At worst, they are an excuse to beat yourself up when you don’t achieve them.  

“But it’s January!” you exclaim, and you need a goal, or the year will go by, and you will have done nothing. Which is literally not true, but I hear you.

You get to pick whatever goals you want.  Here are some great financial planning ones for this year:

• Update my financial plan.
• Max out my retirement plans.
• Fund my “amazing next adventure” account.
• Get a plan to sell my business started.
• Figure out what to do with these highly appreciated assets.
• Update my estate planning.
• Teach that kid cash flow with an allowance.
• (Or, my favorite….)  Get that kid out of the house and be financially independent.

I suspect at least one of these resonates. 

Let’s be honest: is it showing up as a “should,” or are you genuinely excited about getting it done? I suspect the former.

Let’s fix that.

First, Go Back to Bed

It’s January.  

Let’s be real: New Year’s resolutions are often overrated. The gym in January is the perfect example. People are brimming with motivation to work off holiday indulgences, but by February, most of them are gone.

Why? Because winter is a time for rest, not growth. We’re part of the natural world, and nothing grows in the winter. Fighting against this rhythm rarely works. So don’t fight it.

Those who have been reading my blogs and posts will know what I will say: If you must set a resolution or goal, okay.  Then, go back to your long winter nap and don’t do anything about your goals. Wake up after Groundhog Day (Imbolk) and start taking action toward your goals.

You stand a chance of your goals taking root and seeing them bloom.

Goals Are For Direction, Not Achieving

Seriously.  Goals are to point you in a particular direction.  Whether you achieve them or not is largely immaterial.  If you do, that’s super fun, but it’s not the point.

What you learn along the way, the mid-flight adjustments you make, the milestones you reach, or the supporting systems that get improved are really what this is all about.  Keep moving, and all your goals will happen, often unexpectedly and on their own timelines.

I’ve had goals personally and professionally for years that have yet to come to pass.  I get closer every year, even if that’s just in putting the foundation in place for those goals to come to fruition.

Pull in the Vision and the Emotions

Go ahead and set your goals.  Make them SMART (specific, measurable, achievable, relevant, and time-bound).  Set one(s) for this year and one(s) for 3-5 years out.

Yes, that part is boring. I know.  But here’s where the magic happens: bring in your vision and emotions.

Ask yourself:

• Why is this goal important to me?  
• Why do I want it?  
• Why is it relevant?
• Why is this coming up now?
• Why did you pick the timeframe that you did?

Essentially, you want to know what you’re going to get out of moving toward this goal.  That is your Why.  

If you are stuck, I love these questions from my coach, Ellen Rogin, with whom I’ve done business planning for a few years.  

• How will I feel when I achieve this?
• Who else wins with this goal?  
• How does accomplishing my goal support others?

Then sit with your eyes closed and feel what it will be like to achieve this goal. Imagine yourself walking somewhere after completing this goal and feel into that moment.  

The clearer you can get, the better.  Are you on a family vacation?  End-of-the-year dinner?  On that cruise, you always wanted to take?  Buying new clothes you feel great in?

Use all five senses where you can.

• What is physically around you that you can see?
• Who is with you?
• What are the sounds around you?
• The smells?  
• What tastes?

Burn this into your brain, and your brain will start finding ways to make it happen.

Financial goals, particularly around things like “I should get this done,” are particularly challenging.  It’s hard to get excited about increasing limits on an umbrella policy.  But it is possible to see you and your family adequately covered by a claim. How good it will feel to check this off the list, or how much fun it will be to say, “I got all my financial to-do’s done!”

Have Several Whys

One big trick here is to have several whys.  I expect different goals to have different whys. But you’re going to need several whys for each goal. 

The one that works when you’re at the office is not going to be the one that works at home.  The one that gets you out of bed in the morning is not necessarily the one that’s going to work at 3p when you’ve allotted time for a task that you just plain don’t feel like doing.

Avoid negative images, i.e., what would go wrong if you didn’t achieve the goal.  But I will admit that sometimes envisioning what would happen to my kids and how much my successor trustees would hate me if I didn’t get my succession planning done is motivating.

Write Them Down

Of course, write down your goals somewhere you can see them.  Do a vision board that works for you.  Refresh your reminder every month or two because that little sticky note will typically become part of the furniture, and you’ll stop seeing it.

I know folks who write down their goal (the same “big” goal) every day.  This doesn’t work for me, as it becomes rote.  However, I will revisit my vision of achieving my goal regularly, often during downtimes like at stoplights or on MUNI.  Even 30 seconds in the shower helps me.

I wish you all the best with this new year.  May January and re-entry into work be gentle and easy.  May your downtime now bring you great fruits of success in the spring and the summer!

If you’re ready to discuss your financial goals and whys, contact me at Lanning Financial.

Jessica Lanning, CFP®

Email: jessica@lanningfinancial.com
Phone: (415) 354-5699
LinkedIn: linkedin.com/in/jessicalanning
YouTube Channel: Lanning Financial on YouTube

Lanning Financial Inc. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.