It’s our dreams that make life big. But most of the time we stop ourselves from dreaming itself as we assume that these ideas are too farfetched. However, most dreams can be achieved by turning them into goals.
We hereby suggest you set financial goals and then take a step-by-step approach to achieve them.
The five steps to follow to accomplish your financial goals:
Step 1: Know what you want from life
There are some goals that are common to all, and then there are few which are unique to each of us. For example, post-retirement, you would like to open your own restaurant. In that case, apart from your retirement corpus, you would need enough seed capital to start the business. If you set goals that are relevant, you will feel more motivated to work towards it.
Step 2: Be specific about your goal
When you say things like, I want to save for children’s education, or I want to save for a car, they are half-baked plans. While setting a financial goal, you have to be more specific. For example, I want to save Rs 1 crore for children’s education, or Rs 12 lakh for a car. Having a goal in mind gives you a head start.
This story is from the September 2024 edition of Investors India.
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This story is from the September 2024 edition of Investors India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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