The Six Stages of Wealth Creation

The Six Stages of Wealth Creation
How to identify the right next step for you right now
Created by Matt Hern CFP® www.MattHern.com

“I know I should be doingmore with my moneybutI’m just not sureof the right thing to do”

6. Freedom
5. Competence
4. Confidence
3. Options
2. Security
1. Survival

“I’m drowning in debt”
“I can’t save a cent”
1
No savings
Vanishing cash
Unpaid credit card balances each month
Spiralling debts
Survival

“I never seem to beable to get ahead”
2
Repay credit card in full every month
Minimum loan repayments only
Monthly savings eroded by the ‘unexpected’
Irregular bills ‘blow the budget’
Security

“I feel I shouldbe doing more”
3
Make some additional loan repayments
Consistently save for annual lifestyle goals
Rarely save for longer term lifestyle goals
Don’t invest enough or purposefully
Options

“I want choice so Idon’t need to workmy whole life”
4
Repaying all debts fast
Saving plans for all important lifestyle goals
On track to retire by age 65 on your terms
Have adequate personal insurance
Understand mainstream investment types
Confidence

The Active Investor
“How can I leveragemy financial knowledge?”
5
Masterful understanding of mainstream investments
Uses financial leverage wisely
On track to be able to retire early
Competence

The Creator
“Where’s mynext opportunity?”
6
Already financially independent
Can cover all lifestyle expenses from passive income
Freedom

6. Freedom
5. Competence
4. Confidence
3. Options
2. Security
1. Survival

6. Distribute
5. Accumulate Faster
4. Leverage
3. Plan
2. Save More
1. Get Control

The Six Stages of Wealth Creation
Download a summary from
www.MattHern.com/six

About me, Matt Hern
When you want to take purposeful action to ensure you have enough money for what matters most to you in life I guide you on the right financial choices to achieve it.
I am a Certified Financial Planner® professionalwith over 10 years experience.
From my base in magnificent Perth, Western Australia I advise clients across Australia andeducate across the world.
For more resources to help you make smart financial choices about what is right for you right nowvisit www.MattHern.com

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The Six Stages of Wealth Creation

by Empowered Wealth Pty Ltd on Jan 18, 2011

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The Six Stages of Wealth Creation — Webinar Transcript