Financial Intelligence Number
Do you know your Financial Intelligence Number (FIN)? Most people do not know what this number is or how to achieve this number. This is information that is not taught in schools. In order to fully understand how to achieve this number, you must first understand how money works. Your Financial Intelligence Number is the amount of money you need to accumulate, so you don’t have to rely on a paycheck anymore. Everybody should know their FIN, so that they can make smarter decisions with their money. Once you understand how money works, your FIN is easy to achieve. I have been in the Financial Services Industry for over 25 years now, and when I ask my clients this same question; most of them are shocked. After finding out their FIN, they want to know what they need to do to achieve their own FIN?
When talking to individuals and families about this important concept, that everybody should know, this is not always a comfortable or pleasure conversation. Once these individuals find out their FIN, they can now develop a plan to help them to reach this number. We spend a lot of money going to great institutions of higher learning, but this information is not taught, just like another concept that is closely related to this number, and that is the Rule of 72.
The Rule of 72, will simply tell you how long it will take your money to double by dividing the interest that you receive on your money divided by 72. For example, if you had $25,000 dollars in your savings account and it was earning 3% interest, you would divide this number into 72 (72/3 = 24 years). So, if you didn’t add any more money into your savings account, it would take 24 years for your initial deposit to double to $50,000 dollars.
Knowing these simple concepts will help you to understand how money works and how it is directly related to achieving your Financial Intelligence Number. Not everybody has a Financial Advisor or Financial Coach, which means most people will never know their FIN. If you are one of these individuals, who doesn’t know their FIN, let me help you out, by helping you to figure this first step. Please contact me by email to receive the FIN link, so you can find out your Financial Intelligence Number in minutes.