If you don’t know where you’re going…
We use a 4-step framework to answer that elusive question.
STEP 1: ENVISION LEVEL 4 FINANCIAL ZEN
(aka acceptable goals)
Close your eyes and envision your future self at the point of Financial Zen.
Are you actually retired, still working (because you want to) or starting your own business?
How old are you?
Are you maintaining, downsizing or upgrading your current lifestyle?
STEP 2: SELECT YOUR NON-NEGOTIABLES
After you create your vision of the future pick out your non-negotiables so you know what to prioritize.
For instance, maybe you MUST retire by 50 even if you have to downsize your lifestyle.
STEP 3: ENVISION LEVEL 5 FINANCIAL ZEN
(pie-in-the-sky / money-is-no-object goals)
After you decide on your must-haves, go back to your dream board and go even bigger.
Imagine finding out Warren Buffet’s your long-lost Uncle and you just inherited $100M.
What would you add to your vision? Ignore the guardrails and go nuts.
Only fly private? Buy an Italian villa? Travel 6 months a year?
STEP 4: SELECT YOUR TOP PRIORITIES
You can have anything you want, but not everything.
So pick out the big Level 5 goals that you want the most.
For instance, maybe you’d rather only fly private instead of buying an Italian villa.
GET AHEAD OF THE PACK!
Most people have never done an exercise like this, so it’s no wonder that most people don’t end up where they want to be.
Clarifying and prioritizing your vision turns it into actionable financial goals.
Once they’re actionable, you can create a plan and measure your progress towards them.
And there are few things in life more satisfying than seeing progress towards a goal, which in turn reinforces and motivates.
But finding the path that will get you there starts by knowing where you’re going.
