If I flogged products that paid a commission, I’d have an immediate answer. But we give advice and before we can give any, we need to understand why you are investing, what you’re trying to achieve with your money.
If we don’t know where you want to get to, you could end up anywhere, which is why goal setting is so important.
High on the agenda in the first appointment we hold with clients is goal setting. In this session we aim to set 2 or 3 goals that require money and planning to achieve. For example:
1. To have the home loan repaid in 8 years.
2. To provide private secondary school education for the kids
3. To make work optional by age 52.
To do a thorough job we need to get a bit more specific, so for each goal we must go through five steps.
Step 1- Define the goal: To pay off the home loan within 10 years.
Step 2 – Establish the cost of the goal: The loan balance today is $350,000.
Step 3 – Commit to a date to achieve the goal: Within 10 years, so Monday the 4th of November, 2019.
Step 4 – Give the goal a name: Freedom!
Step 5 – How will you feel once you've achieved this goal?
Imagine it’s Monday, 4th of November 2019, you’re walking into the bank and you politely ask them to hand over the deed to the house because you now own it. In two or three words how would this make you feel? Amazing, relieved, secure?
So let’s say you had $10,000 and asked me where to invest it; If you had no other goals, it’s pretty simple what my advice is going to be (use it to reduce the home loan). You’re not going to pay for that advice, but when you have three or four goals all vying for priority, our advice is of much more value.
This goal setting process we use is very powerful. Giving each goal a name makes the goal yours and reflecting on the emotions you will feel upon achievement will trigger something called your reticular activator.
Your reticular activator is the part of your brain that stays on alert, arouses motivation and keeps you focused if life. If you’ve triggered it in the past, you know how powerful it is – it seems that once triggered, the world is conspiring to help you out, but it’s really just that you’re more alert to opportunities.
We receive fantastic feedback about our goal setting session. For one hour, we shut off the world and in a quiet environment focus on you and what you want to achieve in life – all at no cost.
We do not charge a fee for the first appointment, because it’s a chance for us to explore if we can add any value to your situation. Click here to schedule an appointment.
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