February 10, 2022

Reach Your Goals with these Two Simple Strategies, Ep #84

19 minutes

How can you increase your productivity and effectiveness to reach your goals? There are two things I implement in my personal and professional life that have transformed my productivity. Even better, one of the strategies is backed by solid Harvard research. Tune in to this episode of the Retirement Made Easy podcast to learn more!

You will want to hear this episode if you are interested in...

[2:06] How to get a FREE retirement assessment
[3:25] Why we are so big on goal-setting
[5:21] The recipe for success: The Essential 6
[9:00] Increase the odds of accomplishing your goals
[16:52] Create a plan for what you want to accomplish
[17:32] A couple’s guide to a dream retirement

The recipe for success: The Essential 6

75 years ago, a wealthy man by the name of Charles Schwab hired a man named Ivy Lee (later recognized as the founder of modern public relations). He asked him to create a recipe to help him become more productive and efficient. Ivy Lee gave him a strategy but insisted—to find success—that he had to do it consistently for 30 days.

He asked Charles to pay him whatever he thought the results were worth after the 30 days were up. So Charles did what he was told consistently and was blown away. He wrote Ivy Lee a check for $25,000 (which was the equivalent of $229,000 based on inflation). How was this ‘recipe’ worth $229,000? What was the recipe for success?

Write out the 6 things you want to accomplish in your next day by order of priority. The next morning, start on one and work your way through the list. At the end of the day, write your goals for the next day. I do this in my personal and professional life. Even if it’s as simple as mowing the grass or mailing a card, I’m more productive and succeed at reaching my goals.

Do this for 30 days and let me know how it works for you!

The groundbreaking Harvard study

In 1979, some research conducted at a Harvard MBA program looked at the graduating class. The class was asked one simple question: Have you set written goals and created a plan for their attainment?

84% of Harvard graduates had no goals and no plans to accomplish them
13% had written their goals down but had no plans to accomplish them
3% if the graduates had written goals and a plan to accomplish them

10 years later, they followed up with these students. Their results were astounding:

The 13% were making 2x as much as the 84% who didn't’ have written goals
The 3% who had written goals and plans? They made 10x as much as the other 97%.

Brian Tracy says that “The act of writing your goals increases your odds of achieving them by 10 times.” It’s time to start writing out your goals!

Increase the odds of accomplishing your goals

We recommend that our listeners write down their retirement goals. Do you want to retire at 62? Pay off your house? Buy a condo in Florida? Live on a certain amount of money? Be financially independent? Take meaningful vacations every year? Write it down and be specific.

When you write down your retirement goals, we will help you determine a plan of action—a roadmap—to reach those goals. We find that many people save for retirement haphazardly. They aren’t following a plan. But the more you plan, the better the results will be.

Resources & People Mentioned