Success in 2024 [Do These Nine Things] (426)

Let's make 2024 truly incredible (for you and for others) by doing these nine critical activities.

1. Decide On Your Goals

I’ve talked many times on this podcast about Warren Buffett’s 25/5 goal-setting strategy. It works. It also gets your priorities straight and helps you FOCUS.

2. Review Your Goals Every Morning

Part of my personal success formula is writing down and then reviewing what I want to accomplish every morning of every day. Seriously…just take five minutes out of every day and it will change your stars.

3. Donate Something Every Day

We all have too much stuff. Let’s change that in 2024. Let’s start de-cluttering now and then, every day, donating one thing to charity (some place like Goodwill or your church). We know a couple of senior citizens who are doing that right now. I am amazed how purging old things can free up the mind and the spirit. It’s like a weight being lifted.

4. Track Your Habits

If you complete your goals, you’ll start to identify habits. Do you have a health goal in 2024? Then you probably have an exercise, running or eating habit you are determined to learn. Use an app like HabitBull to keep track of your habits, and it will remind you when you need a kick in the pants.

5. Set a Book Goal

The most curious and interesting people I know read A LOT of books. I have a prejudice against people that do not read on a regular basis (sorry). Goodreads is a fantastic place to set your reading goal for 2024 (and be sure to mix up a little fiction with nonfiction). If you need a Goodreads friend just follow me here.

6. Recurring Expenses Cut

A few years ago, my wife and I went through our recurring expenses (like Netflix and news subscriptions) and we were shocked by the results. At the end of the process, we ended up cancelling quite a few services we really didn’t need. This ended up saving us well over $200 (so we could buy more beer).

7. Password Maintenance

I have believed for quite some time that the biggest threat to our personal financial existence is someone hacking into our accounts. Protect yourself by using a service such as Dashlane to create super strong passwords (and ones that you don’t have to remember).

8. Update Your Will or Trust

My wife and I just updated our will. We do so every year. This year, since the kids are 20 and 22, we shared our plans with them.

You’d be surprised how things change in just a short time.

If you have a will or trust, get it updated. If you don’t, get one pronto. You'll sleep better at night.

9. Time to Update Your Financials

2023 has been another crazy year for investing. The Dow is up 10 percent this year. The NASDAQ is up 40 percent and Bitcoin is up 150 percent.

All this means that your financial allocations are probably out of whack and you need to re-diversify. You may want to do this before the end of the year depending on your tax situation.

When you do this, pick allocations that help you sleep at night. Don’t do anything that will make you want to check your stocks every day.

Here’s Orangeletter #115 where I talk about the 10 things you need to do with your finances today. And, if you didn’t already receive it, here’s a PDF of my perfect investment strategy.

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