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Missed Fortune – The Right Questions Provide Direction

Posted on | September 16, 2013

Most of us desire to leave a legacy for those who will follow in our footsteps. This means sharing with our descendants not just our physical wealth, but the central lessons must know to live abundant lives as well.

This is why Missed Fortune blog readers will remember Doug talking about a new tradition in the Andrews family that we are calling Grandpa’s Camp.

The feedback was overwhelmingly positive from our readers that we wish to share another idea about making your family activities more meaningful as well.

Great things happen when a family finds time to sit down and answer the kind of questions that will shape our lives in the future.

Our friend and coach Dan Sullivan has inspired us to implement one such activity. It’s called “What Matters Most?” and it starts by writing down we consider worth keeping track of on a daily basis. This could include things like exercise or our weight or even how we’re doing with our money.

We also ask, “what’s worth measuring” or “what’s worth saving” and “what’s worth investing time, energy or money.” We take time to consider what is worth remembering permanently and what’s worth sacrificing for and what’s worth fighting and perhaps even dying for. This can be quite introspective, but this questioning causes us to zero in on the things that truly matter.

This helps us identify areas where our lives may be out of kilter. It also helps us establish our priorities in such a way that as we make the necessary adjustments, our lives fall into place.

Another Invaluable Question

Dan Sullivan has also taught us to ask, “What must have happened three years from now in order for my life to be where I’d want it to be?” This includes our physical, mental, and spiritual well-being.

When we ask this question in a financial sense, there are some things that many of us would consider indispensable to our future happiness. These could include building retirement savings in a tax-free vehicle where the money may accumulate, distribute, and eventually pass to our heirs without being subject to the effects of higher taxes.

It may also include protecting ourselves from rising inflation or the effects of continuing market volatility and uncertainty. It may include refinancing our home in order to take advantage of today’s low interest rates. When we take the time to ask and answer these questions as honestly as possible, we can start taking the actions that will lead us to the brighter future we wish to see.

By making our minds up early on, we won’t spin our wheels or waste our time, resources, or money by acting impulsively. In developing the proper habits, we consciously train our minds to stay on track for the right reasons.

Exercises like this consciously train our minds and bodies to unconsciously work in harmony with our values and our vision. The time to make the proper decisions is not in heat of the moment, but far enough in advance that we have a clear path to follow.

If you’d like to learn more about putting this kind of strategy to work for your financial future visit with a wealth architect today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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