What’s Your Exit Strategy?
Backstep Forward Newsletter
by Kyle Mast, CFP®
A short, to-the-point, weekly newsletter.
One challenge to take a step back.
One idea to propel you forward.
A well-thought-out, pre-planned exit strategy can turn an unexpected life change from hardship to opportunity. (Share this on Twitter)
One of the things I’ve become convinced of over the years, both in my work with financial planning clients and in my own journey, is the importance of exit strategies.
Commitment is a very strong asset for growth in many areas, and in some things (marriage is a good example), it is the unwavering, uncompromising commitment that makes all the difference.
However, in many areas of life, there comes a time when change is needed, or even forced upon us. The interesting thing is that we know this is inevitable, as we’ve seen it happen to those around us and yet we often neglect to plan how we would handle it ourselves.
Backstep
Take a look at your current circumstances. Work, location, family, etc. What two or three things, if they were to happen, would cause you to need to make drastic changes to your life? If you are married it really helps to chat with your spouse about this as their perspective can be invaluably different than yours.
Forward
Create exit strategies and plans for each of these scenarios. How would you pivot if the change had to happen? What do you need to do, right now, to prepare yourself and your family for that potential change?
A well-thought-out, pre-planned exit strategy can turn an unexpected life change from hardship to opportunity. (Share this on Twitter)
Kyle Mast, CFP®
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