The MoneyIQ Assessment evaluates your mindset, behaviours and results when it comes to making and managing money. Essentially personal financial management is about money coming in (income) from work or investments and money going out (expenses) to pay for bills. What you are left with is savings which you can they use for investments to build your wealth.
INCOME - EXPENSES = SAVINGS
A Maker Manager is someone who actively goes out to make money and manage the money they have. They spend it responsibly and invest it wisely, thinking about the long term. For a Maker Manager the focus should be how to be more proactive with making and managing money and taking their MQ to the next level.
A strong, proactive Maker Managers income should be in the upper bracket for their occupation. If they run their own business then it is likely to have good revenue. There are probably still some ways Maker Managers could package and position themselves to serve more people, offer greater value and increase their income. Strong Maker Managers in the upper income bracket may be paying more tax than they should. Maker Managers should get advice and look for ways to legally minimise their tax.
The biggest challenge for a Maker Manager is to convert their work income into assets that will generate a passive income and allow them to build their wealth. Get financial advice and look into tax effective investment vehicles like self managed super funds (SMSF) and trusts to plan for retirement and pass assets to the next generation. Maker Managers should be careful who they get advice from. They should find a money mentor practices what they preach. They will have a much deeper understanding of the wealth creation journey.
The most important thing for a Maker Manager is to continue their financial education and increase their money intelligence.
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