David,
Whew! I just finished my homework this week and I feel much better than I did after completing last week’s assignment! (I was one of the people who felt despair after “seeing where all the money goes”. I found this week’s work to be very inspiring! I know last week’s homework was important foundational stuff. I think for me I have always put off doing a net worth worksheet and figuring out where all my money goes because I was afraid of what I might find. Well, you can’t fix what you don’t aknowledge!
I figured out that I spend more than I make and have since been cutting back in the “fluff” areas.
I want to say a big “THANKS” for the Power-Charge Exercise. I have always been a big goal-setter and have ALWAYS started my week out with a big “to do” list. I found the Power-Charge to be a much more positive way to look at things. Doing the exercise made me really see how much I get done. I determined that I actually am pretty good at getting stuff done!
For the rest of the homework, I did the following;
1) Phoned my benefits department at work and maxed out my 401k contribution (I have been enrolled for several years but had been making NO contribution for the last two years). I know this 15% contribution may cause me a little pain for awhile but it will be worth it. I will figure out a way to make it work!
2) I found out that I had NO beneficiary selected on my 401k and asked to be sent papers to correct this!
3) My current 401k account was weighted heavily towards my company stock. I re-diversified my existing account into a Balanced Fund (after doing research through several websites noted in your book).
4) I called my lawyer and made an appointment to update my will.
5) I made a phone call to my manager to see to check out the possibility of switching from an employee to independent contractor.
6) I completed my Values Circle. This was another very empowering exercise! I found that it really “linked” my core values to my money and that in-turn has made me more excited about creating as much wealth as possible! (Instead of just making money for the sake of having money).
I can’t tell you how good I feel about everything I have accomplished in your class so far!!! I really feel like I am making some progress. The concept of the purpose-focused financial plan is HUGE for me! I am AMAZED at how much happier and fulfilled I feel just knowing my values based plan and knowing I am working on it NOW instead of having it be something I would eventually get to “someday”.
THANK YOU DAVID!
