All of us want to achieve big things in life. But there are many steps we need to take before we can achieve those big goals – especially with our finances.
One such example is building wealth: it’s not something that happens overnight, as much as we may all like it to! It takes patience, time, strategy, and expert guidance to get there as quick as possible.
At any point in life, setting short-term financial goals is incredibly important to build wealth and achieve your long-term goals. Doing so gives you a reason to control your finances and to keep track of where your money is going. There’s no denying that setting clear and actionable financial goals can change your life.
We have gathered the common examples of money-related aims you should consider in 2022.
Life is so much easier if you are free from debts. Clearing all your debts is the first step to financial freedom. Whether you’re paying back student loans, your car, or even your house.
Without obligations lurking behind you, you can easily achieve other financial goals you want to reach before retirement.
Despite being an incredibly important aspect of life, retirement planning is often the last priority for many.
The truth is, you should start early—no one is too young to start saving up for a comfortable retirement.
Don’t wait until you’re a year away from retiring to consider your income and your retirement goals.
Aside from preparing for your retirement, do not forget to protect your health. This may not seem like a financial goal but in truth, having poor health can be costly from both a financial perspective and a lifestyle perspective. This is especially true in your later years.
Your health is one of your most important assets in life. Find ways to keep healthy – both physically and mentally.
Emergency funds will save you when something terrible happens to you or your family members in the future. Try to save between 3-6 months worth of living expenses so you can be prepared for anything life throws your way.
It gives you peace of mind to have money to rely on for a rainy day.
When coming into a New Year, it’s worthwhile looking at what is most important to you in your life and what you want to achieve.
Once defining your personal financial goals, a financial planner can assist you in ensuring your financial goals are within your means and provide you with the strategies to set you on the right path to achieving them.
You may have had a budget in the previous year that didn’t work well for you or didn’t allow you to achieve your financial goals. Now, would be a great time to refine your budget and look at ways that you can better manage your cash flow.
You may want to consider seeking a financial adviser, who can provide you with a tailored financial plan and strategies that can help you better manage your finances.
Poole Wealth Portal can support you in managing all your financial assets and cash flow, which can simplify the management of your cash flow and make it easier for you to achieve your ideal lifestyle and financial goals. See how the Poole Wealth Portal may be a benefit to you and your family here: Poole Wealth Portal
Learning more about the financial world will only benefit you in the future. The more you know about saving smartly and growing your money, the better equipped you will be to make good decisions. Consult with a trusted financial advisor to get the very best advice for your lifestyle and your needs.
Ensure a better future and peace of mind by setting and achieving your financial goals as early as possible. Think about the things that matter to you the most and design your financial plan accordingly towards making them work.
If you want to get your finances under control in the coming year, you can work with us at Poole Advisory.
We will partner you with a personal financial advisor to guide you towards better decisions and secure your future. Book an appointment today, and let’s discuss the best options for you.
This information contains general advice only, that is, advice which does not take into account your needs, objectives, or financial situation. You need to consider the appropriateness of that general advice in light of your personal circumstances before acting on the advice. You should obtain and consider the Product Disclosure Statement for any product discussed before making a decision to acquire that product. You should obtain financial or credit advice that addresses your specific needs and situation before making investment or borrowing decisions. Taxation information is based on our interpretation of the relevant laws as at 1 July 2018. While every care has been taken in the preparation of this information, Prosperitas Partners Pty Ltd does not guarantee the accuracy or completeness of the information. The case studies are hypothetical, for illustration purposes only and are not based on actual returns
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