"A good archer is not known by his arrows but his aim" - Thomas Fuller
When you think of successful people, they have a thing in common: THEY HAVE GOALS.
Wealthy people are not any smarter than poor people. They just know what they want and have supportive money habits. Having goals and objectives and a good financial adviser managing your money is more important than the amount.
In my career as financial adviser very few people have come to me and said “I need help to achieve my financial lifetime goals”.
In order to reach your financial freedom, you must have clearly defined goals and objectives. You have to know what your goals are before you can achieve them. Goals are broad aims that do not have pound amounts or dates associated with them. For example, a goal might be to "buy a home" or "retire comfortably." Goals are what give people direction and purpose in their lives. When individuals have clear goals in mind, it gives them something to focus on. People that have clear goals they are actively working towards are more likely to achieve them. Objectives are specific aims that have pound amounts and a target date. For example, "retire on £2,000 per month income at age 65”.
Our financial planning process helps to define financial goals & objectives, such as knowing when you will need to use your money and what you will be using it for, and then laying out a plan of action with specific steps you need to take to achieve them.
We spend a great deal of time with our clients trying to articulate & quantify financial goals & objectives because without these any financial plan is meaningless. The more detailed you can be in relation to your lifetime goals, the more strategic and realistic the planning will become.