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The Financial Pyramid is a visual aid to help understand the necessarily steps to pursuing financial freedom, just like a pyramid it has several layers starting from the base to the tip. If you climb the financial pyramid in the specific order and one level at a time you should have a sound financial plan and be able to weather short periods of financial hardship without jeopardizing long term goals.
This crucial stage in planning will provide you with a cushion, in case of an unexpected event causing you to dig into your savings or jeopardize your long-term financial goals.
This is the stage most people start their financial plan to gain financial freedom. The purpose here is to build your wealth and diversity of investments.
As an extension to the second level, you can start building non-registered investment portfolios and detailed investment strategies for growth.
We will consider;
This phase is addressed once you have reached a level where your debt is low or zero, you have enough retirement funds and wealth accumulated in your investments.