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What Are Your Top 3 Financial Objectives?

Many people have asked me, "What do you mean when you say 'Living debt-free and truly wealthy'." The answer is both simple and complex. The goal I have set for myself is to help all my friends, family, and people in my community become debt-free and truly wealthy. There are two parts of this, (Debt-free and Truly Wealthy respectively.) Debt-free is pretty clear in its meaning, but what does truly wealthy mean?

Becoming truly wealthy is a relative term with an important meaning. It is founded on the core that everyone has a different definition of 'wealth'. To some it is as simple as having a roof over their head and food on the table for their family, others it is being able to help send their children to college, and still others are dreaming about diamond-studded swimming pools. For me, living truly wealthy is being able to spend, save, invest and plan wisely for the future, and be financially independent while still having enough to give to the needy.


To put the power of compounding on your side, you have to start now. Waiting is the biggest wealth killer. The point is that to put time on your side, you need to decide early which of the many possible financial goals are really worth pursuing -- and start working toward them.


To get started, make a list of all the things that you'd need to feel secure and happy. These can range from getting out of debt to a vacation home in the Alps. You don't need to prioritize them yet.


But you should write down all of the money-related things that will really get your motor started. Here are some objectives we got from other families that you may want to include among the possibilities:


• Accumulating enough savings to handle an emergency

• Buying a house large enough to accommodate you comfortably

• Getting out of debt -- and staying out

• Ensuring that your parents are comfortable and well taken care of in their old age

• Paying for your children's college education

• Amassing enough wealth to retire comfortably



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