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Financial New Years
Resolutions? Create the Staying Power You Need to Realize Your
Most Important Goals
Certified Financial Planner offers tips to
help you reach key milestones and enjoy your best year yet.
Bend, OR December 30, 2004 -- Think about the
New Year's resolutions that you made a year ago. Maybe you set
goals to get in shape, or to make more money. Did you stick to
your plan? If not, can you say why? Chances are that, like most
people, you hung your hopes on the promise of an easy fix a
trendy fitness toy like the ab buster or the latest
get-rich-quick scheme. It's only human nature to hope for a
simple solution to life's challenges; unfortunately, these
methods rarely pay off.
This year, make your resolutions stick by investing a little
extra time to create a personalized and well-planned strategy.
Here is a step-by-step plan to help you effectively make and
meet your financial New Year's resolutions.
Know what you want: Take a moment to clearly define your goals.
Do you hope to retire at age 55? Fund a college education? Take
amazing vacations without accumulating a backlash of debt? Or
simply be able to enjoy more time with your family and
participating in volunteer and/or leisure activities?
Write it down: It's likely that every week you make some kind of
list a reminder of tasks to accomplish at work, perhaps, or
errands necessary to run your household. But how often do you
write down exactly what you want out of life? Think about this
motivational quote: "If you can't write it down, you can't do
it." Make lists of your short term and long term goals. Post
them somewhere you will see them regularly. You might even
consider adding pictures that help you visualize the achievement
of particular goals a teenager holding a diploma, a happy couple
relaxing on a cruise ship, an individual gardening or spending
time with loved ones.
Gather Resources: You're probably not the first person to target
and set a particular financial goal. Don't be afraid to take the
advice of those who have already succeeded. The Automatic
Millionaire by David Bach and Just Give Me the Answer$ by Sheryl
Garrett with Marie Swift and The Garrett Planning Network are
both excellent books about planning for financial success. Great
online resources include the Certified Financial Planning Board
of Standards,
www.cfp.net, The Garrett Planning Networks
www.garrettplanningnetwork.com, and Griffon Financial
Planning's site,
www.griffonfinancial.com. Hiring a fee-only CERTIFIED
FINANCIAL PLANNER professional (a credentialed advisor who does
not sell products or investments on commission) to evaluate your
situation and make recommendations can significantly increase
your chance of success, as well.
Consider Your Current Reality: Tally your resources. Are they
enough to fund your goal right now? Chances are, theyre not.
What projections can you make? And what are the shortfalls? What
adjustments can you make now to close the gap?
Examine Patterns: If your in-hand resources and projections fall
short, examine your habits. Are you saving and investing a
sufficient amount to meet your goals in the future? Are your
investments aimed at achieving needed growth while minimizing
losses? Are fees and expenses eating up your profits?
Take Action: If you are not doing all you can to optimize your
situation, make changes now. Don't wait! Talk with your tax
professional to make sure you are leveraging all of the tax
advantages available to you. Create that long-term investment
plan with your financial advisor. Open that 529 plan for your
children. Start investing for your future today.
Celebrate Success: Very often we forget to acknowledge our
achievements. Be sure that your plan includes a check-in system.
A scheduled appointment with your CERTIFIED FINANCIAL PLANNER
practitioner will not only encourage you to follow through with
the initial steps of your strategy, it will allow you to
evaluate progress (and make adjustments if needed to stay of
track) and celebrate success (when key milestones are met).
Imagine how good it will feel when you meet that key savings
goal, when you get that debt paid off, and/or when you see your
child graduate from college. Recognizing your accomplishments
will give you additional energy and keep you going as you work
toward achieving your long-term goals.
Tackle this year's financial New Year's resolutions using these
proven strategies and you're sure to succeed. Heres wishing you
a happy and prosperous New Year!
About Griffon Financial Planning, LLC
Ann Laferriere, CFP, is Principal of Griffon Financial Planning,
LLC, an independent financial planning firm located in Bend,
Oregon. Prior to establishing her independent, fee-only firm,
Ann built a successful investment management practice in
Portland, Oregon, through Raymond James Financial Services, Inc.
member NASD/SIPC, an independent Broker/Dealer. She expanded her
business by opening an hourly, fee-only financial planning
office upon moving to Bend. She is a member of The Garrett
Planning Network, Inc., the nations leading organization of
professional planners dedicated to working with people from all
walks of life on an hourly, as-needed basis. She is also a
member of the Financial Planning Association, the largest
organization of professionals dedicated to championing the
financial planning process. She can be reached at (541) 317-1617
or at
e-mail protected from spam bots. For more information, visit
www.griffonfinancial.com.
About The Garrett Planning Network, Inc.
The Garrett Planning Network, Inc. (GPN) is a nationwide network
of professional, fee-only financial advisors. GPN members are
dedicated to providing competent, objective financial advice to
people from all walks of life, on an hourly as-needed basis.
There are no account minimums or long-term contracts required.
GPN members focus on working with two often overlooked and
underserved markets: (1) middle-income individuals and families,
and (2) do-it-yourselfers who need or want occasional
professional advice or a second opinion. Many people who have
previously been turned away by traditional asset management or
financial planning firms with high minimums will be pleased to
know that, through The Garrett Planning Network, they now have
access to the same quality financial planning and advice once
available only to the wealthy. The network has been profiled
hundreds of times in major publications, on the Web, radio and
television. For two consecutive years, Investment Advisor
magazine has named GPN founder, Sheryl Garrett, one of the top
25 most influential people in the financial planning industry.
For more information, visit
www.GarrettPlanningNetwork.com.
Contact:
Ann Laferriere, CFP
Principal, Griffon Financial Planning, LLC
Phone: (541) 317-1617
Web:
www.griffonfinancial.com
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