This is the final stage of the plan.  Let's review what we've already discussed before digging in.  First, you put a small emergency fund together.  Next, pay off all of your debt except the house.  Then give your emergency fund some muscle by building it out to 4 months of expenses.  Next, start your retirement fund and college funds for the kids if you have them.  Then pay off the house.  Finally, take what was your house payment and invest it to become incredibly wealthy.

So, we've made it and we're on our way to becoming wealthy beyond what we dreamed we would ever have.  What does it look like?  Let's assume for the moment that your house payment is $1000 per month.  Some you have more, some have less.  Let's say that you have the house paid off by age forty.  How much would you have by retirement at age 65 at an interest rate of 12% percent.  I've run the numbers and you will have… (Drum roll please!)

$1,897,635

Does that number excite you?  Does it amaze you?  Remember that this doesn't include any of your retirement savings.  If you follow the plan, you may easily have several million dollars available when you retire.  You will still need to live on a budget.  You will still need to live on a certain amount so that you don't run out.  Remember… If you are poor, do what the wealthy do and become one of the wealthy.  If you are wealthy, do as the poor do and you will become poor.  Live on less than you make, save, be wise, and a blessing to others.

Where do you put this money?  First, you need to find a good mutual fund broker.  Someone who is willing to take the time to explain what you are putting your money into.  You should be able to easily explain it to a friend, and you must understand the investment before you put your money into the investment.  Don't put money into something just because you read it here or heard it on the radio.  You are responsible for you.  You need to have a basic understanding of the investment you want to invest in.

General rules of thumb: When looking for a mutual fund you want to find something that has a long history, say 10 or more years.  You are looking for something with a minimum of a 12% average return.  The key here is average return.  This means that some years your money will grow 20% while other years it may lose 5% but overall it averages 12% or more.  You are looking for lower turnover rates.  There are other things that you can look at and take into consideration when investing.  Again, a good investment professional will help you understand the investment.  If they don't take the time to educate you and won't when you ask, then fire them.  You are paying them to help you learn and make better decisions.  At the end of the day, it's your money and you need to take complete responsibility for the decisions you make.

This wraps up the final stage of my plan to get you out of debt and on the path toward great financial success.  My plan is not magic, it's not even all that unique or original.   It's plain, it's simple and gets the job done.

The ball is in your court, and it's game time.  Are you going to warm the bench or get in the game?