1. Goals: have them.
2. Try NOT to have a dollar-value goal (I can’t stand the “my retirement number” commercials). Can’t we be honest about that and admit that no one’s crystal ball is that clear? Why limit yourself?
3. Define your financial goals by what you want them to do for you. Instead of “save $50,000”, try “be free of credit card debt and have 9 months of income saved in a savings account”.
4. Make a bucket list. Seriously, it’s the #1 way to sustain financial motivation.
5. Success doesn’t stem from the big gestures as much as the small and incremental financial habits that accumulate into significance.
6. Be optimistic, grateful, and giving.
7. Read financial stuff, but preferably not blogs or magazines that try and sell you which specific mutual funds or stocks are best. Try The Economist, or books by Jean Chatzky, or Seth Godin’s blog, or books by Ric Edelman as starters.
8. Be mindful of the impact that downside risk has on your long-term financial success. Having proper insurance, defenses against investment volatility, and proper tax management strategies are no less important than annual investment return performances in preparing for better long-term success.