Search
Advice » Salary & Benefits» Salary Information » Make Major-League Financial ...
Make Major-League Financial Plays with Minor Hits

Make Major-League Financial Plays with Minor Hits

Baseball fans love to see what a big hitter might unleash at bat. Babe Ruth, the Great Bambino, won an astounding seven World Series rings with the Boston Red Sox and New York Yankees. He had a career slugging percentage of .690. The home-run race in 1998 between Mark McGwire and Sammy Sosa caught the attention of every kid with grass-stained knees. So you might ask, what makes a world-class hitter? Ted Williams said that the key “was the right swing, studying the pitchers, studying the situations, waiting to get your pitch, and just plain working like hell at it.”  

Focus, strategy and discipline are the same fundamentals behind growing your wealth. And it all starts with getting to know the best money coach on the field: You. You’re the only one who can prioritize your goals, build the playbook that works for you and, ultimately, deliver the hits.

First: Think About What You Want

The temptation, like mighty Casey, is to put everything you’ve got behind the swing and let it rip. But sadly, most of us don’t make the connection, and we end up out of the game before we know it. Before you get up to bat, know what you want to do. Is it to earn enough money for retirement, go back to school or buy a house? Write it down. You are 10 times more likely to accomplish a goal if you write it down than if you don’t, according to Shad Helmstetter in Who Are You Really and What Do You Want? Also, defining your goal will help determine your timeline and the options that make the most sense.

Second: Determine Your Strategy

With your goal in mind, plan how you’re going to save the money you need. If your goal is to put away $1,300 so you can head to Florida with your buddies for spring training next year, you’re probably going to want to put the cash you set aside into a stable, interest-bearing account like a money market. If it’s to save for retirement 30 years from now, you’ll want to consider a more aggressive investment of stocks and bonds. Scan the field, process the information and make the call.

Third: Put Your Plan and Strategy into Action

Like any good hitter, you know what you want to do at bat and where to hit the ball. Now you have to summon the skill and strength to do it. If you’ve sworn off coffee and a muffin at Starbucks every morning to save the extra $110 you need each month to get to Fort Myers, you need to summon a dose of personal discipline. But each day you do it will make the next day that much easier.

Last: Score the Run

Board that plane to the Sunshine State and say good-bye to a week of cold weather and endless March Madness hype. Experiencing the reward of your achievement will give you the energy you need to accomplish your next set of goals. Like any batter on a hot streak, it takes only one hit to start it off.

[Paul Wilcox is at work on The Sports Guy’s Guide to Money: Winning Strategies for Your Hard-Earned Cash. He previously published a magazine on careers and money for young professionals.]

Articles in This Feature:

Latest Jobs

Ardent Hospice
Posted: 09/16/2014
Flower Mound, TX, 75028
ContractStaffingRecruiters.com
Posted: 09/16/2014
New York, NY, 10004
EQM Incorporated
Posted: 09/16/2014
New York, NY, 10007
Driver Placement
Posted: 09/16/2014
Johnson Creek, WI, 53038
ContractStaffingRecruiters.com
Posted: 09/16/2014
New York, NY, 10004

Want more personalized results?  Update Your Profile

 
 
 

Monster Communities

Teaching Community
Where teachers meet and learn.
ArtBistro
Create and connect.
Excelle
Networking for the career-minded woman.
Nursing Link
Where nurses call the shots.
More Monster Communities

Monster Partners

Scholarships
Scholarships, financial aid and more ways to pay for school.
Education.org
Find top campus and online degree programs.
Military.com
Military portal for the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Financial Aid
Scholarships & financial aid.
Staffing for Government Jobs
Staffing and hiring solutions for federal government agency jobs.
More Monster Partners

Job Hunt Strategy

Six Ways to Make a Recruiter Hate You
If you want to blow your chances with recruiters -- and, by extension, with the companies they work for -- here are six perfect ways to do so.

Resumes & Cover Letters

Rev Up Your Resume to Relocate
Hoping to relocate? Get the ball rolling on landing the right job in the right location with these expert resume and cover letter tips.

Interviewing

100 Potential Interview Questions
Interview questions can run the gamut. You probably won't face all 100 of these, but you should still be prepared to answer at least some of them.

Salary & Benefits

10 Questions to Ask When Negotiating Salary
Most of us aren't natural negotiators, but asking these 10 questions during salary negotiations can help you get everything you deserve.

Employee Sourcing

Alt text
November Monster Employment Index Grows 13% Year-Over-Year, Tenth Consecutive Month of Positive Annual Growth.

For Seekers

Campus and Online Degrees
Advance your career and earn more with an online degree.
Free Salary Wizard
What are you worth? Find out and negotiate a better salary.
Research Careers
Get information on jobs and career paths to help guide your choices
Questions & Answers
Find answers to all your career related questions -- powered by Yahoo! Answers
Resume Distribution Service
Our distribution service puts your resume right in the hands of recruiters.
Resume Writing Services
Our experts will craft a keyword-rich resume that stands out in the crowd.
More Career Resources

For Employers

Career Ad Network
Target your job posting to more candidates on thousands of websites.
Hire Right Background Checks
Explore our background check packages to improve the quality of your hires.
Hiring Home Page
Find the best candidates for your business with Monster hiring solutions.
Job Postings
Find the right solution for your hiring needs. Starting at $99.
Power Resume Search
Monster's new search technology precisely matches people with your jobs.
Resource Center
Find staffing insights, labor trends, HR best practices and more.
Target Post
Connect with skilled, hourly and administrative candidates for only $99.

Social Media

Jobs on Twitter
Find jobs in your area and industry.
Monster Careers
Tune into our career advice and discussions tackling a wide range of topics and industries.
Monster Corporate & PR
Stay up-to-date on the latest news. Get the 'Who', 'What', 'When', and 'Why' on all things Monster related.
Monster Customer Service
Got a Monster question? We've got the answer. Whether you're a job seeker or employer, we can help you find the answers you need.
Monster for Employers
Find advice on hiring.
Follow Us
Check out our many pages and stay connected with the latest industry news, events, career advice and job openings.

Other Links

Monster Company Profiles
Explore companies and get information to guide your career decisions.
Compare Salaries
See how your pay stacks up to others in your field.
iPhone Application
Download the Monster app for iPhone and iPod touch.
Monster Job Seeker Blog
Monster Job Seeker Blog.
Monster Thinking Blog
Monster's Recruitment Trends Blog.
Jobs & Career Resources
Search Jobs:
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.4.50.56-319
eTrustLogo