In today’s Finance Minute, let’s talk about the Importance of knowing Your Top 3 Key Numbers. If you are serious about succeeding financially you need to know these Numbers and can break it down easily and effortlessly.
- Monthly cashflow
- Net worth
- Annual Retirement Income needs
Monthly cashflow simply means you know how much money you have coming in and going out every month in your household and in your business. If you don’t know you can easily go to draining your family income because you just keep spending or using your credit cards irresponsibly.
Net worth is assets minus debts. Which means you should know your total assets and your total debts even with your eyes closed and in order to succeed Financially this number should be growing annually. The rich don’t talk about income growth they talk about net worth growth because they know net worth is not taxed income is.
Finally, you need to be clear how much annual retirement income you need when you retire so that you are doing everything you can right now to prepare for that future.
Please like and share this video and make sure you know your Top 3 Key Figures like the back of your hand.