Welcome to the guide you need to build your financial kingdom! As with most large undertakings, building your financial kingdom doesn’t happen overnight. Real kingdoms don’t either; the appropriate steps must be taken.
First, you begin with a building a solid foundation. We raise the walls. We set roofs. In other words, we weather proof. Next, windows provide vision, keeping us aware of changes and allowing us to adapt. Our kingdom then fortifies: the army, the moat, the weaponry all raise our defenses. Last but certainly not least, decorations. Decorations to give that extra touch showing our Kingdom as ever greater. You’ve come to the right site, we’ve created the blueprints, and you are your own workforce. It’s your time. Take your first step. Let us commence.
Build Your Kingdom – Laying Your Foundation:
- Consistent income
- Budget and track your income
- Make a commitment
Build Your Kingdom – Constructing Your Walls, Roof, and Windows:
- Contribute up to company match in 401K
- Build your emergency fund
- Get a credit card
- Build your milestone map
Build Your Kingdom – Fortifying Your Castle
- Are you on an HSA qualifying HDHP plan?
- Max out your HSA
- DoD Health Savings Account (HSA) 101 P1
- Are you a high earning professional?
- Yes – max out traditional IRA
- No – Max out Roth IRA
- Max out 401K contribution
Build Your Kingdom – Decorating
- Tax placement for investments
- Building your taxable brokerage accounts
- Optional – investing in rental properties