Life goals shouldn’t take a lifetime. E*Trade produced a clever commercial about this. Take a look below.
Life Goals Shouldn’t Take a Lifetime
Dream! Hopes and dreams of things to come are part of what makes life sweet. Have big dreams of things you want to do or accomplish in life. Discover life goals!
But just because it is a life goal doesn’t mean it needs to take a lifetime.
Make a Plan
A goal without a plan is just a wish. Many of us make “goals,” but we don’t create a plan to get there. If you are serious about your goals, creating a plan to get there can make them a reality.
Life Goals Need Financial Goals
If your life goals require money, then you likely need a certain level of financial success to fund your goals. Money is not the goal. Money funds the goal.
Perhaps you need to achieve some financial goals to enable you to live your life goals. This entails articulating your goals, creating a plan to achieve those goals, and doing the work. Do you need to live more simply? Perhaps you need to get out of debt. Do you need to get on a budget so that you can stop wasting your money on frivolous things and focus those funds on your true life goals?
Life Goals Shouldn’t Take A Lifetime. Invest.
There may be a number of financial goals you need to hit in order to make progress toward life goals. But most of them will be so that you can do one particular financial move: invest.
Don’t save for your life goals. Invest for them. Don’t save for your dreams. Invest, and let the eighth wonder of the world, compounding, carry you to greater heights. Create an investing plan. Understand and believe in equity investing.
It is unlikely that you’ll have an “Everest Fund,” an account specifically dedicated to your life goal. It is more likely that by investing in a plan, your money will work so much harder for you that you won’t need to contribute as much to your other goals (like retirement). When you know you are on track to retiring successfully and staying successfully retired, and that you don’t need to contribute more than you already are, it gives you the freedom to cashflow other goals.
Don’t just save. Invest. Get help if you need it.
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Schedule a Discovery Meeting with me through my Financial Planning firm, La Crosse Financial Planning. This no-cost, no-obligation conversation will determine what you are looking for and how we can help you retire successfully and stay successfully retired.
This article is educational only and is not intended to be investment, legal, or tax advice or recommendations, whether direct or incidental. Again, this is not investment advice. Consult your financial, tax, and legal professionals for specific advice related to your specific situation. Never take investment advice from someone who doesn’t know you and your specific situation. All opinions expressed in this article are the opinions of the people expressing them. Any performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be directly invested in.