My Personal Finance Pyramid
A few years ago I decided to create a road map while I slowly climb my way up a financial pyramid, trying to acquire more wealth! I see such a climb as a struggle towards building wealth! A pyramid (based off of Maslow’s Pyramid of Needs) seemed to be a great representation of such a wealth pursuing journey. In many ways, it helps me visualize the various levels and created milestones for me to watch for, since I love feedback! So without further ado, here is my update on my progress climbing my “Personal Finance Pyramid“!
Asset Accumulation Phase
Yes! After spending too much time stuck at the “Action Plans For Wealth Development” phase, I can finally state that I’ve crossed the threshold and that I’m firmly in the “Asset Accumulation” level on my Financial Pyramid!
Why was I stuck at the “Action Plans For Wealth Development” for so long?
Originally, I expected to only spend a short time in the “Action Plans For Wealth Development” phase, but the “The Great Recession” took it’s toll on my planning and caused me to spin for a while, trying to decided what to do. Fortunately, my money was still swelling from the fact that we paid off the mortgage on our house early, and so I had a small pool of cash available for investing and purchasing other assets.
Upper Middle Class still at a Distance!
I had hoped to be closer to this level by now, but the economy and work hasn’t worked out according to my plans. I could also make the excuse that my wife is a SAHM and even point out this article “Income Loss From My Wife Being a Stay at Home Mom” that makes a great case that we should have been millionaires by now, but really if I wanted it bad enough, I could have worked harder all along.
How Things Are Different on my climb up my “Personal Finance Pyramid”
Having a personal finance pyramid for the goals in combination with personal finance spreadsheets (home grown), really help me keep my eye on the ball. Another big thing that has changed is that I want to start having bigger and better experiences by traveling more often, especially overseas! And finally, a huge change is that I totally believe that it’s possible for me to get to some of those higher levels on my personal finance pyramid. You see, most people don’t even try, so just believing and continuing to worker harder and smarter puts me at a huge advantage!
I’m hoping for the best! What are your thoughts?