Freedom Figure
Greg Wilkes
I help construction business owners grow a £5million+ company????♂? Award Winning Construction Business Coach, Property Developer & Author?? ??FREE Build Your Future book ????
One of the downsides of running your own business is that many owners never get around to planning their own retirement, or how they will exit the business.
For instance, have you got a pension fund, and is it enough? This might be a scary thought, especially as the years tick by. Many underestimate just how much they need to have saved to enjoy retirement worry-free. I mean who wants to worry about every penny when they should be enjoying the fruits of their hard work?
So how would you feel if you knew exactly what your financially-free amount was? Even more importantly, how would you feel if you could come up with a plan to achieve that figure in a time frame that suits you? I call this your Freedom Figure.
Would you like to see a system that could tell you what this number is, and how long it will take you to achieve it?
One of my clients, who we’ll call John, was very frustrated that he was earning less than his subbies and couldn’t seem to make a profit on his projects. He wanted to be financially free, but he didn’t have a plan on how to get there. So, we came up with a strategy that showed him how to price profitably, how to bring in projects on time and in budget, and who to hire so he could focus on the tasks only he could do.
He was amazed at the transformation the application of these three things made. In less than six months he was on target to make 200k profit on a turnover of just 900k. These are impressive margins, and now he has a plan that he knows will get him there, he has the confidence to permanently change his way of working to become financially free.
So, what figure do you need to retire, and how do you plan to get it?
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If you would like to know how to find out your retirement figure you need to do three things:
1. identify your desired annual income
2. apply the FIRE equation
3. map out a strategy on how you'll get there.
Contact me if you would like to know more about the Freedom Figure, and the FIRE equation.