Here’s How To Prepare For An Impactful 2022

We’re into the last month of the year, how time flies. Time to take stock, reflect on accomplishments and setbacks for this year, and think about the purpose and impact you want to have in 2022.

2021 is another dominated by the pandemic yet again. Though external factors and black swan events like the pandemic can be hugely disruptive, we can choose to go on with life as best as we can since the alternative is…well, futile. 

So, create the future you want! In this regard, listing down goals and making plans to achieve them is an excellent way to provide structure and vision to the year ahead, reinstating some sense of control back into our hands. Are you ready to take charge of your life in 2022? Let’s start with some goal-setting principles. 

First thing first, decide on the areas in life to focus on for change or improvement in 2022.  A good starting point is to look at the shortcomings or areas of dissatisfaction this year. What do you want to be better next year? 

Another way is to think of new areas that you would like to have in your life, something that excites or nudges you closer to your dreams. For example, time to start planning for retirement? Get rid of the kilos gained since working from home past 2 years? Or a complete change of environment by changing career or moving overseas? 

Singling out a few areas enables better focus for the growth or change you seek without diluting attention or being overwhelmed. These areas can vary from year to year depending on your life stage, priorities and circumstance. 

For example, I choose 4 areas of my life to focus on: financial, health & wellness, venture and personal. ‘Venture’ used to be career but since stopping work, I have replaced it with pursuits or new endeavours that can add a new dimension to my life. All 4 aspects represent what I value in life so this manner of goal-setting helps me to maintain balance and ensure all 4 areas are worked on. 

I like the S.M.A.R.T way of goal-setting, a methodology learnt from my corporate days that I find extremely effective. S.M.A.R.T goals are Specific, Measurable, Attainable, Relevant and Time-bound.

The most effective goals are quantified instead of general in nature: 

1) ’Achieve 8,000 steps per day’ vs ‘To exercise more’ or 

2) ’Amass $1 million in retirement funds by age 60’ vs ‘To have enough to retire early’. 

See the difference? Setting quantifiable targets forces you to think in measurable terms, bringing into the framework what is realistic given the time period. Quantifiable targets provide clear benchmarks to assess success, and act as milestones to tally progression along the way. Goals often instil a change in our behaviours or habits and are enormously helpful in decision-making and prioritisation.

Keeping goals realistic is important as they should stretch you beyond comfort zone yet still attainable if accorded determination and commitment. If a goal is too massive, it is advisable to break it into smaller goals to be tackled over several time periods. This way, big goals are not too overwhelming, discouraging and being disregarded altogether.

Take the 2 goal statement above: ‘Amass $1 million in retirement funds by age 60.’ 

This is a goal, to be achieved over 20 to 30 years, depending on your age. It may seem overwhelming and unrealistic at first glance but by breaking it down into smaller bit-sized annual target, such as: ‘Save $35,000 a year for the next 30 years’, it  is achievable. The figure works out to roughly $3,000 a month, which is more concrete than the impossible-sounding $1,000,000. 

The bite-size goals can then be systematically conquered with an action plan and tallied yearly to help one stay on-track. Every success is a motivator for the next challenge, boosting one’s confidence and sense of achievement. 

There are static and dynamic goals. Static goals specify an end-point or desired outcome, eg: ‘Save $35,000 a year for the next 30 years’. A dynamic goal, on the other hand, is more about the process and adapts to the situation progressively, such as ‘save 35% of salary over 30 years’. In the latter, as your income goes up, the amount of saving also increases which may actually exceed the $1,000,000 limit. Of course, in determining the percentage to save in the first place, consideration must be taken into account of the final quantum and time period.

I like to use a mixture of static, dynamic, short-term and long-term goals to make things motivational and fun while keeping the horizon within radar. I also like to have at least 1 goal to be achieved with someone else, like my husband, another family member or a close friend so they continue to be integral in my life. 

My annual goal-setting is a valuable exercise in being big picture yet provides a clear roadmap towards my personal north star and life goals. It acts as a compass to navigate life and to chase the things I truly value and consider important.

So, these are my goals for 2022:

Financial:

• Increase net worth by 15% (my private version is in absolute figure). This means I have to actively invest and continue to take calculated risk to grow my wealth. The percentage is higher than last year simply to counter expected inflationary pressure.
• Divest US real estate to less than 10% of portfolio. 
• Increase equity-to-real estate ratio from 15% to 25%. This is in line with the desire to be less location-based, in preparation for more travel post pandemic. 

Venture:

• Write the thriller book I have in mind, 1 page a day.

Health/Wellness:

• 20-30 mins exercise daily, incorporate weight-bearing routine.
• Get 8 hours sleep per day.
• Switch to 70% plant-based diet.

Personal:

• Visit 1 new city.  
• Make 1 new friend.
• Learn tango together with my husband.

As the year winds down to a close, no matter how successful or disappointing 2021 has been, treat 2022 as an opportunity to become better. Like a blank canvas to paint your portrait of hope and dreams. Spend some quiet moment to get in touch with yourself. Day-dream a little and envision what your life will look like in 5-10 years. Make your goals visible for easy reminder and reference. Then lay-out plans, with monthly or quarterly milestones, and start to prep yourself on achievement. Then review every quarterly to keep yourself on track. 

Our mind is activated by visual images so the more details, the clearer the vision, the stronger the action plans. This is why vision boards are powerful as they provide images of what success look like. 

This goal-setting exercise will bring a sense of purpose and an appreciation of where you are currently versus where you want to be in life. Come what may, focus on what matters, which is to live life on your terms. Time is the only thing we cannot regain. So take action now. 

This one step – choosing a goal and sticking to it – changes everything.  

~ Scott Reed

 

Onward and upward,

Savvy Maverick

 

(Main image: Logan Easterling, Unsplash)