Direction of Your Life

Do you feel like life is just a little out of sync? In the crazy world in which we now find ourselves, it is critical to create a safe place to give you hope and optimism. The best method of creating this stability in your life is to create and monitor your activities and emotions with a life plan.

Life planning has become an industry unto itself. There is more to your life than financial matters. You have relationships, hobbies and other activities that can’t be purchased with money. By properly setting your goals and life plan into motion, you have found your “true north”.

When you have properly placed your passions and actions into a formulated methodology that increases your probabilities for success, you are on your way. Think about these three aspects of life when planning your future. First, remember that life is finite. This is not a morbid tale but one that gives you urgency to seek your best life on your terms. If you are granted only twenty-four hours to do what you want to do in life, would you be doing what you are doing now?

Your happiness depends on the framework you have placed around yourself. Friends, community and family, all contribute greatly to the quality of life you lead. It is not all about money. I know several people who are very rich in worldly goods but bankrupt of happiness. On his deathbed, a very successful real estate developer in California told a young Darren Hardy that he made one mistake in life – he is poor. When the confused teenager looked at the dying man, he exclaimed, “You have 7 houses worth millions of dollars, cars worth millions of dollars and other investments that contribute to your overwhelming wealth! How can you say you are poor?” The wise, old man pulled the boy closer to him and, in a raspy voice wrecked by radiation and cancer treatments said, “I am poor because I spent all of my time making money and failed to create true wealth by having relationships with others.”

The second aspect of life is future thinking. Too often we find ourselves mired in the world of today. Thoughts of life in the future seem fleeting and so far out of our realm of thinking that they are irrelevant. By applying a little of your current assets and income to your future, you would be amazed at the potential results. The Chinese proverb comes to mind about our future. It states, “The best time to plant a tree was 20 years ago. The next best time is now.” Don’t allow the irreversible passage of time rob you from a lifetime of happiness by merely enjoying today beyond your means.

Lastly, the aspect of life that makes the most impact is choice. Og Mandino, the New York Times Bestselling Author, wrote in his book titled, Choice, “The key is choice. You have options. You need not spend your life wallowing in failure, ignorance, grief, poverty, shame, and self-pity. There is a better way to live!”

Live your life with passion and happiness. Set your future in motion as you define it. The best method of accomplishing these actions is to focus on your future while living for today. A CERTIFIED FINANCIAL PLANNER™ professional can help you plan for the best outcomes in your life. This choice is a simple one…

Related Podcasts

Your Philosophy Determines Your Success

Often people look at others in determining their success achievement as valid. What is not known about the person is their background, mindset and skillset. When defining your success in terms of control of your life, financially or in any other measure, it is critical that you understand the reasons for such accomplishment.

Philosophy is the basis for all of your functions in life. By learning and adapting a belief system that you are capable, deserving and endowed with potential, you are accepting your philosophy to be one destined for success. How do you define success? For example, recently a billionaire in the United States flew his own spaceship to the atmosphere of the Earth for approximately eleven minutes. He reached the Earth and was giving a press conference where he remarked, “The mission was a great success!”

The philosophy of the ultra-wealthy is one of unlimited capability. To create a mindset that you are capable of achieving your utmost desires and goals is a powerful concept. It is my belief that each of us is endowed with greatness awaiting to be shown to the world. This revelation may not come in the form of wealth as defined by the world but rather through knowledge, health, spirituality and other means.

First, you must think about your life and what would be the most impactful method of leaving your legacy. This seems to be the most difficult step of establishing a philosophy that will guide your life. In its basic terms, it is actually very simple. What do you value most in life? Is it your children, spouse, charity, church, community, grandchildren? Once the value determinant is defined, you may realize a different strategy for your life emerges.

For example, if you wish to leave a legacy to your grandchildren, your philosophy and approach to life would be a perpetual gift to each generation. You may decide to leave poems depicting your love and admiration for them. Or you may simply wish to leave photographs with descriptions of their ancestry and the wonderful history of their family.

