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Are you one of those people who live day-to-day, hoping that someday you'll be out of debt and able to save? When you think about retirement, do you just figure that some how it will all work out in your favor?
If you want to simply get by financially, this "method" may work for you (or it may not!) But if you've ever seriously dreamed of being wealthy and are willing to do what it takes to make that happen, you've got to take some action today.
As a millionaire myself, and as one who trains people to be millionaires, there's one thing I know for sure: millionaires always have a plan. They determine their financial goals and take action to make them happen. You'll never find millionaires sitting around crossing their fingers. They don't wait for their wealth, they create it.
One of the first steps I use in making my clients millionaires includes creating what I call a Financial Freedom Day. Your Financial Freedom Day is the day when you've reached your financial goals. To define yours, you need to first have a vision.
What's in your future?
Your vision is your ultimate picture of how you want to be living sometime in the not-to-distant future. .
People who lack a clear vision are like ships without rudders: they sail aimlessly and without a final destination. They may head toward opportunities that appear on the horizon, but then veer off course, unable to reach them.
In order to keep you motivated, your vision must include three elements. It should:
1. be exciting enough to fuel your energies.
2. be realistic enough to be doable.
3. never compromise your values.
Most importantly, you need to exercise what I call No Limit Thinking. To practice No Limit Thinking, you have to imagine what your life would look like if it were impossible to fail.
Declaring Financial Freedom Day
Your financial freedom day is your vision defined as a measurable goal. This allows you to map out a strategic plan that will get you there. There are three things you need to decide in order to declare your Financial Freedom Day:
1. Your monthly cash flow
2. Your total net worth (real estate, stocks, oil, and other investments)
3. The specific day, month, and year that you want this to occur
I know very well that if you start writing down numbers, they can get a bit discouraging. It's one thing to say that you'd like to have a net worth of $3 million and a cash flow of $30,000 a month by the time you're 50 years old. But if you're 40 years old, currently making $35,000 and are $20,000 in consumer debt, it may seem impossible. But I assure you, it's anything but.
There's a gap between where you are and where you want to be. While not insurmountable, here's the five things you need to define and plan (I review these in detail in my book, The Millionaire Maker):
1. Your Financial Baseline (where you are)
2. Your Freedom Day goals (where you're going)
3. Wealth Cycle™ Activities (how you'll get there)
4. Leadership of your Team (people who will help)
5. Financial (mental/emotional) conditioning (why it will work)
At this early stage, take baby steps. This is where a wealth coach or other mentor can guide you.
Getting from here to there is what my proprietary Wealth Cycle™ process is all about. And I assure you - no matter how far away you may be from your Financial Freedom Day, with commitment, patience, and the right guidance, by using my Wealth Cycle™, you really can become a millionaire. The key is to view every hurdle as an opportunity to learn a new lesson and make a better choice.
Wealth building is possible for anyone who learns and uses the right skills at the right time. Loral Langemeier literally creates millionaires, and she does it using a well-honed and tested system that anyone can learn. Creating sustainable wealth does not need to remain a mystery! Order your copy of Loral Langemeier’s book, The Millionaire Maker, today: http://www.themillionairemakerbook.com
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