Episode 158: What It Takes To Lose 100 Pounds or Achieve Your Financial Goals
Today’s Prep:
Losing 100 pounds is a huge accomplishment, but it didn’t happen overnight! We talk about what it takes to achieve big goals, both with weight loss and with our financial plan.
Equipping Points:
Goals have to have a plan, strategy, and determination to make them become a reality. Last year, co-host Walter lost 100 pounds! With such an amazing accomplishment, we wanted to hear how he did it and how it relates to achieving our financial goals.
To start, he had to have a plan and inspiration. Walter’s motivation was sparked in the summer after realizing where things had gone during the harder parts of the pandemic in 2020. He put together a written plan and worked with local coaches. There was a step-by-step starter plan in a binder to help create new habits and track progress. Just like having a yearly net worth statement, you feel empowered by knowing your progress and where you’re going. Maybe you don’t know all of the specifics of the future, but you can determine the direction and will be more likely to succeed without a plan.
Walter’s journey started simple with two rules, but got more complex over time as he was able to handle more. Habits are built by keeping it simple. For Walter, the simple rules were no sugar and no flour. In David’s world, his rules are no credit cards and consistently save 10 percent of what you make. Success breeds more success! So, once you meet and exceed those goals, you might set even bigger ones.
Prepare yourself though, you will face setbacks. When losing weight, there are often plateaus that may feel frustrating. If you’re in your 20s, 30s, or 40s, retirement may be a long way away. After years of a strong market, it might feel unsettling to face a financial plateau. Don’t let the setbacks alter your long-term plan.
Feeling inspired to accomplish some of your financial goals this year? Reach out to David for coaching to make sure you are following the simple rules to get you headed in the right direction.
Listen to the full episode or skip around to certain topics.
0:55 - Co-host Walter lost 100 pounds in 2021!
3:13 - What was the plan?
6:54 - What was the inspiration point for David to get into financial planning?
10:20 - Having a plan makes you more likely to reach your goal.
15:20 - Success breeds more success.
17:41 - Recognize that you will have setbacks.
21:10 - Retirement may be a ways away and hard to visualize the end goal.
Today’s Takeaway:
“Most things that you accomplish, you’re inspired to do by something that happened in your life that is important to you."
– David Dickens
KC Financial Advisors Blog


