This month’s article is coming out at the end of the month.  I typically like to have them out in the middle of the month or sooner (doesn’t always happen, but I try).  It is coming out at the end of the month due to the topic.  Let’s be honest with ourselves, how many people actually keep their resolutions?  From my experience, the answer is not many.

So why do we bring up this painful subject?  It is possible that you are still overweight, in debt, or in the case of our world, still not as disciplined of an investor as you want to be.  My message for this article is that it is not too late.  It never is.  If you are looking to be the person who is still at the gym (a lot less crowded now than it was a couple of weeks ago most likely), paying down those credit cards, or looking to get your finances in order, “today” is always the best day to do so.

What steps can you take?

1.   Write it down.  Emmitt Smith the Hall of Fame running back used to say that unless you write down your goals, they are only dreams.  I couldn’t agree more.  We all have dreams, but once you write it down, it comes out of your brain, and into a more real setting.  You must take on the pain of looking at that writing if you give up.  The brain can play tricks on us and convince us that we didn’t “really” say or want that goal if it isn’t written down.  Once it is on paper, it is real.   
2. Make it realistic.  If you set a goal too high, then you won’t reach it.  By making the goal more realistic, you have a great chance of success.  However, let’s say the goal you have is very high.  I would recommend the “ladder” technique.  For example, if your goal is to save $100 (just a random number), make your first goal to save $20, then $40, and keep climbing the ladder of goals.  By keeping a more realistic focus, you can achieve more small victories and get yourself to your ultimate goal in a realistic time.
3. Don’t quit.  Plan on your goal being hard at times.  After all, if it isn’t hard, then it is very likely not worth doing.  This is something that you want to do bad enough that you are writing it down, possibly setting multiple goals of a ladder to climb, and even reading this article to the very end in an attempt to make this goal attainable.  It is obviously something that you want.  So, is it worth it?  The answer is likely “yes”.

If you have any questions on your financial goals or would like to talk to me about any of them (saving, taxes, retirement, you name it), I’m more than happy to have a conversation with anyone.  Feel free to email me at mtosaw@rcmfs.com.

Happy New Year!