At 17, I was intent on joining the U.S. Army as a tanker. I attended the cadet training program at Fort Knox in Kentucky the summer following my junior year in high school where I learned something that stuck with me and continues to play an important role in my life. When addressing our rag-tag assembly of sweaty, nervous high school kids, the commanding officer said, “We live in a world that expects little. If you just give 10% more, you can accomplish anything you want.”
Throughout my life, this has proved true. But here’s the thing—you don’t even need to give that much. Think about professional golfers where the difference between one good putt and one missed putt may only be 2% or 3%. However, the result could equate to a 10,000% improvement. That’s the exponential difference maker (EDM) at work.
EDM is something I’ve used my whole life and continue to incorporate today. Time and again I’ve found that just a little extra effort can have an astonishing impact on the corresponding result. As you apply this to your own life, think about how that extra phone call, caring gesture or few minutes spent preparing for a meeting or presentation can have an impact. Chances are, if you do this consistently, you’re not just going to get a one or two percent result, you’re going to see an exponentially greater result.
While it can be a hard concept to believe, I challenge you to try it for six months. Be a little sharper at a meeting, prep a little more, get up a little earlier, ask for the extra referral, spend a little more time with family, be a little more grateful for what you have. By doing this, you separate yourself from 99% of the competition in sports, business or your career. Giving just a little bit more also helps to build stronger relationships with friends, family and coworkers—all because these small acts and gestures add up exponentially.
The same can be applied to your financial life:
- Saving a little more now, for long-term goals like retirement, means you can save less later, as you near retirement.
- Increasing debt payments by just a little more each month means you’ll be debt-free sooner.
- Paying one extra mortgage payment a year can take several years off the life of your mortgage.
People often lament that thinking about their finances is overwhelming—there’s too much to do and organize. They don’t know where or how to start. Like any task that feels overwhelming at first, my advice is to break it down into manageable parts. Instead of allowing yourself to become overwhelmed by the various components that make up an estate plan, just focus on the first small step: make an appointment with an estate planning attorney. Your attorney will take care of the rest, walking you through the process of putting the right legal documents in place, such as a will, power of attorney and healthcare directives. The peace of mind you get in return—once you have a plan in place—will have an exponentially positive impact on you and those who depend on you.
The same goes for engaging with an independent fiduciary advisor. The few minutes it takes to ask a friend, relative, colleague or an advisor, such as your CPA or attorney for a recommendation for a financial advisor they trust, can put you on the path toward protecting and growing a lifetime of wealth. That one simple act could make an exponential difference in your life.
To learn more about choosing the right advisor for your needs, download our complimentary guide, 10 Questions to Determine if Your Advisor Meets Standards.
The Link LonkAugust 24, 2021 at 05:30PM
https://www.forbes.com/sites/rcarson/2021/08/24/what-could-you-accomplish-with-just-a-little-more/
What Could You Accomplish With Just A Little More? - Forbes
https://news.google.com/search?q=little&hl=en-US&gl=US&ceid=US:en
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