Welcome

I hope every one enjoys my new blog. This blog covers everything in personal finance for the average American. For those that are thinking about retirement or have already started.

Tuesday, January 2, 2007

This is the first article in a series named “Roadblocks to success.” It is important to understand what stops our success and how to overcome those roadblocks. While every individual has different obstacles to overcome in his life understanding these 7 basic roadblocks are essential in order to initiate a change.

Lets look at these 7 obstacles:

1. No goals

2. Ignorance

3. Debt

4. Poor Investments

5. Inflation

6. Taxes

7. Procrastination

We’ve all hear that we need to set goals, most have heard the saying if you fail to plan you plan to fail. So lets start planning and setting goals. There are a couple a relatively easy steps to goal setting so lets just go over those.

Write it down, write it down, write it down. Simple, so do it.

There are 3 time frames for goals, short, mid, and long term.

Set goals short and midterm goals that will help you to meet your long term goals.

If you want to put a down payment on a house in 5 years set a short term goal of saving 200 dollars a month.

Last don’t get discouraged. Set goals that are easy to measure and specific. That way you’ll be able to see your progress. Also set goal that you can reach and track your progress.

As a side note make sure your goals will help you. Don’t set a goal of saving 200 dollars a month if you are already doing it. Set a goal of 250 a month. Goals are designed to make you feel better about yourself and to improve yourself for the better.

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