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How to dream big, set financial goals and achieve them

4 Jan 2021

planning financial goals

Generation Wealth Management financial expert Andy Waller discusses the importance of setting financial goals for your future.

I believe that dreams are very important. But if you want to achieve your dreams, you need to set financial goals. These goals can be both short term and longer term and provide a clear direction and guide. I always set myself goals, both in business, finance and in other areas of my life. This helps me to ensure I keep striving to be better at everything I do. It also helps with tracking my progress on a regular basis. So if you have a financial goals and are on a journey to achieve it, or simply want to aim a little higher in life, here are some of my key tips on how to dream big, set goals and achieve what you want in life.

Setting financial goals: don’t be afraid to dream big

Firstly, remember that anything is truly possible. With hard work, determination and some smart planning, you really are capable of so much more than you think. Don’t ever underestimate what you are capable of. Remember to dream big and aim high. You often hear people talk of their five-year plan, this is a good timescale as it is close enough to feel tangible, but far enough away to feel achievable.

Short term financial goals: dream big but plan small

While it’s important to dream big, it can often seem overwhelming.  When we have big dreams the path to realise them can seem incredibly long and arduous. So while you should dream big, it’s important to plan small. Break down your big goals into smaller ones and then tackle them individually. When goals are broken down into achievable segments, it feels more manageable and you are more likely to keep moving ahead.

If you want to swim the channel, you would start with a smaller goal, rather than just focusing on the entire 21 miles. The same goes for your finances, we would all like to be financially secure and have a healthy investment portfolio, but these things take time. This is where short term financial goals become important, working towards and realising these goals can help you stay motivated.

Track your financial progress

When working towards a financial goal, it’s important to track your progress to ensure you are on the right trajectory. If you aren’t where you hoped to be, it’s time to reassess and see what you can do to keep improving and succeeding. If you’re not where you want to be, that’s okay too. Sometimes things aren’t as easy as we expect – and we can’t predict financial shocks such as the Covid-19 pandemic – it just means a little more hard work or planning is needed.

Long term financial goals: get the right support to ensure you stay on track

There are lots of resources you can turn to when you are setting your financial goals. You can find a lot of help and advice online, but there are also companies like Generation Wealth Management which can work with you to create a financial roadmap to get your to your desired destination.

It’s also a great motivation to find someone who has already achieved what you want and can help guide you through the process. Having the right support around you really can make all the difference. If you find yourself getting demotivated, then revaluate, taking small steps consistently over time will eventually lead you to reaching your goals.

Financial goals: failure is often part of the process

I’m not going to sugar coat it for you. If you have big dreams, you need to be prepared for some bumps along the way. Every successful person will have failed more than once in his or her life. The important thing isn’t whether or not you get knocked down, the important thing is to keep going and keep getting back up. Learn from your mistakes and understand they are just part of the process.

At Generation Wealth Management we understand that the first steps to planning your financial future can often be the most daunting,  so if our experts can help please get in touch

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