Celebrate the wins
Our brains are wired to respond to rewards. Celebrating small wins will propell you forward and help you achieve much larger goals. If you are happy about something you have done, you are more likely to keep going.
I recommend doing this regularly (once or twice a year).
What have you achieved recently?
Analyse your progress
It is important to know what your metrics are. This will differ from person to person, but should include things like net wealth, loan to value ratio, days to achieve savings targets, or value of specific investments (such as your super or the value of investment properties).
Are you on track?
Review your plan and make any changes
Once you know whether you are on track or not, the next step is to review your plan to make sure it still suits what you want.
Your plan should not be set and forget, as from my experience your needs and expectations will change over time. The changes can be due to a range of things including investments performing much better than expected, being made redundant, a family illness, a loved one dying, unexpected expenses, or your goals changing.
Is your plan still suitable, and if not, what must change? What are the key things you need to do between now and the next review?
Finally, creating financial independence does not mean living like a hermit and not enjoying life. Enjoy yourself. Go on holidays, go hiking, visit museums. Do the things that give you pleasure.
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