Over the past few months, I have been training to run across the Grand Canyon and back. Many know this trail run as Rim to Rim to Rim. Over the summer, I mapped out a training plan consisting of maintenance runs, long runs, hill repeats, and everything in between. As some of you may know, things don’t always go according to plan. As much as I would like to complete every scheduled training run, it isn’t realistic because life gets in the way. From injuries, ailments, family responsibilities, and your job, there is always something that throws you a curve ball.
Much like my training, this can be true for your long term financial plan too. I am sure many of you have mapped out a plan to get from point A to point B. Similarly, life’s unpredictable nature can throw a wrench in things. When this happens, here are a few thoughts:
- Don’t get discouraged; stay positive and remember that life can be unpredictable at times.
- As with any long term goal, the boat rarely goes in a straight line from Point A to B. When you get off course, try to minimize it and get back on course as quickly as possible.
- Break your financial plan down into smaller goals. That way, you are feeling the sense of achievement along the way.
- Identify the non negotiables in your plan, such as “saving X for retirement” or “spending X on travel”. Make sure those get done. As for the other smaller, ancillary goals, try to achieve them too but don’t beat yourself up about missing one of them.
- What else?