Ever hear someone say “My mission in life is to….” and then insert whatever crazy dream they have at the moment? Some people have those daydreams of wanting to pay for their children’s college education, or save for their first car, maybe pay for a wedding. Few take action to actually get there. The tornado of daily life often gets in the way, as we all have a million things vying for our attention, time and resources. So how do you meet the objectives of your mission to make those daydreams reality?
Like anything else, it is going to take action. Now that may sound scary, but it doesn’t have to be MASSIVE action. The biggest results happen from small daily habits you change. Have you heard the “give up your morning coffee and save $300 a month” phrase that gets tossed around when people talk about budgeting? The bigger idea behind that is choosing where your money goes in a conscious way. It isn’t saying give up things you love just to save money. That scenario is an example of spending that can often be unconscious because we have programmed ourselves to that habit. Think of it as muscle memory. Repetitive tasks like taking apart your weapon or rebuilding a component to a plane done enough times means you could do it blindfolded, right? The morning coffee is spending memory. You become so accustomed to doing it that the small daily action (and associated price tag) don’t even register as anything unusual or even possibly unnecessary. How do you change that?The process is easy, work backwards. Just like the military will start a training exercise or a briefing with the goal in mind, you have to know the end result before you begin. What is your goal overall? Do you want to have $30,000 saved for college education for your oldest in 8 years? Do you want to have $35,000 to get that new car you have had your eye on? You will need a dollar amount and a timeline for this to really be effective. Let’s use the example of $30,000 in 8 years for college. The annual returns for investing can vary greatly depending on your risk tolerances and type of investment, but let’s use 8 year hold time for the Mission First Capital Growth Fund for a return. We have projected returns of 100% for our 8 year hold time. That means if you invest $15,000 now you will get $30,000 back in 8 years.
Now you might be thinking, “Sure like I have $15,000 just laying around to invest. You just said this didn’t require massive action! That much money sounds like massive action.” Now enter the power of habit! With Mission First Capital, our minimum is only $5,000. In addition, because we are a fund, you can invest multiple times over the year, not just once! $5000 is roughly $400 a month. Could you set aside $400 for you child’s future college for awhile? If you think of that pot of money with the goal in mind, it becomes easier to give that money a job when you receive it in your paycheck. Now that could easily be not having lunch out every single day, and that’s $400 a month. You are now making the conscious decision that you will take lunch because you are saving $400 a month to invest in your child’s college education later in life. It’s not giving up lunches out, it is saving for a big goal, for YOUR MISSION. Eventually, that action becomes habit. You think nothing of having to pack a lunch, much less of the $400 you are saving for investing each month. Add up all those small charges you get hit with every month. Think of those apps that are $5 a month, maybe that subscription you hardly use or never use that is $19.99 a month. All those small things add up! Taking a few moments to go through the process to cancel them saves you money for things you may not even be using!
So let’s talk about your mission? What do you want to gain in the future that feels unreachable right now? Did you know you can reach out to us and talk about how to develop a strategy to reach that mission?
You can text us or call us at 844-MFC-FUND. You can also join us on our Facebook group at https://www.facebook.com/groups/missionfirstcapital. Join hundreds of others that are taking small steps towards their own missions to make a difference in their financial lives.