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The Power of Habits

| May 13, 2021
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Have you heard of the 21/90 rule?  Commit to a personal or professional goal for 21 straight days. After three weeks, the pursuit of that goal should have become a habit. Once you’ve established that habit, you continue to do it for another ninety days. If you can keep up something for three weeks and then ninety days, then it should become a permanent lifestyle change. Good or bad, habits are formed by all of us, sometimes subconsciously.  For example, in what order do you put on your clothes in the morning while dressing for the day?  Do you even think about the process of dressing or is it simply a routine that you follow because you have performed the same process for many years?

What do habits have to do with your finances?  Everything!  Many of the habits involving finances are passed down from generation to generation.  Did you know that by saving $200 per month and investing it prudently for a period of 25 years, one could amass one million dollars? 

People’s personal habits of saving can develop even as a young child- but it is never too late to start. For example, let’s assume you have discretionary cash flow each month.  Why not assign that excess to a savings plan for future needs?  We anticipate that income needs in retirement will be approximately the same as your pre-retirement income. In retirement you will still be driving your car, eating regularly, utilizing electricity and other utilities in your home – and enjoying life and having fun.

Another habit we hope you will consider is the habit of healthy living.  By “investing” in your physical fitness, you will reap generous benefits later in life.  Mobility and wellness are more easily maintained in your twilight years if developed early on.  Start now to develop the habits of a healthy lifestyle, staying active, consuming enough water and focusing on fresh and less processed foods.  These simple steps will help you on a path of wellness that will create adventures unsurpassed in your retirement years. 

Habits determine your future, and by combining the habits of saving for the future and focusing on your health and wellbeing, you have conquered a tremendous number of hardships and started the path to True Wealth. At HPW we believe retirement encompasses more than your financial position.  Actually, to us, True Wealth is all those things that money can’t buy and death can’t take away, whatever that means for you. Traveling? Family visits? The lake house of your dreams?

If you seek to worry less and enjoy life more, talk to us about how we can provide guidance and a plan for your path forward.

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