“A goal without a plan is just a wish,” wrote French author Antoine de Saint-Exupéry in the 1942 classic, The Little Prince.
All too often, people have a hard time articulating their financial goals. This can make it difficult to create an investment strategy.
It’s often much easier for a person to explain what they don’t want to do. Psychologists have written books about why this is the case. But for many people, it’s easier to articulate what they want to avoid vs. what they want to enjoy.
In other words, it’s easier to say, “I don’t want to work in retirement” than it is to say, “I want to play golf every day.”
“As important as it is to ‘have a plan,’ it’s more important to let/allow God to direct your steps,” wrote Mick Owens, author of the popular book Diamond of Life: The Five P’s of Success and Significance. “After all, He created you and the stuff we often chase. Let Him guide and direct you. He is amazing!”
In his book, Mick has a fill-in-the-blank illustration that challenges readers to prioritize their goals and objectives.
From “buying a home” to “starting a business” to “living well after retirement,” the book asks readers to rank a list of 19 items on a scale of 1–10. It’s designed to help the reader start the process of explaining what they value and what they want to pursue.
“Commit to the Lord whatever you do, and he will establish your plans.” Proverbs 16:3
First Steps1
Ideally, financial goals will motivate and inspire you. When you create that big goal, you can highlight smaller milestones along the way. Every milestone that you hit can propel you forward.
Focused & Motivated1
End goals are designed to help keep you from getting distracted. Having clarity and direction can help you manage outside factors that might hinder you.
Measuring Progress1
If your goal is not important, it can easily be forgotten. When it comes to financial goals, it’s often best to be able to track your progress so that you can adjust your approach if needed.
Don’t be like Alice
In Lewis Carroll’s well-known book Alice in Wonderland, Alice has a short conversation with the Cheshire Cat.
“Would you tell me, please, which way I ought to go from here?” Alice asked.
“That depends a good deal on where you want to get to,” the Cheshire Cat responded.
“I don’t much care where,” Alice said.
“Then it doesn’t much matter which way you go.”
Don’t be like Alice. Choose the path. Set goals. And get to where you want to go.
- Forbes.com, February 22, 2023
