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152: Let Freedom Ring … How to Build Your Freedom Plan
Manage episode 367922405 series 2794945
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Welcome aboard the journey to personal and financial independence! Let Marissa guide you through creating a freedom plan to lead you to a fulfilling life.
In this episode of Live Life Rich, she’ll unfold the essence of independence and its significance in shaping our lives.
Stepping into financial freedom, Marissa draws wisdom from her grandfather's famous phrase, “Make hay while the sun shines.” Discover your freedom number, the amount you need to generate an annual income of $150,000, and sketch your own map to financial independence. She tackles the complexities of inflation, taxes, and other considerations to ensure your income sources flourish and guide you toward your financial goals.
Retirement doesn't have to be a labyrinth of confusion. Marissa will help you navigate the intricacies of business sales, financial planning, and identifying potential sources of income. Whether it’s Social Security, cash rent, rental property, or a business sale, diversifying your income is the key to resilient financial health.
Remember, freedom isn't just a dream - it's achievable with strategic planning.
In this episode, you will hear:
- Create a freedom plan, focusing on the importance of achieving personal and financial independence and the significance of diversifying one's income sources
- How to ascertain your freedom number, the amount needed to generate an annual income of $150,000, and how to plan for it strategically
- Marissa’s grandfather's wisdom, “Make hay while the sun shines," emphasizes the need for planning and maximizing opportunities for financial growth
- Retirement planning, discussing the intricacies of business sales, financial planning, and identifying potential sources of income such as Social Security, rental property, or a business sale
- Take control of your life, live richly, and take risks because financial independence isn't just a dream but an achievable goal with strategic planning
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Supporting Resources:
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Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know I sent you.
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