1. Clarity
Stop for a second and ask yourself, ‘what are my most important goals in life?’ Think big picture, beyond those mundane, short-term goals that may first come to mind. Goals such as quit smoking, lose 5 kilograms or pay off my credit card are admirable objectives however they do not encapsulate the spirit of a truly important goal.
An important life goal is one that genuinely excites and inspires you and will be different for everyone. Examples could include:
• Share unforgettable experiences with the people I care about most
• Support my children to help them achieve their dreams
• Stay true to my values and beliefs throughout life
2. Insight
Before you start the journey towards your important life goals, you need to understand where you are now. A large part of this is building an understanding of your financial situation, as more often than not, your goals will be strongly connected to your finances.
3. Action
Once your most important goals are understood, you can develop ‘mini-goals’ which support the main goal, as explained in the case study below.
Putting time aside to figure out your important and mini goals is unquestionably a meaningful activity as it ensures you direct energy and time into areas that will bring the highest levels of personal fulfilment. Aligning your mini and important goals appropriately will increase your likelihood of succeeding however this is often difficult to achieve on your own. Your financial adviser can help you in many ways, from assisting with your goal setting, to reviewing your current situation, to creating a long term plan for you to work towards achieving those goals.
CASE STUDY
Judy is a 47-year-old nurse who lives in Sydney. She wishes to secure a strong financial position for herself in the long term and has sought the advice of a Financial Adviser.
After working with Judy to define her values, together they came up with the following important goals and mini goals to set her up for success.
Important Goal #1: Be independent now and into retirement
o Mini Goals:
– Review personal insurance to protect income in case of accident/illness
– Pay off mortgage by age 65
Important Goal #2: Live life to the fullest and have adventures
o Mini Goals:
– Start a holiday savings plan
– Organise a trip to the Himalayas in 2016
– Travel overseas once per year
– Be present in my niece’s life and visit her and my sister in Sydney every 6 months
With this plan, Judy knows what achievement means to her and where she needs to go from here to reach her long term goals. Should her life change, she can view the changes in light of her goals and values, then make the necessary changes to her plan to ensure she doesn’t stray from success.
‘Satisfaction and personal fulfilment exists in the space between understanding the life that we are truly seeking and the journey towards it’. Make 2016 a year of positive change. Speak to your Altitude Financial Adviser today and they will make it their mission to see you succeed.
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