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The Third Tier of Financial Maturity: Growth

Action Plan Content

Quick Look

  • Growth is the third tier of financial maturity
  • Build momentum toward achieving your long-term goals
  • Automate your financial life based on your comfort level
  • Learn how to invest as you save for your future

Contents

Growing Your Finances: It’s What You’ve Been Working Toward

You’ve built your foundation and secured your perimeter. Now, you are ready to accelerate! The Growth tier is where you use your financial momentum to catapult toward your long-term goals. In this phase, you will expand your emergency fund to a robust 3 to 6 months of living expenses to accommodate an expanding lifestyle and greater obligations. You will also implement financial automation to the greatest extent you feel makes sense for you. Generally speaking, automation ensures your bills are paid, your income is deposited, and your investments happen seamlessly without you having to think about them. Most importantly, this is where you start your retirement engine. You will learn to invest in the market using low-fee, broadly diversified index funds and exchange-traded funds (ETFs).

Grow your financial assets

Now that your financial tree is bearing fruit, it’s time to nourish it for optimal growth.

What Comes Next

Working through these action plans will help you overcome the friction of manual financial management and solve the problem of stagnant savings.

By implementing financial automation, you eliminate the risk of missed payments and ensure your investments happen effortlessly. Once your money is consistently entering the market, you’re giving your money the time it needs to mature and take full advantage of compounding interest. Setting this engine in motion now makes true financial independence a near mathematical inevitability down the road.

Your Next Steps: To accelerate your wealth creation engine, dive into these Action Plans:

Suggested Action Plans

(Available to logged in users.)

  • Building a Bulletproof Emergency Cushion (Intermediate 3-6 month stage)
  • Crushing High- & Medium-Interest Debt (Medium-interest focus)
  • Automating Your Finances for Success
  • Investing 101: Starting Your Retirement Engine