This is an odd time of the year.
It’s the best time of the year, but it’s odd.
It’s the time of year when you realize how much things have changed.
As you read this, I will be on the road to see family I haven’t seen in over a year.
We’ll all observe the following changes:
- The kids are taller, and some are walking and talking.
- There are new children.
- The adults are probably a few pounds heavier and look older.
- I’ll get a few comments on my graying hair.
We’ll be catching up, smiling, eating great food in great company, and reveling in the mystery of change.
Change is a constant in life.
- Sometimes, you change your life, and sometimes, someone else changes it for you.
- Sometimes, things change for the better, others for the worse.
- Sometimes, change doesn’t matter; other times, it changes everything.
In your financial life, you want to be in control of as many things as possible so that when things change or need to change, you are in a position of strength, not weakness.
So how to change your financial life?
Look no further than how most of you are funding your retirements.
Slowly, over time.
I’ve never met a client with a perfect financial life.
My dad taught me there’s no such thing as a perfect portfolio.
There are always things you can do to improve.
I do this for a living, and I still have things on my list for my family to optimize our financial life.
Gosh, “optimize our financial life” sounds as fun as watching paint dry, but it’s essential.
Tiger Woods, the GOAT golfer, put the time in to get great.
You need to do the same (I do too).
Tiger, at the height of his career, still practiced like crazy to “optimize his game.”
Why?
If he didn’t, his game would change for the worse.
He could control his game by putting the time in on the putting green and driving range.
It took him two decades to ascend to the top, and even when he was at the top, he still put in the time.
Our financial lives are no different.
People’s financial lives typically peak in their 50s and 60s, and when they do, there’s still a ton of work to be done to strengthen and improve financial resilience heading into retirement.
The work required to achieve your financial goals always takes time, and once you’ve completed them, there are always more things to do.
Financial lives are built on repetition.
Great financial lives are built by doing a lot of the right repetition.
I know this sounds a bit cold, but hear me out: 2,500,000 people have seen our content on Instagram and Facebook in the past six months.
You chose to be here to learn about money out of that group, and that’s awesome.
And here’s what I want for you in the new year knowing you are here to make a difference in your financial life:
Commit to change by doing things in your control.
- Tax loss sell
- Pay off debt faster
- Do roth conversions
- Get a retirement plan
- Up your contributions
- Hire a financial advisor
- Fund 529s for your kids
- Update your estate plan
- Review your insurance strategy
These are all things you can do that are in your control and good.
