Live Life to the Fullest – Create a Dream and Life Values Based Approach to Personal Finance – Part 3 – Discover Your Dreams and Take Action on Them

In Parts 1 and 2 of this series, I have introduced everyone to the first 4 steps towards creating a Purpose Focused Financial Plan, as described in David Bach’s book titled, Smart Couples Finish Rich. Click on the link to pick up a cheap used copy of the book from Amazon.com. 

• Step 1 involved discovering the importance of money in your life.
• Step 2 involved discovering the purpose of money in your life.
• Step 3 was to list out your top 5 values you want to focus on over the next 12 months.
• Step 4 covered how to create an actionable plan for executing on these life values. 

• List our your top 5 dreams on a piece of paper.
• Remember – with this exercise, you want to dream big! Don’t be worried if one or more of your dreams “seems” unrealistic.
• For each of your top 5 dreams, further refine them so that they are specific and measureable.
• 48 hour action plan –
• As discussed in the life values section in Part 2 of this series, list at least some specific action that is possible to take upon your dreams in the next two days.
• Next, for each of your dreams, list who, if anyone, you want to share them with.
• Fifth, you will want to list what specific life value (from Part 2) this dream helps you fullfill.
• Personally, I feel this is one of the most important steps. For me, it is interesting to see how related my dreams are to my life values.
• Finally, for each of your dreams, write down a rough estimate of how much it will cost.

Do you have all of these 6 items recorded for each of your dreams? Good work!

Feels like quite an accomplishment doesn’t it?

My Results for Step 5

Jacob’s Top 5 Dreams

1. Backpack on the Inca Trail in Peru
2. Hike all of the Appalachian Trail in Virginia
3. Own a cabin in the mountains/woods
4. Be part of starting/growing a biotechnology company
5. Visit Yellowstone National Park

• Dream – Backpacking on the Inca Trail in Peru
• Specific, measurable – Go on a 4 day backpacking trip on the Inca Trail in Peru, finishing at Macchu Picchu in 2012.
• 48 hour action plan – Search online for Peruvian tour companies that offer these guided backpacking trips and their prices.
• Who share dream with? Family or friends.
• What value(s) does this help fullfill? Freedom and Health
• Approximate cost – $3,000

Jacob

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