It’s that time of year again.
When gym parking lots are full, and you attempt to order a salad instead of a burger to help kickstart those resolutions you’ve made. When you make motivational post-it notes to put on your bathroom mirror and you track how many steps you’re taking and water you’re drinking every evening.
The problem is that resolutions DON’T work. I wrote about this in my blogpost New Year’s Revolution back in 2020. Eighty percent of New Year’s resolutions fail by mid-February, yet we all continue to make them each December 31st. That’s because there’s no real accountability (other than to us) to make those things happen. We have a thought or a saying rather than a goal or a plan to accomplish something.
When asked about goals, Gino Wickman, established business visionary and author, said, “what gets measured, gets done.” If you want to accomplish something life-changing and transformative in 2023, set a goal and measure it. You can’t run a marathon if you don’t walk a 5k, just as you can’t save $5,000 unless you start by saving $500. You can’t read that book that’s been laying on your nightstand if you don’t read the next ten pages, just as you can’t work on your relationships with your loved ones if you don’t send them a text or write them a letter. Develop a plan, measure it, and celebrate when you reach those milestones. Conversely, if you’re off-track, regroup and figure out how to get unstuck.
I write about habits frequently in this blogspace (Back to School, Take Time to Change) because we see the successes and failures that many investors have faced because of strong or weak financial habits. Those that are successful and developed goals and habits that allow them to spend less time worrying about retirement and more time enjoying it.
There are still 356 days left in 2023. That’s plenty of time to give up on that resolution and start planning towards a more meaningful and lasting goal. If you need some help, give us a call.