WHAT IS YOUR WEALTH CURVE?
- Rich is define as a Choice to do what you want; as you have enough passive income receivable
- Freedom is define as man@work is over
- Independence is define as – your intention is to preserve so that you can have a better lifestyle
- Comfortable is define as Man@Work and income is slightly more then enough each month
- Survival its define as – month to month survival
- Debt is define as you are spending higher then your income – Beginning of TROUBLE
4 PILLARS THAT YOU NEED TO MANAGE
- INCOME: ensure that your income is always higher then your expenses
- EXPENSES: ensure that your expenses is always lower then income
- Settle only what you need each month and divert more to investments & savings
- ASSETS: Ensuring that your assets that you are purchasing increases higher then inflation and cost of living
- LIABILITIES: Eliminate all liabilities as fast as possible; and divert to good debts
Manage the 4 Pillars and live a comfortable life; remember the only person that is going to take of the older person that someday you will be is the younger you.
START PLANNING your wealth curve and move up the curve!!
Article by: Ashok – Strategic Coach & Mentor for MDRT/COT/TOT