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Defining Financial Goals

Posted On: 2005-11-19
Length: 14:36

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Hi, this I Joan, and this is episode 15 of The Prosperity Show. Thanks for being here today. Our main site is prosperityplace.com where you can find lots of information about how you can improve your relationship with money and yourself. Our website for this show is The Prosperity Show.com, and if you want to get in touch with us, our voice mail line is 206-888-HELP, that's 206-888-HELP and I really love to hear from people. It helps me know where you are and how to help you move forward.

Today we're going to talk about deciding where you really want to go financially. When I say to people, what do you want, they say, "oh I want to make enough money to be free. I want financial freedom," and I'll say, well, what does that take? How much money do you want? And they'll come up with numbers like two million dollars, three million dollars, and I'll say, well is that your net worth, or is that your yearly income? And as I ask more specific questions it becomes clear that they haven't really thought through where they're going. Imagine if you will that you're going on a road trip, and you say, OK, I'm going on a road trip for two weeks. And I'm just going to get in my car and see where life takes me. And after two weeks of driving around, you will have gone places. You will have seen things, and if you're the kind of person who's willing to be satisfied with whatever you have, you'll be satisfied with that road trip. But if there's a specific thing that you really like to do, you better get out a map and say, ok, here's where I'd like to go, here are my options for getting there, and once I get there, here are my options for things I can do there. And it's the same thing with an income. If you just say I want to be wealthy, I want to be rich, I want to be comfortable. That's like getting in the car and just driving around for a couple of weeks. You're imagining where life is going to take you, and you're really hoping more than you are working towards a specific space, financially. So we're going to talk today about setting realistic goals and deciding where you really want to go. And these goals, if they're done properly, are not just financial. Because there's so much more involved in anything that has something to do with money. For example, if you say to me, well, I'd like to have an income of a million dollars a year, and I don't ask why, let's just say, ok, you want a million dollars a year income. What are you going to do with that money? Who's going to take care of the money? How is it going to change your lifestyle that you have now, and how is it going to change the people in your life? Because that is very important. I had a client who had dreams of living in this great big house. And she got to the point where she could buy the great big house. It was a bit of a stretch, but she felt if she got into the great big house...

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