How to make this decade matter when it comes to investing: Part 1

What did you want 10 years ago that you have today?

Remember those goals you set as the clock hit 12 and you welcomed in the new year – how are you going with those? It doesn’t seem that long ago – yet it’s not that easy to remember those goals we made so excitedly and determinedly.

And what about the goals you set over the past 5 years? Or perhaps you didn’t set any.

It’s common to have trouble remembering what we did last weekend, let alone what our goals are.

How likely are we to hit goals we quickly forget?
How likely are we to get where we want to be – when we have no idea what we want?

Well, it’s not just you or I that have trouble with this.

A Harvard Business Study found:

85% of MBA graduates had no specific goals
13% had goals but didn’t write them down
3% had clear, written goals – and plans to make them happen

Yet what happened 10 years after this first interview was this:

The 3% of graduates who had clear, written goals – and plans to accomplish them – were earning, on average, ten times more than the 97% combined.

What do you want in 10 years?

Investment property is just a means to an end. What we really want is what the investment property will bring us. For you, it could be:

To retire earlier
To travel more often, at a whim
To have your home paid off
To have the freedom to work – or not to work
To work 2 days a week instead of 5 days a week
To be able to afford for your kids to get the best education
To spend time with your grandkids
To run your own business
Not to be worrying about getting a higher paying job
To pursue the hobbies you don’t seem to have time for at the moment
To be a chef, a CEO, a travel writer, or to spend more time volunteering for causes you’re passionate about.

Write these down. But don’t stop there.

Who do you need to BE to make this happen?

Notice I said “who do you need to be” – rather than “what do you need to do”.

Often we conjure up goals, get excited about them, then gradually forget about them as each day passes.

Instead, when we work out who we need to be, the identity we need to have to achieve our aspirations – we internalize it. It’s part of us.

For instance, if you’ve always wanted to run your own business – tell yourself and other people “I am a business owner”.

If you’ve always wanted to be a writer, say “I’m a writer”.
If you want to buy an investment property, say “I’m a property investor”.

Don’t worry if you don’t know how to begin. You can work it out – or get others to help you. Be the type of person you need to be to bring your dreams to life – then follow through.