Trek III: Building Wealth and Finding Fulfillment

This is activity 1 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

Trek III – Building Wealth and Finding Fulfillment is a journey for families with positive cash flow and positive net worth. The trek focuses on steps to maximize net worth. The trek also has steps to use prosperity to enjoy life and give back to others.

The trek focuses on saving, protecting income and assets,

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Wealth and Prosperity: Save From Income: Get the 401(k) Match

This is activity 2 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

The terrain: Prosperity Quadrant III (positive cash flow; positive net worth).
The trek: To build wealth and use prosperity to enjoy life and give back.
This activity on the trek: Get the 401(k) match from your employer if your employer offers a 401(k) and provides a matching contribution.
Difficulty rating: Easy to Moderate

If your employer offers a 401(k)

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Get Disability Insurance

This is activity 3 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

Disability insurance is a necessity during your working years. In fact, you are more likely to become disabled than die prior to retirement. If you become disabled your income and cash flow are in jeopardy unless you have disability insurance.

Many employers provide disability insurance as a benefit. If your employer offers disability

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Get a Free Credit Report

This is activity 4 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

You can get a free credit report to help you manage your debt.

Your free credit report will allow you to check the credit history that others have compiled about you.

Manage Debt

Go to annualcreditreport.com once every four months
Each time you go alternate between these 3 companies: Experian, Equifax and Trans Union. You can get a free

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Evaluate Your Debt

This is activity 5 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

Your net worth consists of two components: assets and liabilities. Liabilities are the debt that you owe others. And liabilities, debt, comes in all shapes and sizes.

One of the most profound questions is: How much debt is too much?

To determine if you have too much debt begin by looking at your short-term debt

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Wealth and Prosperity: Debt: Improve Your Credit Score

This is activity 6 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

The terrain: Prosperity Quadrant III (positive cash flow; positive net worth).
The trek: To build wealth and use prosperity to enjoy life and give back.
This activity on the trek: To improve cash flow by reducing debt expense.
Steps you should complete before beginning this step: Get the 401(k) match
Difficulty rating: Moderate

You can raise your credit score by

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Reduce Your Credit Card Debt

This is activity 7 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

Do you have credit card debt that has a interest rate that is high (for example, 9% or higher)? If you do, then your savings strategy should be to pay down that debt.

If your interest rate is high on your credit card debt, more than 9% for example, use any extra savings to pay down

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Automate Your Banking

This is activity 8 of 47 in the Wealth & Prosperity in Prosperity Quadrant III trek.

The most successful wealth managers know that they must be disciplined in their spending. It’s so easy to let expenses creep up as you make more and more money. If you’re not careful, those expenses can kill your chances of capitalizing on that wealth.

The first rule of any good financial plan is to pay yourself

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