Building Solid Financial Foundation
Imagine building your dream house on a loose and weak foundation. What would you expect will happen if an earthquake would shake it up? Could it withstand the shaking? Will it stay erect? The answer is definitely a resounding NO! Same way with planning and executing a solid financial strategy. It must be founded on solid rock. Our financial strategies must be able to cover the possibilities or the IF of LIFE. The first IF: What if I die too soon and the other IF: What if I live too long?
There are three (3) financial planning concepts that we learned. These concepts enabled us to come up with a strong and stable financial plan that can withstand any possibilities that life can offer. These are: Building Solid Financial Foundation, X-Curve Concept, and Pay Yourself First. Concepts we learned from International Marketing Group. Building Solid Foundation tells us what to prioritize in our investment allocations. X-Curve on the other hand is a planning tool to make sure we cover all possibilities in life. Last but certainly not the least, the concept of Pay Yourself First, which is the most important concept we learned that allows us to have cash flow to fund our solid financial foundation and plan. This certainly changed the way we handle our finances and this led us to become financially free.
We will share the first concept of building a solid financial foundation in the next blog....
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