WMG Wealth Series - Part 2: A Financial Reality Check

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Real Estate Agent with Dream Key Team DRE# 621972

Today I attended Part Two of the Win Make Give Wealth Building event https://winmakegive.com/ and I am a little nervous about this one! I am nervous because this is going to make me look at some things that I haven’t paid close enough attention to in a while. Those important things that you tend to ignore because they are not an immediate threat or you see as unnecessary at the time, can quickly become a priority. That is when we tend to react, get our house in order, and really start paying attention. Oftentimes unfortunately that is when it is too late or it requires much more effort and attention than if those things were maintained. Now if I were talking about the weeds in your yard or that vine that you just let “go wild” you can probably relate and understand how quickly things can get out of control. 

 

Part Two of the WMG Wealth Building event is all about your “Financial Reality Check” and during this session, Ben Kinney, Chad Hyams, and Bob Stewart help us learn more about taking a “deep dive” into your own personal finances. I will be honest, I have my finances in order as far as a retirement account, savings, a few different streams of income, coming from different income sources and industries, but what the instructors are providing is so much more than just knowing what is on your bank statements, it’s making a habit of tracking your net worth on a daily basis. 

 

The homework itself (yes there is homework), and the resources that are available to the attendees is incredible. Yes, it’s not all entertainment, there is some work that will have to be done in order to get the most of these sessions. Each of the lessons comes with its own workbook that provides detailed information, questions that can be answered to help facilitate the learning process, supporting diagrams, charts, graphics, and additional resources. 

 

Part 2 is complete with a Personal Budget Tracker. This tracker is something that I have been looking for without having to use expensive software and here it is as a resource! This was hard to go through because it showed how much stuff that I really did or don’t need or what you would consider non-essentials. The power behind this tracker is if you are exceeded in your total annual expenses, you will never have the ability to stop having to earn income. Having extra income to put toward your retirement is essential to building your retirement! 

 

You get a Basic Net Worth Tracker, which I love. BTW, the formulas are already in the tracker and the end result is what you want your “end result” to be. The goal is to get you on “track” for you to be in a position, your other sources of income (your investments), completely cover your lifestyle. Then there is the Net Worth Tracker which helps you discover where you are, good or bad, and it gives you something to work on. This is a true reality check as you discover exactly how much “cash” and assets and liability you have. 

 

Next, there is the Advanced Net Worth Tracker and this tracker is for those who have several investments, several cash assets, including checking accounts, savings accounts, and even CD’s. Too many times, we find ourselves forgetting about or not paying enough attention to these kinds of savings and investments. Taking a real look at all of our current investments and opportunities will help you to become financially responsible and accountable!

 

This episode is all about discovering, tracking, then taking action, and getting yourself prepared for the future and the unknown. It’s what you need to do in order to get yourself to do what you want when you want with who you want or just not have to work at all!

 

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