Before the new year begins, block off time to think about your life. Shift your focus from doing things for others to doing things for you. It’s time to refocus on y-o-u.
Reminisce on the high points of the year. Identify events, people, and things that brought you joy.
Use the 5 P’s of Life to probe into what you’d like to tackle for the upcoming year.
The 5 P’s of Life include personal relationships, personal finance, profession, peace of mind, and physical health.
For each category, identify what you want to keep the same and what you’d like to do differently. For the items you’d like to change, develop a solution.
Here are some examples to spark your thoughts. Also, look through our blog posts for more ideas.
Personal Relationships (experiences and things you want to provide for
your family and friends):
Do you want to strengthen your relationship with certain family members or friends?
If yes, list activities you’d like to do with that person(s) to strengthen the relationship.
Personal Finance (how you envision your financial management and
saving for large purchases):
If you were to lose your job, would you be able to cover your expenses until you found a new job?
If no, create a plan to build your emergency reserve.
Profession (how you generate income):
Do you feel stuck in a dead-end job?
If yes, identify professional organizations you can join to expand your network and industry knowledge.
Peace of Mind (what you do to strengthen your mental health – stress management, self-worth, volunteering, spirituality, etc.):
Does stress impede your motivation?
If yes, explore ways to manage your stress. Sign up for a meditation class.
Physical Health (what you do to keep your body strong and healthy):
Are your clothes becoming uncomfortably snug?
If yes, develop a plan to live a healthy lifestyle with more activity and less unprocessed foods.
In today’s world, we seem to be going nonstop, especially at the end of the year.
There’s a holiday each month — Halloween, Thanksgiving, Hanukkah, Christmas, and New Year’s Eve.
Scheduling time to reflect on life by using the 5 P’s of Life will help you refocus on yourself … and make 2025 your best year ever.
(Update to original post from December 27, 2018)
ABOUT THE AUTHOR:
Niv Persaud, CFP®, CDFA®, RICP®, is a Managing Director at Transition Planning & Guidance, LLC. Life is more than money. It’s about living the lifestyle you want and can afford. For that reason, Niv consults with clients on money, life, and work. Her approach capitalizes on techniques she learned throughout her career, including as a management consultant, executive recruiter, and financial advisor. Her services include developing comprehensive financial plans, divorce financial reviews, and retirement plans. Niv actively gives back to her community through her volunteer efforts. She believes in living life to the fullest by cherishing friendships, enjoying the beauty of nature and laughing often — even at herself. Her favorite quote is by Erma Bombeck, “When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left and could say ‘I used everything you gave me.’”