Walt Disney

Developing Your Goals, Vision and Values

Establishing what you really want out of life is not an easy process because from an early age our attitude’s and experiences toward life and money have been influenced mainly by our parents, especially our attitude with money.  In the main they were very conservative, as they were motivated to protect and save their wealth.  That motivation was driven by the fear of losing their wealth. They also hid the effects of wealth, appreciating the security and stability wealth gave them rather than explore the possibilities of what wealth could achieve for them. The start of the 1960’s  changed all that.  Prosperity meant our perceptions about wealth changed. It has given us the freedom to use our financial resources not only to improve our lives but also the lives of our families and the community at large. Today we are more comfortable and open with our wealth, to pursue our goals, vision and values.

One of the first tasks is to help you establish and prioritise your goals, vision and values.  This can be more difficult than it sounds because some times we have the inability to express them for fear that  we will mix them up with our fantasies, i.e. what we would do if we won the lottery.

Goals can be accomplished as they are practical and achievable within a single lifetime.  They are also powerful motivators as they not only help you achieve what you want out of life not only just from a financial perspective, but also map out the quality of life that you want to aspire to.

Below is a sequence of scenarios you may like to reflect on:

1.    You have reached a point in your life where you feel financially secure – you have enough money and resources not only to care for all of your needs now, but in the future as well.

·         How would you live your life?

·         What  would you do with the money?

·         Would you change anything?

2.   You receive news that you have 10 years left to live – now that you know that your life will be over then.

·         What would you do with the time remaining?

·         Would this change your life?

·         If so, how will you change your life?

3.  At some stage we all have to confront our mortality

·         What dreams will be left unfilled?

·         What do I wish I had completed in life or had been in life?

·         What do I wish I had done?

·         What would I regret?

Once we have helped you establish your goals, vision and values the second stage is to develop a plan to execute them.  What is helpful is using measured values, i.e. for monetary goals these have to be quantitative rather than qualitative.  By dealing in numbers rather than emotions it is easier to see if they can be met.  Once those have been established you can then concentrate on your “core values” and these are established and achieved through time.  By dealing with facts it will be easier to know whether your goals and objectives can be turned into reality and incorporated into your day-to-day lives.

What is a Comprehensive Financial Plan? 

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