18. Goals LifeTime Goals 1) Relationship with God – obey Him 2 )Relationship with people – serve them 3) Health - Stay fit healthy & intellectually sharp 4) Wealth – Attain Financial Freedom Annual Goals Semi-annual goals Quarterly goals Monthly goals Weekly goals Daily goals Examples on Personal Blog: mohnysingh.wordpress.com
19. I am a Financial Architect helping people create, designand build their financial houseon abedrock foundation with tax efficient walls and a debt free roof through a unique process Called “24Ten290Three” leading them to Financial Security , Financial Independence and Financial Freedom.Most people are trying to build their financial house without a vision, a design and a step by step process to guide them. Are you One of Them ?My role begins by helping createthat vision and then over timethe financial house is built according to the design.Then and only then, can there be an immediate assurance of Financial Securityand a future hope for Financial Freedom. Do you have such an Assurance ?
20. The “24Ten290Three” process Pronounced “ Twenty, Four, Two Ninety, Three” Twenty = 20% of Assets or Income Four = The 4 phases – bedrock foundation->insurance & emergency fund – tax efficient walls –> tax planning – debt free roof –> debt elimination – financial freedom –> networth of $1m+ towards $10m+ Ten = The10Steps2FinancialFreedom Two Ninety = 2 hour meeting every 90 days privately or in groups Three = 3 Universal Dangers – running out of time – running out of health – running out of money 3 Objectives – Financial Security – Financial Independence – Financial Freedom
21. The10Steps2FinancialFreedom™ Step 1: Give away first 10% of income (first 90 days and rest of life) Step 2: Insure minimally for Life, Disability,CI & LTC (next 90 days) Step 3: Mini Emergency Fund of $1,000 in a TFSA (next 90 days) Step 4: Debt SnowBall - pay off all debt except mortgage (next 2 to 5 years ) Step 5: Max out Emergency Fund to 6 months needs (next 2 to 5 years ) Step 6: Max out Insurance for Life, DI, CI and LTC (next 90 days) Step 7: Max out RRSPs & RESPs(next 12 months and annually thereafter) Step 8: Pay off the mortgage (next 5 years) Step 9: Invest, Invest, Invest up to $1m+ ,then+ $10m+(rest of life) Step 10: Give, Give, Give (rest of life)
22. Action Steps …next 90days 1) Give away first 10% of income immediately and for the rest of your life. To the local church if you are a Christian 2) Memorize The10Steps2FinancialFreedom 3) Think about and write out your lifetime goals. Then write out the daily, weekly, monthly,quarterly, semi-annual and annual acitivity goals that will help you reach your lifetime goal. Example at : mohnysingh.wordpress.com 4) Use Budget Worksheets for next 3 months 5) Use Cash envelopes for next 3 months 6) Read one chapter of “The Purpose Driven Life” by Rick Warren. Only 40 chapters. Repeat every 40 days.
23. The Goal setting Question If I (we) were having this discussion (time frame) from today on (end of timeframe date), looking back over that (timeframe…day, week, etc) to today what must have happened in my (our) life for me(us) to feel happy with my (our) progress.
