Autoplay Next video from Max length

The 5 Why Test (WHW #23)

2,263 views · Published 24 October 2018 · 4:21 · Indexed 5 October 2026

Channel: Wealth Hacker - Jeff Rose · 2018 · People & Blogs

Why ask why??

Here's why...

Let’s see if this sounds familiar - you’ve got a goal that you want to accomplish - you write it on your to-do list, you put it on your vision board, etc. But you can’t get there.

You get close, but then you get derailed and get unmotivated and you just push it off.

This happens more than you know. I run into so many people struggling with whatever goal that they are working on, losing weight, getting out of debt, etc.

One thing I’ve noticed with myself, with clients, and from things that I’ve read, when you have a goal you have to understand the importance of that goal.

You may have a target date, the specifics of the goal, etc. but if you don’t know the ‘why’ behind the goal? Why is this goal so important for you to accomplish?

Many people do not take the time to look at this. Sometimes we just do things to feel good for getting things accomplished.

One of the best discussions I’ve heard on this top was in a book by Simon Sinek - Start With Why. He also has a talk on TedX. He talks about big corporations and the objective they have behind their goals. You can apply the same things to yourself.

I had a client that came to me with a goal to retire at the age of 50 with 2 Million dollars. That is an awesome goal right? There are a lot of things that have to happen to make that goal a reality. There is a lot of work and a lot of sacrifices that have to happen.

We do the 5 Why test.

Why do you want to retire at 50?
Why that amount?
Why do you think that is how much you need in retirement?

You just keep peeling back the layers. You may be able to get there with 3 Why’s, but the deeper you go the better your motivation. Once you identify that deeper core meaning that goal becomes more realistic and you are willing to do more to get it done.

▶ Check out my gear on Kit: https://kit.com/jeffrosecfp

★☆★ Want More Good Financial Cents? ★☆★

💻 Check out my blog here: https://www.goodfinancialcents.com/

Listen to my podcast here:

🎙 https://itunes.apple.com/us/podcast/good-financial-cents-podcast-investing-building-wealth/id775107294?mt=2

Pick up my best selling book, Soldier of Finance, here:

📗 http://amzn.to/2xOH78V

Connect with me on Twitter:

https://twitter.com/jjeffrose

My most favorite inspiration T-shirt line, Compete Every Day:

👕 https://www.goodfinancialcents.com/compete