When you ask someone what they most want to do or accomplish in the next twelve months, it is easy for them to identify what they would like to be true. At the beginning of each year millions of people establish a set of New Year's Resolutions. We all know what we want to be true about our life. We know exactly what we would like to change, improve, or accomplish. In other words we all know what we want to spend our money on. We have a dream and we want to fund that dream. As we discussed last week, it is not the money that is important, it is what the money will buy whether that is a vacation, a new deck on the back of the house, a kitchen renovation, college education, or a comfortable retirement. Each of us knows exactly what we desire.
If the money is not what is important and what we want to buy is, do you see the disconnect in most conversations between an advisor and their clients? The advisor focuses on the money and how it is managed and the clients wants to focus on what they want to buy and how to make that a reality.
This week ask yourself what it is that you most want of have, do, or accomplish in the next twelve months and ask those around you what they most what to accomplish. Remember this is what is important to you and to them. Record that information. Next week we will discuss how to partner with those around you to make certain they accomplish what they want and it does not become just another New Years Resolution that is unachievable.