Financial Education Video

Do You Have a Plan?

Everyone has plans — or are they dreams? This short video draws the line between the two, and makes the case that a real plan is flexible, resilient, and built to survive a few hard punches along the way.

Video transcript

Does your life have a plan? Everyone has plans, right? Or are they dreams? Do you know the difference? Let me expand on this for a moment. Dreams fill our imagination every day. But when that fleeting thought turns into a true desire in your life, you’ll be inspired to think: what would it take for me to actually make that happen? When you start pondering — if I did this, or I changed that, maybe I’d actually make this happen — that’s when dreams turn into plans. What do I want? Can I define the goal? Can I set a time frame? Do I have the skills and resources to achieve the outcome?

That’s the difference. A dream is effortless and relaxing, whereas a plan takes work and discipline. A plan is a two-fold exercise: you plan for what you want, and you plan for what could happen. Our plans need to be flexible and dynamic, because the world will always place obstacles in your path to success — and you should expect this. I believe the heavyweight boxer Mike Tyson said it best: “Everyone has a plan until you get hit in the mouth.”

That’s the mental image I want to impress upon you. We are emotional creatures, and an emotion can override even the most disciplined personalities. A well-trained boxer has the encouragement and strength of a team of professionals to remind him: stick with the plan. Your plan will get punched, and maybe even beat up a little — and sometimes that’s the price of an education. We learn from our negative experiences. So slow down and catch your breath, but don’t give up. Modify the plan, and come out punching.

This video and transcript are for educational purposes only and do not constitute individualized investment, tax, or legal advice. Patriot Asset Advisors is a Registered Investment Advisor. Investing involves risk, including possible loss of principal. Consult a qualified fiduciary advisor before making financial decisions.