Pillar 1: Debt Elimination Flashcards
How long does it take to eliminate debt?
9 years or less to achieve financial freedom and create generational wealth.
How many Americans live paycheck to paycheck?
62% of Americans live paycheck to paycheck.
What are the results of debt?
Debt is #1 reason for divorce, is associated with domestic violence, and may lead to substance abuse and mental health issues.
What is the Baby Boomer financial climate at retirement?
Baby Boomers are retiring right now with over $200,000 in debt and less than $60,000 in savings. The cost of Long Term Care exceeds well over $60,000.
What is the #1 hurdle to achieve retirement?
Debt is the #1 why a person can’t retire when and where they want to retire.
What is an American’s total assets at 65?
By the age 65 the average American has made close to $2 million in their life time and has only saved $60,000. This statistic has not changed for over 30 years.
Benefits of Financial Planning?
Our holistic approach to financial planning will help to decrease your yearly tax responsibilities to free assets to save or invest, help save for college for your children’s future, retire with tax-favored income ( a tax reduction on your income), and provide you multiple revenue streams through your investments.
What do most people rely on in a financial crisis?
Credit cards. Our holistic approach will help you be prepared for the unexpected and eliminate the need to rely on a credit card in a financial crisis. This will prevent the crushing negative loop of compounding interest from using a credit card.
What are the financial risks?
Our goal is to eliminate financial risks that occur in the stock market, unexpected tax increases, lawsuits, disability, fraud, or outliving your money.
How do we want to empower our client?
We want you to understand where you money is going and why, leverage your money to maximize your earning potential, and have control of your money to use it to overcome any unexpected event or risk that may occur in life.
What is the strategy to become debt free in 9 years?
We want to help you to come up with a plan to spend your money efficiently, reduce the taxes that you pay so may retire with tax-favored income, reduce the interest you pay your lenders, and leverage your assets to generate more money making streams.
What is our financial planning approach?
We are not a debt consolidation program company and we are not asking you to eat beans and rice everyday and cut up all your credit cards. We teach you how to develop a full proof strategy to become debt free, reduce your interest payment to lenders, and help you build financial wealth that is tax-free liquidity.
