Podcast
Questions and Answers
Wealth is about ______, which is the only number that really matters.
Wealth is about ______, which is the only number that really matters.
net worth
True or false:Setting goals is the first step in preparing for a journey towards wealth building and net worth.
True or false:Setting goals is the first step in preparing for a journey towards wealth building and net worth.
False (A)
What is the final step in preparing for a journey towards wealth building and net worth?
What is the final step in preparing for a journey towards wealth building and net worth?
- Prioritizing financial goals
- Focusing on needs over wants
- Learning positive financial habits
- Setting SMART goals (correct)
SMART goals are ______, measurable, action-oriented, relevant, and time-based.
SMART goals are ______, measurable, action-oriented, relevant, and time-based.
What should goals be to determine if they have been achieved?
What should goals be to determine if they have been achieved?
True or false: Goals must be specific and measurable to determine if they have been achieved.
True or false: Goals must be specific and measurable to determine if they have been achieved.
[Blank] financial habits can become a part of daily life and increase net worth.
[Blank] financial habits can become a part of daily life and increase net worth.
What does SMART stand for in SMART goals?
What does SMART stand for in SMART goals?
True or false: SMART goals are specific, measurable, action-oriented, relevant, and time-based.
True or false: SMART goals are specific, measurable, action-oriented, relevant, and time-based.
True or false: SMART goals help to keep attention and energy focused on achieving the goal.
True or false: SMART goals help to keep attention and energy focused on achieving the goal.
Focusing on ______ over wants can help to utilize money better towards growing net worth.
Focusing on ______ over wants can help to utilize money better towards growing net worth.
What do SMART goals help to keep focused on achieving the goal?
What do SMART goals help to keep focused on achieving the goal?
The Freedom Fund is determined by ______.
The Freedom Fund is determined by ______.
What do we tend to do when estimating what can be achieved in a short period of time versus a longer period of time?
What do we tend to do when estimating what can be achieved in a short period of time versus a longer period of time?
True or false: We tend to overestimate what can be achieved in a short period of time and underestimate what can be achieved in a longer period of time.
True or false: We tend to overestimate what can be achieved in a short period of time and underestimate what can be achieved in a longer period of time.
Prioritize financial goals: paying down debt, saving for a home, building emergency savings, investing in ______ or stocks and bonds.
Prioritize financial goals: paying down debt, saving for a home, building emergency savings, investing in ______ or stocks and bonds.
True or false: Wealth is about income.
True or false: Wealth is about income.
What can become a part of daily life and increase net worth?
What can become a part of daily life and increase net worth?
What is wealth about?
What is wealth about?
True or false: Focusing on needs over wants can help to utilize money better towards growing net worth.
True or false: Focusing on needs over wants can help to utilize money better towards growing net worth.
Set SMART goals for each priority to hold yourself accountable and manage ______.
Set SMART goals for each priority to hold yourself accountable and manage ______.
True or false: Prioritizing financial goals is not necessary for achieving financial success.
True or false: Prioritizing financial goals is not necessary for achieving financial success.
What are SMART habits about?
What are SMART habits about?
Review the ______ steps to financial awareness.
Review the ______ steps to financial awareness.
What can help to utilize money better towards growing net worth?
What can help to utilize money better towards growing net worth?
True or false: The speaker will not return in a later module to discuss the do's and don'ts of investing.
True or false: The speaker will not return in a later module to discuss the do's and don'ts of investing.
Take time to set SMART goals for each priority in the next few ______.
Take time to set SMART goals for each priority in the next few ______.
Accountability is key to achieving ______ success.
Accountability is key to achieving ______ success.
True or false: SMART goals are specific, measurable, achievable, relevant, and time-bound.
True or false: SMART goals are specific, measurable, achievable, relevant, and time-bound.
What should be done to hold oneself accountable and manage expectations for financial goals?
What should be done to hold oneself accountable and manage expectations for financial goals?
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Study Notes
- Setting goals is the final step in preparing for a journey towards wealth building and net worth.
- Goals must be specific and measurable to determine if they have been achieved.
- SMART goals are specific, measurable, action-oriented, relevant, and time-based.
- SMART goals help to keep attention and energy focused on achieving the goal.
- We tend to overestimate what can be achieved in a short period of time and underestimate what can be achieved in a longer period of time.
- Positive financial habits can become a part of daily life and increase net worth.
- Wealth is about net worth, which is the only number that really matters.
- SMART habits are about learning how to earn more, spend less, and use the difference to accumulate wealth.
- Focusing on needs over wants can help to utilize money better towards growing net worth.
- The Freedom Fund is determined by net worth.
- Prioritize financial goals: paying down debt, saving for a home, building emergency savings, investing in real estate or stocks and bonds.
- Set SMART goals for each priority to hold yourself accountable and manage expectations.
- Review the seven steps to financial awareness.
- Take time to set SMART goals for each priority in the next few modules.
- Colleagues will share real-life experiences and how they've used these processes to earn more, spend less, and get out of debt.
- The speaker will return in a later module to discuss the do's and don'ts of investing.
- Emphasize the importance of taking action towards financial goals.
- Accountability is key to achieving financial success.
- SMART goals are specific, measurable, achievable, relevant, and time-bound.
- Thank the audience for the privilege of sharing information.
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