There is an expression, “time and tide waits for no man” meaning time passes whether we want it to or not, and whether we are ready for it or not. Think about it, here we are, end of August, over halfway through the year. Doesn’t it seem like New Year’s Day was just last month, or last week? How quickly time passes, and if we do not prepare financially, we could find ourselves struggling in a future were forgot to create.
Dream!
Since the future isn’t here yet, we want to spend a little time dreaming of the type of future we want to live in. This first step is for us to dream of what is possible, ignoring (for the time being) what may seem financially impossible. What do you want your financial life to look like in three, five, ten or twenty years? How do you want live? Where do you want to live? What do you want to be able to do?
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- Do you want to retire or resign and start your own business?
- Do you want to be debt free or payoff your mortgage?
- Do you want to finish school, go back to school, and/or send your kids to school?
- Do you want to take a much needed vacation to rest and relax?
For this exercise, open both your mind and heart to see what it is you truly need and want, then write it down. Be honest with yourself and ignore any voice that says to you, “That will never happen.”
Think!
Once you have created your list, put it away for a week or so. Don’t think about it or look at it during that time. After the week, return to your list and review what you have written down. Select the most urgent and/or important to you. You should limit this selection to three, at most. If you want to just focus on just one, that’s fine too. Next, begin thinking about how you can achieve these things. Ask yourself questions like…
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- What do I have to do to achieve this goal?
- Who do I need to become?
- Who can help me?
- How do I find help?
- How long do I think it will take to complete?
Then…research your goals, utilize calculators to provide financial estimates, answer the questions I presented and any others you can think of as you work through this process. Make note of all the questions and answers you find. Create a profile of your goal. When the profile is complete, evaluate it and ask yourself this final question…
Am I willing to do what is needed to achieve this goal?
Do!
Asking that final question is critical. If the answer is no, find another goal. Simple as that, find another. No shame. The project may just be too big right now. Select a goal you are willing to fight and work for. After you’ve accomplished other goals, revisit this one. Think about it, most of us don’t walk into a gym and deadlift 300-pounds. We would have to work up to it. Financial goals are the same. Start where you can, and work your way up.
On the other hand, if the answer to that last question is “YES”, then now it is time to convert your dreams, your thoughts, and your research into action. Take the goal profile and begin making calls, contacting people, creating spreadsheets, finalizing decisions and start the process of accomplishing the goal. Break it down into smaller pieces. Outline it so you know what you need to do and when you should be doing it. Something else very important, track progress your progress as you go. Set deadlines/due date, but expect some setbacks. Things won’t always go as planned. Don’t get so invested in your plan or outline that it becomes inflexible, as if this is the ONLY way to achieve your goal. You must remain flexible and willing to learn from situations. Be willing to change and adjust when needed or even, start over.
Again, Dream, Think then Do. Now, go live in the future YOU create!
Until Next Time…
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