90-Day Money Reset, Step 5: What's your financial freedom number?
Welcome to the 90-Day Money Reset! Over the next 30 days, I'm going to walk you through 9 simple steps to help you clear the overwhelm, get clarity on your finances, and finally put a plan in place that works. This post covers Step 1 and if you'd like to receive each next step directly in your inbox as we go, just click here to join the challenge and I'll guide you through the rest of the reset, one step at a time.
Everyone talks about financial freedom...
But very few people sit down and calculate it. So how do you know what to work towards?
Step 5: Calculate your financial freedom number
Take your monthly spending from challenge 2 (excluding mortgage, savings and investing allocation)
Multiply it by 300
That’s what you’ll need to be financially free in retirement over a 30 year retirement period (with reasonable certainty that you won’t run out of money)
Then: How much do you already have in your pension or retirement fund?
What's the gap between your financial freedom number and what you already have in your retirement fund?
This makes it very real...I want this to be the motivation to get disciplined about building your plan towards financial freedom. If the number scares you, just know it’s far better to find out now than later!
Pause here for a second:
What have you adjusted in your 3 buckets since starting the challenge?
How much are you adding to your retirement fund currently and how much are you planning to adjust this over the next 90 days?
This is a very simple way to calculate your retirement number. Inside Your Money Gameplan, I unpack this in much more detail and we turn this into a real roadmap, so you can get there.
Here's a look at what get once you're inside:
Course and calculator overview video - Watch Video
Take a look inside Your Money Gameplan
I’ve helped people from all walks of life (even those who thought they had it figured out), get their plan on the right track by building this system for themselves.
By now you already know that if you complete Your Money Gameplan before 28 May, you can ask me your questions live in the Q&A.
Build Your Money Gameplan here
P.S. Here's what others say about Your Money Gameplan:
⭐⭐⭐⭐⭐ "It is an essential learning experience regarding finances and I cannot recommend it enough as apart from the knowledge aspect you will walk-away with the right tools and confidence in your personal financial journey as an individual or couple. " - Adel Hallaby
⭐⭐⭐⭐⭐ "You’re going to wish you did it sooner! So insightful and helpful. Amazing! Worth every cent. It’s really great that my husband and I could receive all this information and help on one platform and that there is accountability for us afterwards. It gives me a sense of security whereas in the past I would’ve found it very daunting." - Lauren Fick
Step 6, coming soon.
Carla