What holds people back from setting financial goals?
I think the biggest fear for why people don't set financial goals or any goals for that matter is the fear of failure. I mean no one wants to think that they've lost or that they've failed. And if you think about it, if you set a goal or financial goal you're almost setting yourself up for failure. You're verbalizing, you're writing down, this is what means most to me and this is what I want and this is when I want it and this is how much I want. Well now all of a sudden it becomes really clear whether you've achieved it or not. So success and failure become very very clear. And I think it's easy for people to just have some random thoughts about what it is they want because then if they don't get it, well you know what, it's not so obvious. So if that's kind of the fear that, you know, if I write it down I might not achieve it and if I don't achieve it I'm going to feel like a loser. But you know what, the difference between winners and losers is that winners actually fail. Not that losers fail, but that winners fail. And they fail because they set the bar just a little bit higher than the losers. So by setting the bar just a little bit higher eventually you will fail but that's ok. Because it's all about moving on to the next one. About pushing yourself a little bit more and a little bit more and a little bit more.
