Below you will find the Five Levels of a true wealth explosion. While you may be tempted to skip a level in order to get to the “fun” parts, I would urge you avoid that enticement. From my experience, I can tell you that the reason most people fail to achieve economic independence and security in their lives is because they give in to the attraction to walk before they can crawl. You and your family deserve a financial plan that will last a lifetime. Don’t accept shortcuts when it comes to your family’s economic future.
As you read through each level, you will find references and strategies that you can put into practice immediately.
If you have a philosophical disagreement with any of the ideas that I present, you can obviously ignore my strategies and move on to the next part.
By the time you get to the end of Level One, you will be financially ahead of most of your friends and family. And by the time you complete Level Two and Three, you will be more financially prepared than almost 99% of America.
In Level One, your goals are to:
- Create a Charitable Giving Plan – Similar to a financial plan, only estimating a goal of how much money you want to give away over your lifetime
- Create a “72” Bag – A 72-hour emergency kit containing all of life’s essentials for at least three full days, in case of a home fire, wicked weather, or other disaster
- Create 3 Months of Food and Water Supplies – You need enough food and water to for your household to last three months
- Begin a Systematic Savings Plan – Your ultimate goal is to save at least 15% of your income each month. But begin where you can
- Build Two Months of Savings – Based upon your current gross monthly income
In Level Two, your goals are to obtain adequate:
- Asset Protection – Examine your auto, home, and liability insurance
- Income Protection – Examine your disability, health, and long-term care insurance
- Life Protection – Examine your life insurance, wills, and trusts
In Level Three, your goals are to:
- Increase Food and Water Supply – Build a total of six months food and water supply
- Increase Emergency Savings – Build a total of six months gross income saved
- Diversify Six Months Liquid Savings – Example: 1/3 in U.S. Dollars, 1/3 in Stable Foreign Currencies, 1/3 in Precious Metals
In Level Four, your goals are to:
- Invest Broadly Across Various Asset Classes – Keeping a mix of asset classes is the key to diversification
- Remember P.A.C.E. for Inflation Protection – P = Precious Metals, AC = Agricultural Commodities, E = Energy
- Create Balance in Multiple Area – Because the “rules of the game” can change at any time
- Trade Cash for Cash Flow When Possible – Oftentimes, opting for cash flow instead of lump sums of cash makes more financial sense
- Create Multiple Streams of Income – In order to achieve financial freedom, income diversification is vital
In Level Five, your goals are to advance into:
- Opening or Expanding Your Own Business
- Stock/Option Trading Strategies
- Internet/Affiliate Marketing
- Venture Capital
- Real Estate Strategies
It is important to build your financial plan by first laying a solid foundation. Most people approach financial planning backwards. I believe that the above model that we have created emphasizes the proper order for which a financial plan should be constructed. There are a total of at least 22 income streams when you narrow the scope down properly. Stay connected to see how this works!
As you see from the list above, you will definitely have your work cut out for you. But if I can design it, that means you can too!