Reaching self-sufficiency and financial freedom is the result of meeting your financial goals, which we like to discuss using our I.L.W.E.™, or Income, Lifestyle, Wealth and Equity™ assessment.
Our Income, Lifestyle, Wealth and Equity™ assessment makes goal-setting easier, and it can help clarify the best route to bring you from where you are now to your ideal financial future.
An unfair or disproportionate salary is a pain point for many who choose to transition out of their career, so income growth tends to be a popular short-term goal. When your income grows, your bank accounts grow, and you feel less stressed about taking care of obligations like bills, home maintenance, etc.
If you’re tired of spending more of your life working than doing the things you love with the people you love, your lifestyle might be your top priority. Whether you want to splurge on a Caribbean cruise, finally buy your dream car, or have time to pursue your hobby, Lifestyle is a goal focused on quality of life and work-life balance.
Wealth is the long-term goal that follows an increase in income. It’s about maximizing your income by pursuing diverse investments and wealth-building activities. Those focusing on wealth are thinking about building their assets and savings for the more distant future, and ensuring their income continues to grow.
In many ways, equity is a distribution of your wealth across a variety of assets like land, a house, or a business. Equity represents the value of your assets after all outstanding debts associated with those assets have been paid off. This is a long-term goal that requires making use of your wealth and income to grow equity through debt reduction.
Next, discover the entrepreneurial ways to reach to your destination.
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