• Overnight Success

    Happy Phriday!!!

    The idea of an overnight success is very sexy but is it a common reality? If your personal financial plan is awaiting a windfall, I must be honest with you, that's a terrible plan! Achieving overnight success is not a plan, it's a wish and your effort is best served executing rather than wishing!

    Instead, take the advice of Stephen Covey and start with the end in mind. In short, ask yourself, where do I want to be with my finances? An example could be, I want to make $5,000 a month within the next 2 years. Although this may seem strange to some, there are multiple ways to achieve this goal beside a 9-5 (which is perfectly acceptable).

    The issue that happens with many people is after they have the goal, instead of taking action they just start wishing and wishing is a gateway to the Overnight Success mentality. People who win the lottery, a huge inheritance, or obtain huge windfalls are outliers. Most wealthy people are 1st generation and worked to reach their financial goals (check out the books, the Millionaire Next Door or Everyday Millionaires).

    To be successful with your finances it depends more on your daily decisions compounded over time. For example, saving 10%, 15%, or maxing your Roth or traditional 401K at work for 20 to 30 years can yield most people 1 million dollars depending on the interest rate.

    If you did not obtain anything from this post please take this: stop chasing overnight success and start planning and executing. Please choice Faith over Fear for your Finances.

    Picture credit: here

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