Long-term goals are essential for mapping out your life’s journey. Whether planning the year ahead or planning years ahead, you’re thinking beyond today. For estate planning in particular, these goals can shape your lifetime and have lasting effects after your death, benefiting both you and your family. Focusing on long-term goals helps you manage your money, ensure your well-being, and provide security for your family’s future. Yet, it’s important to acknowledge that creating and maintaining these goals can be a challenging task.
It’s Not Easy
Have you ever caught yourself reaching for an extra french fry or scoop of ice cream, despite knowing you’ll regret it at the gym later? How about putting off doing your taxes until the last minute or trying to learn a new language? These common challenges are just a few examples of how people struggle with goals.
Even though long-term goals are beneficial, setting and sticking to them can be difficult. In fact, a 2022 Gallup study found that 70% of Americans say they are somewhat or very likely to set goals; but only 8% actually achieve them. Here are some reasons as to why this occurs.
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Power of Knowledge
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- Instant Gratification: Our brains are hard-wired to prefer instant gratification from an evolutionary perspective and we live in a world that rewards immediate behaviors. This cultural inclination towards quick results makes it difficult to focus on goals that don’t offer immediate satisfaction.
- Intangibility: Long-term results can feel elusive and abstract. Since the outcomes are not immediately visible or tangible, it’s hard to grasp their real value and stay motivated.
- Procrastination: It’s human nature to delay tasks that don’t require immediate attention. With long-term goals, there’s often a sense that there is plenty of time to start, leading to perpetual postponement.
- Overwhelm and Complexity: Long-term goals, like planning far in advance, can seem daunting due to their scale and the detailed planning they require. This complexity can lead to a feeling of being overwhelmed, making it easier to avoid or abandon these goals.
Despite these challenges, however, you can be successful in planning 2024 and the years ahead. The key lies in understanding and acknowledging these obstacles so that you can take action to overcome them.
But We can Help
Both long and short-term goals are integral to planning for the future. However, they don’t achieve themselves. To get where you want to go, you need a roadmap, especially when it comes to estate planning in California.
That’s why Rod Hatley, estate planning attorney, has provided holistic family wealth management services to his clients for almost 30 years. We believe estate planning is not only about passing on financial wealth, but also intellectual, spiritual, and human wealth. From advice on tax planning and charitable giving to asset protection, we can help you create direction and purpose in your life. Call us today to make estate planning a part of your New Year’s resolutions!
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