1. 7 Steps to Ultimate Financial Freedom Martin Dodd “ Get this right and you may need the help of a financial planner !”
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4. Step 1 Start your business with the end game in mind Approximately 1% of people become millionaires another 3% achieve financial security by the time they retire A further 11% achieve some sort savings & security The rest can be described as flat dead broke, reliant on state aid and charitable hand outs Deciding where you want to be is the first step in success
5. Step 2 To expect financial gain you must first give financial benefit to your customer Have you ever had sales people call and you just felt that they were selling something for their financial gain only. Be sure your business offering not just adds value, but more importantly solves a PROBLEM
6. Step 3 Save no less that 10% of your income The key to achieving financial freedom is not just to save but to save at the right time. If you save at the end of the month most people have no money left regardless of how much they are making Save as soon as you pay yourself. If you need to, see saving as expense item, just like the mortgage
7. Step 4 Take advice from experts Too often people follow their GUT instinct and don't take expert advice GUT stands for GIVEN UP THINKING Expert advice may cost you money but it may save you a fortune in the long run. If you think education is expensive, consider how expensive ignorance could be
8. Step 5 Do not create a business or invest in anything you do not understand Too often people jump on the band wagon and follow the crowd and do not actually understand what they are doing. Warren Buffett – one of the richest men alive, let the dot com boom pass him by as he did not understand it. What a great decision he made
9. Step 6 Set yourself goals & hold yourself to account Being accountable makes sure your do not procrastinate. We've all done it – I call it FTI FAILURE TO IMPLEMENT Get someone to hold you to account – in the nicest possible way. It will keep you moving forward
10. Step 7 Take small steps every day Whether you are dreaming big or small sometimes the task seems huge. Take action every day even if its a small step. Also do the jobs you hate each day FIRST. The rest of the day will then only get better
12. What makes a great Financial Planner A person who understands your problems better than you do Is that the kind of person you want on your team?
Editor's Notes
1% millionaires 3% financial independence 11% some savings 85% flat dead broke and reliant on state hand outs and charity
How many times have you felt that someone is selling to you just for there gain To succeed you need to be able to prove to someone you can solve a problem – not give them a benefit
Most people get this horribly wrong and I was one of them How many people run out of salary before they run out of month The golden key is save before you spend
GUT Given Up thinking
To often people start a business or invest in a venture without full understanding This is the quickest way to lose what you already have Warren buffett B2L
FTI Failure to Implement Procrastination Football Coronation
Some times the end goal is just to big Nothing wrong with thinking big Set small targets Jobs list