In today’s episode, I will discuss the Wealth Pyramid. The Wealth Pyramid provides a great example to build a solid foundation for a well-structured wealth plan. This Wealth Pyramid is something that anyone can structure for themselves regardless of income level and net worth. So many people do not build their wealth pyramid with a solid foundation and risk all of their capital because of this. We look at the concepts of saving, investing and much more. Bestselfco.
, Make Success a Habit! Use the Self Journal to organize and align tactical day to day tasks with larger life goals. Key Take Aways:
- The bottom of the pyramid and first foundational piece is of the wealth pyramid is your health, relationships, your mindset and your soul purpose and human life value which includes your skill sets and special gifts.
- The second layer is your conservative layer that includes a dashboard for your financial information, your credit score and strategies to improve your credit score, flexible spending plan, wealth capture strategies to capture your wealth and save 6 months to 2 years of income in liquid savings, protective strategies like life insurance, car insurance, home owners insurance, estate planning, tax planning and emergency preparedness strategies like food, water and other needs as well as cash on hand and precious metals
- The third layer consist out of moderate strategies that include businesses that you control, conservative real estate investments, conservative paper assets like certain bonds, and more precious metals
- The fourth and final layer at the top of the pyramid is the growth portion of your plan. If you have the first three layers in order, this layer allows you to swing for the fences in business, real estate, commodities and paper assets. This should be the money that you could afford to lose.
“Someone is sitting in the shade today because someone planted a tree a long time ago.” - Warren Buffet Recommended Book: Financial Independence in the 21st Century by Dwayne Burnell and Suzanne Burnell Recommended Resources: Rich Dad Cashflow Board Game
, this game will help you learn how investments effect your personal financial statements and what are assets and what are liabilities! Show Sponsors: Audible
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