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!
She lives in Montauk, NY with her husband, 3 kids and Labrador puppy.
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