It’s true, you would have to live under a rock to not recognize the name Elon Musk these days. Musk and his brainchild company, Tesla, have become household names when it comes to energy-efficient, luxury automobiles. It seems that just a few short years ago even the idea of driving an “all-electric” car seemed out of reach, but Musk is clearly a visionary with the will to succeed.
Once again we stand at the precipice of yet another breakthrough in the world of transportation.
On July 20th, Musk’s “Boring Company” received the verbal OK from the federal government to build the first New York to Washington D.C. “hyperloop”, a form of transportation designed to move people between these two cities in as little as 29 minutes! The future is here…almost. Click here to read more about the Tesla "hyperloop".
While Mr. Musk is clearly a visionary helping to propel us all into the Year 2100 and beyond, he always starts with a plan. In fact, he has an impressive master business plan for Tesla and all his other companies. Do some of his plans experience setbacks along the way? Of course they do. Remember his SpaceX rocket explosion last year? But instead of admitting defeat, he goes back to the “drawing board” to make adjustments and keeps moving forward.
That mode of operation is a great lesson for all of us, especially when it comes to our own financial planning. No matter how “visionary” you might be for your own life, you will have a much better chance of success if you start with a plan to get you there. And if you happen to experience a few “hiccups” along the way (e.g. bear markets), you will still have a much better chance of succeeding if you adjust your plan - with the help of a good financial planner – and move forward.
If you feel it’s time to get started putting your “vision” for the future down “on paper,” please give our offices a call!