The 3 Goal Setting Principles to Achieve Financial Freedom
And that’s setting the wrong goals.
What the typical Australian investors believe to be the right goals, I believe may not be serving their best interest. I’m talking about chasing goals around net worth rather than financial freedom. And it’s not their fault, because that’s what the ‘experts’ in the industry supposedly teach them.
So this week is all about understanding three principles that I teach to my clients:
- What’s their baseline goals vs aspirational goals? What are the definitions and how do you establish these?
- The difference between capital and cash flow goals, and why investors get this wrong all the time!
- Tracking the gap – whatever doesn’t get measured, doesn’t get managed.
By understanding these three principles, I guarantee that some investors will reassess whether their goals are ideal.
00:00 – Intro
00:29 – The 3 Principles for setting the Right Goals
02:12 – Living frugally as a Business Owners
03:08 – Principe 1: Distinguish between Baseline and Aspirational Goal
06:42 – Principle 2: Distinguish between Capital and Cash Flow Goals
08:37 – Principle 3: Tracking Net Return you’re getting VS Net Return you need
10:26 – Summary and Outro
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