... will take time, a plan, periodic adjustments and a team effort.
We celebrated two remarkable achievements this month: the US women's national team's second consecutive World Cup victory and the 50th anniversary of the first moon landing.
Here's what these two milestones teach us about reaching our financial goals.
- Anything worth doing takes time. Most people's key financial goal is affording retirement. Doing that requires decades of saving. It's not as exciting as walking on the moon. It's a lot slower than winning the lottery. But it's the proven way to succeed.
- Anything worth doing requires a plan. If you listen to the astronauts or the women's national team players, you hear them talk again and again about having a plan and executing on the plan. (For example, check out this interview with North Carolina's four USWNT players.) The same is true for achieving your financial goals. Without a plan, you won't get far.
- No journey is a straight line. NASA and the USWNT overcame too many hurdles to count. Financial success will periodically require adjustments -- when your job changes, your goals change or the outside world changes.
- Anything worth doing is a team effort. There was a good article in our local paper in which one of North Carolina's most successful entrepreneurs -- who worked on the NASA team 50+ years ago -- points out that 400,000 scientists, mathematicians and others played critical roles in the moon landing. Three astronauts got a lot of attention, but they were only the most visible team members. The same can be said for the 11 USWNT starters. I urge you to get help with your financial plan --preferably ongoing financial planning advice. There's too much risk in flying solo.
At Old Peak, we have our own "moonshot": to build a financial planning firm helping thousands of people get personalized, comprehensive advice that actually helps them achieve their financial goals -- all for a fair price. It will take time, a plan, periodic adjustments and an ever-expanding team. But we believe.
I hope you're ready to commit to your own moonshot.