Personal Vision

by Greg Robb
July 15, 2005

Your personal vision - it sounds so simple, so logical... so obvious. Yet, when the majority of concerned investors enter my office, a clear vision of their personal future and that of their family has never been conceived. They have been told by their parents, their stockbroker, their children, and most importantly their favorite financial rag that they need to save more, invest more, and spend less if they want to have a chance at that ever elusive utopia titled "Retirement." Unfortunately Utopia is a place which cannot be created by amassing net worth alone, we must also achieve a sense of fullness throughout our life.

Now, in previous writings I promised to keep untrained opinions to good bourbon and good food, so when you create your personal mission to attain your personal vision you may want to consult others. Your vision; however, should come from the heart. Where do you want to live - in your current home or somewhere completely different? Once you've got the location in mind, really start to think of HOW it will be... will it be bright or dark? Will you be close to family and friends or will it take a bit of a journey to get to your Utopia? Will it be lavish or do you have more of a minimalist picture of what you want. Now, what of the time you will spend? Do you want to travel or have you had enough time away from the home. Do you envision grandkids about or is your personal place one of quiet reflection and solace from where you go visit your family and friends. Once you have pieced together a vague picture of your future write it down, this way you can follow your changes over the years - this halfsquare time our lives will prove to be one of the greatest periods of change we encounter.

As you build the Vision of your future you will find the help of many advisors and friends to be essential in your journey. Counselors, Clergy, Accountants, Doctors, Attorneys, Family, Friends and in my case, Financial Advisors will all be used at one point or another along the way. That being said I will now help you answer your question of how much money to save, invest, and spend. If you think you will have a formula for calculating and exact amount when you have finished this article, I will ask you to refer to your current financial rag or one of the many calculators you can access via the web. Instead I will take a different route and ask you to answer a very simple question:

"What is important about money to you?"

Don't over think the answer, just write down the first three or four words that come to mind. Once you have written them down ask yourself the same question again only replace the word "money" with the words you have just put to paper. Repeat this process six or seven times using the most recent response as your next replacement for the word "money." All the while it is important to not think about specific goals during this process for you will have a list of words from which you can create your goals once you have finished.

These are the very things you must know of yourself before any calculator can be effective, before any mission can be constructed, and before any goals can be put into place. Once you have begun this process you will find Utopia to be not only an actual place for you to work towards but a journey you and your family can enjoy traveling together.