| Resolution [rez-uh-loo-shuh n] - a course of action | | | | foreclosures, is not fair. But no great change happens |
| determined or decided on | | | | without a large feeling of discomfort. |
| We hear it all the time, "When the New Year comes, | | | | Maybe this year is that EYE OPENING RESOLUTION |
| I'm going to start a new diet, an exercise program, | | | | to ourselves that we are capable of MORE! |
| start saving more money, and get my financial house | | | | Taking Action at the Start of the New Year |
| in order..." Yadda, yadda, yadda. The fitness industry will | | | | 1. Always find yourself becoming a better YOU! |
| tell you that their biggest boom in business is always at | | | | At any point in your life, you're either growing as a |
| the beginning of the year and after a few months, | | | | better person or settling for mediocrity. Even within a |
| they will never see their newly signed up members | | | | tragedy, someone can find life-changing opportunities |
| again. Many health clubs make a bulk of their money | | | | for greatness! It is said that most people never pick up |
| from 80% of the people they do not see after Spring | | | | a book after high school and when they do, never |
| Break that continue to still pay monthly fees, along with | | | | read past page 19. People who live the most happy, |
| the regulars who come often and consistently. I find it | | | | fulfilled lives are constantly evolving in character, |
| funny when I ask personal trainers what people ask | | | | wisdom and contribution. What can you do differently |
| for when they are hired. People say, "I want the abs I | | | | this year that helps edify and build you up? |
| used to have in high school" or "fit into my favorite | | | | 2. Power of Focus |
| dress I have not work in years". | | | | We live in a society of multi-tasking and always being |
| Tax preparation offices, too, make a bulk of their | | | | accessible via phone or email. There is power in the |
| money early in the year as this time somewhat forces | | | | word, NO. It is OK to turn off that cellphone and not |
| people to reflect briefly on their financial situation. As | | | | check email during parts of the day. Do not confuse |
| most file their tax returns, they sit with anticipation of | | | | activity with productivity. People will have to respect |
| receiving a large tax refund or worse, borrow against | | | | your time and value your attention. That way you are |
| and paying interest on this large refund so they can | | | | less stressed. What few things can you concentrate |
| walk out of the office with cash in hand. | | | | on doing that give you the greatest energy and |
| President Obama, as you recall, had campaigned | | | | passion? |
| CHANGE as his path to victory. Yet, it is ultimately up | | | | 3. Maintaining accountability and support |
| to us to carry this vision into our reality. I personally | | | | In one of the best-selling books of all time, states "If a |
| witnessed thousands of people from all over the world | | | | man compares himself to himself, he is a fool". You |
| converge to Chicago with excitement and conviction | | | | may find yourself a fast runner amongst the group of |
| that history was being made. What an experience it | | | | people you normally hang out with only to take a step |
| was, drawing many to tears as we all saw the | | | | back and realize that everyone else was just walking. |
| dawning of a new era in America. | | | | We need to get around people who stretch, motivate |
| OK, now what. | | | | and inspire us to the greatness we all have inside. |
| What is our action plan for the next morning, the next | | | | When was the last time you did a personal inventory |
| year or the next generation? What sticks in the back | | | | and affirmed, outloud, your personal beliefs, talents and |
| of my mind is whether we, individually, can take the | | | | accomplishments? |
| same time many invested to campaign and watch | | | | 4. Prepare for worst case scenarios |
| Obama take victory to build up our own knowledge, | | | | While serving in the Marines, we were always taught |
| wisdom and support to make our own dreams | | | | to prepare for the worse but expect the best. Having |
| happen. Or will we just settle to live vicariously | | | | an action plan for when disaster strikes keeps us calm |
| watching someone else win and succeed? You see, it | | | | and confident in the midst of a storm. What are the life, |
| really is up to us in order to make change mean | | | | financial and spiritual lessons you learned from last |
| something. The change we hope for dwells within us. | | | | year that should be prevented and applied in the years |
| We are change. | | | | ahead? Have you sought out the right people to help |
| Why can't we make the beginning of our year a | | | | you create a system to avoid these pitfalls? |
| BOOM for ourselves just as the fitness industry or tax | | | | 5. Rethink traditional financial planning strategies |
| preparation businesses experience? Why not have | | | | If I told you that over 310 mortgage companies, 25 |
| this year find you to be the difference-maker within | | | | major banks and 5 elite financial services companies |
| your family, your generation and your circle of friends? | | | | where to FAIL in addition to a 35% drop in real estate |
