SFO, the Plan to Financial Literacy
SFO: (Structured Financial Order) is what you are going to need to establish a path to financial freedom, call it what you like. If you made it this far, you deserve an explanation on what needs to be done to get to a certain place you want to be in your financial journey.
What is the S.F.O. (Structured Financial Order), It's a set of processes that should be put in place to operate from. Every successful individual, every corporation or any institution has a written plan. A plan structured in order that ensures their success. As an example, why are most franchises successful? because they follow a proven and tested plan. A process created by the original builder of the business. Success does not come by chance, lots of learning must take place. A specific set of processes, a great deal of discipline must be adhered to by anyone, any family or any organization seeking success.
You may say, I don’t have enough money to even start to plan and save. The real question you should be asking is where do I begin? Even self-made millionaires had to start somewhere.
To accomplish this, you don’t need lots of money, just an income will suffice. All you need is an income and the will to live a better life. The amount of income you earn does not matter. Whether you earn $20,000.00 or $250,000.00 the SFO works the same way.
The 9 steps of the SFO:
1. Build an emergency fund.
2. Open a tax deferred brokerage account.
3. Pay off high interest debts.
4. Open a high yield saving account.
5. Open a Roth IRA and an HSA.
6. Fully fund your retirement accounts.
7. Start making plans for your retirement, you’re never too young to start.
8. Pay forward future expenses.
9. Pay off your low interest loans.
Follow these 9 steps religiously and consistently. Once your finances are in order, you can breathe a little easier.
Get in contact with us and be on your way to a better and prosperous future.