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  • Writer's picture Treavor Dodsworth CFP®, CPA, CKA®

#9 - Journey To Something Great

For those of you who have started a business or ministry, I am sure you can attest this graphic is a perfect illustration of the emotional journey that occurs. For me, it has happened multiple times since Sycomore began. If I am being honest, I must admit this journey has occurred all within one day's time. I believe this graphic can apply to many aspects of financial planning as well. Whether it is choosing to invest some of your hard-earned cash or if it is deciding to pay off those loans that have been hanging over your head. Let’s apply it to the latter case. When you start, you envision the finish line, no more ongoing debt payments, no more “being enslaved to the lender.” “This is the best idea ever!!” You make a plan to cut expenses here, make a little more income there, to generate the cash flow that can be used to attack this debt. But then it starts taking a little longer than you expected. It also ends up being a lot more work than expected. You have the option of being stuck in the dark swamp of despair or of pushing forward. If you push forward, you can start experiencing the upward slope, once again believing it is possible. Then one day, you make the final payment and you are free. Per the graphic, “the emotional journey is inevitable and perhaps necessary.” Great things are difficult. Recognizing that the emotional journey will happen before you start can help you persevere to the end. John Saddington posted this graphic on his website


Interesting Article(s) Student Loan Planner - This IDR Form Change Could Save You a Ton of Money

  • If you are on an income-driven repayment plan for student loans, you will recognize this pesky little question. “Has your income significantly changed since you filed your last federal income tax return?” The ambiguity of “significantly changed” caused much debate. Very few wanted to report higher income as it would result in higher debt payments. This question has been changed though to “Has your income significantly decreased since you filed your last federal income tax return?” This is a seemingly small change that could have big implications for people on an income-driven repayment plan.

  • The pricing war among custodians is continuing as several institutions entirely remove some of their trading commissions. As many of you know, fees and expenses are something that can slowly eat into an investor’s rate of return. Therefore, news on expense changes always catch my eye.


Thank you for reading! Have you experienced this emotional journey in the pursuit of something great? Did you push through the “dark swamp of despair?”


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