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When I was growing up, the end of another year usually meant setting resolutions for the coming year. Whether it was a coach, club leader or parent, everyone asked me what I resolved to accomplish in the New Year. Perhaps it is the company I keep these days or my age, but resolution setting isn’t on my agenda.
As a young business – the Financial Enhancement Group turns 20 in 2017 – our team set fresh goals annually. These goals included adding new families, bringing new assets on-board to manage and adding team members. There is no substitute for experience and looking back, many of our goals were more like hopes! We didn't know what it took to achieve our stated “goals” because we were young and new.
Today, yesterday’s goals have transitioned into objectives. Years of experience inform us about what we must to do to be successful – primarily execute and experience a little luck along the way.
As we age, our expectations for the future are naturally supported less by hope and more by objective facts. You know more at 50 about what is required to change lifestyle habits such as overeating, smoking, or carrying debt. While you may no longer set “resolutions,” identifying objectives is still important.
For more than a decade, we were fortunate enough to hire a professional coaching service. The financial investment was substantial, but our investment paid off in knowledge that contributed to our continued success. Following are a few of the best nuggets of wisdom gathered over the years.
Set short-term, mid-term and long-term objectives so that you are always working towards something that you can mark off. Establish your long-term objective and make sure your mid-term objectives move you toward the long-term objective. A simple recipe for success is to make certain the actions you take today spur the short-term success that moves you toward the mid-term objective and end objective.
Refrain from setting all of your goals in the same category. Instead, set health, wealth, saving, spiritual, mental and even hobby or extracurricular objectives. Don't assign January 1st as the launch pad or December 31st as the finish line for all your objectives, some will naturally take longer than a year while others can be checked off in a month.
Always remember the smallest deed outweighs the grandest intention. My grandfather taught me as a little boy to talk less and do more. We’ve added on to my grandfather’s priceless wisdom by recognizing that no force on the planet is more powerful than momentum – good or bad. It is easier to say no to the first cookie than the fifth, easier to make the second increased payroll deduction than the first, easier to walk the second quarter mile than the first and so on. Just get started!
Our hope is that everyone actively investing and saving will experience a prosperous New Year. Set the right objectives and use momentum in your favor.
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column offset=”vc_hidden-lg vc_hidden-md vc_hidden-sm”][vc_widget_sidebar sidebar_id=”sidebar-main”][/vc_column][/vc_row]