Jan 27, 2021
Quote of the Day
A journey of a thousand miles begins with one step
…Lao Tzu
Upcoming Podcasts & Events
Webinar w Scott Estill
-former IRS Senior Trial Attorney
-webinar to over 500 people
-How to Plan for Tax Increases in 2022
-What’s included in the December 2020 stimulus
Bill
-Tax Reduction Strategies for 2021
*remember there is a difference between planning and
tax prep
Webinar w Mike Coval
-Investor Strategies for Any Market
-Mike is author of “A Trader on Wall Street” with
decades of experience
-Stocks, Options, Futures or Commodities
-How to Eliminate 95% of all Risk in your trading
-How to Create Consistent Income Monthly with
Covered Calls
-Trades that only take a Few Minutes each day or
week
Asset Protection & Wealth Creation Summit
-Mastermind Community Members (free of course) get 2 VIP
Tickets
-Don Pendleton and Kendal Blunck….longest running
financial edu co.
-3 days of topics covering…asset, tax,
estate, real estate, grants, stock
-additional topics like IRAs, Residential
Assisted Living, and more
-Literally the top Experts in the World in one
place
Today’s Thought
Creating a Stable Foundation of Financial
Security and Wealth is KEY
This is a great one, because i need this thought
as much as each of you do. I’ve made a whole lot of money in
my life.
I’ve looked back and it almost kills me how much money
I have “spent” vs “invested” in my life.
But the journey of a thousand miles begins with a
single step and I have been focusing on taking the necessary steps
to hit some HUGE targets over the last couple
years.
Like you, I’ve spent money on things that impress
others and create short term happiness. I’ve enjoyed the big
houses, cars, travel, custom suits watches and tons and tons of fun
things that money can buy.
But when it is all said and done, it is important to
remember that financial security, fulfillment and happiness (in my
opinion) will always be tied to your ability to provide for you and
your family and also create impact and impact (again in my opinion)
is a whole lot easier with wealth that without
it.
So many problems in this world
revolve around money, so it’s time you really doubled down on
what you want to accomplish…YOU
So I want you to think about a couple key
things…
Are you seeking Income or Net Worth (true
wealth)
-income is right now…net worth is long
term
What is financial security for you….?
What are your numbers?
1-Financial Security- safety net of 6-12 months
income/emergency
2-Financial Independence-
replace your job with investments/self security
3-Financial Freedom- lifestyle from your
investments/cash to retire
My mentors have always taught me that the key to
success financially is to have a couple of core
values:
-Gameplan
-Scorecard
-Accountibility
-Progress Daily/Weekly
*progress is the key…(like life) its not about
the end goal each day.
Do not overestimate what you can do in the short
term
….and Do not underestimate what you can do long term
Like the quote today...you MUST create a plan and start
to execute becausesuccess comes over timebut only happens
withaction in the moment.
So here are some simple strategies to get you going
today:
-set up auto deducts in your bank account weekly
-set up separate savings and tax accounts
-pay yourself first
-create a budget…mint (free easy tools)
-set up triggers and reminders
-find ways to isolate “no touchy money”
-find a financial mentor
-associate with like minded people
-learn to look at everything as “investment
or expense”
-train your mind to focus on and seek what you
desire
-daily reminders
*Remember, that it is important to create a plan
but also to stick to a plan…which means that it is important to
determine what fits inside your UT and also inside your area of
interest. Don’t just chase the cheddar…money.
It is my hope that you will begin to prioritize
and work with what will take you closer to your goals through
financial planning and discipline.
Thanks for listening
George Wright III