I’ve gotten a lot of feedback and responses from people over the years about why they haven’t yet taken action on their financial plans. Here are the top three reasons:
#3 I Don’t Have Enough To Do Any Planning: I’m never sure where folks get a particular number in their heads about what constitutes “enough” in income, assets, or other measurement to justify planning. And I’m pretty sure they don’t have a clue either…it just becomes a quick, convenient answer to give. The catch is that all of our current assets are important to ourselves and those depending on us, and doing the best with what we have at the moment is the key to not just ‘getting by’ but to gaining the self-defined success that would really be meaningful.
#2 Everything Changes So Much It Doesn’t Matter What I Do: It can certainly be disconcerting to see all the changes going on around us, particularly when there doesn’t seem to be a rhyme or reason apparent, or when we don’t feel that there’s a fair balance to what’s going on. On the other side, if we regularly give up our voice and our outcomes to external sources (the economy, politicians, others’ special interests, Wall Street, etc) then we’ve lost our precious free will and decision-making gifts that could otherwise help us create at the very least our own personal worlds of enjoyment, and at the most offer some assistance and legacy effect to others.
#1 Fear: Yes, plain and simple ‘fear’. It can come out in a number of phrases such as, “I know I’ll make the wrong decision”, or “I’m overwhelmed by all this stuff”, or “I’ll deal with it sometime soon but not today,” and so many other ways. It’s not easy facing up to any of our fears, but with the right guidance and support you can get the knowledge and comfort you really want – not to mention some really positive benefits.
I learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear.”
– Nelson Mandela