How will you achieve your goals in 2009? - Ahwatukee Foothills News: Business

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

How will you achieve your goals in 2009?

Print
Font Size:
Default font size
Larger font size

Posted: Monday, January 5, 2009 12:00 am

What are your New Year's resolutions?

Maybe you want to get in better physical shape. Perhaps you resolved this is the year to get your finances in order. As a fitness enthusiast and a financial professional, I can't help but draw on the similarities of the two.

Each year, there are likely thousands of people who resolve to get in shape in the new year. Yet, before they know it, March 1 is here and the new home gym equipment is being used as a laundry rack or the greeter at the local gym who knew them by name in January barely remembers them.

I see a similar scenario in relation to personal finances. People say this will be the year they get out of debt, start saving, adding to their 401K or any list of important financial goals. Yet, this is also an area in which people often find themselves back to where they started at the end of the year.

What happens? Perhaps they lose motivation or don't have someone to help hold them accountable. Maybe they simply lack a viable plan.

If you have resolved that 2009 is the year to get your finances in order, consider these steps to help you succeed:

- Start by getting a snapshot of where you are now. What does your net worth statement look like? Are you carrying too much debt? Are you positioned for an unexpected expense or emergency? In the current economy, has your tolerance for investment risk changed?

- Now that you know where you are, the next question is, where do you want to be? What are your goals (both financial and non-financial) for the next year, three years and longer? Is your current "snapshot" offering you a high probability of reaching these goals?

- At this point, you should have determined where changes need to be made or, at least, identified where there may be "holes" in your plan. Are you prepared to make the necessary changes? If you have considered making changes in the past and not followed through, consider what you might do differently this year.

I recently overheard a couple of interesting comments at the gym. The first was a woman who told her friend that she had lost 10 pounds. The response was, "Who did you hire?"

It was an interesting assumption; perhaps her friend knew the woman had tried in the past to lose weight on her own and had failed. The second comment was by a personal trainer who said, "If you could have done it yourself, you would have already done it."

These comments may have been addressing personal fitness, but they convey a valid point regarding personal finances, too. If the goal is important to you, if you have tried to achieve it on your own in the past and have been unsuccessful, it may be beneficial to seek out assistance from a professional this year.

 

Bob Burger is an investment advisor for Perspective Financial Services, LLC, in Phoenix. He is a certified financial planner practitioner and a certified divorce financial analyst. Contact him at (602) 281-4357, Bob@MoneyAZ.com or http://www.moneyaz.com/">www.MoneyAZ.com.

More about

More about

More about

  • Discuss

Australia’s indigenous women artists set to make a splash in major U.S. exhibition

At 68, Aboriginal painter and matriarch Regina Pilawuk Wilson has a dream: to make the long journey from Australia’s outback to the U.S., wher…

Published: July 26, 2016 - 1:34 am @ http://nytlive.nytimes.com/womenintheworld/2016/07…

Bears Ears Sacred Site Unites 24 Tribes With Rock Climbers, Conservationists

Anne MinardA coalition of 24 Native American tribes working to create a conservation area would be strong. Add the support of rock climbers, l…

Published: July 25, 2016 - 11:59 pm @ http://indiancountrytodaymedianetwork.com/2015/07/…

Erdogan’s Purges Threaten Future of Turkey’s Secular Society

Print Turkish President Meets Opposition After Failed Coup Turkey Aims New Crackdown at Journalists, Academics, Airline Workers Turkish Ruling…

Published: July 25, 2016 - 11:37 pm @ http://www.voanews.com/content/erdogans-purges-thr…

Texas, facing a lawsuit, makes it easier for U.S.-born children of immigrants to get birth certificates

Last year, a group of Central American and Mexican immigrant parents sued Texas in federal court, claiming that the state had denied their chi…

Published: July 25, 2016 - 11:03 pm @ http://www.latimes.com/nation/la-na-texas-birth-ce…

Hiker rescues up in 2016; hundreds helped off Valley mountains so far

PHOENIX - It's a desperate situation that frankly firefighters are seeing way too often. "I think that this year we've just had some real trag…

Published: July 25, 2016 - 10:29 pm @ http://www.abc15.com/news/region-phoenix-metro/cen…

Protests Over Western Troops Threaten Libyan 'Unity' Government

Print Libya's UN-backed Government Condemns France Following Crash Three French Soldiers Killed During Operation in Libya Islamist-backed demo…

Published: July 25, 2016 - 9:36 pm @ http://www.voanews.com/content/libya-un-backed-uni…

Phoenix Serial Street Shooter likely using multiple vehicles

PHOENIX - Phoenix police said they are getting new details and tips about a serial shooter connected to seven murders . But investigators can’…

Published: July 25, 2016 - 8:58 pm @ http://www.abc15.com/news/region-phoenix-metro/wes…

Group behind $12/hour minimum wage initiative wants lawsuit dropped

Arizona Healthy Working Families, the group behind a ballot initiative to make the state's minimum wage $12 an hour by 2020 , wants to dismiss…

Published: July 25, 2016 - 8:35 pm @ http://www.abc15.com/news/state/group-behind-12-an…

Larry Fitzgerald remembers Dennis Green in essay

Dennis Green was more than just a football coach. In a Player’s Tribune piece written by Larry Fitzgerald, the wide receiver recalls his longt…

Published: July 25, 2016 - 8:28 pm @ http://arizonasports.com/story/744945/larry-fitzge…

Praising Kaine: How Clinton's choice of a widely respected senator drives a deep wedge into the GOP

Hillary Clinton announced her selection of Virginia Sen. Tim Kaine as her running mate late on Friday evening, and something incredible has al…

Published: July 25, 2016 - 8:27 pm @ http://www.dailykos.com/story/2016/07/23/1551229/-…

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…