31 May Wealth Creating Principles (goal Setting)
In today’s article I want to talk about Goal setting, one of the most neglected exercises in the world.
If I were to ask you where you want to be professionally, personally and financially in 5 years from now, would you be able to have an answer ready.
Statistics have shown that well over 90% of Americans (and that is the same in other counties too) do not have written goals.
As a matter of fact there was a study being done with Graduates from one of the Ivy Schools like Harvard or Yale. They asked all graduates if they had written goals. Only 3% of these Graduates had such written goals. Then they checked up on these same graduates 20 years later and found something fascinating. Most graduates had done well and had good jobs… but what they found was that the 3% with the written goal controlled more than 90% of the cumulative wealth of the entire group and also reported to be the happiest, satisfied with their lives.
This alone should make it clear how important written goals are. Or to ask this in more simple words, How do you know when you arrive if you don’t know where you are going? How do you even know which direction you should go and if the direction you are currently going is the right one?
So sit down write down goals for 3 months, 6 months, 1 year, 5 years, 10 years and 20 years. Be aware that chances are that your 5, 10 and 20 year goals will look completely different once you get there, but you have to start somewhere and start going towards something. You can always adjust down the road and as a matter of fact you should and must do that on a regular basis (like 2 times a year).
Twice a year, once at the beginning and once during your summer vacation, look at your goals and decide if you need to make some adjustments either to your goals or to the path you are currently taking towards them. Then make any adjustments and keep going.
You will be amazed of how fast you reach some goals and how you are reaching out for goals you have almost forgotten you had. Things just start happening which bring you towards these goals and all of a sudden, the next time you look at your list of goals you realize that a bunch of them are realized without you even noticing.