7 STEPS TO FINANCIAL INDEPENDENCE
(PRETTY BIG STEPS)

· Understand that you can do it if it's that important to you (and it should be).
· Realize that any of the blocks you have about money are correctable with the right coaching.
· Discover where you are along the 7 Levels of Financial Independence.

· Make substantial changes: Cut expenses by 25-40% and start saving or investing this money.
· Invest $1,000 - $10,000 annually in your own skills training in order to double your earnings.
· Make the emotional/self-worth shifts required for abundance. Have money be okay and good.

· Read a book or get input on what money is, how it works, taxes, compounding, investments.
· Get the financial facts about yourself: Assets, Liabilities, Income, Expenses, Savings.
· Start hanging around people who you like who do have money and learn from them.

· Moonlight, increase fees, decrease business expenses, be more productive, get a new job.
· Get into a field which offers at least 10 years of opportunity, demand & growth (and pays well).
· Set a target of saving 10-40% of what you earn and make personal changes to start that.

· Amass $25,000 in cash or liquid investments. There is a psychological "feeling" at this level.
· Create a plan to get to $250,000 within 10 years, or sooner. Be realistic, yet aggressive.
· Start the plan, setting up structures, supports and actions which make it real for you.

6. Protect what you have

· Get plenty of insurance: Medical, life, disability, homeowners/renters, business, liability.
· Invest in safer investments; no more than 10% in speculative investments.
· Don't put all your money in your business; force yourself to save and keep it separate.

· You don't want to have to wait to start enjoying your FI efforts; reward yourself now.
· Don't be afraid to make the present perfect, even if it slows down your FI plan.
· Don't buy things to medicate or for "future" biz needs; buy for immediate reward or benefit.

· Big enough game to play for

· Personal support

· Enough structure

· Plan of action

· Coach to help create and direct

· Success, cash coming in

· Starting savings

· Wanting it bad enough

· Willingness to put it as a priority

· That you are someplace in relationship to FI, predictable stages, having map and knowing where you are, measurable status

· Information about where you are

· Knowing you can, certainty

· Creating value, earning high revenue

· Getting to zero if in doubt

· Strong personal foundation

· No crises, distractions

· Community of people playing same game

· Eliminating destructive or self-destructive behavior

· Removing doubters and diminishers

· Identifying where you are now in an honest but not shaming conversation; it's just money

· Charging for what you've been giving away (increase self-esteem to do this, if necessary)

· Give enough people enough of what they want and you'll make all that you need

· Do what it takes to make at least $100,000/year for several years (and save 20-40K)

· Get capital to start a business or to invest

· Design ways to make money without having to put in working hours. (Passive income stream, like
royalties, investment income, business ownerships and interests)

· The earlier you save, the more you'll have

· Time helps a person become FI

· Recognizing people's needs (products, services)

· Cash in the bank that is not needed (capital)

· Expertise or mastery creates higher income

· Owning assets, revenue streams

· Hanging out with business owners, FIs who will help you get started

© 1999 Coach U, Inc. All rights reserved. May not be duplicated, retransmitted or reproduced or used by anyone unless they are in Coach U's Coach Training Program or an approved program.

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