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	<title>WIRL Project &#187; financial indepence</title>
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	<description>What It&#039;s Really Like.</description>
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		<title>How to Become Financially Independent</title>
		<link>http://www.wirlproject.com/how-to-become-financially-independent/</link>
		<comments>http://www.wirlproject.com/how-to-become-financially-independent/#comments</comments>
		<pubDate>Thu, 02 Apr 2015 09:00:00 +0000</pubDate>
		<dc:creator><![CDATA[Phil Gleason]]></dc:creator>
				<category><![CDATA[Work/Money]]></category>
		<category><![CDATA[3 basic concepts]]></category>
		<category><![CDATA[financial indepence]]></category>
		<category><![CDATA[How to Save]]></category>
		<category><![CDATA[Life Savings]]></category>
		<category><![CDATA[Money]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[Savings]]></category>
		<category><![CDATA[steps to retirement]]></category>

		<guid isPermaLink="false">http://www.wirlproject.com/?p=4856</guid>
		<description><![CDATA[&#160; Retirement is a concept that continues to experience transitions. Becoming financially independent is difficult, but it is also possible. Historically, only 5% of people are able to retire and maintain financial independence. Most have never created a financial plan. A plan is critical for achieving your financial goals. &#8220;Nothing splendid has ever been achieved except by those who dared believe that something inside them was superior to circumstance.&#8221; &#8211; Bruce Barton First, what is financial independence? Based on recent surreys it means you have no debt, you have saved enough to meet your needs, and have on-going income to fund the rest of your life. Getting to this point is different for each person. Here&#8217;s three basic concepts to apply: 1. Save up to 20% of your gross income into a tax qualified plan. Each dollar saved into your retirement account automatically gives you a 25-30% return, just from savings in the taxes. Any positive return on your portfolio creates a significant compounded total return. If you can&#8217;t do 20%, start at 10% and increase it each year until you get to 20%. 2. Give away at least 10% of your income to your church or a non-profit agency. Learning to live a generous life style has many positive. Giving is a personal matter determined in your heart. Giving requires resolve. It needs to be planed and deliberate. It should be done privately, not publicly. Giving helps everyone. Matthew 10:8 says, &#8220;You have been treated generously, so live generously.&#8221; 3. Live on whatever is left over. Crazy? Not at all. Think about it. If you are spending 100% of your income today, how will you replace it when you no longer have the ability to produce income? Let&#8217;s assume that your have your home mortgage paid before you retire. Inflation never retires. your expenses will actually increase. Many fear the rising costs of healthcare. You have to have a plan. Start today. 1. Pay off all debt, including your mortgage. 2. Set up a plan that will provide you income for retirement. 3. Keep your living expenses as low as possible and look for additional ways to save. 4. Follow the basics. Save 20% of your income, give away 10%, and live on whatever is left over. 5. Develop a sound investment strategy that will work for the long term. Don&#8217;t allow fear and uncertainty to move you from your objectives. Start today. http://www.gleasonam.com/Our-Firm.2.htm]]></description>
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