Now it’s time to start wealth building. In this course we will start building structure and setting in motion the components that will make up your wealth.

Your foundation is set, now we the wealth structures.

Lifestyle planning = Wealth planning.

While budgets are discussed universally, they are not wealth plans. Budgets only work with the dollars currently possessed. Not new income nor planning for it. Therefore, budgets are only tactical. Wealth/ Lifestyle planning is strategic. It is the structure you put in place for how you plan to live your life along with all the items it shall include.

Define the things that will compose your desired lifestyle and the things you want. In author: MJ DeMarco’s book, “The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime”, he provides a great lifestyle plan to reach wealth. Herein is the basic concept:

“List the things that will compose your lifestyle. Example: a 5,000 square foot house with a four-car garage. Another house in the Caribbean. Two cars and two luxury SUV’s, vacations quarterly. Private schooling for the children. Include all associated expenses; taxes, utilities, maintenance, insurance, etc.

Include monthly allowance and other unknowns. This is for stuff like clothes, gadgets, toys for the children, entertainment, etc.

Add costs to all items.

Use the form link to help determine the Net Living Cost, the Money System Target, and Business System Targets.

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“Net Living Cost: your net monthly living costs. This includes taxes.

Business system income target: your business derived gross income to cover lifestyle, funding your money system and taxes.

Money system target: this number equates to your retirement number. The amount of money needed to retire with and live on for the rest of your life.

This is a multi-faceted plan which builds a passive income business stream that funds a money system from a business and sells a business in the future which provide a lump sum of money to retire with or move on the Private Equity deals. Live your lifestyle sooner. Experience retirement without being retired. Liquidate the business asset later to fund the money-system and hit my retirement number. If your business system generates passive income, you can use it to fund your lifestyle and your money system simultaneously.”