What is Wingonomics?
Our Financial Planning Concept
"Our proprietary financial planning concept is based on our clients financial objectives. The foundation of the concept is to build trust with our clients and to better understand their money mindset. Then, we talk money by looking at our clients spending habits to identify where the money is going, and give them a better understand that up to 40% (or more) of their money is going toward taxes, up to 34% (or more) of their money is going towards debt & interest and they are really only living off 23% (or less) of their gross income. After all of the spending, most have only saved up to 3% of their income for retirement. Our concept allows our clients to learn how to redirect their spending to retain more of their money to achieve their financial goals and helps them focus on creating their own economy; one that allows them to run their household like a business and manage their finances like a bank. This will ultimately give them control over their financial future." Mark A. Wingo - President & CEO
NBFG's Proprietary Financial Planning Concept to Create Your Own Economy
Debt & Interest
At New Beginning Financial Group, LLC, we have a unique and proprietary financial planning concept that consist of 7 Principles of Money to help you “Create Your Own Economy” to achieve your long-term financial objectives.
Principle 1: Change Your Money Mindset
Your situation will not change until your thinking does. Our goal is to help you eliminate what you think you know about money so you can tailor what you need to know about money to create your own economy with our five steps to a balanced life concept; because the only limitation you have is how you think.
Principle 2: Control Your Spending
If you can’t manage your income and control your spending, you can’t be in control of your financial future. We help you develop a spending planner that gives your money a purpose, process how your money flows, and help you manage your finances like a bank to reach your financial goals using our proprietary strategies, concepts and methods.
Principle 3: Eliminate Your Debt
We believe that eliminating your debt, mortgage included, give you access to the capital to build solid financial portfolio on any income, and in any market. Our goal is to help you get out of debt in 10 years or less using our debt elimination strategies and holding you accountable to maintain the proper momentum to achieve your scheduled debt free date.
Principle 4: Reduce Your Taxes
We look at every way you spend your money and invest in your future and create a game plan to make sure every way you are spending your money is working for you as a tax deduction and invested in vehicles that allows your earnings to be tax free or at least tax deferred.
Principle 5: Build Your Financial Portfolio
Our goal is to create a plan that allows your income to make money in an up and down market by purchasing assets, not potential liabilities, to build passive and portfolio income. One of the fears of a vast majority of the country is not having enough money for retirement. If you are tired of your retirement “assets” being gambled away, we can help you get a peace of mind by helping you create a predictable tax deferred and/or tax free retirement income stream using our wealth building concept of investing in "Safe Money Alternatives", investing in building a sustainable business model, acquiring residential and commercial real estate investment portfolio and building an solid investment portfolio.
Principle 6: Be Your Own Boss
The only way to create wealth, outside of having a solid financial plan, is to be an entrepreneur. We can help you develop a plan to not just start a business but build a corporation with systems that don’t require you and with business models similar to most Fortune 500 companies.
Principle 7: Protect Your Assets
Protecting your assets is more than having the proper amount of life insurance coverage; its about protecting your estate. An estate plan that focuses on protecting your assets while you are living and protects your assets from probate.
How we work with you to help you "Create Your Own Economy."
The first step to successful financial planning is to determine your financial goals by understanding your money mindset. Your financial professional will take time to learn about your current financial situation through building rapport. This process typically starts with an initial confidential consultation and completing a Financial Fact Finder Sheet and a Consumer Intake Forms. Completing these forms, along with the initial consultation, will allow our financial professional to become familiar with your current financial situation and develop a series of financial analysis that recommend a financial course of action to help you reach your financial goals.
How can a New Beginning Financial Group professional help you reach your financial goals?
Your financial professional will:
Understand your psychology of life and money behind your financial decision making
Review your financial needs by identifying your income and expenses, assets and liabilities, net-worth, investments and life insurance coverage
Identify where your money is going by looking at the most common financial pitfalls (Spending, Debt & Interest, and Taxes) to determine your Financial “Lifestyle” Number
Identify your need for life insurance to protect your loved ones and/or business relationships
Help you create an lifetime retirement income stream, alternative to your 401k/IRA
Determine your long-term tax objectives by establishing a financial portfolio to secure retirement income streams:
Tax deferred income
Tax free income
Create a plan to determine your financial plans such as creating a spending planner to track your income and expenses, a debt plan to eliminate your debt in a timely manner, insurance plan to protect your loved ones with life insurance, educational plan for saving for your children(s) college education or provide a comfortable retirement.
Create a life financial plan, business plan and timeline that will map out your financial goals and earning potential.
Help with building a residential and commercial real estate investment portfolio; using our proprietary real estate coaching system called "WINoply"
Provide ongoing support. We recommend that your meet with your NBFG financial professional at least once per year to review your life insurance and economy.
We understand that “Life Happens” and your financial needs may change throughout the year. That’s why it’s important to revisit with your financial professional at least on an annual basis to determine if the financial goals are on track. As your lifestyle changes, so does your life insurance and financial planning needs and your financial professional will be there to insure you have enough life insurance coverage and protect your financial future.