Location for Workshop!!

Today we just wanted to update you about the upcoming workshop.  When we originally began posting and marketing this workshop we didn’t have a location yet!  We were so committed to making it happen though we went forward with faith and boldness. :)  We are happy to announce this week that the Financial Freedom Workshop will be held at  Embassy Suites in the Hamilton Mall area of Chattanooga.  This is a beautiful new hotel and those of you who attend the workshop will hear about the amazing way God brought this about.  So for this week, we simply ask you to click here for updated details about the workshop.  You can register online and reserve your seat now.  We look forward to seeing you there!

Financial Freedom: What is Your Freedom Number?

It has been awhile since String of Pearls last posted but we are pleased to introduce Jeanette Comulada as a new guest blogger.  Check her out here and enjoy her post!

-Jeanette Comulada, MBA

 Financial Freedom Number

It was six years ago that we were asked this question by a mentor and friend that sparked my interest in what was to become the start of my biggest life mission. My then fiancé, Scott had just popped the question, and it was only dreams of a fairy tale wedding, along with a fabulous honeymoon destination that was on my mind–not my Financial Freedom Number.”We don’t even know what that means”, we responded. So it was then, that my journey began..

Just to give you a brief description of us, we are your typical American couple who followed all the “house rules” set by our families growing up. We were told to go to school, get good grades, get into a good college, get a degree and a good job (with benefits) and retire at the ripe age of 65. Oh yes, and along the way save your money…exactly how much and where to was never really specified.

Scott and I followed these rules, and excelled in them. My husband holds a Doctorate in Statistics, and I have an MBA. We both have successful careers in our fields, and liked to think we were “right on track”. But it was that fateful evening sitting across from our Financial Planner that we both realized just how much in the dark we really were when it came to one of the most important aspects of our lives: Our Financial Freedom.

Fast forward six years, and on the other side of the table, wearing the “Financial Planner” hat, I am here to tell you that not much has changed with American families everywhere. I counsel  families, single, married, young and old and from all walks of life. I have seen the pain and suffering that “being in the dark” has brought to many of them. I have also seen the joy and the Financial Freedom that families everywhere are experiencing by having a Financial Plan–and following it.

Statistics are daunting . See them for yourself:

  • A staggering 29% said that they have saved less than $1,000.
  • 25% of all families have no savings at all.
  • More than 68 million U.S. households do not have an IRA.
  • 77,000,000 people in North America have no life insurance to protect their loved ones
  • Total Revolving credit card debt in America as of September 2012 is 852 Billion dollars. That averages $7150 per household

Finding out your Financial Freedom Number does not have to be a difficult task. Sitting  down with a capable planner you trust is key. Together, you can set a goal you have in mind and come up with a game plan to achieving it.  Just like you would not fix your own car (unless you are qualified to), you should not attempt to do this alone.

For example, let’s say you’re 30 years old and you have a goal (Financial Freedom Number) of 1 Million dollars by age 65. Let’s also assume that you have $50,000 saved toward that retirement goal of $1 million, and that your investments will earn a 7% annual return. To reach your goal, you would only need to save $3,372 per year–that’s $281/month. A 50 year-old will have to save over 10 times that amount – $34,305 per year–$2858.75/monthly!  Timing is crucial. And it is never too late to start. 

Yes, that “a-ha  moment” I had six years ago brought my husband and I to a different place in our lives. It also brought me to a life mission that I would like to share with the world–especially women.

I know my Financial Freedom Number– Do you?

What would it take for you to find out if not?