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Getting More Value from Your Financial Plan with Proper Goal Setting

We all have little castles in the sky. For some, it’s a trip to Hawaii for an upcoming anniversary. For others, it’s saving enough money to send the children to a private college. For most of us, there’s a desire to have enough money when we reach retirement, so we don’t have to live like paupers on monthly Social Security payments. We’d be content to pay off our homes and live comfortably in one place for the rest of our lives. Somewhere along the way, we realize that saving our employer’s contribution in a company pension plan isn’t enough to keep us comfortable in the golden years. We look around for answers, and we may not realize that financial planning isn’t just for the wealthy. In this post, we look at why proper goal setting makes sense for all kinds of individuals and families.

We Need Financial Goals

The first thing to realize is that you can work with a certified financial planner (CFP), sometimes at no cost to you through your employer*. The CFP will be your fiduciary, thereby having a legal obligation to disclose all conflicts of interest. If you choose to work with a CFP, you will want one who is able to help you establish short-term and long-term goals and to choose investments that will pay off in time. Otherwise, it could be difficult to reach the milestones that you set out in a financial plan.

It’s Time to Get Help

When you work with a financial planner, you have a much better chance of achieving goals. You have to decide right away how much more you should start saving and where it should be invested. You might also need to rework your budget to make that happen. Part of your financial plan might actually include enrolling in more benefits and investment options through your employer and your financial institution. When you take steps to make a plan and then implement them, you will gradually reach your goal of inhabiting that little castle in the sky or, even better, you can take your family on that trip you’ve always dreamed about.

Don’t Rush

In financial planning, there is no rush to the finish line. Remember, writing a financial plan is a process that unfolds after you’ve set goals and made some tough choices about how much you can reasonably afford to put away from each paycheck. Top-notch advisors will help their clients achieve their goals because they will be happy with their choices. If you are married, it’s wise to balance the investments that you make with those your spouse makes. With two people investing, there is potential that you should be better prepared for the future.

Be sure to contact Simplicity Life today to be sure your future is prepared for the correct way. 800.921.3100


*Any transaction that involves a recommendation to liquidate a securities product, including those within an IRA, 401(k) or other retirement plan, for the purchase of an annuity or life insurance, can be conducted only by individuals currently affiliated with a properly registered broker/dealer or registered investment adviser. If your financial professional does not hold the appropriate registration, please consult with your own broker/dealer representative or investment adviser representative for guidance on your securities holdings. Planning services are available at additional cost and offered only by appropriately licensed registered investment advisors.


The Four Financial F Words You Need to Know, Forbes

New Data Reveals That People Would Rather Give Up Social Media Than Commit to a Financial New Year’s Goal,

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The information contained herein is for general information purposes only. Simplicity Life is not to be held responsible for the accuracy of this information. Neither Simplicity Life nor its employees provide tax or legal advice. As with all matters of a tax or legal nature, your clients should consult their own tax or legal counsel for advice. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax adviser.

The information, statistics, and opinions reported herein are from sources believed to be reliable. However, Simplicity Life and the author of this blog do not guarantee the truth, accuracy, and reliability of any source, fact and/or statistic cited and no do necessarily agree with any opinions expressed by such sources.

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