New year’s goals: what does success mean to you?

One of the most important things you can do in the New Year is make your goals concrete. And the best way to do that is to figure out what success means to you.

If you don’t know what success looks like, it will be hard for anyone else to help you achieve it.

So before committing to your goals, it’s important to ask yourself:

  • What does success mean to me?
  • How will I measure my success?
  • How will I reach my goals?
  • How can I track my progress?

These are questions that Poole Advisory can help you answer to understand what success means to you. As a result, you’ll be able to:

  • Set attainable goals that are in line with your financial planning.
  • Create a plan of action for achieving these goals.
  • Develop the skills and motivation you need. 
  • Mitigate possible financial risks to reach your full potential.

What does success actually look like, and how can you quantify it?

Defining success in your own terms is great for helping you stay motivated and focused. To help you better understand what success actually means to YOU, here are some questions you can ask yourself as you work toward your goals in the new year.

1. How many hours do you work?

In Australia, most people work up to 7.6 hours a day, five days a week. This comes to a total of about 38 hours per week.

Back to you: how many hours do you work in a week? If the answer is more than the average, then there’s room for improvement.

What if there was a way to earn the same amount of money – or even more – by working less? As more and more people continue to switch to a four-day working week, we believe this is possible, and we think it’s worth exploring.

The idea is simple: you work fewer hours but make up for it by earning more per hour

The key to making this work is to increase your efficiency and focus on the most important tasks that need to be done. By increasing your productivity and efficiency, you’ll end up with more time and money than before.

This is especially important because it helps you avoid burnout or overworking yourself. Working less but earning more gives you the freedom to take care of yourself and live life on your terms, which makes it a success!

By working fewer hours and days per week, you can:

  • Spend more time with your family, friends and loved ones.
  • Have more time to travel, learn something new and enjoy life.
  • Maintain a healthy lifestyle when you’re not working so much.
  • Give more time to yourself for self-improvement and personal care.

As you can see, working less can mean getting closer to success as it improves your happiness and overall satisfaction in life. It also gives you a chance to take care of yourself and your loved ones, and it can even benefit your health.

2. How much are you investing?

When it comes to investing, it’s important to keep in mind that the more you invest, the more you stand to gain.

However, you need to determine your risk tolerance level for investing. Otherwise, you could end up losing money without even knowing it. Poole Advisory, your go-to financial adviser, is always ready to offer the financial advice you need in accordance with your situation.

Investing more is a goal in itself, but it will also help you achieve other goals. When you invest more, you’re able to save more money for the future and reduce your reliance on debt. You might even be able to quit your job and start your own business. 

Investing more also helps build your credit score and improves your credit rating. You’ll be able to qualify for better interest rates on loans when lenders see how much you’re investing. The possibilities and benefits are endless when you invest more.

Above all, your investments allow you to see where your money goes. It will help you quantify success based on how much money has been generated through those investments over time.

3. Do you give back?

Giving back is important because it helps us feel good about ourselves, and it’s also a good way of measuring our own standards as humans. If you’re able to make a difference in someone else’s life, it makes you feel like your own life has been enriched as well.

And giving back doesn’t have to mean money spent on expensive charity dinners or events; there are plenty of simple ways to give back without breaking the bank. For example:

  • Donating clothes you no longer wear.
  • Helping out with your local community activities.
  • Donating blood at your local blood clinic.
  • Volunteering at an animal shelter or for any other worthy cause.

Giving is a great way to make a difference. When you put your time and energy toward worthy causes, you feel good about yourself and feel like you’re contributing to something meaningful.

In short, giving creates positive change in our community and in ourselves – and that’s something you can tap into as you work towards your new year’s goals.

4. Are you getting ready for retirement?

Like most people, you probably look forward to the day when you can finally hang up your work boots and call it quits. So… do you have a wealth protection plan for after you retire?

We often hear this concern from clients looking to create a financial plan for their retirement. Well, you can be ready for retirement, but why is it essential to prepare for retirement?

As financial advisers, we believe that getting ready for retirement is one of the most important steps you can take toward achieving your new year’s goals.

It doesn’t matter how much you earn or save if you don’t have a plan in place for your retirement.

First, preparing for retirement creates a sense of financial security for both yourself and your family. Having a plan in place means that your finances will be secure even when you no longer have an employer footing the bill.

Secondly, it gives you confidence to know that you have enough savings to cover your expenses – even if something unexpected were to happen (like losing your job).

Consequently, it’s important to talk with an experienced financial planner such as Poole Advisory. We’ll help you see the real value of financial advice by showing you how to invest in ways that will make sure your money continues to grow until retirement and beyond.

How can you tell you’re having success with your new year’s goals?

It’s common to think that success is all about money, but it’s not. There’s actually more to success than growing your bank account.

Below is a table of some factors to consider when planning your goals.

What to watch out for

What it means

The level of effort you put in (i.e., doing less for more)

You’ll have more time for other things that matter to you, such as spending time with your family or friends.

Feeling good about life

You have more energy and enthusiasm for life when you’re motivated and inspired to do the things that matter.

How motivated you are to achieve your next goal

You’ll have more confidence in yourself and your abilities after achieving or making good progress toward your goals.

Positive change in yourself or your life

You’re feeling happier than ever before, and more content, because your life has a purpose beyond just making money. 

Step up your game this year with Poole Advisory

Success is a subjective term, and there are as many definitions of it as there are people in the world.

Naturally, success means something different to everyone. And it’s not just about money – it’s also about time, health, love and relationships.

That’s why it’s so important to make sure that you define success for yourself and that you don’t just settle for what other people think it should mean.

If you need help defining success for yourself, why not reach out or book an appointment with Poole Advisory today?

“Anthony has been an excellent adviser to us over the years, and really goes the extra mile. His professionalism, transparency, and caring style is a winning combination, and he has shown a fantastic ability to find opportunities and insights into our financial situation …” – Ben E., Client

The Poole Advisory team will take the time to get to know you and your family. They’ll then develop a plan that works for you and your situation – with a strategy tailored specifically to your needs.

For more information, contact us today.

Compliance Disclaimer:

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

Poole Advisory Pty Ltd ABN 15 642 040 604 is a Corporate Authorised Representative (No. 001282603) of Prosperitas Partners Pty Ltd ABN 30 662 654 453 AFSL 544 917

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