Module 2 How much money will I need? - The Owner's Edge

getagripcourse.com Module 2 / Page 1© Ray Croff

Module 2 How much money will

I need?


Module 2: Key Points• Your future lifestyle drives the budget you will need in the

future. Your LIFE (Life, Influence, Finances, Experience) and legacy goals have a significant impact on your finances.

• Any of your wishes that are not legally recorded won’t happen.

• A detailed cash flow analysis relies on assumptions about your life, what you plan to spend, and your income sources.

• There are tools that can predict the likelihood that you’ll have enough money to do what you have envisioned.

• You can build the value of your business to supplement your future income and make your dreams a reality.

The workbook is designed for you to:• Take notes while you’re watching videos.

• Apply your learning to your business (assignments).

• Prepare for and take notes during roundtable discussions.

How to Use This WorkbookYou can print this workbook and write in the blanks OR fill it in on your computer.

To fill in the workbook on your computer:

1. Download the workbook.

2. Open the workbook with Adobe Acrobat or Adobe Reader. Download Adobe Reader at https://get.adobe.com/reader/.

3. Click in a blank field and begin typing.

4. When you are done, choose File > Save As and save a copy of your completed workbook for your reference and to use during the roundtable calls.

https://get.adobe.com/reader/


Lesson 1 What do you want to do?Future Budget Future Lifestyle

LIFE Goals

Labor

Influence

Finances

Experience

Funding Your Future


How Much Will I Need?

Master Plan: Goals and Plans for your Personal Life and your Business


Lesson 1 AssignmentWhat ideas appeal to you about how you might want to invest your LIFE in the future?Labor

Influence

Finances

Experience

How might you reward yourself for creating a valuable business?


Lesson 2 What do you want to leave?

People

Causes

Financial Gifts

Involving Family


Estate Plan

Will

Trust

Powers of Attorney

Health Directives

Master Plan: Goals and Plans for your Personal Life and your Business


Lesson 3 How long will the money last?Future Expenses Lifestyle

Health Care

Long-Term Care

Passion Projects

Legacy Giving

Future Income SourcesSocial Security

Annuities

Investments

Real Estate

Pension

Estimates and AssumptionsWhat is a reasonable inflation rate?

What about a rate of return on your investments?

Big-Ticket Wants


Bob and Barb’s Story

Bob and Barb’s Expenses

Bob and Barb’s Wants

Bob and Barb’s Income

Bob and Barb’s Portfolio

Bob and Barb’s Cash Surplus/Deficit (Net Income)

Bob and Barb’s Confidence Analysis


Lesson 3 AssignmentBegin listing some of the sources of income and projected expenses in your future:

Income Expenses


Lesson 4 Your business can do this!Refer to the rest of this Workbook as you watch the summary video.

Lesson 4 AssignmentWhat questions might you ask your advisor (and/or those in your roundtable)?

How do you want to apply what you’ve learned in your business?


DiscussionWhether you’re working privately with your expert/advisor, or participating in an Owner’s Roundtable, please bring your workbook. This section is for capturing your thoughts during that conversation.

Questions

Expert Reflections

Discussion


My Application

My Takeaway

Documents

Module 2 How much money will I need? - The Owner's Edge