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What Will This Bring
Written by Steve | Published: |
Happy New Year!
I hope you have had some time over the last couple of weeks to spend with loved ones and reflect on the simple joys of life.
There is something special about this time of year that allows us to open up to possibilities and new hopes.
Sometimes the outlook is exciting and promising and other times it is overwhelming and bleak, but it all depends on your intention.
As you are creating wealth one of the most powerful things you can do is take a step back and work to get clarity about what you really want your hard earned savings and investments to do for you.
Do you want your investments to create certainty and know they are growing year after year?
Do you want to have some money that you could lose it all but might strike it rich?
Do you want your money to grow in numbers on a screen to give you a perception that everything is ok?
Do you want to have cash flow that comes in month after month?
Do you want and like to work with tenants if you own and manage rental properties?
Where do you want your money to go if you get hit by the proverbial bus and don’t make it?
Do you want to share your wealth with the needy and underprivileged?
Do you want your money to help charities, causes and/or other organizations?
Do you want to overpay in taxes or find a way to pay the legal minimum?
Do you want your kids or beneficiaries to fight over your money after you leave this planet?
Do you want to have your money on public record and open to lawsuits?
How do you want your children to deal with and handle money?
Do you want to contribute to a child or grandchild’s education or mission program?
The list goes on and on.
And there is no right or wrong answer. After all it’s your money that you put your blood, sweat, and tears into.
However, based on the answers to your questions your approach most likely will be drastically different then your neighbors, brothers or sisters etc. because you have a unique perspective on life.
This doesn’t mean that you can throw out the universal principles of wealth building but I can tell you that I have been doing this a long time and have never seen an identical plan from one person to the next.
Another reason why I think most people are underserved by generic investments sitting in a government vehicle like a 401k or IRA where all you choose between is five different investment types and that’s all.
So if you want to make 2023 a great year for you and your family, spend some time gaining clarity on your wants, needs and desires relating to your savings and investments.