There are a number of ways to achieve financial freedom. Whether you are looking to expand your passive investments, grow your existing business or establish a blueprint to eventually exit your business on your terms, Leadership League's Freedom Coaching can help.
Our definition of financial freedom: When your monthly passive income exceeds your monthly expenses. In other words . . . the number of days in the future you can maintain your current standard of living without working in your business or someone else's business.
IRS definition of passive--Generally, a passive activity is any rental activity OR any business in which the taxpayer does not materially participate. Non-passive activities are businesses in which the taxpayer works on a regular, continuous, and substantial basis.
Leadership League's Freedom Coaching works with individuals who are interested in achieving financial freedom. In a freedom coaching relationship, a team of financial experts work as a board of advisors to determine the current reality and preferred future of the client. Together we identify the necessary steps to reach the individual's financial goals. Some solutions include: succession planning, exit planning and creating a personal investment plan.
Leadership expert, John Maxwell, says, "There is no success without a successor." Many business owners feel stuck within their own businesses realizing that the company can not succeed without their day to day involvement. For leaders who seek retirement in the near future, Leadership League provides succession planning solutions which help the leader assess the needs of the company and properly identify and develop a successor.
Other business owners choose to exit their business through a sale, acquisition or merger. Working with Leadership League partner companies, Cottrill Arbutina and B&A Capital Advisors, we develop comprehensive solutions relating to mergers and acquisitions, business valuations and exit planning to assist in a smooth transition. Following a successful exit, our coaches offer advice on how to reinvest the capital into passive income investments providing a maintained standard of living for the client.
For business owners and non-business owning leaders, freedom coaches can help leaders develop a personal investment plan, laying out the necessary steps toward financial freedom. The coach's main focus is to increase financial literacy in the leader helping them learn how to make the shift from depending on a high paid position to having a passive income stream. Each Personal Investment Plan differs based on the unique situation of the leader.
