January NEST Egg: Goal-Based Investing

The NEST Egg for January 2021 focuses on goal setting and what it means when it comes to financial goals and retirement. We’ve used the SMART guidelines as a basis for creating these goals and elaborating on frequent areas of inquiry.

Establishing SMART financial goals is simply investing and saving with a clear purpose:

Specific- What is it that you really want?

You may want to retire and have your home paid off by 60. Being more specific can offer more precise planning.

Measurable- What’s required to meet your goals?

You may need to save $2 million to retire at 60 to meet your lifestyle. How much do you need to earn, save, and invest to hit this target? Coming up with real numbers will help you know if you’re on track or not.

Achievable- Are your goals realistic for the set time frame?

It’s not unusual for people to set really high goals to accomplish in a very short period of time. Depending on your personality, this can be a driving force to success or failure.

Relevant- What is your objective or purpose for the goals?

This is where you remind yourself why you are saving and investing your hard-earned money. It will help motivate you.

Time-Based- What’s your timeline for reaching your goals?

Set dates for achieving goals so you know how much to save and what type and amount of risk you can take on. Generally, the younger you are the more risk you can take on, but it’s best to speak with a financial professional for guidance.

Check out the NEST Egg recording to learn about:

  • Calculating the “real numbers” when it comes to figuring out what is needed for retirement or financial goals
  • What factors to look at for goal-based investing
  • Tracking and measuring progress towards goals or retirement
  • Dan’s input on setting really high goals for a short period of time
  • How we at NEST Financial achieve our goals

Join us each month for more education on financial planning topics.

Disclaimer: Content provided in webinars and recordings is not investment advice. For guidance on your unique goals, feel free to schedule an appointment with us by email info@nestfinancial.net or visit us at nestfinancial.com

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