Setting Goals


Hi….so you got a Surplus or a Shortfall….!!!

Assuming you got a Surplus this Is the amount which you will want to invest in different instruments, asset classes, investment options.

But wait a minute…do you know why you are investing ?

No right….so before that we need to know the why of what we do..isn’t that so true even in our lives ?

So let’s do an interesting exercise of setting a purpose, aim, goal, objective of investing….

We will set a goal….a SMART Goal…you know what is a SMART goal ?

SMART is an acronym for :

Specific : Son’s education
Measurable : Amount : Rs 10 lakhs
Attainable : Have started investing about 2 years ago
Relevant : Have started preparatory work
Time Bound : Son’s education funding required by 2016

So the goal would read as : I would need app Rs 10 in today’s value by end of 2016 and have started investing about 2 years ago.

Goal setting is am important method of:
– Deciding what’s important for you to achieve.
– Motivating yourself.
– Building self-confidence.

Some of the common Life Goals are :

Child’s Education
Child’s Marriage
Expanding business
Home Purchase
Estate Planning – leaving a Legacy for the next generation

Hence, it is important to prioritize which goal should come in which order so that you can make your Financial Plan accordingly to the timelines of the events.

It becomes exciting to set goals and then work towards it. There is a lot of clarity which sets in once the goals have been set. You can sit and set these goals with your spouse / family member so that they also get involved. For example, if it is a child’s education, you can give him some insights so that he knows how much efforts and money is being channelized for his education. It would make him value and perform better.

Any of the goals if done properly, there is no last minute panic or distress situation.

So happy goal setting ….remember the surplus still has to be invested….

Catch you next time……


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s