Your Next Steps to Financial Freedom

Reprint of original article posted on Liveoutloud.com

Can you see your Financial Freedom Day beckoning on the horizon?

While you definitely want to keep your sight on the horizon, there is something nearer to focus on: what you do Today that brings you closer to your vision of Tomorrow.

What is the next step?

The most immediate thing you can do that will set the stage for the work ahead is to manage your lifestyle cycle. I’ve talked before about lifestyle cycles versus wealth cycles. Switching gears on this one is difficult for a lot of people, and one of the main reasons people have come to me for coaching. But, it is also crucial for your future success at wealth building that you take the time, now, to focus on the ways you currently treat your money and re-prioritize.

I like to say “build your assets, then build your lifestyle”. And, the good news is that the lifestyle that results can be the one you may have only dreamed about up until now, better than anything you have yet to experience!

What is controlling the direction of your wealth machine? Is it liabilities? Or, is it assets? The obvious answer should be that assets need to be the driving force. Look at most people: they go to work, they live for Friday when they receive their paycheck, maybe they treat themselves to dinner out and a movie, wait for their tax return and use it as a down-payment on a boat, which is another liability stacked on top of possible credit card debt, mortgage, car loans, etc. – it goes on and on. What you will find is that most people are not satisfied by this, and feel they are in an endless cycle. They may feel good for the short-term, but they feel the rug could slip out from under them at any time.

When you focus on assets rather than liabilities, you can forget standing on a rug: you are standing on the financial equivalent of concrete!

Next time, I’ll talk about building a wealth cycle foundation, which is where you want to position yourself.

About Loral
Loral Langemeier, founder of Live Out Loud, is the best-selling author of, The Millionaire Maker: Act, Think, and Make Money the Way the Wealthy Do. A team made multi-millionaire by age 35 she actively invests in business, the stock market, multiple real estate ventures and more. Through her diverse experience, she developed the concept of a Financial Wealth Cycle which is the core of her coaching programs. President of several companies, Loral is a nationally known speaker, coach and author.