Wealth is Good
Cash Flow Is Better

We’re surrounded by financial advice, often in the form of lists containing 10 (or 25! or 50!) things you can do to help solve a particular problem. While much of this information is useful, it can also be overwhelming. Where do you begin? On what things should you focus your efforts?

I’d suggest starting with the end in mind – with your ultimate goal – and let that guide you to the highest impact, and therefore the highest priority activities to help you achieve it.  For most of us the end goal is financial independence.   Financial independence can be defined in many ways, but most would agree that in general it requires accumulating enough wealth to no longer rely on income from a job.

Okay, here’s where focusing on the highest impact activities comes in.  For most Americans only two financial items generate around 80% of their wealth: real estate and retirement savings.  Let’s tackle one of them, retirement savings.  If you get that one thing right then hundreds of other, lower impact activities won’t matter much.

Here’s how.   Read the full article at http://www.wisebread.com/this-one-thing-will-get-you-to-1-million-tax-free

Keith Whelan is Cashflownavigator's founder and author of the "Wealth is Good, Cash Flow is Better" e-booklet. He is a graduate of Columbia University Business School, teaches at Rutgers University, and has over 30 years experience in the banking and financial services industry. Keith, his wife Cindy, and their two sons live in New Jersey.