|
Another title for this might be:
"The Anti-Bucket List"
I strongly encourage you to click here and watch this video by Carl Richards. It's just under 4 minutes. It's one of his best so far. Carl doesn't mention God but as most of you receiving this newsletter believe in God, it's logical to address it in the setting of our Faith. For those of you that prefer God be left out, then you can insert your own words, and the concept still applies.
The issue is that goals can be counter-productive. Failure to achieve a goal can lead to an "unmet expectation" or disappointment.
How do you reconcile the fact that "life happens" despite our best planning and forecasting? Often we have a particular goal and God introduces an unexpected direction that proves to be even more fulfilling. Other times God may place challenges in front of us that seem like a trial at the time, but we eventually emerge stronger and happier.
From a practical perspective we need to review financial goals once per year and assess where we are. If it's obvious that we're not remotely close to achieving the goal(s) then they should be modified. In fact, if we are not annually modifying goals, deleting goals and/or adding goals; that would be highly unusual.
|
|
What to Do Next
The most important first step is to understand what is most important to you, establish goals that are in alignment. Then choose someone that can bring a team of independent experts together and formulate the advice to make it happen. That said, it is normal to want to jump right into investing. We regularly analyze folk's current investment strategy with nothing expected in return. (We'll analyze other aspects of your strategy if you wish.) We look at: - Overall Performance (vs. benchmarks & our model portfolios)
- Portfolio Design
- Diversification
- Fees & Expenses
Give us a call. 760-804-0910 |
