Earlier this week I had a bit of brain storm. With RRSP season over and spring just around the corner (yes I know this winter has been BRUTAL but the bone chilling cold and mountains of snow can’t last forever), I started looking for a new product line to hone in on. Most people in the financial planning business choose to focus on either insurance or investments and treat the other side of things as an add-on. But after a few days toying with different ideas what I ended up settling on was not just a new product focus but a whole new way, for me at least, of looking at financial planning writ large. This is approach isn’t about a specific product, or type of product like RRSPs or Life Insurance, it’s a whole new way of building wealth from the ground up which can be customized to apply to anyone, in any circumstance regardless of whether you are deeply in debt, just starting out or an established business owner with substantial net-worth and positive cash flow.
I call it The Six Steps to Financial Freedom and yesterday I sketched it on a yellow pad, it looks like this;
You can click on the image and make it bigger but most of you won’t, that’s okay…
Over the next several weeks I will focus on each aspect of this plan in order and write about them. Starting at the bottom and moving up through the steps. Whenever I come across an interesting article on the subject I’ll re-tweet it with the corresponding hashtag as well. Here are the steps again with their hastags.
Step 1 – Dominate Debt (#dominatedebt)
Step 2 – Regulate Risk (#regulaterisk)
Step 3 – Rule Retirement (#ruleretirement)
Step 4 – Engineer Education (#engineereducation)
Step 4b – Steer Succession – for business owners only (#steersuccession)
Step 5 – Take Control of Taxation (#controltaxation)
Step 6 – Leave a Legacy (#leavealegacy)
It is my hope that through this process you will start to see Financial Planning in a different light and perhaps get excited about the process. I’m here to help – for more information and to get started on your customized plan write to; firstname.lastname@example.org