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This year, I have a new motto: “Overestimate Your Future, Underestimate Your Past.” In this blog, I’ll explain how I get back on track and deal with past failures.

Josh Klinger, J.D., AAMS®

Josh Klinger, JD, AAMS® is a Wealth Advisor at TVAMP. He believes that wealth isn’t a privilege; Individuals and families must make consistent, conscientious financial decisions and exercise patience. He is actively involved in the community and enjoys working out.

Last year around this time I wrote a motivating blog about New Year’s Resolutions and urging everyone to be in the small minority who didn’t quit their resolutions by February. This year, I’ve got a slightly different take: Treat each new day like you do the new year. As the sun rises each morning, learn to let it also reset your mind.

How To

Instead of being critical of what we haven’t accomplished, try using my new motto: “Overestimate your future, underestimate your past.” 2019 wasn’t your best year? Last month you didn’t stick to your new budget? Yesterday you went way over on your macros? Guess what, that’s in the past and there is no way of changing it. Failure doesn’t mean you can’t have successes tomorrow, next month, or next year.  Reflect, let it go, and get back on track right now.

How to “Overestimate your future:”

  • Dream big and don’t brag (What do you really want?)
  • Take action
  • Believe in yourself
  • Start fresh each day

How to “Underestimate your past:”

  • See failures as lessons/opportunities (What did you learn?)
  • Don’t punish yourself
  • Don’t dwell (Rule of thumb: If it’s not going to matter in 5 years, don’t spend more than 5 minutes being upset about it)
  • Be determined to keep going

Lessons from Kobe Bryant

I, like many others in the world was and continue to be a huge Kobe Bryant fan. If I’ve learned anything over the sudden, tragic, and unexpected passing of one of the greatest basketball players of all time, it’s that life if short. Tomorrow is never promised.  The past can’t be changed but it can be mended. Lose the past grudges, past negativity, and past failures. Kobe Bryant’s secret to his success was simple. He attacked every day, task at hand and defender like there was no tomorrow. Kobe once said, “Everything negative – pressure, challenges, — is all an opportunity for me to rise. Once you know what failure feels like, determination chases success.”

To summarize, if you can’t change it, learn from it and move on. Be real and genuine, work hard and make 2020 your best year yet.

RIP Kobe, Gianna, Payton Chester, Sarah Chester, Alyssa Altobelli,  Keri Altobelli,  John Altobelli, Christina Mauser, and the helicopter’s pilot, Ara Zobayan.

From CNN

Market Update

Speaking of overestimating, the domestic stock market outperformed most expectations in 2019. For the year, the S&P 500 was up over 29%, it’s best performance since 2013. Our advice to stay the course following the abysmal fourth quarter of 2018 proved prudent. We believe 2020 shows continued strength for domestic stocks. Corporate earnings remain solid, a trade deal at least in part seems imminent and rates remain manageable. These factors lead us to continue our optimistic outlook for domestic stocks in 2020. Although optimistic there will be moments of volatility as Washington handles the latest Trump impeachment news, tensions escalate overseas and the political battle for the presidency heats up. We’ve seen this volatility already in 2020 with the outbreak of the Corona Virus overseas. We will continue to monitor these fluid situations and adjust allocations as necessary.

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