Writing this blog article from the hotel room gives me a different feel. Something fresh. Something new. However, I know this will be more frequent as I plan to travel more often with my wife and family as part of my retirement.
While thinking of the idea to write and seeing my wife busying over the itinerary on the bed, an idea just popped up in my head – we plan for our holidays more than we plan for our financial life.
This is true.
Yes. We spend more time planning for our holidays to the smallest details because we want everything to go right and that we get the experience we wanted. We want to make sure that whatever we have planned comes true. We do not tolerate variances in our travel plans. We are all prepared to complain to the whole world should the airlines or the travel agencies screw up. We are so serious that we don’t take NO for an answer.
But when it comes to our financial lives, most of us rarely gives it any serious thought. We take a different approach and mindset. We don’t go down to the smallest details to ensure that the financial plans that we put in place will turn into fruition. We don’t see it as an important event. We don’t even want to think about it. We live day by day. In fact, we see it as something that can wait till another day, month, year, decade, or until the day when you have the money.
In fact, most of us plan our financial lives in this haphazard manner. We leave it to our boss who controls our paycheck. We leave it to the economy who controls our business. We leave it to our government who controls our retirement. Leaving our financial future to someone else is a BIG risk by any count.
It is time we take control of our financial future.
Time is of the essence
Those who waited for the money to come in to start planning will eventually end up broke. History is full of such cases.
The fact is that no one gets rich by waiting for the money to come in. NO ONE.
Getting rich is a choice in the making. And anything that requires a choice, requires careful thinking, planning, and execution.
We need to get to the idea that it is NOT the money that makes you rich or poor. It is something else that we all have from the day of our birth – TIME.
Whether you are the President of the United States or the handy-fix man, we all have 24 hours to our name every day of our life. Nothing more and nothing less. This is our real wealth. Our real wealth lies in the way we use our time. Period.
The moment we start to use our time carefully, everything shall fall into place including your financial life.
The younger you are, the chances of financial success in your lifetime increases by a factor of 10. If you have read my previous blog article, I mentioned that it is easier to get rich now that ever before. And this is the truth as far as my experience can tell.
When is a good time?
I have been asked this question countless of times.
Waiting for your “time” to come is like you getting into your car, started the engine, and waiting for all the traffic lights to turn green before you move your car from your carpark to your office. This will NEVER happen. You will NEVER get started. You will either become part of the car seat or be fossilized in that driver’s seat. A sad ending for those who waited.
Another reason why most of us waited to plan for our financial future is due to our education upbringing. We were “educated” to be right all the time. We were brought up to crave for the star stickers on our school homework. We were “rewarded” by our peers, teachers, and parents for getting all the stars. We were punished by our peers, teachers, and parents for getting a “F” on our schoolwork.
As such, from a very young age, we only want “perfection” and not “mistakes.” We shun mistakes. Mistakes that could make you a greater person in the later part of your life. Sadly, we have lost this ability to learn from our mistakes from a very young age. A great loss by any count.
In my opinion, there is no such thing as a mistake. Mistakes are just a feedback system that teaches me to do it differently the next time. It is a way of learning that no educational system or professor can teach.
Therefore, the best time to start planning for your financial future is NOW.
No one plans to fail. Many fails to PLAN.
Thank you for reading my blog article.
Profitable trading to you.
CEO & Founder, AlgoInsights