Planning for Success

Key Takeaways

  • There are six key steps to building lifelong wealth.
  • Establish short-, medium- and long-term goals, and never stop making adjustments to them.
  • Take care of urgent matters first, important matters second and nice-to-have issues last.

5 Key Money Issues

Key Takeaways

  • There are five issues that successful investors have when it comes to their wealth.
  • The five issues are wealth preservation, tax mitigation, wealth transfer, wealth protection, and charitable giving.
  • Once you’re in the stay-rich game, you don’t want to go back to the get-rich game.

Vision-Based Goals

Key Takeaways

  • SMART goals are Specific, Measurable, Achievable, Realistic and Timely.
  • Both push goals and pull goals are SMART, but pull goals are more likely to be achieved since they tap into your emotions and motivations.
  • Pull goals literally pull you into the future.

Reinvent, Re-inspire, Don’t Retire

Key Takeaways

  • The word retirement came about as a political move in 1889 by then German Chancellor, Otto von Bismarck.
  • The definition of retirement is the opposite of what retirement is actually all about, which is reinvention or re-inspiration, and it’s a transition in to a new phase of life, not the end of life.
  • Writing down a vision for your future and what motivates you can help you prepare to be that 90-year-old that lives life to the fullest.