Individual Planning

(Updated October 23, 2010)

There are a few things a person needs to do to begin to become financially independent, they are:

1. Write a Life Plan of what you want to do, who you want to be, and what you have done. Include your values, roles, and goals.

2. KNOW what you spend and how you are spending.

3. Have a "must have list" and a "nice to have list".
A. Buy from the "must have list" at the cheapest location available, and ask for discounts.
B. Buy from the "nice to have list" only when you have six months of expenses in the bank and three times the amount of the item saved as well.

4. The first 10% of each income source should go to a charity or good cause of your choosing. (This should be an income tax reducing cause, which increases your value each year in the form of tax benefits.)

5. Set up a Living Trust. Place your fixed assets in the trust. (Your house, car, etc. (although are actually liabilities more than assets), your gold, silver, etc.)

6. Buy instead of rent your house. Be creative in your purchase. (Real Estate is one of the best ways to increase your wealth, take the first step and own your home. ANYONE can buy a house if you are creative in your purchase! By being creative you are finding alternate funding sources, various ways to decrease initial (if any) outlay of cash, etc.)

7. Buy more real estate as you can. Again, be creative in your purchases. These new purchases need to be cash flow positive properties. IE, multi family homes, appartments, business suites, etc. Ones in which you have an income source. Do not buy undeveloped land, or second/third/fourth homes for yourself, unless you rent them out.) Use OPM (Other People's Money) to buy the properties and let the rent pay the mortage and expenses, and give yourself a bit left over for a passive income.

8. Invest in Gold, Silver and/or other commodities such as oil.

9. Begin generating multiple streams of residual income. A person, or company, can only create wealth if they have multiple streams of residual income to fill their coffers. Residual income is income that comes in while you are idle. It doesn't require continued action on your behalf to make it work. (If you want it to increase your residual income, it will require continued action though!) To understand more about residual income, click here.
A. I use to recommend that you create a Neveda corporation, but over the past few years, I have found that it is often better to create a company in the state in which you will be doing the majority of your business, often the over all cost is less. But you MUST create a C Corp to protect yourself and to manage your income sources!
- Talk with an attorney in your area to get legal advice about owning a company.
- This may not always be a good idea, but often is.
- TDBell Enterprises, Inc. is not a legal service and provides no legal advice.
B. Begin Network Marketing. Network Marketing is the talking to people you come in contact with, be it on line or in person. If you would like to find out what TDBell Enterprises, Inc. is involved in, Network Marketing wise, check here.
C. Invest in Tax Lien Certificates or Deeds. You can make from 12 to 50% returns on your money in one to three years!!
D. Write a book!! EVERYONE has something they can write about. Be it a "rags to riches" story of your life, a novel based on truth or fiction, your observations -- pretty much anything. Put that in writing and get it published either on line or via a publisher. (Be looking for Don's book in the near future!)
E. Evaluate and select at as many other avenues of income that comes your way after you start earning the money.

9. As you go along in life gather tools that help you keep track of what you are doing in life, and grow in life. To reach this end we highly recommend the following books that may help you.

Now, in building Multiple Streams of Income, we do not recommend that you join a bunch of affiliate programs or several MLM/Network Marketing/Direct Sales companies. What we are saying is: 1) Find a company and product that is Network Marketing based, 2) begin building your stock portfolio, 3) write your book (maybe on the steps you have taken so far to raise money?) 4) buy your house, and 5) buy more real estate. THESE are your multiple streams of income!