I was asked this question today:
Q: What is the secret to achieving financial goals?
No one competent in my industry really believes in any secret, but I do believe that the folks who are most likely to achieve their goals have these traits in common:
1. They have a very describable and specific vision of what their goal is.
2. They buy-in to the reality that every decision has a consequence. In order to get X, it will cost them Y.
3. They have a strong sense and understanding of their own tolerance for risk.
4. They don't spend money accidentally and without knowing where every dollar goes and why.
5. During times of trouble they have an indomitable spirit.
Every one of those traits belong to someone prepared to keep a long-term focus and prepared to be intentional about what they want no matter all of the other details involved. There are a huge number of details and plans that go into achieving a financial goal, of course, but none of those details matter without the traits that lend themselves to making good decisions.
And these traits have proven themselves in people from all backgrounds, income levels, ages, and occupations. Financial success starts with the brain, not the paycheck.
