For Your Biggest Dreams to Come True, You must Have “A Plan” - Art Williams
Six Steps to Total Financial Freedom
Step #1: You must have a specific goal.
I was earning $10,700 a year as an Athletic Director and football coach. After days of
thinking and worrying, I decided on my specific goal. I wanted and income of $30,000 a
year - guaranteed for life!
Step #2: You must have a specific time set to achieve your goal.
I was 28 years old and I decided I would work and sacrifice for 10 years to achieve my goal. By
doing this, I would be financially independent by age 38.
Step #3: You must write your goal down.
Your goal is most effective when it is specific and written down as a commitment. (I cut out a
piece of cardboard, wrote down my goal and placed it on my daily calendar).
Step #4: Develop a detailed plan to reach your goal.
I had saved $40,000 in my 2.5 years of working part-time. If I committed my $40,000 for 10
years and could get 10% interest, my savings would be $40k x 10% x 10 years = $100,000.
(Actually, the $40k would grow to more than $100,000 by investing the $40,000 I had saved.)
I figured that if I accumulated $300,000 cash, and received the principal, I could
withdraw $30,000 each year and never touch my principal. This $30k each year could go on
forever! But I needed $300,000 and I had only figured out how to get $100,000 by investing
the $40,000 I saved.
I was still $200,000 short. I thought that at 10% interest I would have to save $1,000 a
month for 10 years to get the additional $200,000: $1,000/mo. at 10% interest over 10 years =
$200,000 plus. I now had my financial plan. Invest my $40,000 for 10 years and invest $1,000
per month for 10 years. $300,000 would equal $30,000 a year for life.
Step #5: Decide what kind of price you are willing to pay.
Saving $1,000 a month was tough for me, but I knew that if I wanted to be completely
financially independent in 10 years, that was what it would take. “There is no free lunch.”
I decided my price would be to give up coaching and work full-time helping others build
financial security. That was a tough decision, but it was what I wanted to do, and it worked for
me and my family.
Step #6: Think about reaching your goal every day.
There was not one day that I didn’t think about how great it was going to be being financially
independent. Those dreams made me keep trying when I wanted to quit.
