107. Build Financial Confidence and Live a Life of Choice

Host Liam Leonard thanks you for joining him and guest Tracey Sofra on the Prosperity Perspective Podcast. Tracey is an entrepreneur who has been in the business for over 27 years and understands the importance of making your business work for YOU. She is also a certified practicing accountant and financial planner and believes both backgrounds are needed to coach others properly about long-term financial security. Today, Tracey outlines how she achieved financial security for herself and her family. She details the importance of diversifying your assets always, both in and outside of your business. Gain an appreciation for the freedom entrepreneurship gives to be creative and try new things without having to “consult the board.” She offers her biggest pieces of advice to entrepreneurs just reaching a point of profitability: always take imperfect action and to don’t be afraid to take risks when you know your boundaries and are ready to push them a little!3 Key TakeawaysHow Tracey changed her life by deviating from her financial blueprint: the spending narrative you grow up with in your home (and how you can, too). Always diversify your assets with different investments including real estate, stocks, and mutual funds. Don't put all your eggs in one basket by relying on just your business for income and retirement.Be realistic when estimating the value of your business. Many factors, such as the current economic climate and your industry, can affect the sale price. ResourcesTracey’s WebsiteWOW Women WebsiteBuilding Financial Confidence Facebook GroupTake the Financial Confidence QuizAbout TraceyTracey Sofra is Australia’s leading Financial Advisor specializing in Women’s Financial Confidence.With over 30 years’ experience as a business leader, wealth mentor, award-winning financial advisor, author of Finding Financial Freedom, and keynote speaker, Tracey has shared her proven method for shifting mindsets and the limits to financial success for thousands of women across Australia. Tracey is dedicated to Investing in women's empowerment.As the founder and CEO of WOW Women, Tracey leads a community of like-minded business, professional, and entrepreneurial women, working collectively to create change in their own financial lives and the lives of other women across the globe as part of a greater social impact across the UN Sustainability Goals.