Are Goals & Dreams Really Necessary?
Posted: February 25th, 2009 | Author: Mo2 | Filed under: Finance, General, Planning | Tags: dreams, financial plans, goals, Investing, portfolio number, reward yourself, stock market, take action |Everyone talks about how important goals are, but do you really need them? Some people may not need them, but if you want to make big achievements in life you need goals and dreams. Writing your goals and dreams down are extremely important so that you can keep track of your successes and failures. By keeping track, you can determine where you are excelling and where you are lacking effort. With this mindset, you will grow and so will your goals and dreams ultimately leading to your fulfillment of even the wildest of dreams!
Write Your Goals & Dreams Out
Writing your goals and dreams out not only helps make it visual, you have made a commitment to yourself that you will do your best to achieve them. It’s only the first step, but it’s a big step in the process. Have different headings for each time period of your goals. Divide your goals and dreams into short (less than 3 months), medium (less than 1 year), and long term goals (longer than 1 year). By dividing your goals and dreams out, you can concentrate your efforts on your short-term goals, while having in the back of your mind your medium and long terms goals.
Review and Revise Your Goals and Dreams!
On a weekly or monthly basis, be sure to take a look at your list. This way you can review them and strengthen your will to work harder on yours goals. If something has changed you can revise your goals to make them stronger or to have them match your current state of mind.
Reviewing is extremely important to keep you on track and to give you that extra step when you are going through trying times. Your short-term goals will be relatively fresh in your minds, but you need to review your medium and longer-term goals consistently so that you know which direction you are heading in. Feel free to add onto your goals and dreams whenever necessary.
Achievements!
If you work hard enough at it, you will achieve your goals and dreams down the road. Sometimes you might fall short and won’t even be close to where you wanted to be. But don’t look at what you weren’t able to achieve, look at the things that you were able to get done. By thinking positively and looking at the progressive steps that you were able to make, you will able to help yourself take that extra step that could make the difference.
Mo2 Thinks
Setting goals, writing them down, and reviewing and revising them is a great recipe for success. Investing is the same as your goal setting, by having short, medium, and longer-term goals you can help create the financial freedom that you are looking to attain.
In the shorter-term you should think about ways of saving money. Simple things such as one less coffee a day or eating out less. Think about ways to help you in the future by spending less today.
In the medium-term set goals of how much saving you want to do in the year. For example, if you have a certain figure in mind that you need to retire. Such as the portfolio number I discussed in an earlier article, then take that apart and see how much you need to save for it. If the figure is $10,000 then divide that by 12 and think about how you are going to come up with $833.33 to invest every month. See how this ties in with your short-term goals?
In the long-term you will be looking at big-ticket purchases like a car, home or even retirement. The portfolio number will be a big factor here by determining how much you need to retire. Think about the things you want and need in your future and retirement and set specific goals so that you know what to work towards in your future.
Take Action!
Grab a pen or pencil now! Grab a scrap piece of paper! Write down the 3 headings, “Short term”, “Medium Term”, and “Long Term” You don’t have to write all your goals and dreams now, you can always add and change them later. Some of your goals and dreams could be outrageous! For example, it could be to buy a $10 million apartment in New York. It’s a dream and you shouldn’t be ashamed for dreaming! Why not take a shot at it? We only live one lifetime, take action!
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