I decided to review my progress on the Wealth Pyramid (also called my Financial Pyramid) that I created below. You can also view the pyramid as levels, or even a journey down the sidewalk of success.
Back to me! So far, I’m still at the “Action Plans For Wealth Development” level! While I have some of the elements automated (401k, Life Insurance, etc), I’m still working on the non-retirement wealth accumulation part. I’ve been waiting for my tax return to be deposited in my checking account before I start this piece, but that has happened this past weekend. Now I need to focus on where to put that money. Hopefully, I’ll blog about my decision by the end of the month.
Once I get the “Action Plans” level running, it will be a short jump to the “Asset Accumulation” phase, where unfortunately, I’ll be stuck at this level for at least a few years. Now that my house is paid off and I’m totally debt free, I’ll have extra money for Asset Accumulation!
I don’t expect to get to the Financial Independence level for at least 10 years, and that’s if everything goes well.
Realistically, I don’t even expect to get to the top two levels (Gates and Wealthy), but the picture wouldn’t be complete without them, so I added them just to be whole.
For a better analysis of each level, check out my original post which explains each level in greater detail… Click “here on My Financial Pyramid“.
Now on to my “Wealth Strategy Pyramid”!
I like to think of things from different angles, it helps me get a more three-dimensional feel for abstract thoughts.