At this time of year, many of us are thinking about New Year’s Resolutions and financial goals for next year. I know I’m not the only one …
It can be tough to think about the long term. After all, a lot can happen! I know my life is very different that it was 10, 20 or even 5 years ago.
But in a way, that’s what financial planning is all about. If you have a vision of your future, a financial plan can help you get there. But you need a vision, no matter how rough that picture may be.
I’d like to share an exercise that can help you create your vision of the future.
Write a letter. Date the letter January 1, 2021. (Seriously). That’s five years into the future, a time frame I find more manageable.
Talk about what you’ve been up to …
- How do you spend your time?
- Where do you live?
- Who do you spend your time with? How old are your kids now?
- What do you like to do for fun?
You can address the letter to me or someone else. You don’t have to share it, but I think it is more powerful if you do. (And I would love to read it and schedule a time to talk to you about it).
I have found this exercise to be very helpful in my own life. (And the letter I wrote 5 years ago was surprisingly accurate!)
Hopefully you will like this idea, have fun with it, and gain clarity around your goals in the process. Once you have that, I can help with your financial plan to get there.
Let me know what you think and if you’d like to talk about it. And Happy New Year!