How To Set Financial and Retirement Goals

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Today’s Question:

Are you setting realistic and achievable financial goals? How do you stick to your financial goals? Let’s discuss the steps you can take to set up goals for your retirement.

Click on the timestamps below to jump to specific topics. 

Confidence Corner

When it comes to financial goals, are you creating a realistic list of goals and a plan to follow through? Or are you hoping for a best-case-scenario to pull it all off? How do you know what kind of goals to set? On today’s episode of the Financial Answer podcast, Nathan will talk us through how and why your retirement plan should include appropriate financial goals.

Goals are important and help you get where you want to go. Good things and bad things will always happen in the world. Setting goals will help you stay disciplined and understand what you’re trying to accomplish.

When you set a financial plan, you want to be sure to walk away with peace of mind and confidence in your plan. Why is your advisor putting you in certain funds or implementing particular strategies? Ask questions because this is your financial future.

Past what your goals are, figure out why you want to accomplish these goals. What’s the reason behind things like wanting to leave your kids an inheritance or making more money. Setting goals can help you define what’s really important to you. Everyone is different, so it’s valuable to sit down with your advisor to outline why you’re working toward these goals.

Then, what kind of goals are you setting? Are they unrealistic? What are your expectations? Make sure to manage your risk and acknowledge that there may be declines over time. Work on your plan with your advisor and make sure you aren’t relying on a best-case-scenario. Every product has some kind of downfall, so be aware of what fits best for you.

Listen to the full episode or click on the timestamp below for a specific segment regarding financial goals.

[2:01] – What are goals that everyone should be shooting for?

[5:55] – How do you determine specific goals?

[9:44] – Are you setting unrealistic goals?

[11:50] – How do you reframe unrealistic goals?

[12:43] – The person you work with impacts the kinds of goals you set.



A Point Of Wisdom:


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