“If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.” - Jim Rohn
What the heck is a life plan? In short, it is a written approach to the various areas of your life such as career, housing, social interests, health, financial goals, etc. When you write one out, you will observe what really drives you. Different from a vision board, which is merely a wish list, a life plan delivers the strategy needed to achieve those wishes while answering the question “why is this important to me.” Best of all, you are never too old or too young to write a life plan and you can make it as high level or detailed as you are inclined to go on any area of your life.
Start by interviewing yourself with questions and ask follow-up questions. In short, spend some time with your spirit and get to know You!
1. What goals do you want to accomplish in your lifetime? Why those goals? What does it mean to have accomplished them? Are you trying to impress anyone and if so, why?
2. Determine the essentials needed to get your Life Plan underway. Pay off debt? More education? Move to another city? Get healthier?
3. When would you like to see the goals attained? What would it look like if they happened sooner? Later?
4. Assign specific target dates. Is the timing you are proposing too aggressive or too relaxed?
5. What are the steps necessary to achieve the target dates? Sell items? Second job? Re-write your budget? Visit a health specialist? Physical training?
6. Write your Life Plan, review it periodically, and be ready to adjust, as necessary.
Real-life story:
At age 32, Marie wanted to own her own business. Why? Because she liked the idea of answering to herself and being the decision-maker. She no longer wanted to be at the mercy of others’ whims, thereby suppressing her own creativity, and importantly, she was not as much a fan of investment banking as she had thought she would be.
Her real love is fashion. She wants to manage her own brand, do some travel around the world for inspiration, and be the CEO of her own company. She desires to live in a more temperate climate than her Chicago home, adopt a healthier lifestyle, and learn how to manage stress so it will not affect her well-being.
Her initial life plan questions and answers looked like this:
1) What are my goals and the approximate timeline?
Own my fashion-related business by age 42, travel, be married and start having children in my 30s, live in the southeastern quadrant of the United States, own a second home in Chicago for summer visits, spend more time with my parents, my brother and my friends (new and old), be healthier, and live debt-free. Her own follow-up questions determined why those goals were important to her and helped in formulating concise action steps.
2) What are my specifics?
I want to secure an MBA as a reinforcement to my undergrad Finance degree. Upon graduation, to hone my brand management skills, I intend to work at a Fortune 500 for five+ years and start building a network for my own company. By 2025, I want to form my own company, determine my home base, and have a minimum of two kids. I intend on being financially independent by 2030. Immediately, I will adopt a healthier lifestyle in exercise, eating, and meditative/spiritual practices.
3) What are my actions steps?
Firstly, focus on securing my MBA, including GMAT preparation, university applications, selling household items/clothing to raise money, pay off credit card debt as much as possible before school starts, arrange for housing, and moving (all with date/dollar targets). For my health, I want to design regular workouts, menu plans, and engage in journaling.
Marie then put together her plan and included the use of micro objectives to monitor her activities in relation to the bigger goals.
Fast forward, Marie successfully completed her educational endeavors and secured her MBA on schedule. Her immediate post-graduation career plan was a bit different than she had intended. Although not a Fortune 500 company as-of-yet, Marie found a spectacular opportunity in South Florida with a capital investment firm. While she was initially hired to work on its sales team, after two years, Marie pursued and was awarded the role of Marketing Specialist, which focuses on external/internal brand management and the promotion of company culture. This means a redesign of the company store by working with high-end fashion brands, employee gifts, elevating the brand, and increasing brand awareness throughout the industry and with clients/prospects. She also writes inspirational messaging on behalf of the CEO.
As it often happens, the Universe (God) had better immediate plans for Marie than she could ever have designed for herself. She is gaining superb on-the-job training in the Southeastern U.S., has paid off consumer debt way ahead of schedule, substantially increased her savings and investing, and adopted a healthier lifestyle yielding more muscle definition and less stress. Not surprisingly, she is in a serious romantic relationship.
Marie is also learning how to go with the flow and adjust action steps when necessary while staying on course with her vision. Fully aware that her life plan is still in the making, Marie remains confident that the best is yet to come!
Feel free to contact me for a free 15-minute consultation to review your financial goals in association with your Life Plan: marylu@maryluworkman.com or (561) 888-4963.
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