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Thursday, March 28, 2024

My Life Plan

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According to lifeplanningnetwork.org, life planning is a guided process by which an individual takes stock of his or her life, clarifies goals and challenges, and identifies the steps needed to move forward.

Why do we need to plan? Why it is so important? We need to plan to avoid risks and problems.

·  Risks to life and health

·  Risks to status, career or unemployment

·  Problems of lack of resources

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·  Risks of wasting limited resources, whether money, time or power

·  The risks to your self esteem if you fail

Creating a 25-year life plan is a wonderful exercise for me because if teaches me a lot of things, it opened up my eyes and gave me a vision of myself in the future. Although, I am the type of person that plans for my future, I haven’t figured out a twenty five year plan. 

Learnings from the Exercise

Personal Vision Statement – In crafting this statement, I learned to visualize myself not only in terms of working in the corporate world but to also see other avenues that can be beneficial for me and the other party. Example, I wrote in the Vision statement that I also envision myself developing the next generation of business leaders by mentoring, coaching and facilitating training and workshops to sharpen their skill sets and transfer of knowledge.

Personal Mission Statement – this exercise strengthens my conviction to be a good Christian and Father to my children. Since I am already a Dad, I always believe that one of my most important missions is to prepare my kids to succeed in life, give them a comfortable life and give back to community by uplifting the lives of others through charitable work and social volunteering.

Life Goals – doing this activity helps me clarifies my priorities in life. The list that I had produced will serve as my guide whenever confronted with difficult decision in my prioritization. As we traverse through this journey, we will deal with situations that will test and confuse us. If we are aware of our priorities in life we will not be lost and will always be on track. Losing direction will impact us greatly because it will waste our valuable time and worst it will destroy our path and might end up feeling loser because you were not able to accomplish the goals that you have set.

Timeline – The exercise also assists me in creating a timeline to achieve the objectives. Knowing the time it will take to get you there allows you to plan how to get there. What are the things that you need to do? What resources do you need? Would you need a new skill to get there? All these things will and should be uncovered. The assignment also revealed to me that there are also other things that I need to plan such as physical, social responsibility and artistic which are equally important as family, career, and education and financial. By knowing what you want to achieve and when do you plan to accomplish it gives you the feeling of excitement and determination to make this plan a reality.

Financial Planning Worksheet – This is a very helpful activity to me because it focuses on the action plans that I need to do in order achieve my plans. The first row is all about increasing your income, what are the things that you have to do to raise your income. The next row is decreasing living expenses; these are not critical items that you can live without. My personal goals include lessing restaurant dine-in, decreasing clothing expenses, recurring unutilized utilities, e.g., cable and telephone landline, educing Starbucks coffee intake, and conserving energy by unplugging appliances before leaving the house.

An enlightening experience

The exercise will also ask you to think and identify the things that you need to do to decrease indebtedness; referrals and training’s that you need to realize your plan. Lastly, you will also have to identify your short and long term financial plan.

Overall, it was an enlightening experience to plan for your life for the next twenty five years. I had goose bumps after I finished my twenty five life plan!

The author is an MBA student at the Ramon V. del Rosario College of Business. This essay is part of a journal he keeps in fulfillment of the requirements of the course, Lasallian Business Leadership with Corporate Social Responsibility and Ethics.  Visit his blog at http://terrencetanroque.blogspot.com/.

The views expressed here are the author’s and do not necessarily reflect the official position of DLSU, its faculty, and its administrators.

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