thereWhile being clear on your Here is important, it is equally important to know where your There is. Without a clear destination in mind, your life’s journey will lack purpose and focus. To figure out where your There is, you must do some soul searching. Take a moment to consider these next questions very carefully, as the answers will be critical to your financial plan. You can just ponder these questions or commit your answers to writing:

  • What are the true goals of my heart?
  • What is absolutely vital for me to achieve in this lifetime?
  • How do I want to be remembered? That is, what do I want my legacy be?
  • What are my bottom-line requirements from life?
  • What do I want my retirement to look and feel like?

You will only be invested enough to make a plan and stick to it every day, week, and month if you know where you want to be in life with absolute emotional certainty. Having a well-defined There gives us a sense of direction that will pull us through the dark times. It will spur us to make tough trade-offs and push us over difficult humps. Your There cannot be generic or borrowed from the pages of a magazine. It must be based on who you really are, what you really care about, and what truly makes you happy. In other words, your There must be firmly rooted in your Here and reflect your version of happiness.

Finally, in my somewhat-biased point of view — I am a financial advisor, after all — your There should include an income stream you can’t outlive in retirement.