Tuesday, October 7, 2008

so you don't have a GOAL ?

I mentioned before even if you don't have a goal, you should still do step 1 and 2 which are compulsory in Personal Finance.  All other steps are optional and subject to discussion, debate and negotiation ... The compulsory steps are;

2.  Setup an Automatic Saving Mechanism ( ie. Standing Instruction )

That will at least make you a millionaire when you retire. ( millionaire by the time you retire is not as much as what you think know )  Or that will help you 'lost less' by cutting the inflation effect by half !

If you want to move on to 'save more', you will have to have goals.  Else not only you may not 'earn more', you may even lose the firm fundamental ground you have built from step 1 and 2.

However, I am still not going to talk about goal yet.  Let's talk about Life instead ...

First draw a circle to represend your life ...


Then write down all the big events that Should Happen in your life ...  It doesn't matter what they are.  Just write down whatever that comes to your mind now.  They don't have to be correct and you can change later.  But you must write something down !



There you go !  You have a picutre representation of your life !

So next start think about what you like to do with your life.  What you love to do now !  Will you still do it in future ?  What are the things that you wish to do but you are not doing now ?  Start putting them into your Life Line too !

So what's next ?  Good question !  But don't ask me, ask yourself !  What do you want to get out of your own Life Line that you have just drawn.  I started this but YOU WILL HAVE TO ANSWER THIS LAST QUESTION NOW ...

...

Those who don't like circle can also draw life line in a straight line.  It doesn't matter how you draw the line, as long as you write down the big events and what you love to do now and future.




So what does your Life Line looks like and what did you get out of it ?


16 comments:

You and me said...
This comment has been removed by the author.
** OUT OF TRACK 思 想 出 軌 ** said...

good reminder of life as an aged man... hehe...
but i think u can elaborate more. as a young and goal-less youngster i still dont quite get what i want in life as goal... basically it is either too far to talk about or too difficult to be listed down with too many uncertain factors...

Michael Tsen said...

i purposely leave out the 3rd picture which answers "what do you like to do" ... basically it can be like this too ...

1) I love travel
2) I will travel to London in 2010
3) I will travel to Mexico in 2015
4) I will stay in New Zealand for 6 months
.
.
.

** OUT OF TRACK 思 想 出 軌 ** said...

as such u might want to amend ur post with this or keep a bigger 3rd picture cos stupid and lazy student like me need others to kick or food to mouth one.. else we simply deserve to die :)

Michael Tsen said...

good suggestion but sorry, my style is to teach ppl to fish for themselves ... so my style stays for the time being. :p

Anonymous said...

Great post. I suppose we ladies dont have to answer this Q bcos all we need is a man to pay everything. So this blog is useless for pretty women...lalalalalala......

Michael Tsen said...

o ... in that case you need this more, you need to draw the circle and then make the first mark, "get pretty", follow by "find THE man" .... then "stay pretty" .... everyone has a lifeline ... :)

Anonymous said...

OK. Rephrase: We mature(old) women dont need this blog anymore as if we have already reached to the end of the line :))

I thought some sparkles of comments could ease out writers & readers here who comes with heavy minds and thoughts about $, $ & $.... :))

Michael Tsen said...

if drawn the circle way, when reaching the "end" of li(n/f)e, then its the start of another cycle.

thkx for sparkle ...

Anonymous said...

Good reply. ain't this the situation right now? ya it is. Since it is a finance blog with the aim of $ before died, I guess i shouldn't comment much unless you'd have a philosophy blog :)

Michael Tsen said...

actually true finance planning is not about money at all :)

Anonymous said...

If 'planning' is not about money, I'd agree. But if the 'aim' is not, then I'm all ears. Please share your secret, or it should reveal the final episode of your story book/this blog.

Michael Tsen said...

its ok to aim at money, but whats the aim of getting money ? my secret is already reveal in real financial freedom. Just that its written in a way that reader can still interpret it in their own ways.

Anonymous said...

Excellent. Thanks!

KA said...

hmm... accidentally found your blog by googling "how economy works?"

I pretty don't get you for this post.
why should we GET OUT OF our planed life line?

Michael Tsen said...

sorry KA, poor ambigous statement there ... it was meant to say

"what do you yourself want for your own life".