The Number One Financial Strategy every Delta Diamond Member Should Use
As Delta Diamond Medallion Members, luxury, comfort, loyalty and dependability are requirements in all aspects of your life. You are a driver, a go-getter, a success. You value paying more to get more. This is because you simply strive for more.
Part of striving for greatness is the need to make the most out of your time. This is why you value service that saves you time even if it means splashing out a little extra cash.
I understand this because I am a Delta Diamond Medallion Member. I'm also an entrepreneur and business owner, so getting the most value possible out of my time is crucial. After all, time is money, or for doing what you love most in this life like spending time with your loved ones or travelling.
All this time you put into creating a comfortable life for you and your family needs to be rewarded. Just like your loyalty to Delta gets incentivized, so too should your life's work.
How can you be using your money to enjoy life, to realize your hopes and dreams, and to secure a prosperous future? With a written plan, of course.
As a Diamond Medallion Member, you get to select exclusive choice benefits, a loyalty program feature that only Delta provides. Delta Diamond status is essentially a reward for following a plan and investing in the airline.
Now, there are specific incentives for a financial plan or financial strategy. By choosing to contribute to certain accounts, and by investing wisely, you can make your money work wonders for you.
Here is the number 1 financial strategy all Delta Diamond Medallion Members should use:
Invest in creating a written plan for your future
But first, before creating the written plan, do this.
Before you invest a single penny, you should first create a vision for your future. What are your hopes, dreams, and goals for the future? Have you written them down? Have you crystalized exactly what things and experiences you want in life?
This is actually a really fun exercise. It gets us excited for the future and puts real pictures in front of us to remind us of what we are working towards. The process of creating a physical vision board starts to effect our sub-conscious mind to a point where it constantly figures how to go get the things we want, even when we are sleeping!
I know, it sounds a bit hokey, but the results will make you a believer!
A Written Financial Plan
It may sound a little boring, but this written plan is arguably the single most important document you will have during your lifetime. (Your estate docs are important till you are dead!) Remember, the person you are today is the person who will be taking care of you in the future. But if you don’t have a written plan on how to do it, well then your future self may not be happy with you!
A great way to think about this is like when you plan a skymiles trip to achieve Diamond status for the year. You know where you are with your MQD’s and MQM’s and know where you need to end up at, but there are still some details in the middle to sort out.
You picked your destination based upon where you are today and what you wanted (needed). Now you need to figure out which flights to take to hit your status. You also need to sort out lodging if you are staying a night or two as well as perhaps a car rental, eating out with some friends should they be at your destination, etc.
In other words, you put together a detailed plan that looked at where you are today, where you need/want to be tomorrow, and then figured out the specific steps to make it all happen.
Delta Diamond Status, Luxury Travel, and Success don’t happen by accident
As a Financial Advisor, and after many years advising wealthy people how to grow their wealth, I have noticed a few trends. One of them being that wealthy people reinvest the money they have already paid taxes on into a vehicle which allows them to grow their wealth tax-free. In other words, they leverage the work and money they have already created to do exponentially more for them.
One of the vehicles that can be hugely impactful is a Roth IRA - one of my personal favorites to build wealth. Getting into the details here would turn this article into an essay. Still, if you are interested in utilizing a Roth IRA as part of your financial strategy, then you can get started by downloading my free e-book.
Elite frequent flyers who are also business owners and executives seem to have found an interesting intersection between living life to its fullest today while also leveraging the wealth (business, money, skymiles, etc.) they have created today to provide for an even more luxurious and fulfilling life in the future.
I have found working with elite frequent flyers who are CEOs, Founders, Business Owners, and C-Suite Executives that created & implemented a comprehensive written financial plan where the ones who achieved a level of success that others simply don’t.
Does it require time and effort on your part to build this written plan? Sure, but so does planning a miles trip in December to hit your status for the year! It’s the journey and outcomes that we desire and a written plan simply shows us exactly how to plan the journey so we achieve the results we want.
Thanks for taking the time to read this, I hope you enjoyed it.
It is the second week of December 2019 and I am leaving for a skymiles trip this weekend to hit my status, better late then never!