Time for action
Thankfully, we make your next step easy. It’s as simple as telling us what you’re looking to achieve and the type of support you want. You talk, we listen.
Discover The Financial
Freedom Wheel™
Managing your finances and staying on track with your money, tax and investments can be hard. With so many moving parts these days—in an increasingly complex and technological world—it can be hard to know where to start or what to do next.
That’s why we’ve developed our 8-step Financial Freedom Wheel™ methodology. Developed off the back of our 40+ years in advising clients in how to manage their money, reduce their tax, grow their wealth and create a great lifestyle for themselves and their families, we identified the 7 most important aspects (or 8 aspects, if you also own a business) that you need plan and manage well, in order to reach financial freedom.
In fact we even wrote a #1 Best-Selling book about it.
What Do We Mean By ‘Financial Freedom’?
The only definition that really matters, is yours. Financial freedom can mean different things to different people. To many of our clients, it means having more choices in how they spend their time, both now and in retirement.
And having choice in how you spend your time needs to be underpinned by having sufficient wealth and income. Specifically how much wealth and income is up to you to define. We’ll help you get crystal clear on that and then put in place with you a realistic plan to achieve it.
We’ll also help you develop your sources of passive income from investments where your money works for you, instead of you actively working (spending your time and labour) for money.
What’s With The Wheel?
We recognised that the 8 aspects for achieving financial freedom are like the spokes in a wheel, in that all spokes need to be in place, be strong and be balanced.
A wheel with missing or wonky spokes won’t take you far, just as your financial affairs and systems need to be in order across each of these areas.
By putting these 8 aspects into the Financial Freedom Wheel™, we give you a holistic ‘big picture view’ of your wealth and financial position, that communicates simply and visually, and makes it clear which areas need to be focused on next, to help you reach your financial freedom.
The Hendrie Group team makes our lives so much easier, as we know we are in very capable hands at all times.
Jack and Kathy Holstein
How’s Your Wheel Looking?
Let’s find out the current state of your own Financial Freedom Wheel™. Whether you’re starting on a program to lose weight, improve your health or fitness, or become wealthier and financially free, competent professionals will always start by taking some baseline measurements.
This baseline will give you an easy—and motivating—way to measure your progress as you improve.
Your first step in the process as we guide you to financial freedom is a self-assessment where you will take a moment to consider how you currently rate on each of the 8 ‘spokes’:
- 1 means “I don’t even know where to start…”
- 10 means “I am in total control of this — there’s no room for improvement”
- Or 2 through 9 indicates where you feel you sit in this spectrum, for each spoke.
So let’s get this process rolling <pun intended, forgive us!> and download your complimentary copy of the Financial Freedom Wheel™ worksheet now, and complete your self-assessment.
Do it now, as it will only take you 5 minutes or so…
Your Financial Freedom Wheel™ worksheet
The worksheet includes an explanation of each of the 8 spokes and we’ll also discuss each of the areas with you when we sit down with you. There’s no cost or obligation involved in this initial discussion. You can book a time for that here.
Let’s take a quick look at each of those 8 areas here now…
The spokes — The 8 crucial areas to manage
1.
CASHFLOW
Let’s face it. Cash is like oxygen. You can’t do much without it. We’ll help you set up dependable systems to make sure you’re making the wisest use of your money in relation to the goals you want to achieve. Whether we’re talking about your personal or business cashflow—or both—this step reduces financial stress and gives you a stable and controlled base to work from. Without a consistent, budgeted, controlled cashflow system, financial freedom is a pipedream.
2.
DEBT MANAGEMENT
Not all debts are born equal. Some support your goals, while others are roadblocks to achieving them. We’ll work out a plan to help you eliminate the debts that are slowing you down on your path to financial freedom, and we’ll make sure your ‘good debts’ are structured correctly to reduce your costs and improve your cashflow. Your debt management plan will help you pay down the ‘bad debts’ faster. You’re going to love this process.
3.
SAVING & INVESTMENT
If you’ve ever heard the wealth creation adage, “Pay yourself first,” meaning make sure you set aside your savings and investment amounts before paying bills, you may have found it a little easier said than done. You’re not alone. Yet the financially free do practise this discipline each and every pay period. We’ll help you set up a system to achieve this on autopilot each month. You will never have felt so in control and stress-free, money-wise.
4.
SUPERANNUATION
Super. Everyone knows about it, but not everyone puts in place strategies to ensure they are making the most of the very substantial tax savings available. For many, retirement seems a long way off, but when you understand the snowballing effect of compound interest (where you earn interest on your previously earned interest) you very quickly realise that having an effective superannuation strategy tailored for you is urgent, not optional.
5.
TAX PLANNING
Everyone needs to pay their tax, but no-one needs to pay one dollar more than required by the law. Yet many unwittingly do. We’ll make sure you have a smart tax-effective structure and plan in place, so you can legally and ethically minimise your taxable income. We’ll make sure you make the right moves—for example when buying, leasing or selling items such as plant, equipment or property—so you minimise how much tax you need to pay.
6.
LIFESTYLE PROTECTION / INSURANCE
This is about making sure you have a Plan B in place for you and your family, should unexpected events occur. Your ability to generate income is one of your most valuable assets, and your family’s personal assets such as your home should not be at risk if something bad—such as expensive litigation—happened to your business. “Expect the best, yet plan for the worst,” as they say. A solid lifestyle protection plan will secure your family’s lifestyle. By the way, it’s important to make sure you’re not over-insured as well. There’s no point in wasting money if you don’t need to.
7.
ESTATE PLANNING
It’s a grim yet unavoidable topic: What do you want to happen when you’re gone? Or, heaven forbid, permanently incapacitated? To protect your legacy and ensure your assets are transferred according to your intentions, a standard will often does not do the job and additional directives (documents) are necessary. Effective estate planning gives you peace of mind in the here and now, and avoids ‘family feuds’ amongst loved ones when you’re gone.
8.
BUSINESS GROWTH
If you’re a business owner, you know that success doesn’t happen by accident. You need a clear strategy, a simple scoreboard, good systems, effective marketing, a great team and often… someone to lean on and be a sounding board for you. Having an independent, business-savvy advisor you can bounce things off and talk to on a regular basis makes a major difference to your business’—and often also your mental—health.
Does the Financial Freedom Wheel™ really work?
It sure does. We have used the Financial Freedom Wheel™ with our clients over the years and we even use it to manage and keep our own finances on track. It’s a proven system that, as you can see, just makes sense. The key is, we’ll keep you on track with the ongoing implementation. That makes all the difference.
Your two next steps…
Your next two steps are easy. And free.
Simply download your Financial Freedom Wheel™ worksheet and take 5 minutes to do your self-assessment, then get in touch to book a time for our initial complimentary meeting.
This obligation-free discussion of the current state of “your wheel” and where you want to be in the future will help us both work out if there’s a fit for working together to achieve your financial freedom.
Let’s Have A Chat
Feel free to click here and make a time for an initial complimentary, obligation-free chat about your needs. We can do this face-to-face, over the phone or via web meeting. Whichever suits you best.
Subscribe to the Freedom Files
Time For Action
You know this as well as we do: Nothing changes until action is taken.
Thankfully, we make your next step easy. It’s as simple as telling us what you’re looking to achieve and the type of support you want. You talk, we listen.
- VISIT US ATLevel 1, 23 Lacey Street Croydon, Vic 3136
- CALL US ON03 9725 2533
Submit your details below and we will email you Your Financial Freedom Wheel™ worksheet
The Hendrie Group
Level 1, 23 Lacey Street Croydon, Vic 3136
03 9725 2533
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