March 2, 2022 – You have goals. I know you do because we all do! Big dreams, deep longings, and an awareness that it is up to you to make things happen. Some of us know exactly what we are trying to achieve, as well as what motivates and inspires us. Life is there for the taking. Others are unsure. They do not possess the clarity necessary to create forward momentum. Without a destination, the roadmap is challenging to imagine, let alone draw. What is clear is that the starting point needs a change.
As Financial Life Guides, we would be of limited purpose if our clients did not give us some sense of their direction, goals, where they want to be, or the life they want to live. You would think this is an easy concept to grasp to provide personal clarity but think again. It is not an intuitive process.
Sure, we can pose probing questions to help create your plan. Where do you see yourself in five years? What do you imagine your future partner to be like? How much money will you make? When will you retire, and where will you be living?
Can you confidently reply to these questions? Most people cannot, and I could not answer them in my younger years, nor all of them today despite many years of “hindsight.” It is easy to rationalize that developing a plan is challenging and, given the almost 100% chance of it changing over time, is not particularly worthwhile. “Living in the moment,” a view put forth by Oprah Winfrey, speaks to letting go of the past and not waiting for the future. Being aware and “being present” also has a significant benefit for mental wellness.
Alas, every coin has two sides. When you live solely for the moment, you tend to act on impulse. Your thoughts and emotions are about today, making your actions a byproduct of your current circumstance rather than a conscious choice. Unfortunately, this is a recipe for making regretful decisions. My advice to you is to engage in both practices. Since living in the moment seems to come easy to many, especially those receiving daily Amazon deliveries, let’s get back to thinking about the “future you.”
My personal experience, as well as experience with clients, has let me realize that one of the reasons people can’t describe “who they want to be” or “what they want,” let alone how to get there, is because they have not yet figured out “why they want to be.” In his seminal work “Start with Why,” Simon Sinek describes the importance of understanding your “why.” What motivates you, what inspires you, what makes you look forward to waking up and starting your day? These days, people refer to this exercise as finding your purpose, your passion. Maybe, but just saying those words would be a tall order for most of us to tackle. Let’s keep it more straightforward. What is really important to you? What are your highest priorities in life? What above all would provide a sense of happiness?
Clients seeking this clarity in their lives are taken through a comprehensive opportunity to discover and integrate a financial life plan that connects “meaning with money.” The process, known as EVOKE®, was developed by George Kinder, also known as the “Father of Life Planning.” An essential step in this process is called Visualization.
After initial conversations, which allow the “exploration” of many potential exciting opportunities, we ask our clients to think about their answers to three questions:
Question #1: Imagine you are financially secure and that you have all the money you need for the rest of your life. How would you live your life? Would you change anything? What would you do?
Question #2: This time, you visit a doctor who informs you that you have only 5-10 years left to live. The good news is that you will never be sick, and the bad news is that you will have no notice of the moment of your death. What will you do in the years you have remaining? Will you change your life, and how will you do it?
Question #3: This time, your doctor shocks you with the news that you have only one day to live. Notice what feelings arise as you confront your very real mortality. Reflecting on your life, on all your accomplishments, as well as on all the things that remain undone, ask yourself:
- What did I miss?
- Who did I not get to be?
- What did I not get to do?
Thoughtfully answering these three questions can be a cathartic experience for some clients, and it can bring the clarity they seek relating to their purpose, mission, and their “why.” For others, it’s a way to step away from the moment to think about a broader life perspective. In either case, it gives you permission to spend time thinking about yourself and take control of your future!
Any roadmap will require some additional details to be helpful. So does the financial life plan. Once again, we ask clients to visualize. We ask them to describe their ideal day, week, and year. How can they tap into the power of visualization and enjoy all its benefits? Generally speaking, they need to imagine the specific situation in as many details as possible using all their senses – you can see it, smell it, hear it, feel it and taste it. For many people, it helps when they close their eyes, and then others prefer to write it all down instead of doing it purely in their minds. Visualization has been used for a very long time in sports. Muhammad Ali’s famous quote, “If my mind can conceive it and my heart can believe it – then I can achieve it,” is a testament to the power of visualization.
Also known as “imagery,” visualization can help you achieve financial goals and is often used to reduce stress and worry in the healthcare profession. One of the best ways to face your fears and reduce your worries is to ask yourself the question, “what is the very worst that can happen!” Answering this question, complete with all the imagery you can conjure up to feel, provides you with all the information necessary to combat the fear. In most instances, the imagery leads you to the conclusion, “it’s not as bad as I thought,” or “I could solve this problem, or at least most of it.” Making it seem real makes it seem manageable.
As you can see, it’s about visualizing in your mind, on paper, or on a blank canvas. Approach it with a curious and open mind and try out different options to find what works best for you. One of its most significant advantages is that you can literally do it everywhere – on the train, at home, at work. Your mind is truly powerful, so keep exploring and create the life you want with the help of visualization.