A WaypointRx Company
When working on developing attainable financial goals - many people struggle with where to start. Much like taking a trip, it's important to put together a clear idea of where you want to go. Whether you are just starting your career or looking to the future in your retirement, there are some key questions to ask yourself to make sure you are on the right path.
The three questions to ask yourself are:
- Where are you going and why?
- When will you get there?
- How will you get there?
Where are you going and why?
First and foremost, you need to develop a crystal-clear vision for your future. If you don't have one, start with this: pretend it is one year from today, and you just had the best financial year of your life - what does that look like. Be sure keep the vision realistic and remember to write it down. If you are banking on winning the lottery, odds are good you will end up disappointed. By developing a realistic vision of where you want to go, you will always have a guide to follow as we continue to develop your goals.
Along with the where, is the why. Your "why" can be more powerful than you can imagine when it comes from your heart and it can be the driving force behind hard days and disappointments. Additionally, the why can include non-financial focused reasons such as a desire to travel more or retire earlier.
When will you get there?
Would you like to achieve your vision in 1 year, 5 years, 10 years, or more? By setting a timeframe for you to achieve your vision, you will help keep yourself on track. For example, if your goal is to have $100,000 in savings – great! However, hoping to achieve that in 1 year will look vastly different than taking 10 years to achieve it. Neither time-frame is wrong per say, but how you go about accomplishing your goals will differ depending on how much time you give yourself.
How will you get there?
In addition to figuring out the specifics on how you will achieve your goals, you will also need to find a way to hold yourself accountable. What will it take to keep you on track and focused on achieving your vision? We recommend trying a few things and seeing what works best for you;
- Track your progress. Write everything down including your goals, what you have done to help achieve them, your estimated time frame, and any other details to help track it all.
- Develop a plan. By having a fully formed, and written, plan in place, you will have an easier time sticking to the path and achieving your vision. Be sure to include all of the various tactics you plan to use as well as the results of each to help measure your success.
- Find a buddy. This can be a friend, family member, co-worker, advisor, or anyone else who will hold you to your plan. Make sure the person is helpful, encouraging and can keep your feet to the fire to make sure you stay on track.
Once you answer these questions, you will be well on your way to starting on the path to achieving your financial goals. If you have any questions or need help, or if you need someone to help hold you accountable, contact us today and we would be glad to assist.
We also recommend you visit http://www.waypointus.com/pharmacist-financial-webinars and check out our free webinar on Establishing A Game Plan for additional tips and tricks for finding and following your financial goals.
At WaypointRx & Pharmacist Financial, we take pride in helping pharmacy owners & staff pharmacists reach financial goals, make educated decisions, & develop financial plans that work best for their unique needs. Over the years we have helped hundreds of pharmacists enjoy inspired independence by achieving greater personal and financial success. As we begin each relationship, we invest a lot of time and effort in the discovery and clarification of each pharmacist’s unique situation and, most importantly, their financial goals.
Advisory services are offered through Waypoint Strategic Advisors, LLC, a Registered Investment Advisor in the state of South Carolina.
Insurance products and services are offered through [Insurance company name], an affiliated company.
All matters discussed in this blog are for informational purposes only. Opinions expressed herein are solely those of Waypoint Strategic Advisors, LLC and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual adviser prior to implementation.
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Content should not be viewed as an offer to buy or sell any of the securities mentioned or as legal or tax advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.
