Surprisingly, the term "bucket list" (referring to a list of things to do before one's demise) actually emerged in 2007, coinciding with the release of the movie bearing the same name. Considering its widespread popularity and frequent usage, it's rather astonishing to realize that it has only been with us for a mere 16 years.
Even so, most of us actually have some kind of bucket list, even if it's just a casual one. We often think that retirement is the time when we'll finally start ticking off those items, one by one.
But here's the exciting part - each of those "buckets" is filled with an incredible variety of possibilities. Some may find joy in simple and affordable pursuits like penning their memoirs or mastering a musical instrument. But for the adventurous souls out there, the bucket list takes on a grander scale - envision a breathtaking European tour or becoming SCUBA certified to explore the wonders of the Great Barrier Reef. The world is yours to explore and experience!
No matter what you've got in your bucket, turning your goals into reality doesn't have to break the bank. With careful and intelligent planning, you can conquer those goals without draining your checking account. Check out these tips to make your dreams come true while keeping your finances in check!
1. Discover your true priorities. Take a moment to delve into what truly matters to you, and let that ignite your passion for prioritizing your bucket list. . You’ll be much more likely to achieve a goal that arises out of who you really are.
2. Jot it down. A crucial step in reaching any goal is to bring it to life through visualization, and nothing does that better than putting pen to paper. Begin with your highest-priority aspiration from step 1, and pour out all the details you can muster: the costs involved, the timeline you envision, and the necessary resources to make it a reality. The more you infuse it with tangibility, the greater the chances of turning it into actuality.
3. Start saving now. The earlier you back your dreams with tangible assets, the greater your chances of seeing them come true. Besides your "normal" retirement accounts, consider setting aside a special fund dedicated to your special goals. Take a look at your calculations from Step 2, determine how long it will take to save the required amount, and include it as a line item in your regular savings plan. Boost your progress by using a budgeting and saving app like Mint, which will help you set goals and keep track of your journey. Let's make your financial aspirations exciting and achievable!
4. Be strategic. Is travel at the top of your wishlist? Dive into the world of credit card rewards and unlock the possibilities (but remember to pay off those balances; drowning in interest won't get you any closer to your goals). And what about stepping out of your comfort zone? Let's say you're a natural introvert, but the spotlight of stand-up comedy has always beckoned. What changes will you need to make in order to turn your dreams into reality?
At Moscaret Investment Advisory, we go beyond numbers on a balance sheet. We provide comprehensive guidance with a personal touch. Our mission? To empower you in achieving your most important goals, both financial and non-financial. To learn more about how we help family stewards safeguard the financial welfare of future generations, contact us here.