Why I suck at long term goals

by Kristina on September 30, 2014 · 0 comments

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Admittedly there are not a lot of changes in my life from year to year and I like it that way; that’s not to say I plan for the long term, it’s just because I stick to my normal routine.  For this reason it’s extremely awkward when I bump into old friends on the street or to family at reunions and someone asks me what’s new with me.  The God’s honest truth is absolutely nothing – I’m not just saying it to avoid the conversation.  I still work in finance, I’m still a financial planner and I’m still with the same boyfriend.  That’s about it.

Why don’t I ever plan anything for the long term?  I think it’s because long term commitment absolutely freaks me out.  This may be why Nick (my boyfriend of 15 years) and I have yet to buy a house – or get married.  Trust me he has the same issues.  It’s not like he’s proposing to me every year and I’m saying no, he is just not asking.

I know what you’re thinking, but you’ve had the same boyfriend for 15 years and yes that’s true.  But that’s because I love him and I don’t like change.  Let me give you an example of our long term commitment issues.  We bought a house twice and both times we both freaked out and pulled out of the deal.  I don’t know what it is about signing on the dotted line but I can’t commit to anything long term, not even a yearly gym membership.

To say that I’ve never done anything long term would be true.  Other than go to school and live with Nick I haven’t EVER done anything long term.  I keep my cell phone contract to a minimum and I’ve switched providers four times in the last ten years.  I switched my major in college three times in four years and I sold my car after only three years of the initial five year financing agreement. So now you see what I mean – no long term commitments.

This is why I live my life one year at a time

Long term is boring.  Short term goals are so much fun. It’s great to have something to look forward to and know that it’s coming sooner than later.  I like to have a short term travel goal every three to four months.  I need to get away because I like travelling and when I’m in one place too long I get bored – but I still like to have a routine, if that makes any sense at all.

It’s hard to keep track.  I definitely have commitment issues and tracking my progress over the long term is no exception.  I just can’t commit to working towards the same goals and checking in on them over anything longer than twelve months – and by twelve months I’m being very generous, I have more of a six month attention span.

My OCD needs shorter term goals.  I am sure part of my inability to commit to anything long term has to do with my fixation on the need for change.  I am OCD in the sense that when I have something in my head there is no stopping me but at the same time I’m ADD in the sense that I always have several things on the go.  I change our home decor and redecorate often because I just can’t stand to look at the same thing for too long.  I am one of those girls who changes her nail polish color twice a week because I just get bored of looking at the same color for too long.

Do you think this is an underlying problem to a bigger issue? Be honest!

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In the current economic climate, it is not surprising that there is a certain degree of uncertainty and distrust in the financial markets – particularly from those interested in investment without much experience or expertise.

That being said, the reality that we have to face up to is that without investment there won’t be any financial growth and there are methods and institutions out there that can prove to be successful ventures, you may just need pointing in the right direction. What follows are some examples of the ways and means of investing your money without the pitfalls:

The Latest Trends
One of the more simplistic systems to follow is to essentially keep abreast of the financial times and eventually you may be able to forecast for yourself any potential money spinners – although this can take a long time.

This does have an element of risk involved though; some of the current trends like Property, Green Energy and Retail are quite uncertain and volatile at the minute due to the political fears in the UK stemming from the Scottish Independence Referendum. Which again stresses the importance of thorough market research and making sure you bide your time with potential investment opportunities.

Professional and Reliable
If you want to invest more immediately but are anxious and have doubts then hiring an established and professional investment company like Killik & Co is the best option for you. A firm like this would provide a team of experts to analyse and research for you, before offering advice and guidance on the best course of action for your fiscal endeavours.

It is also worth remember that this company will be looking to ensure they keep you as a client so will do their utmost to help you return a profit, but if you still feel unsure then you need to check for the following factors that suggest reliability:
– How many years have they been operating?
– What examples of successful clients they can provide?
– How they can specifically support you?

Any company worth their salt will be transparent when it comes to cost; from the outset they will make it completely clear how much they charge, and how much they could bring you in return.

