What are your short-term goals? What are your long-term goals?
When you read these questions in a wealth firm’s quarterly newsletter, it’s natural for your mind to immediately jump to financially focused or investment focused goals. For the purposes of this exercise, I would ask you to step back and think broadly about your goals for yourself and your family.
Do you want to travel with your family? Visit new places? Buy a new car? Play more golf? Establish a financial plan?
Instead of setting a goal of “traveling with your family,” what if your goal was to travel to see your grandchildren once a month? Let’s not just “visit new places,” let’s visit a new national park every year. Buy a car in a few years, or buy that dream all-black Ford F-150 in 3 years (option 2 is more fun to track in my opinion!). Is your goal to just play more golf, or become a member of your favorite country club before you retire? Finally, establish a financial plan, or do you want to be financially independent by age 60?
Goals are meant to motivate you. Goals are meant to be measured. Completed goals are meant to be celebrated! And we are so glad to be part of this process with you!
Turning your goals from vague to visionary produces action, and well-defined goals act as a north star when it comes to decision making for your financial plan. Wealth planning is not just about managing money. Helping define what success looks like for you and your family is one of our favorite parts of the planning process because it is so meaningful – and different – to everyone!
The World is Your Oyster