Step #3 — How will you get enough Critical Capital?
Remember, the amount of money necessary for financial independence is called “Critical Capital”. There are three specific steps that I use to help you acquire enough Critical Capital for financial independence:
- Calculate Critical Capital — how much do you need?
- Determine the future value of how much you have already saved — what will your current investments be worth in the future?
- Determine how much you still need to save — how can you change your cash flow or real estate equity situation in order to make up for the shortfall?
As a CMPS professional, I work as a team with your CPA, CFP® and other financial advisors to help you determine how much cash flow you need during retirement and the best way to generate that income. I can also refer you to a financial planner if you don’t already have one. Either way, give me a call or send me an email to schedule a time to discuss your options in further detail.