Find out how you are financially can be achieved by determining what financial life phase, you are up to date. This should be determined after you a clear picture of how well you handle your income and your expenses are reached have. Here are four of these phases which reflect the financial stability of a person:
1. Start up phase – this means that all your income from active income is generated.Your source of income is your salary or allowance, income from buy and sell or simply revenue by devote your time and skill aktiv.In of this stage is your only source of income active income to your needs, as well as care expenses.
2. Development phase – this is your Gesamteinkommen.Mit during this time, your assets and investments to generate passive income of about 20% it enough to finance 20% of your needs and expenditure.
3. Asset allocation phase – during this period, passive income is 30% to 60% of total revenue and you will be able to finance at least 50% of your personal needs and expenses arising from this passive income.
4. Retirement phase – this stage represents success in achieving financial success.At this stage your passive income can support all, your daily needs, expenses, and will.
Knowledge your current financial life phase, set up a comprehensive plan, such as on the higher stages as above gezeigt.Sie should remember constantly, that your goal with one hundred percent should go financial freedom once you reach your retirement phase these different steps.