3 Things To Do For The New Year Besides Setting Goals
David McLaughlin
Creating modern leaders. Speaker I Coach I Author I Consultant I Facilitator - Leadership, Organizational Development, Management, Human Resources, Soft Skills, Emotional Intelligence, Mindfulness
The beginning of the year is a great time to assess your life. Many articles are written on goal-setting to help you achieve your best accomplishments. There are other important things to consider annually and the beginning of the year is a great time to think about them.
- Net worth
What are you worth? By calculating this annually you know if you are increasing or decreasing this metric each year. To calculate, add up the current value (not what you paid for it) of your assets (house, cars, furniture, jewelry, etc.). Be sure to value realistically at what you could really sell for today, not what you hope they would sell for. Then list all of your liabilities (balance on your mortgage, loan balances, credit cards, and other debts). Subtract the liabilities from your Assets and that is your Net Worth. Track annually.
- Retirement Plan
Okay. Maybe this counts as a goal. But technically you can evaluate what you need in your retirement account and how much you have without setting any goals around it. (You would just be crazy not too.) The answer to when you can retire is when you have enough money. The question is, “How much is enough money?” Have you ever calculated how much you need? You should know about replacement income, your plans during retirement, health care planning, and develop a savings and investment plan to reach your goal. Evaluate your progress to see if you are on track.
- Important Information and Papers
I have a notebook (morbidly and humorously titled my Death Notebook) in which I keep a copy of our will, living will, insurance documents, bank accounts, funeral service ideas, and other important papers. In the horrible event something happens to me, or worse, both my wife and I, people know where it is and have copies and will know what to do.
Taking a few hours at the beginning of each year to get your information together you will know more about yourself and have a better idea of how to spend the rest of your year. I hope you have the best year ever!
Keynote Speaker + Culture Specialist + Mindshift Expert | Unlocking Everyday Greatness | 160+ Recommendations | Shifting Mindsets that Fuel Engagement, Reshape Culture & Drive Growth | #OwnershipCulture | #ThickTrust
9ySo practically wise! I use Mint.com for an ongoing tallying of Net Value. Have all accounts and property connected. I randomly show my wife... and it comforts her. :) The other two, I am not good at. I know this isn't about goals, but I will make "Creating My Death Notebook" an objective this year. And then I'll tell you where I bury it. Happy Happy New Year!!