174-The Stages of Financial Independence: A Useful Roadmap to Help You Navigate from From Broke to Financial Freedom

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Self-improvement, Business, Education, Investing

4.2 • 1.9K Ratings

🗓️ 2 April 2015

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You can’t go from broke to rich in a single step. There’s no magic fairy who will suddenly transform your financial life for you. You have to do it yourself.

But you can work your way through a path that leads to financial independence and complete abundance. That path has stages and you should celebrate your progress at every stage!

In today's show, I share with you my ideas regarding the stages of financial independence. I believe this is a useful roadmap to help you navigate from where you are to total Financial Abundance.

Stage 0: Financial Dependence

Stage 1: Financial Solvency

Stage 2: Financial Stability

Stage 3: Debt Freedom

Stage 4: Financial Security

Stage 5: Financial Independence

Stage 6: Financial Freedom

Stage 7: Financial Abundance

My challenge to you is to take these stages, understand where you are, and lay out the numbers of your own situation. How much do you need to be financially stable? What's your number for financial independence? Financial freedom?

Write it down clearly for yourself and then keep working on it!

Enjoy the show,

Joshua

Links:

Here is the new page on the website: http://radicalpersonalfinance.com/finance-topics/stages-of-financial-independence/
Become a Patron of Radical Personal Finance! http://radicalpersonalfinance.com/patron

Transcript

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0:00.0	Have you ever wanted your vote to actually count?
0:04.0	Have you ever wanted your dollars to actually make a difference?
0:08.0	Well, unfortunately in most parts of our societies, they really don't. But there is at least one place where
0:18.8	your dollars do matter, and that's here, with radical personal finance. No massive corporation, no
0:27.1	massive board of directors, no big infrastructure to support, just one guy and
0:32.3	a show that hopefully you've come to enjoy
0:34.9	listening to.
0:36.8	That show was supported directly by you, the patrons of the show.
0:42.1	For information and details on how you can support the show, go to radical personal finance
0:47.0	dot com slash patron.
0:51.0	Today I want to dig into the stages of financial independence.
0:56.0	I'm going to give you the roadmap to go from completely broke and dependent on others to absolute and total financial abundance. Wow. Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets. This is the show
1:29.2	we talk about wealth. We talk about wealth from every single direction, but we have a heavy, heavy focus on
1:36.5	financial independence. And today, I'm going to give you the roadmap. This is my roadmap.
1:42.3	I've come up with this. and I want to get your feedback on it.
1:45.4	I want to hear if it works for you. So stay tuned. As many of you know I've been working depending on when you listen to this I've been
2:00.7	working hard on getting the new website to renovate it and out.
2:04.0	And as I record this today is April 2, Thursday, April 2 that this show will be going out,
2:09.0	2015.
2:10.0	So the whole process and the project for the last few weeks has been to get the new website going.
2:17.0	Well, that is and was a major challenge and continues to be.
2:21.0	It's certainly not finished, but at least it's live and now I've got
	...

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