My back has been hurting on and off the last few years. After trying various solutions, I finally found a therapist who gave me some exercises that work.
Talk about a difference-maker! They not only help me feel better, they address the root cause of my pain.
But here’s the “shocking” great discovery I’ve made: For the exercises to work, I actually have to do them.
It isn’t complicated. When I follow my therapist’s plan, I feel better. When I don’t do these exercises that have proven time and again to be so effective, I feel worse.
But I have this problem. Lots of days, for multiple reasons, I fail to do them. On those days—you guessed it—my back screams at me. (Duh. How dumb can an ex-jock be, right?)
I tell you this story, because I see this same dynamic at work when it comes to personal financial plans.
You can spend hundreds of dollars on a brilliant financial plan, but if you don’t turn around and execute the plan, all you’ve done is light some good money on fire, kill a few trees, and set yourself up for future frustration.
A good plan that doesn’t get implemented is just as bad as no plan at all. At least when you don’t have a plan, you know you don’t. (And maybe that troubling fact can lodge in the back of your mind and perhaps prompt you to take action one day).
But when you have an unimplemented plan on your shelf, you can tell yourself a half-truth. You can rationalize, “Well, doing SOMETHING is better than nothing, right?”
Except that the right answer to that question is, “No, an unimplemented plan is not better if it has numbed you to problems you still haven’t addressed.”
A good plan is a great start, but it’s only that—a start. Since most of us run out of gas and often leave important projects unfinished, here’s my advice: Find someone who will: (1) help you create a wise plan; and (2) coach you through the implementation process so that you keep moving toward your goal.
In other words, get a good plan and a good coach to help you follow-through on that plan.
And speaking of implementing smart plans…what’s your plan to turn your retirement savings into regular retirement income (so that your money lasts as long as you do and you’re able to reach all your financial goals).
If you’re not sure how all that works, I’ve got a free tool that can help. It’s called the RISA (i.e., Retirement Income Strategy Assessment), and in just a few minutes it can show you what kind of retirement income plan best aligns with your personality, goals, and lifestyle. There’s no obligation, and you can access it by emailing me (bmoore@argentadvisors.com).
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