“The only thing right about all projections is that they are all wrong.” - The Economist

Financial institutions practice what they preach.

Financial institutions have become expert marketers.

The goal of all financial institutions is to get our money. They want us to send them our money and they want to have control and use.

People have bought into the idea that somebody is going to take care of them.

People fly on autopilot financially. Business owners track inflow and outflow for their business but not personally.

Accountability is a principle.

People fail financially for the most part because they don’t have principles or they don’t know what the principles are that lead to financial freedom and they are not being taught what they are by most of the financial planning world.

If we viewed our money in terms of the principle of stewardship, would we gamble it?

Kyle J Christensen, founder of Fiveth, founder of Unique Advantage, and author of Principle Based Planning: A Better Approach to Financial Planning | LinkedIn

#compoundinterest #financial #institution #stewardship #gamble #principle #money #marketing #businessowner

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

“No one cares about your money more than you do.”

Stock ownership = a company has no legal obligation to pay you.

Prior to Apple or Microsoft, it was common for stocks to pay dividends. However, instead of paying a dividend, these companies put it back into the company.

“If you ever want to acquire the fortune that you seek, the first thing you have to do is acquire the knowledge that is required to obtain that right.” - Napoleon Hill, author of Think and Grow Rich.

Explore the 3 rules / principles of investing.

• Invest in what you know or become an expert so you can do so.
• Invest in what you can control.
• Don’t chase returns

Principles give us a filter to run decisions through.

Is there anything in your life that you have that’s been an enduring success that required no knowledge, no effort on your part, no accountability and somehow it worked out?

Kyle J Christensen, founder of Fiveth, founder of Unique Advantage, and author of Principle Based Planning: A Better Approach to Financial Planning | LinkedIn

#money #invest #success #fortune #principles #decisions

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

“Principles are what guide us if you want to say it’s your conscience.”

Principles make life easier. A principle is something that doesn’t change. It’s something that always points in a certain direction.

“The most important thing he learned was to live his life based on principles that teaches him what is true and what to do about it.” - Ray Dalio, author of Principles: Life and Work.

Look up the definition of retirement. A Traditional planning approach is designed to lead people to retirement. Retirement has an age associated with it.

Almost 67% of Americans who are currently retired say that social security retirement income is a major source of income.

Financial freedom is a capability. Financial freedom means that you can do what you want when you want without restrictions financially.

“An asset is something that puts money in my pocket. The difference between an asset and a liability is based on the direction of the cash flow.” - Robert Kiyosaki

Kyle J Christensen, founder of Fiveth, founder of Unique Advantage, and author of Principle Based Planning: A Better Approach to Financial Planning | LinkedIn

#principle #retirement #financial #freedom #traditional #capability #income #asset #liability #cashflow

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.