How to Get Financial Peace of Mind in 5 Months
There really are only six things you must get right when creating a financial plan:
- Set your goals
- Protect against bad things
- Prepare for the future
- Enjoy the journey
- Give back to society
- Execute your plan!
In this article, I will focus on step 6, execute your plan!
Progress is what matters
The single most important thing: do the best you can. Starting today.
Your financial life is a continuous journey, not a destination. You don’t need to get there. There is no “there”. Don’t worry about the next 20 years. Focus on what you can control now.
You just need to feel on track. This happens when you take small steps to be on track. Then, repeat the process. When you feel on track your financial life will be more stress-free than it is for 95% of America, including most millionaires.
Take a moment to visualize your future. A future where you:
- Have protected from bad things
- Have no bad debt, only strategic debt
- Are consistently saving
- Are giving back to society
- Feel confident and worry free enjoying the rest
Your action step for today
Simple: Identify one improvement you can make this month. For example:
- Get your will in place
- Set your goals
- Sign up for password protection
- Increase your savings rate by 2%
- Update your investments
Repeat and do the same thing next month. Pick one thing and get it off your list.
Most people see significant improvements in three to six months. It may take you as many as 12 months, but it is extremely unlikely to take you more than that. There just isn't that much to do to get your financial affairs in order.
To be clear, you may not pay off all of your bad debt in 12 months. Nor will you save all the money you ever need to retire. But you don't need to. You just need to have the right glide path in place.
The best part? Once you get the big things in order, everything else is fine tuning. You should look at your plan quarterly but you should not have to do anything more often than that.
Pro tip: Automate!
Be sure to automate everything you can. Savings, investing, paying down bad debt.
When you follow my path you should find that your fears are less likely to happen. Your dreams are more likely to come true. You can, and will, achieve your goals.
How may I help you?