- The very poor think day to day.
- Poor people think week to week.
- The middle class thinks month to month.
- The rich think year to year.
- The very rich think decade to decade.
This is what happens when you plan long term:
- If you have a bad few months, or even a bad year, it’s just a bump in the road.
- Ten-year goals are small enough for you to believe that they’re achievable, but big enough to really move your life in the direction that you want it to go.
- You can strike a better balance between your present wants–e.g. I want a new pair of shoes–and your future wants–e.g. I want to make a sizeable investment in a mutual fund.
- Making a tangible difference takes a long time. If you’re always thinking in the short-term, you’ll never accomplish anything great.
- Long-term thinking gives your life purpose and direction.
- Once you have a long-term plan, you can set mid-term and short-term goals that will allow you to achieve that long term plan.
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