12 Steps to Financial Freedom and Their Lasting Effect on Your Life

This short blog by Cherif Medawar was picked up by Forbes and became a chapter in Steve Forbes's new book SUCCESSONOMICS.

Here is a quick recap of the 12 steps that people should go through to achieve the ultimate financial freedom. Most people get “stuck” at one level and become unaware or unable to grow further. At CMREI we provide consultations and personalized guidance to get people to their next level to reach their ultimate potential.

The 12 steps to financial freedom:

1. Education (academic- professional - financial)

THE KNOWLEDGE EFFECT

2. Corporate job (stable income- good systems and structure)

THE PROFESSIONAL STRUCTURE EFFECT

3. Leadership (Learn to manage self, others, and projects)

THE BUSINESS SENSE EFFECT

4. Saving: (Put some money aside each month)

THE CASH RESERVES EFFECT

5. Build credit (Personal and business credit)

THE LEVERAGE EFFECT

6. Flip assets: (Buy and sell assets)

THE FAST GROWTH EFFECT

7. Tax: (Deduction, reduction, deferral, and avoidance)

THE COMPOUNDING EFFECT

8. Buy and Hold Assets: (Future streams of income)

THE CASH FLOW EFFECT

9. Asset Protection: (Strip all equity legally)

The POWER EFFECT

10. Special Life Insurance: (Private Placement Life Insurance)

THE PEACE OF MIND EFFECT

11. Teach others: (Write- Speak and share)

THE CONTRIBUTION EFFECT

12. Charities and Good causes: (Give back)

THE LEGACY EFFECT

Wishing you the ultimate success,

Cherif Medawar

www.CMREI.com/Forbes