Creating a solid financial plan now can have you living the life you imagined sooner than expected.
For many people, the idea of living a life filled with spontaneous travel, the acquisition of a vacation home, or the purchase of a sought-after luxury item can feel distant and unattainable. The dreams you have for your future self can often be put on hold to focus on your current obligations.
You can have the life you envision though – whether it’s the trip to the Italian Riviera you’ve spoken about for years, the sports car you’ve dreamt of owning since childhood, or the ability to spontaneously make life decisions that set you up to live the inspired life you’ve imagined for yourself. For some, that life may involve donating funds to charities and organizations that make an impact in their communities. For others, perhaps the purchase of a special family home.
While we all view living inspired lives in unique ways, the following tips can help set you on a path to create the life you dream about…right now. Don’t wait to realize your dreams and create the life you see for yourself, start planning now with specific action steps and you’ll be one day closer to living your future life, today.
Identify Specific Goals to Work Towards
To start, identify what your inspired life will look like. Write it down and make the goals specific so you know precisely what you are working towards. Will you own more than a primary residence? Where will it be and what will it look like. Will you travel multiple times a year? What countries will you visit and when? What charities do you envision supporting? Will you purchase a new luxury car? What make, model and color will it be? Will you pay off someone else’s mortgage, buy a business, or finally launch the new entrepreneurial endeavor you’ve always dreamt of for yourself? The more specific you can be in identifying your goals, with distinct details and future timelines, the greater clarity you will have when working towards your precise vision.
Create a Plan
Once you have your goals in place, start to work backwards and set smaller goals. If you are saving for a new home, a large trip, or the ongoing ability to have greater financial wealth, you will want to assess your current assets, credit, debt, spending habits, and savings. You may find it advantageous to meet with a financial advisor to lay out a plan to maximize your current investments, create new streams of income, or diversify your investments in a way that is more in line with meeting your goals in the short term. You may find you need to adjust some of your current spending habits to reprioritize meeting the deadlines you set for yourself. Whether that means cutting some of your current expenses, reducing debt and credit card use, refinancing your home, consolidating loans, or creating new wealth for yourself to meet the level of the future life you are building. Taking control of your finances at this stage in a concerted way will keep you focused on attaining the goals you’ve set.
Celebrate the Outcomes
With each step of the process, celebrate the wins and progress. Even the small ones. If you made it a goal to spend less and save more each month, celebrate the decisions you make day after day to adhere to this plan. Celebrate when you choose a more financially sound decision to keep working towards your goal. Or when you make a smart financial choice that you know gets you one step closer to the trip, the house, the car, the charitable giving goal, or the choice to help someone else in need. Celebrating how far you have come to take control of your financial future will not only keep you motivated, but it might just inspire someone else to do the same. Of course, when you ultimately achieve the goal you set for yourself, celebrate the exceptional milestone and be proud of the financial and personal decisions you made to achieve that moment.
The Bottom Line
Making smart money decisions in a diligent manner will reap long-term benefits that can help you achieve future financial success. If you set a focused goal, create a plan, work that plan, and seek professional resources to help you maximize your investments, you could soon be living the life you have envisioned for yourself in an inspired, confident, and comfortable way.
At Paramount Wealth, our mission is to take you beyond the basics and help you have the freedom to live your most inspired life. Whether your goal is to live a life of abundance or help others by paying it forward, we invite you to contact us today to schedule time with an advisor to design your wealth and support your freedom.
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision.
The attached information was developed by Threaded Marketing Group, an independent third party. Any opinions are those of the author and not necessarily Raymond James. Any information provided is for informational purposes only and does not constitute a recommendation.
There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or a loss regardless of the strategy selected. Prior to making an investment decision, please consult with your financial advisor about your individual situation.