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[Video] One Big Goal or Many Small Goals

by Financial Design Studio, Inc. / September 10, 2018

[Video] One Big Goal or Many Small Goals

MICHELLE SMALENBERGER, CFP ®

We recently took a road trip and along the way it was my turn to drive.  I was sitting at the steering wheel thinking about how long the trip was and getting frustrated.  I eventually realized that instead of thinking about it in that way, as one BIG goal, I needed to change my mindset.

I thought about breaking it into smaller goals or segments.  Since Steve and I usually split it up each of us driving half way, I now only needed to worry about my four hours of driving.  And even within that I could think of two, two-hour segments. What a difference that perspective gave instead of dreading the whole trip!

Your Goals

This is such a great way to think about the goals you set that seem long-term. One common goal that is longer-term is retirement. We may not be as excited about that goal when it is 20 or 30 years away because it’s so far away from today.  Here’s some thoughts of how to break down that big goal of retirement.

  1. Your First $100K saved

  2. Your New Home Purchased or achieved more education like an MBA

  3. How much then should I be saving to get to the next step?

You can see how each of these begin to build on one another.  So when you look back you can see the progress you’ve made over time.  We also like to listen to audiobooks or apps that really make the time go by faster too.  Sometimes we just need a mental change for how we view our goals. Are there things you’re working toward that are longer in nature?  Are there ways you’ve considered to make them enjoyable along the way?

 

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Financial Design Studio, Inc.

We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.