I’m a strong believer in goal setting. The first recollection I have of being introduced to the idea of goal setting was at the end of my freshman year of high school. My high school soccer coach challenged each member of the soccer team to write down personal goals for the upcoming fall season as well as goals for our high school soccer career. I don’t remember specifically what I wrote down, but I do know that I achieved those goals.
Why is goal setting an important step in accomplishing something? Think about it in the context of driving a car to an unfamiliar place without a map or GPS. It’s really hard to get somewhere if you haven’t first determined where you want to go. You’ll probably never stumble upon a place you want to visit without first determining the location of your destination and creating a plan to get there.
What are the key elements of setting goals and creating a plan to achieve those goals?
- Write down your goals. There is a significant amount of research suggesting that people who put their goals in writing are much more likely to achieve them than people who don’t.
- Make your goals SMART, which stands for Specific, Measurable, Attainable, Realistic, and Time-sensitive. If our goals are missing any of these components, it is doubtful we would achieve them or even know if we did or did not reach our desired outcome.
- Create a plan. It is important that we create a list of action steps for each of our goals. What changes are you going to make to your routine or behaviors that will lead you to your desired outcome? This list of action steps becomes your road map.
- Invite someone else to journey with you. Your chances of success are far greater when you have someone else to accompany you. That person can cheer you on or perhaps give you a kick in the pants if you need that. Certainly, when you accomplish your goals, you have someone genuinely excited to celebrate your success with you.
Our Core Financial Planning Services are designed to help you set financial goals and create a plan that leads you as you pursue those financial goals. Our planning process utilizes each of the previously mentioned key elements. The financial planning team at Master’s is eager to ride along on this journey and celebrate with you when you arrive at your desired destination. Please let us know if you would like to learn more about our Core Financial Planning Services.