By J. Marc Vorchheimer, CFP®
Spring Valley, NY
www.integratedfinancialconsulting.com
In today’s economic environment, it’s easy to get discouraged. So much of what we believed with certainty just a few months ago is now up for debate or just plain false. Huge financial institutions have disappeared overnight, home values have plummeted, and some distressing financial scandals have been exposed. People are extremely cautious and apprehensive about what the future (and present) will bring.
Here are some strategies to help assure your peace of mind and maintain a balanced perspective during these turbulent times:
1. Appreciate what you have.
Take stock of all you have rather than what you are lacking or worried about. Focus on the fact that you have a functioning mind and body, clothing and shelter, and personal possessions that are important to you.
2. Rethink your personal and financial goals.
Review your personal goals and determine whether they are consistent with your perspective in the “new world” we live in. There may be matters that are more important to you now that your life may seem more uncertain. For example, perhaps you can make doing something selfless for someone else a higher priority than it was previously.
3. Develop and maintain a sound financial strategy.
If you do not have a sound strategy to reach your financial goals, now is the perfect time to create a financial plan. If you are fortunate enough to have a plan in place, stick to it. After all, a good plan is something designed to weather a wide variety of financial conditions. (Otherwise, it was never a sound plan in the first place.) In addition, your financial goals may also have changed. For example, you may want to reduce your immediate living expenses so you can still meet your current retirement goals or increase the size of your emergency reserves fund. If your goals have changed, then you probably need to adjust your strategy as well.
4. Tune out negative press as much as possible.
We are in control of what we listen to and read. Avoid exposure to negative and discouraging media reports. Don’t spend too much time browsing the Internet searching for economic predictions or the number of laid-off employees. Instead of trying to change what you cannot control, focus on what you can do about your situation. For instance, keep a log of your work-related accomplishments, which will help if you need to update your resume. Even better, use the information to create a report to your boss so he or she will know the contributions you’ve been making.
5. Spend time with family and friends.
Be grateful for family and friends and spend some extra time with them. Make it quality time by keeping the conversation focused on the positives in your life. Of course, it’s fine if you also need to discuss your concerns and fears. When we feel alone, whatever bothers us feels bigger than if we are together with loved ones with whom we can share our feelings. People who are close to you and care about you will usually listen to your worries, which in itself is a relief. Just be sure to turn the conversation back in a more positive direction as soon as you can.
6. Be creative and cheerful.
Try to think outside the box. Maybe it’s time to develop a new hobby or skill. It doesn’t have to be costly or very sophisticated. It should be fun and something you look forward to. Choose an activity that will give your mind a break from our stressful world. And support those around you with a bright and friendly demeanor. Your positive energy will likely put a smile on someone else’s face—which is the one you get to see anyway.
September 15, 2009
September 1, 2009
Steps to Achieving Great Goals
By Kelly Adams, CFP®, EA
Novi, MI
www.harborlightplanning.com
Goal creation and documentation can have an air of fantasy. But however improbable or foreign your goals may seem, putting them on paper can be a very positive and fruitful experience. Writing down your goals will help you focus on exactly what you want to have or to do, which is more effective than a vague wish list in your head. A written record helps you stay on track, giving you a way to measure your future progress.
As you convert your goals from thoughts into words, you engage more of your brain and clarify the instructions you give to your unconscious mind. By merely committing your goals to a written list, you increase your chances of converting them from “hoped for” to “possible.” Once you’ve written out a goal, break down the end result you want to achieve into smaller and more manageable steps. This moves you even closer to making your goals a reality because instead of tackling one big mountain, you’ll be climbing a series of foothills.
If you’ve never written down your goals before, begin by relaxing and clearing your mind. Appreciate the value of setting a goal: something to strive for, to improve, or to change different areas of your life. Start with a lined piece of paper numbered 1 to 30, and list 30 goals. You may feel stuck after 7 or 8, but push through and keep on writing, really trying for 30. They don’t have to be complex. Consider short-term and long-term goals in a variety of categories: financial, family, personal, spiritual, and physical. Don’t worry about being realistic at this point; just keep writing.
How do you transform this simple wish list into actual positive changes in your life? Decide on at least one, and up to five goals from your list of 30 to actively pursue in the next year. Choose goals you are excited about. Write each one at the top of a blank piece of paper. Be sure to phrase it so you define the outcome clearly and state it positively (about what you want to do or to have), not negatively (about what you want to avoid).
Visualize attaining your goal, and give yourself a reality check. Ask yourself whether realizing your goal fits into your life and if the cost of achieving it is reasonable for the benefits you’ll receive. Next choose a reasonable date of completion, and identify your first step. You may have to work backward from the outcome you want to find that first step. Then ask yourself, “Is there anything I need to do before I can accomplish this step?” This will help you recognize and remove any roadblocks. List the remaining steps you’ll need to take to achieve your goals.
Set reasonable yet aggressive target dates to complete each step of the process. Most importantly, get started and have fun. Enjoy setting and achieving your goals and completing each step along the path of success. Reward yourself after achieving really large or meaningful steps. Keep the rewards simple and inexpensive—just marking your progress by putting smiley stickers on your goal sheet next to each completed step may be all the motivation you need to get started on the next one.
Novi, MI
www.harborlightplanning.com
Goal creation and documentation can have an air of fantasy. But however improbable or foreign your goals may seem, putting them on paper can be a very positive and fruitful experience. Writing down your goals will help you focus on exactly what you want to have or to do, which is more effective than a vague wish list in your head. A written record helps you stay on track, giving you a way to measure your future progress.
As you convert your goals from thoughts into words, you engage more of your brain and clarify the instructions you give to your unconscious mind. By merely committing your goals to a written list, you increase your chances of converting them from “hoped for” to “possible.” Once you’ve written out a goal, break down the end result you want to achieve into smaller and more manageable steps. This moves you even closer to making your goals a reality because instead of tackling one big mountain, you’ll be climbing a series of foothills.
If you’ve never written down your goals before, begin by relaxing and clearing your mind. Appreciate the value of setting a goal: something to strive for, to improve, or to change different areas of your life. Start with a lined piece of paper numbered 1 to 30, and list 30 goals. You may feel stuck after 7 or 8, but push through and keep on writing, really trying for 30. They don’t have to be complex. Consider short-term and long-term goals in a variety of categories: financial, family, personal, spiritual, and physical. Don’t worry about being realistic at this point; just keep writing.
How do you transform this simple wish list into actual positive changes in your life? Decide on at least one, and up to five goals from your list of 30 to actively pursue in the next year. Choose goals you are excited about. Write each one at the top of a blank piece of paper. Be sure to phrase it so you define the outcome clearly and state it positively (about what you want to do or to have), not negatively (about what you want to avoid).
Visualize attaining your goal, and give yourself a reality check. Ask yourself whether realizing your goal fits into your life and if the cost of achieving it is reasonable for the benefits you’ll receive. Next choose a reasonable date of completion, and identify your first step. You may have to work backward from the outcome you want to find that first step. Then ask yourself, “Is there anything I need to do before I can accomplish this step?” This will help you recognize and remove any roadblocks. List the remaining steps you’ll need to take to achieve your goals.
Set reasonable yet aggressive target dates to complete each step of the process. Most importantly, get started and have fun. Enjoy setting and achieving your goals and completing each step along the path of success. Reward yourself after achieving really large or meaningful steps. Keep the rewards simple and inexpensive—just marking your progress by putting smiley stickers on your goal sheet next to each completed step may be all the motivation you need to get started on the next one.
Subscribe to:
Posts (Atom)
Posts
