Humans are unique in that we can envision something in our minds that does not exist, then take steps to create it in our reality. For example, an architect may see a structure in his or her mind, design the structure with a paper and pencil, and have a builder build it. An entrepreneur can envision a business in his or her head, and build it over the next block of years into a thriving enterprise.
So, I ask, why can’t we envision a successful retirement experience and take steps to build that outcome, month-by-month, year-by-year? We can take what is an idea, refine it over time, and transform it into our reality. That is what a financial plan is created to do.
Consider this, you do not want to use a majority of your resources to buy things made of plastic and shiny metal. Be careful, because the stuff that really matters may get buried under the stuff that doesn’t matter that much. What about creating an income stream in retirement that you can’t outlive?
Wouldn’t that be a better use of funds rather than buying a new Mercedes-Benz S550 that costs $122,000? My point is, there are a handful of things in life that really matter. Be certain that you have a handle on these things and do not get distracted by things of lesser importance. I have listened to Brian Tracy say many times that the very worst use of one’s time is to do very well what need not be done at all. This makes me think that setting aside time for the formulation of a comprehensive financial plan would be a very good use of time that could pay huge dividends in the future.
Is it more enjoyable to have an abundance of resources or an abundance of monthly payments? We live in a society and system that encourages you to own one or two things with 60 to 360 monthly payments. Something as simple as a cell phone now comes with a $0 down payment but with 24 monthly payments. For you to truly have an abundance of resources, stop being tricked into corporate gimmicks and financial payment plans.
Allow your mind to take a break from the world and all the distractions that come with it. Stop for a moment to clear your brain and start thinking about all the things you want to accomplish. Write down everything and rank each item. Imagine now, that you’ve found the lamp with the magical genie. Before you rub the lamp and make your three wishes, stop and think about what is most important. Don’t be too greedy and wish for more wishes.
Once you’ve decided what you want most, seek and find your financial genie. Make sure that financial professional is a certified genie or a certified financial planner. Work with a team that includes that certified individual to refocus your mind and create an action plan to help you get from point A to point B.
Copyright 2015 by Rodger A. Friedman
Forging Bonds of Steel, LLC