Having a good financial strategy is essential to achieving your goals. They are not achieved only with desire, but we must draw a strategy to increase the chances of achieving them.
It is very important to advise us when drawing up a financial plan to ensure its feasibility. To have a good financial strategy, we must put it together correctly. We can open the strategy in three basic components, VISION, PLAN, AND EXECUTION.
Long term: Vision
First and foremost, and as a fundamental piece, it is to have a clear vision of the status that we want to achieve financially. This vision is more related to the quality of life that we want to lead than economic or material quantities and magnitudes. Once we know the life we want in the long term, we can draw a medium-term strategy. Just having a long-term vision is already a big step forward. Incredibly, most people live their lives without one, and the consequences of not having one are total unpredictability and economic uncertainty. Not having a long-term vision is the biggest risk we can take.
Medium-term: Plan
The plan is the path we must travel to achieve our goals. It is the roadmap, the investments of our time and our money. This is a very critical stage since it is essential to trace a path with several stages that will take us to our destination when we want. We determine where we put our capital, be it money or professional time. The plan is subject to constant changes. We must invest our attention the most and where we must most seek advice. We should never adjust the medium-term plan without analyzing the long-term compatibility with our vision.
When you are done reading this book, you will have gained a lifetime of experience in just a few short hours. The stories are interesting to follow, and the challenging concepts have been made easy to understand. So get ready to broaden your horizons and adjust your expectations because you are in for one hell of a ride!
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