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Tips for Setting Long-Term Financial Goals

Tips for Setting Long-Term Financial Goals

January 11, 2023

It takes hard work, time, and dedication to pursue your ideal financial future. Setting goals can help you carefully consider what you want your financial future to look like and help you work towards that. Here are a few tips for setting long-term goals:

Write Down Your Goals

Writing down long-term financial goals can help you stay on track. Think of your list of goals as a promise to yourself. This allows you to keep them top of mind and focused on your priorities.

Make Your Goals Specific and Measurable

Vague goals, like “being better with money” or “saving more,” are not quantifiable and make it easier to let yourself slide. Hold yourself accountable by setting a specific goal like “save 8% of my yearly net income for retirement.” Specific and measurable goals encourage discipline and make it easy to see when you’ve hit the goals you've set.

Have a Deadline

Create deadlines that are reasonable but also challenging. Having a clearly defined timeframe can help break down big aspirations into manageable pieces as well as prevent procrastination.

Set ‘You-Specific’ Goals

Not everyone is going to have the same goals or the same means of pursuing them. Maybe you decide your goal is to get out of debt in the next two years. That goal may not resonate with someone else whose goal is to save for a new house. Your financial situation is unique to you, and your financial goals should be just as unique.

We’ll continue to build your financial strategy based on your goals. These tips may be helpful to reinforce the goals we’re already planning for or spark ideas for new goals that we should discuss. Contact the office for more guidance and tools to help you along your financial journey.

This material was developed and prepared by a third party for use by your Registered Representative. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. The content is developed from sources believed to be providing accurate information.