New Year Resolve: Questions for the New Year

by Jeff C. Johnson

The New Year’s resolution: that desired result that almost never is achieved.

Part of the problem with New Year’s resolutions is the focus on the outcome, not on the activity or actions required to achieve it.

For example, “I want to lose 10 pounds” is a good idea for some of us. But it’s a result, a desired outcome.

The better goal is to say, “I will eat fewer calories with each meal and walk 10 miles per week with an intended goal of losing 10 pounds before year-end.” This goal is something you can control; it’s specific, time-dimensioned, and can be measured. This goal can be achieved!

Consider those requirements if you are entering 2018 with a resolve to reach some level of achievement.

If you are thinking of how you can upgrade your financial life, why not decide to ask yourself how you are doing and set in motion a plan to improve? Here’s a list of questions taken from my book The Eight Points of Financial Confidence.

  1. Do you have one or more specific financial goals that you have identified? Is it in writing?
  2. Are you measuring your progress toward that goal or those goals?
  3. Have you offset your greatest financial risks with the right insurance? Or, are you paying too much for insurance?
  4. Do you have an investment management plan that is well thought-out and repeatable?
  5. When/if you quit working, what will be your income for the rest of your life?
  6. Have you determined who will receive the wealth you don’t spend during your lifetime?
  7. Do you have an education funding plan in place to support a worthy young person (as well as benefit our world)?
  8. For many Americans, income taxes are their greatest overhead expense. Are you as tax-efficient as you can be?

These are some simple yes/no questions to provoke thought. To create an action plan, pick up a copy of my book, the soon-t-be-released second edition of The Eight Points of Financial Confidence, available on this website for less than the cost of a latte and a caramel macchiato.

Read it with pen in hand and use it as a hands-on guide to getting your financial world together. You will have also cut 500 calories out of your daily count!

Have a healthy, happy, best year yet!