Pillar #3 of The 3 Pillars of Financial Freedom

In the last video, we covered Pillar #2 of The 3 Pillars of Financial Freedom. We unpacked 3 important steps people need to master to build longer term wealth.

However, there’s not much point building longer term wealth if your whole strategy is a ‘house of cards’.

In this week’s video we’ll explore Pillar #3 – Protect. We’ll cover the 3 main ways to protect yourself and your family as you build towards Financial Freedom.

Without Pillar 3 it’s like building a house on soft foundations, using cheap material, and with dodgy workmanship.

It would be like trying to climb Everest without safety ropes, an oxygen tank, or a climbing party of Sherpa’s.

Pillar #3 is all about expecting set backs, and being prepared for them when they come along. Remember it’s not “if”, but “when”.

It’s about making sure that your “financial house” stands strong in the bad weather, as well as the good. And it’s about making sure that your “financial house” is protected far beyond your time here.

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Pillar #2 of The 3 Pillars of Financial Freedom

Pillar #1 of ‘The 3 Pillars of Financial Freedom’ was like an architect drawing up plans for a house. It was about creating a ‘Vision’ of what the house looks like, evaluating and choosing the ‘Position’ to build on – then ‘Developing’ the plans in detail.

Pillar #2 is about turning those plans into reality by Building, one brick at a time, until your “financial house” is built.

Without Pillar #2 it’s like our Mountaineer client preparing to conquer Everest, but not actually setting out on the journey.

There’s not much point doing all the training, buying the best equipment, and studying the terrain – and not commencing the quest.

In this week’s video we’ll unpack what’s involved in Pillar #2 – The Grow Pillar. We’ll cover the 3 important steps you need to have in place to sustainably build wealth.

 

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Pillar #1 of The 3 Pillars of Financial Freedom

One of my favourite clients is a Mountaineer, and has successfully climbed to the summit of some of the highest mountains in the world – including Mount Everest.

Striving towards Financial Freedom is in many ways like planning to climb a high mountain. Nothing happens until a Decision is first made to do it.

It’s important to have a Vision of how high you want to go & Why. Are you aiming for the Summit? Or is half way up good enough?

Next you need to have a clear understanding of where you are starting from and how ready you are both physically & mentally for the journey ahead.

Finally, its crucial to have a Map and a GPS.

With each of The 3 Pillars of Financial Freedom there are also 3 steps. In this video we’ll explore the 3 key steps of Pillar #1 – The Planning Pillar.

These are the 3 key steps that are crucial for you to have in place, before starting (or continuing) your wealth building journey.

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The 3 Pillars of Financial Freedom

When striving to build wealth for the future to achieve your Financial & your Lifestyle goals, it’s important to have a simple system, and a framework to make decisions.

In this video we’ll cover an overview of what I call ‘The 3 Pillars of Financial Freedom’.

These are the three key areas to focus on for people looking to take control of their financial situation, and create a ‘Blue Print’ or a ‘Game Plan’ to build towards future Financial Freedom – while also planning to enjoy the journey along the way. Because ideally it’s about having “both” – Lifestyle now, and Freedom later. 

You can have “both”. It’s not easy, but you can do it with the right ‘Game Plan’. 

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10 Key Questions you should ask a Financial Adviser before choosing to engage them.

10 Key Questions title page

When you’re choosing a financial adviser to work with, it’s important you find the right fit for you and your circumstances. Engaging with and working closely with a quality financial adviser, can be one of the most important professional relationships you develop. Therefore, approach the initial meeting prepared to have an open conversation. You should be interviewing them as much as they are interviewing you.

An amazing client/adviser relationship should be win/win. It will be a relationship of mutual respect. It should be challenging (in all the best ways)…and preferably, be fun! Continue reading

How to Smash your Credit Card debt forever

Trying to create wealth and build towards longer term Financial Freedom, while over spending on credit cards with high limits, is like trying to fill your bathroom sink full of water…without a plug.

Letting credit cards get out of control is one of the major reasons why many people are not making the financial progress they’d like to. It’s also one of the main reasons that most people won’t achieve financial security, let alone financial freedom, during their working lives.

This video covers 4 key steps to smash your credit card debt forever, and take control of your cash flow to create wealth and build towards future financial freedom.

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The 7 Big Financial Mistakes that hold most people back

Isn’t it true that ‘Life is often two steps forward and one step back’? Our financial progress is quite often no different. We learn by doing, making mistakes, and then doing it better next time. However, there are generally two ways to learn anything; either through our own trial and error (which can take forever), or alternatively through the experiences of other people. One of the best ways to accelerate our financial progress is to learn from others what has worked…but also learn from others what mistakes and setbacks to avoid where possible in order to set ourselves up for success.

In the video below, we cover some of the biggest financial mistakes that typically hold people back from financial success, and importantly what you can do to avoid the same mistakes.

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How to Save Money (and why Budgeting doesn’t work)

Have you ever tried to budget before? How did that work out for you? If you are like the majority of people…probably not too well. Traditional budgeting is not exciting, it’s not motivating, and it doesn’t work (for most people). This video takes you through the steps on how to use “Bottom-Up budgeting” to easily & simply take control of your cash flow and start ‘paying yourself first’…while still living a good lifestyle along the way.

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Where should you invest your money?

Where should you invest your money to build wealth and create longer term Financial Freedom? There’s an absolute overload of information on what to invest in and how to build wealth for the future. Everyone has an opinion…and many times those opinions are conflicting. Due to the overwhelm of information (and ‘noise’) many people stay stuck and do nothing.

My latest video (above) attempts to cut through the ‘noise’, and covers the 5 key investments most people should focus on to build long term wealth, and set you up for success.

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How much is enough…really?

For the record I’m not a big believer in the whole concept of ‘retirement’. Many clients see the idea of future retirement as an unproductive and inactive time…and this doesn’t appeal to them at all. A number of people these days plan to never retire. And if this is you then hats off to you. By all means keep working for the purpose, contribution and social interaction…but at least aim to reach the point where you have built enough wealth that you don’t have to work for the money any more. It’s about having freedom to choose. Creating Financial Freedom is the aim of the game…not retirement.

But how much is enough?…well it depends. It depends on your future lifestyle goals…and it depends on who you ask.

The above video attempts to answer the reality of just ‘How much is enough…Really’.

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