How to Make the Most of the New Year – Presented by Mark K. Lund, Financial Advisor in Utah

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.

Mark Lund
Stonecreek Wealth Advisors, Inc.
11576 S State Street, Bldg. 1002
Draper, UT 84020


Disclosure:This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This material was prepared by Efficient Advisors, LLC (“EA’) for Mark Lund, Mark is a Financial Advisor in Utah. He is known as a Wealth Advisor, The 401k Advisor, Investor Coach, Financial Planner, Investment Advisor and author of The Effective Investor. Mark offers investment advisory services through Stonecreek Wealth Advisors, Inc. a fiduciary, independent, fee-only, Registered Investment Advisor firm providing investment management and retirement planning for individuals and 401k consulting for small businesses. Mark’s newsletter is called The Effective Investor Newsletter. Cities served in Utah are: Salt Lake City, Salt Lake County, Utah County, Park City, Murray City, West Jordan City, Sandy City, Draper City, South Jordan City, Provo City, Orem City, Lehi City, Highland City, Alpine City, American Fork City. The views expressed herein are exclusively those of Efficient Advisors, LLC (‘EA’), and are not meant as investment advice and are subject to change. All charts and graphs are presented for informational and analytical purposes only. No chart or graph is intended to be used as a guide to investing. EA portfolios may contain specific securities that have been mentioned herein. EA makes no claim as to the suitability of these securities. Past performance is not a guarantee of future performance. Information contained herein is derived from sources we believe to be reliable, however, we do not represent that this information is complete or accurate and it should not be relied upon as such. All opinions expressed herein are subject to change without notice. This information is prepared for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. You should seek financial advice regarding the appropriateness of investing in any security or investment strategy discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. You should note that security values may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Investing in any security involves certain systematic risks including, but not limited to, market risk, interest-rate risk, inflation risk, and event risk. These risks are in addition to any unsystematic risks associated with particular investment styles or strategies.

Category: Blog, Newsletters

About the Author ()

Mark K. Lund is the author of The Effective Investor, a #1 Best Seller, and founder of Stonecreek Wealth Advisors, Inc. an independent, fee-only, Registered Investment Advisory firm. He has provided articles for or been quoted in: The Wall Street Journal, The Salt Lake Tribune, The Enterprise Newspaper, The Utah Business Connect Magazine, US News & World Report, and, just to name a few.  Mark publishes two newsletters called, “The Mark Lund Growth Report” and “Mark Lund on Money.”  Mark provides CPE (continuing professional education) courses for CPAs.  You may also have seen him on KUTV Channel 2, or as a guest speaker at a local association or business. Mark provides investment and retirement planning services for individuals and 401(k) consulting for small businesses. In his book, The Effective Investor, Mark exposes the false narrative magazines, media, big Wall Street firms, and most advisors want you to believe. The good news is that Mark will show you that you don’t need their speculative ways of investing in order to be a successful investor. Get a free copy when you schedule your initial consultation.

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