One means in which I am leaving a legacy for my children is through journaling. Each time I write in my private journals, which will only be read once I have expired, I am leaving my philosophy of life, thoughts about the deeper meaning of relationships and values I hope to instill in my family. Even though I am verbally teaching our children these meanings, when they are older the words of my journals will resonate the teaching, they were granted while I was living.

Philosophy also applies to your financial approach to lifetime independence. When a person adopts a philosophy of living within his means, being charitable to others and investing in a prudent, consistent manner, success will truly be achieved. If you wish to learn more about philosophy, make sure to bookmark this site.

Disengage from the busyness of the world and think about your approach to life and its many wonderful facets that you wish to leave to your family and friends. The only negative in this process is that you may realize you have a lot of life to live.

Related Podcasts

Change Your Philosophy About Money and Change Your Life

One of the greatest powers of wealth is your philosophy toward money. This year has been a challenge to many of us and you may have not met your savings goal or some other type of goal. However, our philosophy of life doesn’t change whichever way the wind blows economically or otherwise.

Think about your deepest convictions about life – personal, professional, marital, charitable, etc. Most likely these deeply rooted philosophical beliefs came from someone in your family or a close friend or an author of a book you read. My beliefs about money came to me early in life from my parents and, surprisingly perhaps, Jim Rohn and Zig Ziglar. Philosophy is what keeps you grounded during times like this that we are currently experiencing.

One of the greatest habits you can foster is the creation and continuance of your philosophy of money. Too many of us are chasing wealth and overlooking diamonds on the way. What I am referring to is the fact that money doesn’t define us in life but rather it affords us the opportunities we receive and the freedoms to enjoy them. Let’s analyze the thoughts of the billionaires of the United States, a very small group, and attempt to understand their philosophy about wealth. Wealthy individuals view money in long-term time horizons. There are no “get rich quick” schemes to lasting wealth. By diligently and consistently working toward their goals for success every day, the billionaires of our country amass great fortunes that last far beyond their lifetimes.

Another philosophy upheld by billionaires is their optimistic attitude. Do you believe that positive people attract opportunities? It certainly does! By maintaining an attitude of positivity and optimism, the people you meet during your day will notice your demeanor and reward you with a smile or kind gesture in return. This is another means of billionaires discovering the next great investment that will continue to grow their wealth.

The philosophy of “pay yourself first” is evidenced by the lifestyles of the ultra-rich. This approach to life is to invest your money toward your long-term goals first and then use the remainder for your current lifestyle. The key to balancing this philosophy is to clearly articulate and write down your goals. By focusing on the bigger future, you will not frivolously waste your resources today. One method you can demonstrate this philosophy is your current retirement account. Instead of instant gratification for a new vehicle or boat, be deliberate about funding your future and save for the asset you desire. To illustrate the opposite of this philosophy, many people will utilize debt to purchase their “toys” and when retirement or an emergency arises, they are ill prepared and sink further into debt.

Lastly, money is nothing more than a ticket to freedom. Your choices that are availed to you through your preparedness for life are considerable. Think about your freedom of choosing a place to live, the freedom to choose the type of car you drive, the freedom to support the charity you believe is making a difference, etc. These freedoms are critical to the state of happiness you enjoy in life.

During my speeches across the United States, I often state, “Money has never purchased happiness but it can lease joy on a long-term basis”. I am amazed this statement continues to confuse people by its simple inference. It’s Christmas and time to think about your goals for 2021. Give some thought to changing your philosophy about money and life. The rewards you will gain are impactful and world-changing. If you wish to learn more about goal setting and other philosophical approaches to life and money, go to www.compasscapitalmgt.com.

Wishing each of you a wonderful Christmas and a Happy New Year!

Note: The “Invest in Yourself” column will not be published for the next two weeks. We will resume publication the week of January 4, 2021.)

Related Podcasts