Your Financial Freedom Day

Since financial freedom is your goal, examine your objectives more closely in order to break them down and determine exactly what they are specifically. Knowing your precise objectives will make it easier for you to focus on your targets and do what’s necessary to achieve them.

When you know where you’re going, it’s easier to forecast, to map out the route and find the quickest and most direct road to obtain what you seek. It also will help you to identify potential obstacles in your path so that you can avoid them or reduce their impact. Plus, clear, quantified objectives will enable you to monitor your progress and determine whether you’ve been successful.

Begin by answering the four following basic questions. Try to answer them as specifically as possible.
1. How much money (cash flow) do you want to receive each month? _______
2. What do you want your net worth to be? ________
3. At what age? ___________
By what day, month and year?

Don’t get paralyzed by numbers! Numbers can be discouraging they can scare people away and make them abandon their long-time dreams. Don’t consider numbers roadblocks, see them as reference points or measurement devices.

Most wealthy people utilize many income vehicles: they have corporations, trusts and foundations. They also have many streams of income including real estate, stock market investments, art, antiques and other collectables. Most rich people spend lots of time devising strategies and dreaming up ways to accelerate their wealth. They constantly create new visions.

Set SMART Goals:

S = SPECIFIC
They contain the complete details of everything you set out to accomplish. They state exactly what you want and provide a step by step plan laying out the methods you will use to get it.

M = MEASUREABLE
They include identifiable milestones such as dates, specific achievements and dollar amounts to measure both your progress and success. For example, the number of new clients you obtain each month, how much money deposited, or the amount of investment capital you raised.

A = ACHIEVABLE
They are attainable – goal you are capable of accomplishing. List exactly what it is going to take.

R = REALISTIC
You can achieve your goals with the tools at your disposal for those you can acquire. Write down some action steps. Find a mentor who is where you would like to see yourself. Mentors can provide reality checks and share with you what it took for them to get where they are.

T = TIMELY
What are your benchmarks and deadlines that you must meet at various stages and for completion? Deadlines keep you on track and create a sense of urgency to motivate you.