A financial advisor outlines seven wealth-building steps, starting with a Roth IRA, which he calls a major missed opportunity. The framework covers setting a debt payoff date, building an emergency fund, getting life insurance, and writing a will.
If you're lucky enough to qualify for a Roth IRA and you don't own a Roth IRA, you're probably making the biggest financial mistake of your life. So if you qualify— so some of you are not going to— we're not going to go into what if you qualify for it. If you're under a certain income, you qualify. So now you're going to build wealth. And here's the next question: Do you have a debt freedom date? Do you know the date you're going to be debt-free? Here's another question: Do you have a separate emergency fund? Here's another question: Do you have the right type of life insurance? Do you have enough life insurance? Do you have a will? These are all products and services that we offer. When you start to really look at our business and what we do, it comes down to these 7 simple fundamentals.
