We can thank Julius Caesar for starting the new year on January 1st. In 46 B.C. he instituted a new calendar that would more accurately sync with the annual cycle of the sun. This Julian calendar was used throughout the western world for more than 1600 years, until Pope Gregory XIII replaced it with the even more accurate Gregorian calendar we use today.1
The ancient Mesopotamians started their year with the spring equinox. The Egyptians started theirs with the annual rising of the Nile River (in mid-July). In both cases calendars were driven by significant events in the agricultural year.
Since most of us don’t work on farms, we look at January as starting the new tax year, the new business year, and a possible new beginning in our personal lives. What bad habits can we leave behind? What good habits can we adopt? And what milestones can we reach before next New Year’s Eve?
But making positive changes that become the norm can be a real challenge. If history is any indication, your local gym will be crowded the first week in January. And then back to just the regulars by Valentine’s Day.
Jennifer Deane, an executive leadership coach, recommends a five-step process for preparing for the year ahead.2 Interestingly, the first three steps involve looking back and reflecting. Before setting new goals it’s important to review your old goals and to track not just how you did on them, but how your life has progressed over the last year.
While some might not want to review the previous year, fearing it will only produce a catalog of failed ambitions, Deane asserts that the exercise can be surprisingly affirmative. First, we naturally remember failures more easily than successes. So, it often takes reflection to bring them to mind. Second, we need that information to prudently set future goals.
“I take comfort from reviewing past year’s accomplishments,” Deane writes, “and I find new lessons when I reflect on some of the bigger challenges I was facing. It’s an incredible gift and I invite you to try it for yourself.”
Her five steps for annual reflection and goal setting:
Reflect on your greatest challenges in the year
Reflect on your greatest achievements in the year
Reflect on what you are most grateful for right now
Set aspirations/goals/directions for the key areas of your life for next year
Give yourself a glimpse of your life five years from now and identify one important, long-term goal
Deane adds, “This December, give yourself the gift of reflecting on your life and harvest what you have learned over the past year.”
While you’re at it, be sure to set specific financial objectives as well. Your trusted advisor is available to help you achieve your near- and long-term goals for your money.
If you ever have any questions about your investments or retirement plans, please feel free to give me a call at 801-545-0696.
Regards,
Mark Lund
Stonecreek Wealth Advisors, Inc.
11576 S State Street, Bldg. 1002
Draper, UT 84020
Sources:
1. http://go.pardot.com/e/91522/topics-holidays-new-years/949vbm/2158002186/h/zGl2fNuX6PMiS8hLRsbQOrvCVpSoJ7r3Byu72051Ozw
2. http://go.pardot.com/e/91522/d-jennifer-deane-pcc-she-her–/949vbq/2158002186/h/zGl2fNuX6PMiS8hLRsbQOrvCVpSoJ7r3Byu72051Ozw
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