As a follow-up to yesterday’s post, I thought of giving a few pointers on working with BIG life goals. These may bring true excitement and passion to us, but at the same time, they may look overwhelming and impossible to tackle.
If you have started working on your goals at least 10-15 minutes a day, I hope you have, you may want to start looking into the BIG goals of your life simultaneously. I would add an extra 15 minutes a week to work on these because they are truly worth it. They are important for your happiness and will have to hold a reserved time in addition to your daily goals (mind you, life goal milestones will eventually be a part of your daily goals as well… ). I would recommend working on these on Sunday to include required steps in your weekly/daily goals. Now let’s take a step back to understand how to do this.
The key to tackling life goals is to slice them into manageable pieces. In other words, would you try to gobble down a whole turkey?? Of course not… you could slice pieces to place on the serving dish, then split some more for your own plate, then cut in smaller bite sizes for an easy chewing experience. Make sense?
Here is a non-culinary example, slicing down an estimate 20 year goal down to monthly goals:
- 20 YEAR GOAL: Have assets of 1 million dollars by age 65 (that’s in 20 years let’s say)
Now break it in half, what do you want to do concretely to get your 1 million dollars in assets in 20 years? Do you want to get into real estate? What should your goal be in 10 years then?
- 10 YEAR GOAL: Have 8 condos/town houses (8×125,000$=1,000,000$) under my name and rent them.
- 5 YEAR GOAL: Have 4 condos/town houses under my name and rent them.
- YEAR 1 TO 5 GOAL: Buy 1 condo/town house a year every year
So now I’ve broken it down to buying 1 condo/town house by end of this year, YEAR1. How do I break it down to 12 months? What do you need to buy this property? Here are some examples:
- Find a real estate agent (or take the course and get accreditation to become your own if this interests you)
- Ask your accountant (or find one to ask) about your current situation and what you need to finance a new property.
- Look for a broker or a bank, or go to your own bank to research the mortgage requirements and where you stand in credit terms.
- Look for properties you would be interested in.
These smaller goals or milestones are much easier to manage and you can set a timeframe to get them done one by one. Seeing how you evolve in this step by step process is immensely motivating and you actually get closer to your bigger longer-term goals.
This was a wealth related example, but the same applies to health, work, family, romance and overall happiness. If you want more examples in your particular area of interest, don’t hesitate to contact me!! Other readers will benefit from your questions, whether you ask them in comments or anonymously by email (in this case, I’ll just create a different post to give the same info to others).
Quick but very important note: these life goals are the first to take the back burner in your daily goals. Be sure to highlight them and do them first, that way they won’t be left behind the day to day work and routine to do urgencies.
Don’t forget to let me know how you like working on these BIG goals and especially if you found my hints helpful!