Occam’s Razor is a fascinating heuristic to always consider. It states that the simplest solution is almost always the best solution.

Financial planning can be complex, but it doesn’t need to be.

After 34 years in business, I’ve found that the simplest, most effective financial plan is to follow these 7 baby steps – in order:

1. Save over $1,000 for your starter emergency fund.
2. Pay off all debt using a debt snowball, except for your mortgage.
3. Save 3 – 6 months of expenses in a fully funded emergency fund.
4. Invest 15% of your household income for retirement.
5. Save for your children’s college fund. 
6. Pay off your home early.
7. Build wealth and give.

If you recognize these 7 baby steps and know where they came from, I commend you. You have been paying attention and are working toward becoming an everyday millionaire.

If you are unfamiliar with this 7-step approach, let me introduce you to them and watch your progress take off.