Financial Freedom Number Crunching

Hello avid learners!

Some SHOCKING numbers for you in today’s Blog. Let’s get RIGHT to it, there is literally NO time to waste!

Take your current AGE multiply it by 10,000.
That is what you would need in the BANK or INVESTMENTS TODAY in order to be ON TRACK for an approximate $40,000 a year retirement income. (Investment ROI is approx 5%)

EXAMPLE: Let’s say your 42.
42 multiplied by 10,000 is $420,000.

This # is what is needed in the bank or investments at this moment.

We have a more detailed Retirement Calculator on the home page of our brand new www.catchfireuniversity.com website.

Go check it out right now, this is important! I’ll wait....

If these calculations are not a wake up call I am not sure what is.

One of the BIGGEST obstacles people have when it comes to achieving financial freedom, independence or even just security is their budget, or more LACK of a budget.

We live in an “instant gratification” society. If we want it and cannot actually afford it, we can FINANCE it and pay 2- 5x the amount for it in interest payments! When you read it like that, it sounds crazy, but “they” have advertised it like it is a good, normal and safe thing to do. But it is NOT!!!

Taking on DEBT by financing furniture, appliances, home reno’s, electronics etc… is GAMBLING! Yes, gambling. You are BETTING that you will MAKE more MONEY in the future than you do NOW. Add up all the interest that you pay on these items and you will HAVE to or you will be up “S*&% creek without a paddle”.

The problem lies in the FACT that due to inflation and other elements MOST people will NOT make more than they currently do in the future, they will actually make LESS.

The KEY to true Freedom is TWO FOLD and if you ACTUALLY apply these two principals, it will CHANGE your life.

1. Live below your means (not above it like you are now) This will REQUIRE you to let go of your IMAGE and your ego that is attached to it. For many it will require getting out of debt by budgeting. Those of you not in debt will have a much easier time of this. In our ‘Catch Fire’ book we give you assignments to help you budget properly. In the Catch Fire University you will have access to our own SOFTWARE called the “DEBT-INATOR” to assist you in eliminating the biggest enemy to your freedom; your DEBT.

2. Increase Income (preferably passive income) This can be done through business and investing. Doug and I prefer to do this through Business. We feel it is a more stable, reliable way of creating wealth. Again we go into more detail about this in both our book and University
Doing these two things over a period of time will INEVITABLY create Financial Freedom.
When I was first working towards my FF, I was in my early twenties, on the verge of bankruptcy, so I had to make some humbling changes. I got rid of my apartment downtown and moved in with some very supportive family...

VITALLY IMPORTANT TIP:

The place you can cut the most FAT from the PIG (your budget) that will have the largest impact is to downsize your biggest bill; your mortgage! Most people are unwilling to do this due to their attachment to their image.

...During the time I was living with family I had a much reduced overhead aloowing me to pay off more debt more quickly. I also worked hard to make more income, the passive kind. This short term sacrifice was essential to me getting out of debt and achieving my first level of freedom. Without doing this I would have had to claim bankruptcy and destroy my credit rating. A choice I was unwilling to make. Now I live a drastically different life. I can live wherever I want, travel when I want and buy what I want without having to worry.

The process of living below your means when you are SOOOO accustom to the freedom stealing Instant Gratification habits will be uncomfortable to say the least. Here is the good news; it is a short term sacrifice. You give up some stuff NOW to have it ALL later. This is called LONG TERM thinking. And if you begin to think this way I promise it will change your life, it did mine!