My Plan To Be Wealthy 

Success in any area of life starts with having a very clear vision of where you are going. If you do not know exactly where you are going, it is difficult to assemble what you need to get there. Similarly to achieve financial freedom you need to clearly understand where you are going and what you need to get there.

Smart Financial Vision:

To develop a smart financial vision you need to understand the following concepts: financial freedom, assets and liabilities, active and passive income time value of money, four income squares, four wealth quadrants, the connection between savings and wealth?

If you have a clear vision of where you are going with your finances, through your financial vision, the next step is to develop your resource plan. As human beings our desires are limitless. Unfortunately the resources we have to satisfy the desires are limited. It is therefore critical that we learn how to make smart choices from our limitless desires and allocate our limited resources smartly in order to satisfy the most important desires in our lives. This is what planning  is all about.  

Smart Resource Planning:

The three most important resources you need to be smart about are  your time, your savings and your skill.

 

Your Time

The good news is that we all have the same amount of time.

Every human being has 24 hours in a day. We cannot store it, we cannot stretch it. At the end of the day it is all gone and we start the next day with a new supply of 24 hours for everybody. Yet some people are able to use their 24 hours to build wealth while others use their 24 hours to build debt. Speaking of planning your time, did you know that reserving just 2 hours a day which you dedicate towards efforts to be financially free is equivalent to 25% of normal working hours.  This translates to 3 months in a year which in turn translates to 1 whole year in 4 years which you have dedicated to attaining financial freedom.

 

Your Savings 

The bad news is that we do not all have the same amount of money. However the little savings you have if managed properly can make unimaginable difference. If you understand the tremendous power of compound growth of money you will build tremendous wealth in your life time using only your present income. If you are not able to save money we can show you how to start saving money no matter your current income level and commitments.

 

Your Skill  

Your skill determines how valuable your time is. Given the same amount of time, a person with skills as a real estate investor will probably build more wealth than a person whose only skills are as a college professor or  office assistant all other things being equal.

 

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Berry Davis Smart Resources:

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