Step 7 – Build Your Dream Basket
To most of us, letting our biggest dreams go is a part of growing up. Dreams are big, hence they usually cost big – and as many people realize that they don’t have the money to fund these dreams, they leave them as distant memories and “what ifs”…
Then there are others who continue to dream – and are willing to wager that there dreams will come true. Out of the countless lottery and gaming venues, you can spend only a dollar or two in the hopes of winning a jackpot – but is this really going to get you to your dream faster? Probably only for the few individuals that actually win…
Bach begins by helping the reader dream again. Along with your newly developed Retirement Basket and Security Basket, it’s time to have some fun and put together your Dream Basket… Following similar guidelines to the previous exercises, Bach encourages tackling your biggest dreams to make them come true.
Once you have identified your long lost hopes and dreams, Bach outlines how to bring these to reality using simple investing techniques based on how much time you have available to do so.
I really had a lot of fun with this chapter as most readers probably would. I was finally able to spell out what I would truly love to accomplish in my life – something I normally try not to think about due to my current finances; but letting these dreams collect dust doesn’t make me happy either.
Overall, the concept of the three essential baskets is sound advice; covering your retirement, security and dreams are very important. Bach gives great investment strategies to get all of your baskets full, but as an individual you must be disciplined in following through with the tasks you set out for yourself. Most of these techniques are lifetime decisions, so be ready to commit to something big. And if you are, then you’re already a step ahead of most of us.
I must admit this basket is going to be the most difficult to fill. Most of my dreams will cost hundreds of thousands of dollars let alone my husbands and our combined dreams would cost; so I’m skeptical as to whether or not I will actually be able to achieve them without robbing a bank first…
Here’s a few from our lists:
Learn how to fly a plane
Attend the New York Fashion Show
Have a hobby farm
Publish a book
Travel the world