Why Knowing Your Financial Numbers is Vital to Your Future
from Building Your Money Machine Hosted by Mel H Abraham, CPA, CVA, ASA
If you're looking to build a secure financial future, then you need to know your numbers. I'm not talking about just your bank account balance or your credit score; I'm talking about your entire financial picture. Your net worth, your retirement savings, your investment portfolio - all of these numbers matter. The road to financial freedom actually has four milestones along the way to make sure you are on path. And when navigating to financial freedom, everyone must pass through these milestones. Do you know where you are? The other thing to realize is that our retirement system is broken, and this episode shows you why and what you need to do instead to take control of your financial destiny for good. That’s why in this episode, I’m going to show you why understanding your financial numbers is vital, how to calculate them, and how you can use them to create a plan for your future. But it's not all about numbers and statistics. I'll also discuss the common pitfalls of the current retirement system and the pathway to financial liberation. By the end of this episode, you'll have the tools and knowledge to take control of your financial future and work towards the retirement of your dreams. So, don't wait any longer - take control of your finances today! IN TODAY’S EPISODE, I DISCUSS: The path to true financial freedom Why our retirement system is broken and what you need to do about it Understanding your number and why it matters The stopping points on the journey to financial freedom RECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones: Capturing the Affluence Vision For Your Life Making a Lot of Money Doesn't Guarantee Wealth The Steps to Financial Freedom Why Financial Freedom Needs to be a MUST For You TAKE THE FINANCIAL FREEDOM QUIZ: Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com OTHER RESOURCES: The Basic Affluence Number Calculator: https://www.melabraham.com/number 7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/ CONNECT WITH ME: Website: MelAbraham.com YouTube: MelAbraham.com/tube/ Instagram (@melabraham9): MelAbraham.com/ig/ Facebook Group: MelAbraham.com/group/ TikTok: https://www.tiktok.com/@melhabraham GET MY BOOK: “The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/
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What this episode covers
If you're looking to build a secure financial future, then you need to know your numbers. I'm not talking about just your bank account balance or your credit score; I'm talking about your entire financial picture. Your net worth, your retirement savings, your investment portfolio - all of these numbers matter. The road to financial freedom actually has four milestones along the way to make sure you are on path. And when navigating to financial freedom, everyone must pass through these m...
Chapters
- 0:00 Introduction
- 5:34 First stopping point: financial stability
- 6:50 Second stopping point: financial security
- 8:17 Third stopping point: financial independence
- 9:11 Fourth stopping point: financial freedom
- 10:09 True Independence: The Goal of Financial Planning
- 11:12 Industrial age mindset
- 19:41 Example calculation
- 22:32 How much are you going to save every year between now and retirement?
- 25:40 The Basic Affluence Number Calculator
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