Working with individuals over time, on financial planning topics, a common refrain is that the topic seemed to be so daunting. Because of this, try this exercise.
Crown yourself the chief financial officer of your life. Try that on for a little bit. How does it feel? Do you feel uncomfortable with that title? If it does feel uncomfortable, examine why it feels uncomfortable. Is it just because you don't like role playing games? Is it because you feel like you are an impostor in that role?
One of the most powerful things you can do for yourself is to act "as if". What this means is this: Suppose you find that you don't know much about 401-k's, or you don't feel comfortable with picking a mutual fund. What advice would a chief financial officer give you? Would a chief financial officer advise you to talk to people who have invested in these instruments. Is there a class you can take at a library? Can you start asking questions of professionals that advise about those investing instruments?
The point of taking on the title if chief financial officer is to start to practice being in the reality of owning your financial path. No matter what we decide we want to do, we often start from the place of not knowing much about the goal. When a kid begins playing a sport, they have to learn, and they will act "as if" they are their favorite player. If you admire Warren Buffett, or you admire Suze Orman, or you admire Jim Cramer - imagine you are one of them, take on the mantle of being that persona, and be in their mindset for a while. Ask, what would this person do to take the next action? What do I need to do? Then, very important, wait for the answer - and even more importantly, take action on whatever you hear.
Role playing can be fun, just like when we were kids....have fun!
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