Getting in Financial Shape
While looking for some entertaining statistics on how much exercise equipment is bought in January, I found out why Presidents Day sales are so good. It falls in line with all the returns made on the New Years Resolution items from January.
In one way or another this rings true for all of us. I don’t know anyone that has achieved every sought-after goal or resolution. And, I am not going to look up statistics on failed goals and resolutions. You already know it would be depressing. I am going to put some pep in your step though.
Getting in financial shape is tough. Perhaps you need to work on your budget, save more, or update your estate planning. Maybe what comes to mind is planning the continuity of your business or learning how you’re going to be able to retire and stay retired! You know you need to protect your family if you die too soon. You don’t want to be a burden to your family if you live too long. Or, maybe you just want to pay less to Uncle Sam, make sure your assets are protected, or just be a better steward of your money.
No matter the goal, these are NOT one-minute fixes. Some of them may take the better part of a year or even more. And, here is your news flash. This means ALL of these goals take discipline!
Let this quote sink in…
“People won't change until the pain of not changing is greater than the pain changing brings.” - Just B. Jordan
The problem with getting in financial shape is that most people don’t really give it a go until the pain is bad enough. Here’s another news flash. This is not good! A magic wand does not exist and is usually required at this point unless you and/or your family are willing to make drastic changes.
I wish I could paint a picture loud enough to keep you motivated to stick with it and get in the financial shape you want. I wish I could transfer the pain and heartache we have seen through the years that was endured simply because….well, you fill in the blank with the excuse. At the end of the day, you and I both know that there is no good excuse. There is only the reality that you have not made it a priority!
So, let’s fix that. What do you need to do to make it a priority?
Perhaps you hang a picture in your bathroom of the people it would affect the most if you don’t do anything. You leave it there as reminder every day to stick with it.
Perhaps you tell these people what you need to do and want to do. Have them hold you accountable and ask you weekly about your progress.
Perhaps you look at how much you made last year and compare that number to the number your current investments could produce over the long term, which at best is probably 4%.
Perhaps you stay off ALL social media until you have things in order. I am sure your kids will have fun holding you to it.
Perhaps you have an idea to keep you motivated. The point is to make it bold or even extreme. Bring the pain to find the gain!