Thought You Couldn't Financially Plan?

You can! I will take you there in steps. Stage 1 today. Day 6 of Start Here

I like to teach by example, and today’s example is Sofia Cruz, who works full-time in El Paso for the family business.

Sofia’s case is initially uncomplicated by the real world of taxes, life changes, and investment uncertainties. Learning is more easily extended when the basics are known, and those are coming later.

By the end of today’s slide deck notes, you will know how to build your stage 1 financial plan prototype that captures your best living standard. The same method applies whether you are 23, 43, or 63.

Sofia’s goal is her best living standard and, on the face of it, it is not a simple concept to understand. Sofia has taxes to pay, investments to make, and life to experience that will have financial effects. Sofia’s prototype considers an estimate of her longevity and human capital, any interest in retirement, money in the bank, and future income prospects. That is a lot to consider. Today’s slide deck and sections 2.1 through 2.3 of the book help take you through Stage 1.