The Balanced CEO with Simone

Mastering Wealth-Building Strategies: A Holistic Approach


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Today, we're diving into the art of wealth-building. We're going beyond the basics, looking at the bigger picture, and mastering holistic strategies that will set you on the path to financial freedom.

We’ll explore the three pillars of wealth-building: "Build, Manage, and Grow."

Build:

We begin by understanding how to increase your income. Whether you're a salaried employee or a business owner, building your income is the foundation. Negotiation skills, multiple income streams, and strategic income increases are key.

Manage:

Managing your money effectively is vital to wealth-building. We introduce a holistic money management plan, categorizing your expenses into three buckets: Necessities, Wealth Building, and Fun Filling. This plan ensures you're in control of your finances, with a focus on short-term and long-term financial goals.

Grow:

The final piece of the puzzle is growing your wealth through smart investments. We introduce the CIGAR model, where Compound Interest, Investment Horizon, Financial Goals, Allocation, and Risk Tolerance work together. We discuss various investment options, including real estate, paper assets (like stocks), and even your own business.

Other Key Takeaways in this episode:

  • Evaluate your current financial mindset, habits, and systems.
  • Develop a holistic money management plan to align with your core values.
  • Prioritize high-interest debt and build an emergency savings fund.
  • Explore investment options that match your risk tolerance and financial goals.
  • Remember, wealth isn't just about money; it's about creating the life you desire. So, set your financial goals, master your mindset, and start building, managing, and growing your wealth on your terms.

    Ready to ditch the stuffy and "old school" ways of money, but still get professional and expert guidance?

    Book a Financial Curiosity Call with me! 

    https://calendly.com/freedomsun/financialcuriosity

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    The Balanced CEO with SimoneBy Simone Cimiluca-Radzins, CPA