Steve's Financial Freedom Gameplan

Purpose

This template helps you track your journey toward financial freedom by calculating your total assets, liabilities, average monthly income and expenses, and your progress toward key savings goals. It offers a comprehensive view of your current financial health and estimates the lump sum or passive monthly income you'll need to reach financial independence.

Key Features

1. Total Assets & Liabilities Overview
   Displays the current value of your assets and liabilities, giving a snapshot of your overall financial standing.

2. Monthly Income & Expenses
   Shows average monthly income and expenses to give you an understanding of your financial inflows and outflows.

3. Savings Fund Tracking
   Monitor specific savings goals like a Kids College Savings Fund or New Car Savings Fund with progress indicators for each.

4. Financial Freedom Calculator
   Calculates the lump sum required to reach financial independence, as well as the passive monthly income needed to cover expenses without work. An adjustable slider lets you explore different ROI (return on investment) rates.

5. Net Worth Growth
   Visualizes your net worth trend throughout the year, helping you keep track of your progress.

6. Total Net Worth Breakdown
   Lists all your financial accounts, with real-time balance updates for each, giving you a clear view of your net worth.

How to Use this Template

1. Import the Template
   Add this page to your Fina account to begin tracking your financial data.

2. Link Your Financial Accounts
   For each section (Assets, Liabilities, Savings Funds), click on the block, select "Edit" and use the Account Selection filter to link your financial accounts.

3. Adjust Savings Goals
   Customize the Savings Funds section based on your personal goals, such as retirement, emergency funds, or large purchases. Update the goals’ total targets and track your progress.

4. Financial Freedom Calculation
   Use the slider in the Financial Freedom section to adjust your expected annual return rate and see how it affects your required lump sum and monthly passive income.

5. Net Worth Tracking
   Review your net worth growth over time in the Net Worth Growth section. Make sure your accounts are linked to ensure accurate updates.

Customization Tips

• Personalize Savings Goals: Replace the default savings goals with your own targets (e.g., travel, house down payment, etc.). Adjust the amount and progress tracking accordingly.

• Tailor ROI for Financial Freedom: Play around with the ROI slider (4%–20%) in the Financial Freedom section to model different retirement or financial independence scenarios.

• Update Categories: Add more specific account types in the Total Net Worth section to capture a full financial picture.