That is, if you’re not going to execute…
Sound financial planning is an absolute essential piece of the becoming financially free pie, but without action, you’re only left with the thought of pie and a grumbling stomach. It requires action to go to the grocery store, action to buy the ingredients, action to find a recipe, action to try the recipe, action to fail the first time, and action try all over again on your next pie.
Do you see a pattern somewhere?
Luckily enough, it also takes action to eat the pie!
The opposite of Action – Inaction – is the killer of all productivity.
I’m sure you’ve heard quotes such as
“You miss 100 percent of the shots you never take”
“Don’t wait, The time will never be just right.”
But as corny as they sound, they’re completely and utterly true.
Your financial plan may be so incredibly great that it could kill Buffett’s Berkshire Hathaway and lead you to be a billionaire in two years, but without follow through, who cares?
Build a Plan that matters to you.
I used to have really super ridiculously large and pointless goals such as:
- Be a Billionaire
- Own Daydream Island (It’s an island resort in the Whitsundays of Australia)
- Own Houses in 4 countries
These are nice goals and all, but honestly, what’s the point? Even If I was a billionaire, owned an island resort, and have four houses in different countries, would it have been worth all the work to get there?
In the end, I was true to myself and built a list of goals that matter more to me and who I truly am, not just numbers and material possessions I think would impress people.
I’ve found that it’s much easier to motivate myself with goals that matter to me than based on impressing other people.
How to Eat an Elephant – One bite at a time.
Your financial plan could seem really daunting and impossible. Heck, it’s hard to go from the 9-5 to working for yourself and having enough money to do whatever you want.
One of my goals, which is to be a millionaire by age 40 seems impossible at face value, but when it’s actually calculated out, I have to invest about $2,500 a month for the next 17 years.
Which one seems easier?
- 204 easy payments of only $2,499!!
That’s incredibly doable! You could pick up extra hours bartending somewhere and use that as your millionaire fund and still live a pretty good life from your day job salary.
When reviewing your plan, make it edible, scalable, and doable. We do things on a day-to-day basis, so make your plan that way as well.
To break down my goal even further I need to invest approximately $83 a day. If you put in the time, there are even full time bloggers that earn that much 😉 so it’s definitely doable.
So whatever your elephant is, break it down into pieces and tackle it accordingly. Either way, Act!