It’s about “How I spent my money (Financial/WINK) — What Investors Need to Know. NOW.
Imagine this: You’re three feet from gold . . . on the 1-yard line and you are tempted to give up! Don’t! I’m seeing more and more people justifying why they have not taken the ball over the goal line! Is this your Perfect Day dream or nightmare?! Make it your dream.
Yes, inflation is rising but being smart with your finances is an opportunity for you to move toward more Perfect Days.
It seems the pandemic has tempted some people to change the way they handle money and that makes me nervous. Why, because today more than ever, you need a plan in place for the future. No this is not a resolution moment. I subscript to having a plan and not making resolutions that fall apart after a few months. Let’s keep it real.
No one needs to be bailing or stopping what they know is right: invest, save and be smart financially. If you have never spent time with a financial consultant this is the time to change. I’m available for a free 15-minute consultation—see the link below.
The thing that is bothering me the most is how young people are not saving for the future and that’s not smart. One 29-year-old recently admitted that he is discouraged. “I once was very frugal, but my spending and saving habits are centered on the fact that we could not be here in 15 years. I know this type of thinking is the result of the pandemic and how I have perceived it. Right now, I have decided not to have a pension and am budgeting for just 25 more years of additional living!”
What?! I want to say to this guy—write me. Sign up and let’s talk! I feel optimistic about the future. No, I’m not wearing “rose colored” glasses. I’m wearing the mantle of wisdom that has driven my decisions for the past 20 years.
Set the Right Goals
So, despite the list: the lingering coronavirus pandemic, the rise of the omicron variant, threats of war in Ukraine, trade hassles with China, inflation, risk of rising interest rates and, as always, uncertainty about next year’s stock market, you need to be even more bullish about your personal finances for 2022.
I believe Americans know how to be bullish, because we know the broad market over time goes up much more than it goes down.
In a recent poll, Fidelity Investments finds that 72% of Americans are confident they will be better off in 2022 than they were in 2021. You can go far with some basic steppingstones in place.
First, don’t set resolutions; set goals instead—goals that are tangible and reachable.
• Invest for Your Future — The best time to plant a tree was 20 years ago. The second-best time is today!
• Pay Debt Down and if possible, off! Don’t allow high interest rates to rob you of finances that you could put to work for you. Get rid of the extra debt. Also, review those monthly auto deductions. For example: are you still using that gym membership?
• Spend less and Save More. This is an easy solution to put more into your wallet. Resist impulsive buying. If it doesn’t fit your life plan, don’t do it—no matter what level your lifestyle is.
Second, discover the right metrics for your life. Choose one that motivates you to do the right things that you otherwise would not do—like saving more, spending less, thinking smarter, and tackling life by trying a new adventure. Don’t hide in the shadows like the guy in the beginning of this blog. Becoming financially secure is a great adventure, and it’s one that you want to be on, so don’t go off road with feelings of fear.
Third‚ create a financial plan. This is where I can help. If you don’t have one, you need one. Download my latest edition of The Liberated Investor. It’s your guidebook to a 3-Step plan that allows you to take control of your financial future.
Focus on What Is True or Actual!
Always remember: What you focus on expands—I repeat, what you focus on expands. A budget helps you figure out your goals and work toward them. It also prevents you from drifting through life and tossing money away.
Budgets force us to map out our goals, save money, and keep track of our finances. All of this means you will see your dreams become a reality.
Here’s my advice for 2022: Take charge of your life and your money. Make your plan expand for YOU. Take a moment and set up a free 15-minute consult with me, and let’s make a plan for your future—not just in 2022 but for the rest of your life!