As the year comes to a close, I often think about how far we have come. The collective we: myself and those in my care. And what exactly does that mean to me...and to them.
Does it mean that the portfolio made money...or lost money?
Does it mean that financial milestones have been achieved...or pushed back?
Does it mean that we are one year closer to "the goal" that we are working towards...or did the goal change mid-year?
Does it mean we have more? A more valuable business? A higher savings account balance? A larger nest egg to provide financial freedom?
But what about if you want to measure success in the year by having less? Does that make it a bad year?
Less volatility. Less stress. Less excuses. Less time wasted.
Now, let's marry those two thoughts:
Can we grow a portfolio with less volatility? Can we pivot mid-year without excuses? Can we work closer to our financial goals with less stress? Can we grow our business with less wasted time?
I know I can. I know you can. The big question is if you think you can. And to me, that marks a successful year. It's measuring how far we have come, not how "much" or how "big" your portfolio has become. If you only measure success by your account balance, you will be gravely disappointed when the next downturn comes a calling.
To me, a good year is moving in the direction of progress. Looking in the rear view mirrors every December and seeing how far you've come. And being solid in the knowledge that how you want to measure success can truly be up to you.
And it doesn't have to include the word "more".
Kimberly Enders CFP® CWS® CERTIFIED FINANCIAL PLANNER®
Enders Wealth Management
37800 Van Dyke Ave, Suite 125
Sterling Heights MI 48312
www.enderswm.com
#kimenderscfp
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.
The views stated are not necessarily the opinion of Cetera Wealth Services, LLC and should not be constructed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results.