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As we approach Christmas and the end of the year, I'm getting ready for one of my favorite nights.
You see, I love New Year's Eve.
And not because I look forward to the lavish parties folks like to hold on that final night of the year.
In fact, I don't party at all.
Instead, my wife and I have established a neat little ritual that lets us say adios to the outgoing year and to welcome in the new one by setting some goals for the one that's coming in.
We dress up and go out for a late dinner – usually at one of the nice local eateries that we like and support. But before we do, the two of us always sit by the fire and have our most important "family talk" of the year.
Each year, you see, I write an "Annual Report" that details our achievements for that year. These include accomplishments at work and in the civic projects we're involved with, great investments we've made, and projects we've completed.
As my wife and I sit by the fire, we review that "report" – and celebrate our accomplishments. And then we establish goals for the new year – creating an "Investment Action Plan" whose success or failure we'll review at our "chat" the following New Year's Eve.
I'm sharing this story for a reason: My wife and I have been doing this for more than a decade now. That's long enough to see that this "tradition" has had a positive impact on our lives.
And it points to a habit that I believe every investor should develop.
I'm talking about developing an Investment Action Plan.
It can help make you a winner.
In fact, it can help make you rich.
A Superhighway to Super Wealth
You've heard me say this many times – the Road to Wealth Is Paved by Tech.
And like any journey, you're more likely to arrive at your intended destination safely, on time, and without getting lost if you have a proper map.
And that "map" is essentially what an Investment Action Plan is all about.
I'm speaking from years of experience.
There's a good reason that an Investment Action Plan breeds success: The process of creating the plan – and being honest about your goals, your feelings about risk, and about the amount of capital you have to work with – dramatically elevates the odds that you're going to succeed.
With that in mind, let's go through just what your specific Investment Action Plan might actually look like…
Let's take a look at how you can use these guidelines to start putting together your Investment Action Plan for 2017. You need to…
- Detail Your Goals and Objectives: This section is crucial because your goals – how much you need and when you'll need it – influence every ot…
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.