| For New Year's resolutions to change our | | | | values and retirement accounts, what would you have |
| circumstances, we must have a clear emotional | | | | told me? I thought so. But horrific financial times have |
| connection to the results we seek. I recall extensive | | | | come to pass and projections of our economy getting |
| media coverage of citizens shedding tears of pain and | | | | stronger are bleak. These are rapidly changing times |
| joy during Obama's campaign and especially, his | | | | so the methods and strategies of traditional wealth |
| victory speech. Those citizens held a strong | | | | building and accumulation have to evolve as well. |
| connection for the message and vision of Obama and | | | | Although basic principles of discipline, prudence and |
| therefore made efforts to make certain his path to the | | | | discernment never change, the financial knowledge |
| White House became closer and ultimately, reality. | | | | handed down from previous generations must be |
| Fear can paralyze you in mediocrity | | | | re-evaluated. For example, most people consider their |
| I believe one of the reasons that resolutions never get | | | | home the biggest financial nest egg in their lifetime. |
| carried out is because it requires us to be | | | | However, according to the Boomer Consumer, 97% of |
| uncomfortable for a while! And since our comfort zone | | | | all homeowners have not been presented options in |
| is somewhat predictable, anything outside of it has no | | | | using home equity to fund their retirement and maintain |
| guarantee of success. Unfortunately, that is why many | | | | financial control. I can tell you, in an emergency situation, |
| give up too soon and continue to live a life of quiet | | | | what would you rather have, $100k of home equity or |
| desperation. Some get stuck with mental paralysis by | | | | $100k of cash? What traditional methods can you |
| listening to their own negative self-talk. This | | | | challenge this year that will help you explore more |
| self-imposed fear soon manifests into excuses. But | | | | options and alternatives you never knew existed? |
| champions like the great Michael Jordan, Muhammad | | | | Why were you not previously aware of these |
| Ali and Barrack Obama, (yes, even Tiger Woods) | | | | choices? |
| solely believe in the things that serve them which allow | | | | 6. (For parents with high school seniors) Submit college |
| them to better position themselves for success. They | | | | FASFA forms and tax preparation early |
| did not allow their upbringing, race issues, family | | | | For most people, the first two months of the year |
| predispositions or even old friends distract them from | | | | represents the time of the year to review their existing |
| the purpose and destiny they believe called to do. | | | | financial circumstances. In the mail they receive the bills |
| It has been said that we are only born with two fears. | | | | from Christmas, W-2 forms reflecting how much |
| Those two fears are the fear of falling and fear of | | | | money you made at your job and other 1099 forms |
| loud noises. Notice how both fears are natural physical | | | | from savings accounts or mutual funds. This is a great |
| reflexes. Every other fear is taught and self-directed. In | | | | time to assess your finances and get a jump start |
| order to bring ourselves to a year of resolution, we | | | | ahead. Financial aid from colleges are granted on a |
| have to ask ourselves, what FEAR is holding us back | | | | first-come, first-serve basis on properly completed |
| from the greatness, purpose and destiny I was born to | | | | forms ( and tax refunds remind us how much we |
| fulfill? | | | | gave Uncle Sam throughout the year. What |
| Rebuilding Our Confidence | | | | adjustments can you make with your financial |
| In order to get the change we want, we have to | | | | counselor so you can send your children to college |
| change our set of beliefs and behaviors. Albert Einstein | | | | without compromising your own financial security? |
| defined insanity as "continuing to do the same thing | | | | My mentor taught me a rhyme that goes, "Never let it |
| over and over again but expecting different results". | | | | rest, until good gets better and better gets best". I hope |
| Unless someone is able to take 100% responsibility for | | | | that this year we all commit to a meaningful |
| their own actions, it is much easier to STOP and find | | | | transformation that will mark the rising of a new |
| something less intensive that will make them feel | | | | generation of critical thinkers, innovators and |
| better. True transformation is not a casual process. | | | | implementers. Once we can take a step out in faith |
| Is our economy and personal financial situation a | | | | and in confidence, we are then able to discover |
| reflection of who we are? Are we not capable of | | | | exciting new worlds that were there all along. Only |
| more? Are we not capable of serving and giving back | | | | then, can our discipline and focus turn into the BELIEF |
| more? Are we really fed up of being fed up? Maybe | | | | for the change we have been asking for. |
| what has happened to us all, job losses and | | | | |