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The Path to Financial Abundance

January 4th, 2008 at 02:51 pm

As we start a new year, it may be helpful to analyze strategies for taking more control over our financial health. By taking a more active role in our financial life, we begin to escape the fear of financial scarcity and start living with a feeling of financial abundance.

For some people, fear of financial scarcity controls their lives. When the fear of scarcity is controlling us, we will often either 1) Do nothing, out of fear that anything we do will be wrong or 2) Try “get rich quick” schemes which may leave us in a worse financial position.

To help my clients escape the fear of financial scarcity, I developed:

The Seven Steps of Financial Abundance

1. Spend Less Than You Earn
2. Maximize All Financial Resources
3. Minimize Taxes
4. Actively Manage Investments
5. Protect All of Your Assets
6. Keep Control Over Your Finances
7. Have Faith in Continued Abundance

These steps are basic tools to help control our financial lives. These tools are designed to help you “get rich slowly,” by using strategies to minimize your tax burden as well implementing techniques to manage and protect your financial assets.

In future posts, I will provide more detailed information on each step, including specific implementation strategies. Hopefully, this will help anyone who is interested in finding their path to financial abundance.

3 Responses to “The Path to Financial Abundance”

  1. Amber Says:

    Great post, number 3 is my favorite. It took a while for me to realize that

  2. fern Says:

    Aren't #4 and #6 the same thing?

  3. finabguide Says:

    Investments are only one aspect of financial abundance. Often, we spend so much time focusing on our investments that we forget the other actions we can take to increase our abundance.

    In #6 I focus on how we can take control of all aspects of our financial life. This includes how much we spend (and save) plus non-investing actions we can take to increase and protect our wealth. It also includes non-investing actions to maximize our savings for educational expenses and retirement .

    Simply put, #6 refers to our decision to actively take control over all of our personal finance decisions, not just how we manage our investments. For more information, go to www.financialabundanceguide.com

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