Books like “The Wish” aside, what you really want to be true is not going to make things come true. Yet the vision of where you want to be can help you create that reality.
Career Prospects
If you don’t have a goal of where you want to be professionally, you won’t be able to plan on how to reach it. It may require changing jobs, seeking higher education, earning credentials or changing industries. However, simply wishing you had a better or higher paying job won’t make it so. You have to have the goal in mind to plan how to reach it.
Vision must be balanced by pragmatism. Not everyone has the skills and fortitude to be a doctor, lawyer or chemist. By dreaming big and flunking out, you do worse than if you set goals that are reasonable for yourself that you can achieve.
Savings
Chris Hogan, author of “Retire Inspired”, starts off by telling people to imagine the retirement they want to have. Do you want to be at home puttering around, watching TV and visiting the grandkids? Do you want to travel heavily? Do you want to engage in expensive hobbies?
You have to have a dream before you can plan how to achieve it; in his book, it is a financial number, the RIQ, that you have to have saved to generate the cash flow needed to fund that desired lifestyle. He asks you to have the dream first so you know how much money you need. Then you work backwards to the calculations on how much you have to save and invest per month.
This vision of the future serves several purposes. First is taking stock to see if you need to save more for the future and kick you into gear if you aren’t saving enough. The second reason he gives you a vision is so that you can control impulse purchases.
- No, we aren’t going to go to the destination wedding, we’ll send a gift and put the $3,000 in our retirement accounts instead.
- No, we won’t send the kid to Washington DC, we’ll save the $1500 for retirement or their college fund instead.
You have your grand vision that lets you defer gratification because you want that dream more. And it gives you a greater ability to stop spending whether driving the old car for another year or giving up a literal Latte factor.
Stay tuned for Part 2 on Friday!
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College Campus reference:
- Daisy Smith
- Publisher: Independently published
- Paperback: 110 pages
- My Accounting Ledger Editions
- Publisher: Independently published
- Paperback: 111 pages
- Insignia Accounts
- Publisher: Independently published
- Paperback: 103 pages
Last update on 2020-03-19 / Affiliate links / Images from Amazon Product Advertising API
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