Why have a financial foundation?

I drew this little picture to represent what matters.  We define True Wealth as health, balance, and building a solid net worth foundation.  From that foundation one can support a life of financial freedom.  The financial foundation figure may be different for each person. If you live in a low cost of living area, have a house paid off, then perhaps your foundation is $300,000?  If one lives in a high cost of living area, perhaps you need $1 million invested?  The block on the bottom represents the million dollar net worth portfolio you may want or need to build.  It is the foundation that supports the truly important things in life: family, experiences, creativity, health, etc.

One of the main themes of The Money Vikings is to arm ourselves with the habits and tools to build our foundation and conquer financial freedom.  We cannot overstate the importance of automatically stashing cash every single paycheck.  In my mind this automated habit is the main way to build wealth.  And don’t forget to start now!  People may start living longer, therefore it’s never too late to start.

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