The Road to Wealth Series: The Five STEPS to Financial Freedom

Build your team, strategize, plan, and start!

Team

• Insurance Specialists
• General insurance
• Life insurance
• Health insurance
• Disability insurance
• Errors and omissions insurance
• Liability insurance
• Accounting Specialists
• Tax strategists
• Bookkeeper
• Accounts payable clerk
• Accounts receivable clerk
• Payroll clerk
• Accountant
• Auditor
• Certified public accountant
• Cost accountant
• Corporation Specialists
• Corporation administration
• Corporation setup
• Legal
• Transactional attorney
• Intellectual property attorney
• Real estate attorney
• Attorney (estate planning, contracts)
• Financial
• Banker
• Financial consultant/planner
• Leasing company representative
• Credit advisor
• Investment advisor
• Tax preparer
• Stockbroker
• Check with local licensing boards
• Get referrals
• Look for articles in the local paper and contact the author
• Ask successful people for referrals
• Complete the advisor checklist

Evaluation/Strategy

• Create a business plan
  
• Create a financial plan incorporating financial goals (evaluate each month)
• Within 12 months
• Within 5 years

Plan/Path

• Focus on reducing personal debt
• Do not incur any further long-term debt
• Come up with an extra $150-$200 per month and apply to one credit card at a time
• Once the credit cards are paid off, put the extra money towards other debt (car, student loans, etc.)
• Never take money out of retirement account until you are ready to invest it
• Create a business/corporation
• Put the plan (business and personal) into action

Starting Point (Reevaluation)

• How did you do?
• What stops you (lack of education, lack of control, lack of trust, fear of loss, etc.)?

Resources/References

Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax by Diane Kennedy

*´¨`·.¸¸.* Ebony Ynobe *¨`·.¸¸.*
http://www.twitter.com/ebonypost

http://ebonypost.blogspot.com/

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Advisor Checklist

What role will this advisor perform as a part of the team?

EXPERIENCE
1. How much experience do you have in delivering the specific results I am seeking?
2. What experience do you have with specific issues you will have?
3. What is the average income and business experience of your clientele?

PERSONAL VIEWPOINT
4. Do you personally have experience in my proposed outcome?
5. Are you at an income/wealth level that is at or above my proposed outcome?

EDUCATION
6. Do you have the educational requirements for the role?
7. Do you have the professional credentials for the role?

COMPENSATION
8. How are you compensated (flat fee, product sale, hourly)?
9. Do you have vested interest in helping me achieve my goals?

RESPONSIBILITY
10. Do you assume any responsibility? (The highest degree of responsibility will come from the person who signs the income tax return or gives you an opinion letter regarding a plan. These people put their credentials on the line.)

CLIENT CONTACT
11. How do you keep in contact with your clients (proactive or reactive)?
12. What is your average response time?
13. What is the level of confidentiality for all of the information I divulge to you?

ADVISOR ORGANIZATION
14. Do you have an organization that supports achieving your goals?

YOUR NEEDS
15. What can this advisor do to help me meet my goals?
16. Is this advisor someone I can model? If so, how?
17. Do I expect to be educated by this advisor? If so, how?