Achieving Your Financial Goals: A Secret to Success

Part I:
Do you have a goal to your financial success? Do you have a plan for reaching this goal? If you are like most people, you desire financial security and higher levels of financial success. The dream of financial freedom and a demonstration of business acumen are quite common as a precursor to reaching your ultimate vision, but how do you actually reach your objective? It all starts with a well conceived goal.

Have you ever worked on a major project like building a house, writing a book, creating a successful business venture, taking a extended trip, developing a larger community project or fund raiser, or created a large event (like a wedding, rock concert, class re-union, etc.)? Any of these projects can not reach success without a solid plan.

A Dream?of wealth or financial success is different than a well thought through plan. Planning starts with goal setting. It requires that you spend the time necessary to gather information, outline the necessary steps to achieve the project, develop a workable timeline, acquire the resources, and take the steps to move down the path to your goal.

These are simple concepts. Why do so many people have dreams that are never fulfilled? What steps must you take to achieve your dreams? You can not plan without a viable goal. You can not succeed on a large, important goal without sustained action. You can not achieve success without commitment and focus. If you are not driven,?can you accomplish your larger goals? Can learned attitudes or beliefs sabotage your success?

Part II:
Most people do not do the work.?The work is goal setting, planning, gathering the necessary resources, and the focused follow through for their success. People want the benefits of financial success without committing to the real required work. Sometimes the required work includes the work?on oneself to understand and then overcome ones own resistance to financial success. It is hard to attract money and financial success if you actually fear or loath wealth. Many people stand in their own way to achieving success. These people say that they want to succeed but do not believe that they will succeed. Many people who have not done the work?will reach financial goals and then sabotage their long-term objectives because they are not really ready for success.

A necessary secret to success:
If you are serious about achieving your financial goals, you must get serious about dealing with your deep resistance to success.

You may require support and coaching. In some cases you may have to go further and get good therapy to get to the source of your negative attitudes or beliefs. If you have not reached your highest levels of productivity and success, then you may have to get outside?perspective to overcome your barriers. If you think that you do not require extra support or coaching, and you want to make the same mistakes over and over, then do not make any changes. It will be more comfortable to do it the old?way, but do not expect better results. If you really want to gain the success that you desire then it is time to knuckle-down?and get to work. Be excited about the possibilities and as open as you can be to the new insights that will help to drive your success.

One resource for you to create some awareness about your possible sources of resistance and some new behaviors that you can adopt that will lead to financial success can be found in a book titled Secrets of the Millionaire Mind, Mastering the Inner Game of Wealth?by T. Harv Eker. I learned a lot by reading this book. Eker claims that there are 17 behaviors that are common for financially successful people that can be missing in less successful people and by modeling these behaviors you can move more easily toward your financial goals. You may want to take action and review this type of information.

Along the way, remember to make time to take good care of yourself. Financial success means nothing if you have compromised your physical, emotional, and spiritual health.

L. John Mason, Ph.D. is the author of the best selling "Guide to Stress Reduction." Since 1977, he has offered Executive Coaching and Training.

Please visit the Stress Education Center's website at http://www.dstress.com for articles, free ezine signup, and learn about the new telecourses that are available. If you would like information or a targeted proposal for training or coaching, please contact us at (707) 795-2228.

If you are looking to promote your training or coaching career, please investigate the Professional Stress Management Training and Certification Program for a secondary source of income or as career path.

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The Value of Time in Financial Planning

Planning your financial future may not sound like the most glamorous of things, but it can make a huge difference. The key is to understanding the value of time.

They say death and taxes are the two things you cant avoid. Well, they are wrong. There is a third thing ?time. Time passes us by no matter how we try to fight it with exercise, diet and, in some cases, plastic surgery! From this description, it may sound as though time is a bad thing. It all depends on how you use it.

You can turn the passage of time to your financial benefit if you understand it. In truth, we live in a now?world. Give me convenience or give me death! So many of us are used to getting things now, that the idea of doing something for a positive effect in ten or twenty years sounds ludicrous. Heck, most of us find it difficult to do such things even if we are talking about a benefit five years down the road. This is where you can make a major mistake in planning your financial future.

At its core, financial planning is really about time. The goal is to use dollars today in such a way as to maximize their future effect. Lets look at a simple example.

The American Dream for many people is to own their own home. Millions of us clamor forth to find our first home and come up with the money for a down payment. We then apply for a loan, go through the application process and wait/pray for an answer. Most of us never even think about the term of the loan ?the number of years it will be paid back over. We are just praying we get the financing and will worry about the detail later. This is a big mistake because it discounts time.

The traditional mortgage has a term of 30 years. This means you will be making that mortgage payment for 30 years or 360 months assuming you dont sell it before then. Think about that for a minute. If you are 30 years old when you borrow the money, you will be making your final payment when you are 60! And they say people are unwilling to commit to things!

For a person that understands the importance of time in financial planning, a different approach is usually taken with a mortgage. Instead of a 30 year term, they go with a 15 year term. Since there is less time involved in the payback, each dollar of their monthly payment is converted into a greater percentage of principal, to wit, they pay much less interest over the length of the loan. Ah, but the monthly payment is more? Yes, but you can buy a lower price home, build up equity for five to seven years and then trade up for something nicer. You effectively have more money and a better home in five to seven years instead of the financial anchor of a 30 year mortgage. This is why understanding time is so important!

As hard as it may be, you should take into account time as a factor in your investing. If you can come to grips with the future benefits of action taken today, you will really be happy when those future benefits come around.

Learn more about financial planning at UFCAmerica.com

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