Calculate the Income You’ll Need

Now we’re gonna look deeper into the planning stage. And we’re gonna look to do more of the math about the income required to make the results possible. And then how exactly we’re going to do that. So we’re going to go to Step five here, calculate the income necessary to support your lifestyle. Now, this is something most people don’t do. Most people usually make a certain amount of money. And then they just take that money and say, Okay, I’m going to figure out how I’m going to spend that. What we’re doing here is we’re saying, here’s how we would like things to be. And in order to live the lifestyle that I’d like, Here’s the money I need. So when people sometimes say, Well, you know what, I want to make as much money as possible. On one hand, that makes perfect sense. Of course, we all want as much money as possible. If we could have a billion dollars or 10 billion or 20 billion or whatever it is. That’s great. But overall, the most important concept is what That money get for you. So what I’m gonna look to do here, and we have 12 slots for this, if you needed more than 12, you could combine some things or you could do the math somewhere else. But basically, I’m saying this is what it would take for me to live the lifestyle I want. And in this example here, I’ve got my mortgage for my home my insurance, I’ve got life and disability insurance and savings and investments, health insurance, utilities, maintenance, paying off some debt, education, charity, dining out entertainment, fast food, and all these things add up to $5,000. Now your numbers might be very different. This is not a suggested number, just a sample number. And you’ll find I like to use nice, round pretty number so that adds up to $5,000. So now that you’ve gotten clear about what it requires to support your lifestyle, we’re going to go deeper into making that happen. Now, you might have different levels of lifestyle. One of the things that we coach people on in the coaching program that I do is really looking at your current life. lifestyle and how that compared to let’s say, an ideal or an absolute ideal or a rock star lifestyle or whatever word you want to use for that. And so there might be jumps in this you might say, Well wait, this is my lifestyle for now. And in six months or 12 months, I want a different lifestyle. So you might take this same process the same tool and write it for what do I want it to be in six months or 12 months.