About FRS: Understanding Our Four Points of Focus
for Developing Financial Independence and Wealth
Financial Review Services has developed a process for helping our clients achieve financial independence and wealth called Four Points of Focus for Developing Financial Independence and Wealth. Through our experience we have determined that there are four general categories an individual needs to focus upon, and coordinate, in order to attain true financial independence. The focus points are Debt, Expenses, Income and Protection. Using the points of a diamond, we illustrate how they work together to help you realize your financial goals:
This basic illustration provides you with an outline of your financial situation that is easy to assess and target. Most people address their debts and expenses as one item, when in fact they are two completely separate issues. Though they often go hand-in-hand, they should be addressed and managed independently. You will always have an expense from a debt (home loan, auto loan, credit card), but you do not always have a debt from an expense (phone bill, utilities, groceries, entertainment). These expenses may be recurring, but they are not the result of borrowing (debt). Therefore, it is important to separate debt and expense into two distinct categories.
Most people do not factor income into the picture when addressing their financial situation. The reason is that most people accept their income for what it is without realizing that there are many opportunities to earn income in addition to what they earn from their jobs. You will learn about the importance of passive income, and why it is critical to develop multiple streams of earnings in today's society. We will show you why your job should make up only a fraction of your overall household income, and we will introduce you to opportunities you can take advantage of to begin developing multiple sources of income.
An area of great oversight for many individuals is protecting our assets. FRS works with experts in asset protection, and will introduce you to strategies to help protect you and your family from liability.
- Learn how to manage your debt and use it as a tool.
- Control your expenses as it relates to your debt.
- Develop additional sources of income.
- Protect your assets.
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