Where do you want to be at the end of 2020, or three years from now, or five years from now?
One of the basic needs that we desire for making good decisions is clarity. Until my mid-forties, I had 20/20 vision. Today, clarity comes with the help of my glasses. Sometimes we need a professional to help with clarity in other matters of life.
When it comes to making decisions about investing for the future, clarity is a challenge. Just read my article from December. Multiple money managers were recommending that we prepare for single digit returns in 2020 and that volatility could be significant.
That could still be the truth, but as I write this article, the outlook by most analysts is extremely optimistic. Creating wealth is both an art and a science. There are certain financial products that provide clarity for future objectives, and while doing so, limit flexibility.
The path of life is full of curves, hills, and stop signs. A good plan has flexibility while also providing certainty. While we can accurately use math to predict certain results, we cannot predict the behavior that impacts whether the math will be correct.
So what should I do to make you happy if I am an advisor for you? It begins with many questions to help me know who you really are and what is important to you. The challenge is to create a plan that develops clarity in addressing the gap between where you are and where you want to be.
At the same time, the best plan in the world is of no value if action is not implemented and committed to. A plan to eat well and exercise is of no value if you don’t eat well and exercise. I think we can agree on that.
Our biggest challenge is usually something we call “feelings”. “I know I should, but I don’t feel like _________ .” Emotions drive our decisions, and controlling our emotions helps us control the outcome of our lives.
What does your “here” look like?
What is your “there”?
Where do you want to be at the end of 2020, or three years from now, or five years from now? Discover your challenges by being honest with yourself. Make the decision to discover the opportunities with the proper guidance to accomplish your “there.”
To become the hero of your life story, and win the battles that you face, begin with knowledge of the villains. In Star Wars, Skywalker was the hero, but he used and followed the training of Yoda. Yoda was his mentor and guide. (That’s my job, but I hope that I won’t look like Yoda.)
Allow me to name a few villains — taxes, market volatility, health and medical issues, family complexities, business succession, being profitable, maintaining key employees, cash flow, caring for spouse and family, longevity, uncertainty, government regulations, just to name a few.
When life gives you lemons, make some tea.
May 2020 be a year that clarity is developed and implemented in your world.