‘Personal’ Investment
Whatever you choose as your course of action, you need to remember that no one can make you do anything with your money. It is your personal choice, but despite all the negative press there are still ways and systems out there that can make your financial investments positively life-changing, you just need to take the chance.

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REAL ESTATE COMPARISON IN OTHER CITIES

CANADA

U.S.A.

NEW ZEALAND

We’ve been our own mini real estate tycoons here in Washington, DC, having bought and sold 10 times over the last decade. Now we are actually moving to Portland, Oregon and it is amazing what a difference there is in real estate. It’s amazing to see the difference of what money can buy.

It looks a bit like a game of high/low to see what you can buy!

$250k

If $250k is your budget in Washington, DC you’ll get 400 sq ft!
In comparison, we actually sold one of our investment rentals in the spring for $255k. This was a 400 sq ft studio that was on the market for two weeks in February and sold for asking.
DC 250

Over in Portland, a similar place is the top floor of a mansion built in 1925, 1310 sq ft, and it has been on the market for the last 123 days for $268k
PDX

$700k

We put our 950 sq ft penthouse apartment of a mansion built in 1900 on the market for $650k and sold it in four days over the Labor Day weekend with a bidding war up to $675k.
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Comparing back to our place, in Portland I had found my dream place at $700k. It is a 4 bed 4 bath 3000 sq ft place in the perfect neighborhood.
700 PDX

$400k

We ended up settling on a fabulous little home in the best neighborhood for $394k
400 pdx 2
400 PDX
backyard

This almost the same price as our first place is Washington, DC, purchased in 2006 for $356k and would be around $400k today. It is in a great neighborhood, but only 550 sq ft. We lived there for 5 years and now rent it.

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Have a Million to spend?

In Washington, DC you’ll get a condo that is 2,180 sq ft, 2 bed 2.5 bath, in a transitional neighborhood.

DC8440904 - Interior (General)

In Portland a million you’ll get a gorgeous place that is 4 bedroom 3 bath (4365 sq ft and on a nearly 15k sq ft lot in an ideal part of Portland).
PDX 1 Mil

If you are looking for real estate in either city, we love both of our agents. We have worked with Marcie Sandalow in Washington for the past decade. We also love Carrie Richardson and her team in Portland!

This definitely makes me see that a move to Portland helps in the goal of Sustainable Family Finances, the other blog I write for.

What can you buy in your hood?

Cheers,

Miel

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Choosing The Right Home Loan For Your Needs

September 29, 2014

Choosing the best home loan for your current financial situation can be a difficult task due to the numerous options available from various lenders. There is a wide range of home loan products offered by lenders to ensure that nearly everyone that wants a home loan will be able to get one that fits with […]

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Weekly roundup: I’m back from New Orleans…check out the pic

September 26, 2014

Good morning Dinks.  Happy Friday.  I’m back from New Orleans and I just want to say that I had a really great time with all my personal finance friends at FinCon.  The city was historic, the bayou was breathtaking and it’s safe to say that New Orleans is a lot of fun. I hope you […]

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My personal oath for my new job

September 25, 2014

Good morning Dinks.  I announced a few weeks ago that my investment firm is being sold to a competitor;  the news is equally terrifying and exciting.  I’m terrified because Nick and I are moving into a new apartment October 1st and come January I don’t know if I’ll have a job.  However at the same […]

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5 Reasons Why Having a Website Is a Good Investment

September 25, 2014

The world’s current trends are that almost everything is via the internet. People are looking for opportunities and making money online. Websites have become the offices of this generation. Through websites, transactions are effortlessly carried out without any physical contact and people are making big money. It is until you be having your own website […]

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Find a work life balance: Relationship style

September 24, 2014

Good morning Dinks.  There are just some things that are bad for your relationship, things like being stuck in traffic, always wanting to be right and being a work-a-holic.  The key to happiness in a relationship is patience, understanding and a whole lot of compromise, especially when it comes to work and your career. Finding […]

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Your top 3 retirement questions: ANSWERED

September 22, 2014

Good morning Dinks.  Remember last week when we talked about investing for short term goals?  We mentioned that goals are personal but we can all use discipline and focus to achieve them.  Well today we are talking about our long term goals.  Actually we are talking about the one long term goal we all have […]

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