Last week, I sat down with a new client. She was referred to me be by a colleague that felt I was a better fit for her. She was wrapping up her divorce and wanted someone that worked in that area.
After we got to know each other a bit and we walked through her financial concerns and goals for her new life, we agreed a comprehensive plan was in order.
When planting a garden, one of the first things you do is decide what you want to eat.
You carefully prepare the soil, plant your seeds, provide enough water and sunlight and try to keep the weeds and other critters out to ensure the best harvest.
Doing these steps gives you the best outcome and highest yield.
Well, I'll tell you what it's not. It is not investing in the next hot stock (or Bitcoin). In fact, that's not really even investing. That's called speculation.
True financial planning is an ongoing disciplined process where you make logical and well thought out steps to help you achieve your financial goals.
Remember the movie Rocky?
Why did Rocky get up at 4:30 am, drink raw eggs and then go out in the cold and run?
Plain and simple, he had a goal. (and a burning desire) He knew, that if he did that consistently, went a little further or faster over time, he would get stronger and closer to his ultimate goal. Winning the heavyweight boxing title.
As I lay on the table at physical therapy the other day, I took a deep breath as my therapist pulled my arm back. Three months in since my injury and the pain hasn't subsided much.
I started thinking about the similarities of healing from an injury and meeting your financial goals. Both have these things in common: