The Three-Year Review and The Three-Year Plan

As we navigate our careers and personal lives, taking a moment to reflect and plan can be transformative. Here’s a strategy that has worked wonders for me: the Three-Year Review and Plan.

Reflecting on the Past Three Years:

?? Career Progression: Assess your achievements, skill growth, and role changes.

?? Financial Health: Review your savings, investments, and overall financial stability.

?? Personal Development: Look at the new skills you’ve acquired and your personal growth.

?? Relationships: Reflect on the quality of your connections with family, friends, and colleagues.

?? Health and Well-being: Evaluate your physical and mental health journey.

Top Five Lessons Learned:

1. Financial Literacy: The importance of budgeting, saving, and investing.
2. Adaptability: Adjusting financial plans to life’s unexpected changes.
3. Long-term Planning: Setting and working towards long-term financial goals.
4. Risk Management: The need for insurance and emergency funds.
5. Mindful Spending: Differentiating between wants and needs.

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Changing Views on Money and Wealth:

?? Wealth as a Tool: Money is a means to achieve life goals, not an end in itself.

?? Sustainable Growth: Focus on steady, sustainable financial growth.

?? Value of Experiences: Prioritize spending on experiences over material possessions.

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Planning for the Next Three Years:

Financial Goals:

?? Emergency Fund: Save 3-6 months’ worth of living expenses.

?? Debt Reduction: Pay down high-interest debts.

?? Investment Growth: Increase contributions to retirement accounts and investments.

?? Education and Skills: Invest in further education and skill enhancement.

?? Health and Wellness: Allocate resources to maintain or improve health.

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Achieving These Goals:

?? Budgeting: Align your budget with your financial goals.

?? Automated Savings: Set up automatic transfers to savings and investment accounts.

?? Continual Learning: Stay informed about financial management and investment strategies.

?? Professional Advice: Consult with a financial advisor for personalized guidance.

?? Regular Review: Quarterly reviews to track progress and make adjustments.

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Key Takeaways:

? Recognize Achievements: Regular reflection helps stay motivated.

?? Set Realistic Goals: Focus on incremental changes for long-term success.

?? Three-Year Perspective: Balance detail and long-term vision with a three-year horizon.

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Actions to Consider:

?? Journal Your Progress: Document achievements, challenges, and learnings.

???????? Share Your Journey: Impart financial wisdom to loved ones.

?? Celebrate Milestones: Acknowledge and celebrate incremental benchmarks.

By embracing this three-year review and planning approach, we can create a roadmap for continual improvement and sustained success. Let’s make thoughtful, informed decisions for a fulfilling and secure future! ??