Darren Hardy, in his book The Compound Effect, discusses the power of your “why.” If you were offered twenty dollars, he asks, to walk a thirty-foot plank that was lying on the ground, you would certainly accept such an easy challenge. But what if the plank were between the tops of two tall buildings? Would twenty dollars be enough to take such a risk? Then imagine that you needed to cross that plank because the other building was burning and your children were in peril. Under such circumstances, all of us would scramble across, without even a thought about money. This illustrates the power of determining your “why” – understanding what motivates you to action.
Unless we find a source of motivation, energy, and inspiration – something truly important or even urgent – we won’t take the action we ought to take. As humans, we are incredibly prone to procrastination or taking the path of least resistance. By and large, we avoid change and are slow to move toward new ideas and innovations. What we need is to see and understand our “why,” opening ourselves up to different perspectives as well as new resources, searching and then focusing on how to move in the right direction.
Based on our combined 40 years of professional experience, we want to tell you, loud and clear: Yes, you can do this.
When we reflect back on the hundreds of individuals and families we have been fortunate to serve and advise, we can tell you with confidence that we’re talking about saving and changing lives in ways that make your family, your community, and even the world a better place. And that’s not hyperbole! Once you make up your mind that there is a compelling enough reason, you can rise to the challenge. So what is that reason for you?
If there’s no good reason to cross that plank, you are unlikely to bother. If you (like so many others) don’t see financial and estate planning as something more than a series of administrative or business decisions with lots of details needing to be managed, then you won’t get to the place where Nobel was able to make his transformative decision. Your life will not become a living legacy. If you only look at the risk of falling into the abyss, you will feel paralyzed and do nothing. But if you have a good reason, a really good reason, you will make it happen – and God knows there certainly is an abundance of really good reasons in this world. The personal way that you choose to respond to them is how you will write your epitaph and create your life and legacy.
Vision first, then goals
Vision must come first before specific goals can take shape. Admittedly, vision is a big, vague, and sometimes intimidating word. But it is also a very important amalgamation of our values, principles, ethics, and beliefs, as well as the outcomes we hope to make a reality. Preferably we can make this happen during life, but if not, then through our planning and our legacy. –Excerpt from chapter 2
Download a chapter of the book at www.domorethatmatters.com
Greg Hammond, CFP®, CPA is a wealth impact strategist who works with individuals, families, closely‐held and family‐owned businesses, helping them grow and preserve wealth, plan for retirement and manage their charitable giving. You can reach Greg at 1-800-416-1655 or firstname.lastname@example.org for financially intelligent guidance or a Wealth Impact Assessment to show how you can build a legacy of your values, influence, and money without sacrificing your own lifetime goals and objectives.