Archive for the ‘jonny goldstein’ Category

$1million by 2012: dream it, plan it, live it
October 13, 2007

So it’s time to take ownership & aim big.

I remember once being fearless in the face of challenges and dreams — going after them was the fun rush of life. Then on the financial front – I learned how much it costs to retire, to retire with decent health care protection, to raise children and their education, to run one’s own business, and more …. my momentum to achieve sobered-up.

Why is that? Maybe it’s just looking at too much at once -vs- one step at a time. Maybe it’s taking one’s self too seriously. Maybe dreams were too high with resources & energy too low. Is it even possible to have dreams too high?

…a mix of all likely but here’s the sitch: family members need our help. They’d never, ever ask for financial support. But bottom line, their situations are precarious & their means too small to evoke stability on their own. My judgment could be off but after reviewing all up, down, and sideways my husband and I agree taking action helps more than fretting.

And results just don’t fall from the sky. So can we realistically help? yes. Can we preserve our basic needs & personal savings plan too? yes. So is it time for a plan?

Yes and here it is:

$1million by 2012 (that’s $1million in overall paper value vs net).

It makes my stomach tight writing this out, tight as in nervous. But Jonny Goldstein just published his big dream. And his resolve and zeal are contagious.

So here it is:

Summary of Intent:

We are millionaires by 2012. By that year, we will have built our financial wealth to at least $1million through dedicated & united partnership to include: multiple income streams, property ownership in secondary cities, tax control, & wealth protection. Our love of life motivates this intent – and our family, whom we most dearly want to help.

It’s posted at our desks.

…along with the plan, the numbers, the benchmarks, a list of mentors (…need to contact them), & somewhere deep down is something that feels like resolve.

More from:

financial roots: your fiscal beliefs, fears, confidence must come from … where?
September 5, 2007

In preparing for another financial planner interview this week, I imagined how a certain discussion could play-out regarding our debt:

Planner to me: So do you have credit card debt?

Me: Sure do.

Planner: So why don’t you pay it off right now or at least increase your payments?

Me: Because the thought of having zero dinero in our emergency reserves makes me vomit.

For my family right now, it comes down to rebuilding habit.

For a while, it’s been ‘pay off the card’. Then a perceived emergency that warrants use of it occurs again (we wouldn’t have much in emergency reserves since we focused on debt pay-off).

And the cycle played out many times in our lives.

So I shared this tact with husband Sean – to which he concurred on changing focus. He was creeped-out by the card balance (predominantly tax payments) but appreciated the underlying philosophy: build up cash reserves to prevent credit card usage in emergencies.

Then comes the self-reflection:
What has the most impact on one’s financial beliefs? Is it more than just live-and-learn as an adult?

That must be a complex answer for everyone.

Yet these two childhood memories stand out as canyon-wide influences on my financial beliefs:

  • family thrived with their business during the Oklahoma oil boom;
  • family sank deep into fiscal ick-ville when that boom went bust

Don’t wanna go back there … ever.

So what’s the first step – forming a positive vision to strive toward (vs always looking back at that which we want to avoid)?

More from:

  • WiseBread’s Sarah Winfrey outlines those wise, internal questions that can frame what we really want. …joy? chocolate? companionship? love? a Twinkie bath? Winfrey’s reflective approach proved a useful tool to carve out purpose — financial or otherwise.
  • Request:
    Please treat yourself to Jonny Goldstein‘s above Twinkie bath clip, 3 minutes. The ribs crack from cackling every time.