Friday, December 30, 2011

It’s Time! How To Set and Reach Your Financial Goals

It’s Time!
How To Set and Reach
Your Financial Goals for the New Year

The New Year is upon us, and it’s time to set your financial goals! Why would you wait around on something so important? The problem is, most people want to achieve higher financial goals, but they don’t truly understand how to set goals and furthermore how to reach them.

Perhaps you’ve set goals before, and they haven’t worked out, so you were discouraged. This time, to be successful, you must act on a plan. It’s time!

Before you start working on your financial goals plan, there are some questions you must ask yourself. Be honest with yourself about the things that are important to you.

Questions you need to ask yourself in setting your financial goal:
  • What do I want to attain financially?
  • Why is important for me to be financially secure?
  • Do I want to be comfortable or do I want to become wealthy?
Getting started requires two action steps; first, you need to determine your general financial goal and, second, you have to become financially literate so that you can learn to think like the wealthy.

Do you really want to be wealthy? The answer to this question is important because it will determine your efforts toward creating wealth. Bear in mind that a “goal' is different from a “wish”. You may wish to be wealthy, but that doesn't mean you've taken any practical steps to make that wish come true. Having the “desire” to become wealthy is what you will need to achieve your financial goal.

Wishful thinking is merely a want, desire, on the other hand, is a extremely potent. Desire is a supreme motivator that literally creates a driving force. The truth about most people who claim to want success is that they actually do not desire success, what they desire is comfort and security.

In the famous and bestselling book, Think and Grow Rich, author Napoleon Hill, outlines 13 Success Principles.

The 13 Success Principles are:
1.            Desire
2.            Faith
3.            Auto-Suggestion
4.            Specialized Knowledge
5.            Imagination
6.            Organized Planning
7.            Decision
8.            Persistence
9.            The Master Mind
10.          Transmutation
11.          The Subconscious Mind
12.          The Brain
13.          The Sixth Sense

Napoleon Hill’s success principles are as relevant today as they were a century ago. In his book, Hill teaches you to think differently, and it is a must read for anyone wanting to become rich.

Would you like a free copy of the book, Think and Grow Rich? This book has created more millionaires than any other book or program ever produced. You can get a free copy just by clicking this link: Think and Grow Rich

If you've already earned enough money to start saving, then likely it has been invested with an eye toward security – since, perhaps, you can't imagine yourself ever truly becoming wealthy.

In the book, Rich Dad Poor Dad, author Robert Kiyoksaki, discusses his “Rich Dad’s” teachings. He said most people dream of becoming wealthy, but it isn't their first choice. That's because the effort and uncertainty of becoming rich disturbs them and they seek refuge in the easier goals of security or comfort. 

People who make security and comfort their first and second choices are often seeking a single 'hot investment tip' – a simple, risk-free way of getting rich quick. Some people do get rich on one lucky investment, but all too frequently the money they amass is later lost. You can get a copy of Rich Dad Poor Dad here: Rich Dad Poor Dad

While many books have been written on the subject of becoming rich, this text is not intended to be a complete novel. What it is intended to do is motivate you to take action, NOW! 

I’ve outlined a few simple steps on how to set and reach your financial goals. Your decision and discipline will determine your success. Remember, a quitter never wins and a winner never quits.

How To Set Your Financial Goal in 7 Steps
Step 1: What is Your Financial Goal? (Be specific)
Step 2: Why is it Important to Achieve Your Goal? (Be honest)
Step 3: Set a Deadline to Achieve Your Goal (Break it down)
Step 4: Identify Your Obstacles (Recognize you will have challenges)
Step 5: Identify Your Allies (Who/What can help you achieve your goal?)
Step 6: Develop Your Financial Plan (Simply write it down)
Step 7: Maintain a Journal or Record (Track your activity)

Now that you’ve set your financial goal it’s time to take action. ACTION IS THE MOST IMPORTANT STEP. You will likely find that you, like most people, are a creature of habits. And, your habits determine your direction in life. If you want to achieve success with any goal, you will have to form positive habits. 

Habits typically take about 2 weeks of consistent effort to be formed. After that they become a natural effort. In the beginning you may have to force yourself to do the things you need to do to achieve your goal.

You must follow a process to get the desired result. Break down your larger goal into smaller goals. Reward yourself along the way when you reach your short-term goals.

Focus on what it is you want to achieve. Remind yourself on a regular basis why it is important for you to accomplish this goal. This means that you may have to post reminders or set alarms. You will want to find ways to interrupt any negative patterns that will keep you from reaching your goal and replace them with positive patterns. The best way to do this is by changing your thoughts and by associating with others who are goal oriented.

Your attitude will determine your success in achieving your goal. Regardless of where you are financially right now, you can improve your life. Fill your mind with positive thoughts by reading positive books and turning off the negative news. When you view life with a positive mental attitude you are leaps and bounds ahead of the rest.

Get started today on your financial goals, contact us for a no obligation Financial Review.

Yours to count on,
Barry Page, RFC
Registered Financial Consultant
Legacy Insurance Agency, PLLC 

Barry Page, RFC is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast. 

Legacy Insurance Agency

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