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You Can’t Fix It All Today

Admit it, you can’t run through your entire list of mentally captured financial to-do’s and fix everything at one time, but you can do the Next Best Thing! Here's what I mean...


Admit it, you can’t run through your entire list of mentally captured financial to-do’s and fix everything at one time, but you can do the Next Best Thing!

This week I want to address a “hurdle” that we as advisors see people stumble over time and time again. A “hurdle” in this context refers to something that prevents people from taking action when it comes to their finances.

For some, the thought of dealing with what at times seems like a financial to-do list a mile long can be overwhelming. This overwhelming feeling can be followed by paralysis and as a result, nothing is addressed. Here’s a thought: though you may not be able to tackle the entire list of all the financial changes you can make, you can do the Next Best Thing.

Everyone has heard the old line, “Rome wasn’t built in a day.” The same can be said about our finances. It is a PROCESS to achieve financial success, and a process can take time. A process is followed step by step, diligently, until a goal is achieved. The first step is just that, the first step. The fifth step can’t come before the first, so take the first step!!!

The confusing part comes next…what is the next best thing? Unfortunately, there is no one right answer. For some, it may be paying down a debt. For others, building their emergency/opportunity fund is the next move to make. Maybe for you it is finally rolling that old 401k into an IRA where you have full control of your money. The point is that for everyone the next move is different, but the process stays the same.

We get asked all of the time, “Brian and Caleb, who are your biggest competitors?” The answer draws a smile when we hear it because the reality is that our biggest competitor is not a who, but rather, a what. Our biggest competitor without a doubt is “Do Nothing” and if we can get people viewing their finances in the right light, perhaps our competition will vanish and our clients will be more financially successful. The moral of the story is this, do something. Do the Next Best Thing! If you don’t know what that is, just ask!

How has paralysis by analysis prevented you from digging into the Next Best Thing? 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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