New Year… New You or Old You?

Welcome to 2023. Here is to hopefully a better year than 2022 in which markets plummeted, interest rates skyrocketed, and we saw a war in Ukraine.

If you are like most people you are committed to the New Year’s resolution you have made for yourself.

Unfortunately, your 2023 goal will be gone by Super Bowl Sunday in February if you are like most people.

In fact, roughly 80% of people will have failed their New Year’s goal by February.

So how do you make sure you aren’t in that 80%?

You have to be smart.

No not IQ smart, but SMART.

If you haven’t heard of the acronym SMART, let me quickly explain.

Specific: The goal should be specific and easily understood without confusion.

Measurable: The goal should allow you to track your progress.

Achievable: The goal needs to be realistic.

Relevant: The goal should be related to your overarching values, dreams, and ambitions.

Time-bound: The goal should have a set target date of completion.

A SMART goal incorporates all of these criteria to help focus your efforts and increase the chances of achieving your goal.

A recent poll by Statista below shows the most common New Year’s resolutions for 2023.

No alt text provided for this image

Given that 39% of people want to save money, 37% want to spend more time with family/friends, and 19% want to reduce the stress of the job, we figured we could give you a SMART example of how to achieve those goals.

The answer is a SMART goal involving Real Estate.

Here is an example that could help solve all 3 goals listed above.

Specific: Be financially free within 5 years so that I can retire from my job and live life on my own terms with the people that I love.

Measurable: I will need to replace 100% of my current income earned from my job with 100% passive income.

Attainable: I have $1M currently saved up for investing, if I invest that $1M today and follow the historical private real estate returns of doubling my money every 5 years then my $1M will be $2M in 5 years.

At that point, I can choose to:


  1. Reinvest the entire $2M and live off estimated cash on cash returns of 7%-10%.
  2. Reinvest some of the $2M and keep the rest to apply toward my living expenses.
  3. Do whatever I want.


Relevant: I have always said that my relationships with my friends and family were most important to me, but for the last 20 years those relationships have had to be put on hold while I worked my job to keep money coming in.

Time Bound: I will start investing today, in deals that offer at least a 1.8x equity multiple and 15% IRR. I will continue to do this until I have diversified my $1M of investments across projects that meet these criteria. Then I will track the performance of these investments to see if I can retire earlier than my 5-year target.

Now, this is just an example, but hopefully it gives you an idea on how you can achieve both your short and long-term goals.

If you want to see how we can help you achieve your goals, then schedule some time with us at your earliest convenience.

Good luck and Cheers to the NEW you in this year ahead.

Please follow and like us: