Create Your Freedom Fund!You’ve probably heard by now that you should be saving for retirement and the earlier you start -- the better.

My name is Kris Miller, and I’m the “Money Maestro” with the #1 best-selling book called “Ready for PREtirement: 3 Secrets to Safe Money and a Fabulous Future”

My work over the past 23 years with over 5000 clients has allowed me to see the mistakes most people make with their money and the simple strategies that everyone can implement which allow them to never outlive their money and leave a legacy for their children and grandchildren. Money is often a touchy subject, and it’s helpful to have some basic guidelines to follow from someone you can trust.

Here are 5 simple steps to follow NOW to effectively start planning for your “Freedom Fund” and allow you to leave a legacy for your family. The younger you are the better – so let’s get started!

Step 1: Adopt a Mindful Spending Attitude

Mindset: Adopting a “mindful spending” attitude is crucial to creating your “freedom fund.” Your freedom fund is what will allow you to truly enjoy your life – no matter your age -- and not be worried about how to afford emergency expenses or whether you can take your family on vacation.

The first step in creating your freedom fund is investing in it! The more you adopt mindful spending practices, the more money you’ll have left over each month to invest into your freedom fund. You’ll see this in Step #4.

So: I charge you to think about your spending and ask yourself: “How is this purchase adding value to my life?” and“Would I rather invest into my freedom fund or purchase this item?”

Adopting this mindful attitude could add hundreds of thousands of dollars to your freedom fund based on your spending levels – due to the power of compound interest!

Kris MillerM o n e y M a e s t r o

k r i s m i l l e r m o n e y m a e s t r o . c o m

Create Your Freedom Fund!Kris Miller

M o n e y M a e s t r o

Step 2: Eyes on your Debt

Mindset: Many of us keep our heads in the sand because it’s too stressful or overwhelming to actually take a look at what our debt is and what we’re actually spending to pay off this debt. Know that we all have debt and the minute we face the truth ourselves, we begin to overcome the challenge.

Take the time to list out every single debt you currently have including student loan debt, every credit card outstanding balance, private loans, home mortgages, etc. Use the chart below to help.

Debt Interest Rate Balance ($$)Ex: Student Loan, Credit Cards, etc. Ex: 7.8% Ex: $97,000

Step 3: Track your Inflow & Outflow: Cash Flow Projections & Analysis

Mindset: Words like “cash-flow” and budgeting tend to stress most people out. It sounds confusing and intimidating. But actually, it can be very simple. Once you understand what’s coming in and what’s going out of your bank account, you can begin to invest in your “freedom fund” and your legacy.

1) Write down your monthly take-home income. If you need to, take a look at your bank account to see how much is actually deposited into your account every month.

2) Write down what you are spending money on each month by looking at your last month’s spending. Then, write out what you actually desire to be spending. Use the chart below and add or delete categories as required.

Category Last Month’sspending

Groceries

Eating Out

Rent or Mortgage

Clothing

Entertainment

Personal Care

Gifts

Car Payment

Gas

Insurance (health, car, home, rental)

Kids

School Fees

Debt payments

TOTAL MONTHLY EXPENSES

Desiredspending

Step 4: Know your Disposable Monthly Income.

Subtract your total monthly expenses (from the above chart) from your total monthly income. The remainder is your monthly disposable income. Note: If you are in the negative, review step #1 about mindful spending and adjust the “desired spending” column above to reflect new numbers which will allow you to spend less than you earn. Assuming you at least have $1 leftover at the end of the month, this is the money you can use to save and invest in your “freedom fund!”

YES!

k r i s m i l l e r m o n e y m a e s t r o . c o m

Create Your Freedom Fund!Kris Miller

M o n e y M a e s t r o

Step 5: Creating your “Safe Money” Freedom Fund

Most people don’t know that you can invest into your “freedom fund” and retirement through safe money products – which means you will never lose your principle! There are three principles you need to know when investing in your retirement:

1. Preserve your Principal2. Maximize your Return3. Minimize Taxes

In my 23 years of experience serving over 5000 clients I’ve found that there are 2 specific strategies that most people don’t know about that accomplish all of the above:

These two strategies are called “safe money” strategies because they are sparked into an investment vehicle that can generate interest without the risk of losing principle -- like what happened to so many people when the market crashed in 2008.

The first strategy is called a Fixed Index Annuity (FIA). These products can generate growth between 5 to 8 percent and offer safety of principal. But know this: not all annuities are created equal, so employ a financial planner to find the right annuity for you.

Conclusion: Thinking about your retirement in terms of creating your “freedom fund” will enable you to truly enjoy the lifestyle you desire and not tie you to working for something or someone you’re not passionate about. It allows you the flexibility to do what you want, travel, contribute and make a meaningful life!

Cheers to you and your Freedom!

Bonus: The Babe Ruth Story

Did you know? Not one person lost one dollar in an Annuity in the Great Depression! They are safe. In fact, Babe Ruth had an annuity during the depression and had a financial planner named Christie Walsh during that time. He was smart. Well actually, she was, and he listened to her. When the market crashed, his money was safe from market loss – he didn’t lose $1 dollar!

The Fixed Index Annuities accounts offer tax-deferred growth, so you don’t pay the taxes until you take the money out. Fixed Index Annuities (FIAs) have no annual contribution limits as long as they’re in a flexible premium annuity. They can actually guarantee a death benefit for your beneficiaries and there are no penalties for mandatory distributions at age 70 ½. They give you an option of receiving guaranteed income for life. Or they can actually offer a guaranteed minimum income benefit account for life, without having to annuitize.

Some annuities have income riders on them, and they have 5-7% roll up rates for money that you can never outlive. Imagine that; money that you would never outlive. By utilizing these products, you avoid probate, and allow for participation in market increase without market loss. These are some of my favorite places to store money.

The 2nd product no one tells you about is called the Indexed Universal Life Insurance product (IULs). This is relevant especially for younger people. If you’re age 30 plus, I recommend you looking into IULs, which provides guaranteed income during your, lifetime, targeted at any age you want. The income you will receive from an IUL is 100% tax-free and guaranteed for life!

k r i s m i l l e r m o n e y m a e s t r o . c o m