How are you doing with your New Year’s resolutions from just a few weeks ago?

Often the goals we set at the beginning of a year are ambitious, but then they fall by the wayside. In a recent Wall Street Journal article, Ron Shaich, billionaire entrepreneur and investor, offered a more practical alternative: the “premortem.” Each year, Shaich reflects on his life by asking, “What can I do in the next three to five years that I will respect looking back from my deathbed?” This practice helps him set meaningful goals and live with intention.

Why a Premortem?

Unlike the often-suggested exercise of writing your own obituary, a premortem is far more practical. Instead of imagining your entire life from the end, it helps you focus on actionable steps you can take now to shape the new few years.

Shaich’s ritual stems from a lesson he learned after losing his parents. His mother’s peace with her life contrasted with his father’s regret over experiences he missed and life goals he did not accomplish. This taught him the importance of evaluating his life early and often—not at the end.

“The time to review your life isn’t in the ninth inning with two outs.” Shaich says. “It’s in the third, fifth, and seventh innings.”

Instead of fleeting resolutions, here are some simple steps to use the concept of a premortem to reflect deeply and set purposeful goals. Most important though – make it your own.  Something that’s actionable that you’ll come back to.

Step 1: Reflect Quietly

Find a time and place to think without interruptions. Reflect on your values, relationships, health, and personal growth.

Step 2: Ask the Big Question

Ask yourself: “What can I do in the next three to five years that I will respect looking back from my deathbed?” This focuses your goals on what truly matters.

Step 3: Divide Your Life

Organize your goals into key areas:

Health: Improve fitness, diet, or mental well-being.

Relationships: Strengthen connections with family, friends, and community.

Work: Advance your career, learn new skills, or set boundaries.

Personal Growth: Explore hobbies, spirituality, or lifelong learning.

Step 4: Write It Down

List specific, actionable goals for each area. Include both small daily habits and larger milestones.

Step 5: Check In Quarterly

Review your progress every three months. Adjust your actions as needed to stay aligned with your vision.

Example Premortem Goals

Health: Exercise five days a week, eat more vegetables.

Relationships: Call family weekly, plan monthly friend gatherings.

Work: Take a professional course, mentor a colleague.

Personal Growth: Read one book per month, learn a new hobby.

By adopting a premortem practice, you can live a more intentional and fulfilling life, and most likely one with fewer regrets.