You’re probably not short on ambition or resources.
If you’re reading this, your earning ability is solid, and your investments may be performing decently.
But here’s the kicker: you’re still not where you want to be financially.
Why? It’s not about the “what” or the “how much.” It’s about the “where to.”
The Problem: Directionless Decisions
We’ve all been there. The market offers a plethora of choices:
- New stocks to invest in
- Investment strategies
- The next big thing in finance
Most of it is noise, not substance.
Without a clear direction, you’re like a ship in the ocean without a compass—bound to drift aimlessly.
You might open an account, buy familiar stocks, and hope for the best.
But hope isn’t a strategy.
You’re not really moving; you’re just treading water.
The Solution: A Custom Roadmap
Forget to-do lists, lofty goals, or stock pick recommendations. What you need is a custom roadmap—a strategic plan tailored to your financial goals and current situation. A roadmap does three crucial things:
- Prioritizes: Helps you focus on what’s essential, filtering out the noise.
- Streamlines: Makes your financial journey more efficient.
- Focuses: Keeps you aligned with your long-term objectives.
How to Create Your Custom Roadmap
Step 1: Assess Your Current State
Take stock of your assets, liabilities, income, and expenses. Know where you stand & think critically about the decisions you’ve made.
– how do I know I have enough insurance?
– am I invested properly?
– if I died or my spouse died, would my family be okay?
– if I was laid off, what would do? Could I prepare better?
– do I have a written budget with monthly savings goals?
Step 2: Define Your Long-Term Goals
Instead of saying, “I want to be rich,” aim for “I want to have $1 million in assets by age 50.”
Don’t just focus on the dollars. Pay attention to the “WHY”.
You want to retire early? Why does that matter to you? Why would it be a problem to retire late?
Step 3: Identify Milestones
Break down your main goal into smaller, achievable milestones.
This makes the journey less overwhelming.
Ask yourself these questions:
1. How much do you want to save per year? Why that number?
2. By what age do you want to have your debt paid off? Why then?
3. What’s your earning goal? How will you accomplish this without sacrificing family time?
4. What’s your consistent repeatable way of investing? Why are you betting your ability to afford your future on this strategy?
5. How will you know if you’re wrong? How will you plan on pivoting?
Step 4: Allocate Resources
Decide how much time, money, and effort each milestone requires.
Don’t just throw a number out.
Look at your budget & figure out what’s affordable.
If what you find is affordable is under 20%, either reassess your lifestyle or career.
Step 5: Monitor and Adjust
Life happens. Be prepared to revisit and adjust your roadmap as needed.
Again, how will you know if you’re making life altering mistakes?
Do your research. Be thoughtful. Be prepared to pivot.
The Power of Planning
According to a study by Charles Schwab, people with a written financial plan are 1.4 times more likely to achieve their financial goals than those without one.
Create yours or hire someone like Blaine Thiederman from Progress Wealth Management to do it for you.
Stop thinking, “If only I made more money.”
Start asking, “Do I know where the hell I’m going?”
Your route to financial freedom is likely clearer and shorter than you think. All you need is the right compass.
And that, my friends, is your key to a better future.
Email us your questions!