I was challenged recently by a quote that has been ringing in my head ever since. Perhaps it stuck with me because it first seemed to contradict my own conviction—that the missing ingredient in most financial plans is thoughtful intention, bringing a greater sense of purpose to our planning—but I now see the quote more as complementary than contradictory.
Let’s wrestle with this momentarily and see if we can arrive at an actionable a-hah:
“Direction, not intention, determines our destination.”
The quote, attributed to author Andy Stanley in his book “The Principle of the Path,” has immediate implications for our financial planning for this reason: Intention without action accomplishes nothing. While action without intention may amount to less than is possible, intention without action amounts to zero.
Furthermore, the best indicator of our future action is our track record to date—our direction. The temptation in our aspirational age may be to resist such a notion or even label it defeatist, but didn’t Sir Isaac Newton lay this one to rest in 1687, when he concluded, “An object at rest stays at rest and an object in motion stays in motion…”?
But fortunately, that’s not the end of the natural law, because our direction can be shifted when “acted upon by an unbalanced force,” and we can be that very force. If we choose to act.
I wonder if it’s possible that the social media age may have created an imbalance, where we’re inclined to over-celebrate intentions, hopes, and dreams even before they’ve been realized, where we applaud the form even if it has yet to function, where the aesthetic is praised above the practical?
To be clear, our intentions aren’t worthless. Peter Gollwitzer, the New York University social psychologist, points out with his work on Implementation Intentions, that we can use our intentions as a training ground for future positive actions with thought patterns like, “Whenever situation x arises, I will initiate the goal-directed response y.”
UCLA professor and author, Hal Hershfield, also demonstrates in his book, “Your Future Self,” that we may better plan for the future—and act on those plans—when we use our vivid imaginations to envision that ideal future.
So our intentions are useful, but only to the degree that they lead to a change in direction.
What can it look like, then, when our intentions and actions are aligned? It can be nothing short of world-changing, according to Joel A. Barker, the originator of the now-colloquial “paradigm shift,” who said, “Vision without action is merely a dream. Action without vision just passes the time. Vision with action can change the world.”
Can you think of an intention in your financial life that is in contrast with your direction—your current and past pattern of behavior?
Choose only one for the moment, because sometimes it is the combination of competing motivations that lands us in a place of paralysis. What is one of those things you’ve been saying, “I’m going to…” that hasn’t gone anywhere?
We’re tempted to believe in the triad depicted below that successful implementation of our success pursuits is linear—beginning with the right attitude, followed by the mastery of a particular technique, that is then followed by the desired action:
The BAT Success Triangle
But that is incorrect. Every successful pursuit begins with action—our behavior—an action that, when repeated, reshapes our attitude and refines our technique.
So, what is that intention:
- Saving more
- Spending less
- Asking for help
- Buying life insurance
- Updating estate planning documents
- Reevaluating or reallocating your portfolio
And what is the very next action that is designed to redirect your current direction to a pattern of behavior that is worthy of your best intentions?