All right, this part will be fun. Sit back and envision your dream. The first step to financial planning is knowing where you are going. Determine your goals. On this website, we have articles describing a step by step plan on how to reach your goals. But what are they?
For most people, their goals are about finding happiness for themselves and others close to them, family and friends. However, everyone’s idea of happiness is different. Society has evolved into rising consumerism. The more wealth we create, the more “things” we want. There is nothing wrong to admitting this. For many people “things” such as a nice home, sports cars, big TVs do make them happy. I for example enjoy having a quality large TV. In fact I spend a lot of time with my girlfriend each week watching Netflix or Hockey games.
However, wealth can also buy you time. No, no, I don’t have a secret way of how to buy extra years to your life. I do recommend you workout regularly and eat healthy. But wealth, if used correctly can give you more FREE time with the years you do have. You can use it to retire much earlier than what may be considered “normal” by society. You can build investments properly allowing you to work less in 20 years. Here a few questions to ask yourself to help discover what is important to your dreams:
- Would I like to retire early?
- Would I like to work less?
- Do I want or need a big house?
- When do I plan to have kids?
- Do I like to Travel often?
Sit back and really think about what is important to you. Maybe you want it all? An early retirement and luxurious living? Compromises must be made. By exploring this website, you will be able to calculate what is possible and then decide what is more important for you.
Once you’ve thought hard about what you are looking for, move onto the next step in determining your savings target.
Here are some goal examples that I will explore on this website (check back frequently I will be adding more):