore to get started.
Save your tax dollars by planning early. Direct your tax outcome, reduce or defer capital gains, capture loses, adjust expenses to your benefit.
With the proper tax planning prior to a sell you could defer your liability to the next generation and provide them with a non -taxable insurance policy that could pay these taxes for them.
Granted not all people have large portfolios with high volume incomes at the sell. However, saving $20,000 in taxes is just as good as saving $200,000, so planning still helps everyone.
You can work with a professional who is invested in helping you achieve your goals, reduce risk, and protect your estate.
It’s only purpose is to provide an education in a general formation, so you can ask intelligent questions to arrive at your desired outcome. This is not meant to replace professional advice in any way.
I want to be your guide as you seek financial independence in your life, reaching outside of the limiting structures we all know so well. To learn more about the strategies you can use to kick start your financial planning and get the results you are looking for.