You cannot achieve a goal that you do not have. That sounds so obvious Yannick Ngakoue Womens Jersey , but we so easily forget it. We have wishes, desires, or dreams, but then don't turn them into goals. And then we wonder why we don't make progress toward our wishes Leonard Fournette Womens Jersey , desires, and dreams.
The Law of Dreams
It's been said that ?a goal is a dream with a deadline.? One of the keys to successfully achieving goals is to have a deadline that other people know about. This will help hold you accountable. And then if you really want to change your life, achieve the goal before the deadline.
The Law of One at a Time
When you are first learning how to set and achieve goals, it's best to start out with just one. This will allow you to:
focus on one goal at a time avoid getting overwhelmed experience the success of achieving a goal build momentum for the next goals
Remember Taven Bryan Womens Jersey , we all have to walk before we run. As you strengthen your goal setting muscles, you'll be ready to add more and work on several at the same time.
The Law of ?Too Many?
Mark Victor Hansen, author of ?Future Diary? encourages people to have 'too many goals.? Having an abundance of goals encourages our mind to be more and more creative in finding ways to reach all the goals.
The Law of Ink
?The dullest ink is stronger than the sharpest memory.?
In other words, write your goals down. Commit them to paper. Writing them down means tells your brain that you are serious.
The Law of Slipping
This is where lots of folks begin to lose sight of their goals. No matter how much we want to change something Jalen Ramsey Womens Jersey , it's human nature that we will slip up now and then. The danger when we slip up is to say ?Well, I blew. I might as well just give up.? Wrong. You fell off the horse, brush your self off and get back on it. This leads to........
The Law of Action
Never leave the place where you set a goal without taking some action toward it. This prevents the number one goal stealer, procrastination from setting in and creates momentum toward your goal.
The Law of Celebration
Remember that one of the most important tasks in life is to enjoy what you have achieved. When you meet a goal Telvin Smith Womens Jersey , have a goal celebration. Besides having fun, celebration builds momentum to set and get more goals.
You might have seen some TV ads recently where people literally carry their retirement 鈥渘umber鈥?with them. Each person鈥檚 number varies, but it鈥檚 usually in the $1-2 million range.
I like these ads because they reinforce the importance of setting a measurable retirement goal. But merely having a 鈥渘umber鈥?like the ones in these commercials isn鈥檛 enough. Why not? Well, in the first place we don鈥檛 know what the number represents. Is it net worth? Is it investable assets?
Second Nick Foles Womens Jersey , how does that number pay for your retirement expenses? In our previous article we discussed how retirement expenses can be grouped into two general categories: lump sum purchases or ongoing expenses. Lump sum purchases include such things as a house, cars, possibly a big trip or vacation. Ongoing expenses are recurring living expenses - monthly utility bills, food and clothing Gardner Minshew II Jersey , regular insurance payments, etc. Somehow your 鈥渘umber鈥?has to cover both categories of expenses. But how?
Some assets generate cash flow and some don鈥檛. That鈥檚 the missing ingredient.
Retirement 鈥渘umbers鈥?usually refer to net worth, which is a measure of your wealth. Let鈥檚 say your number is $1.5 million, and it represents your net worth at retirement. There are many combinations of assets and liabilities (debts) that result in a net worth of $1.5 million but to keep things simple let鈥檚 assume further that you have no debts. So you have $1.5 million in assets and no liabilities. You are a millionaire with no debts. Nice going! But we still need to make another assumption - about the composition of your assets.
Some assets generate cash flow Financial Planning and some don鈥檛. That鈥檚 the missing ingredient. Cash flow-generating assets can be used to pay for ongoing living expenses. And if your assets generate enough of a regular income stream - enough monthly cash flow - to pay for both your ongoing expenses and your periodic lump sum purchases Ryquell Armstead Jersey , then you will have become financially independent.
That鈥檚 really the ultimate goal, isn鈥檛 it鈥?Financial Independence Having a large net worth 鈥渘umber鈥?- having wealth - is good. In fact, it鈥檚 necessary. But it might not be enough to pay the bills. For that you need assets that generate cash flow. That鈥檚 even better.
But why wait until retirement to acquire assets that generate cash flow? Wouldn it make sense to start accumulating them when you
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