“A Wealth Plan That REALLY Works!” – Part I

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"A Wealth Plan That REALLY Works!"
by Jeanna Gabellini

The question people ask me most often is, "How do I do a plan for getting out of the race or expanding my wealth?"  My answer is, "Make one up."  Then, I feel the confusion creeping into their mind.

"What do you mean make one up?  How?  I don't know where to start.  I'm overwhelmed.  I need help." or "I'm doing well for myself already.  I don't need a plan.  I'm following a plan already."

So, below is the way I have my clients design a plan that will get them from point A (their current cash flow patterns) to Point B (the tangible and intangible desires they hold at arms length).  Even if you bring in a 6 digit income, a plan is CRITICAL.  I've outlined rules, explanations, obstacles and inquiries.

Rules

1.     Start with a visioning process.
2.     It must include a separate plan for security, comfort and wealth (as explained in Robert Kioysaki's, "Rich Dad's Guide To Investing.")
3.     Each plan must support and align with the plan for wealth.
4.     Each plan must align with your personal values, regardless of the way other wealthy folks have created assets.
5.     The process of designing the plan and carrying it out must be fulfilling and light (I did not say casual).
6.     Get feedback on your plan by someone other than your spouse or business partner. Somebody who is qualified.
7.     Stick to the plan.

Stay tuned for the "how-to's"  for each rule.

A Wealth Plan that Really Works Part 2

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