Everything I have read lately states that one should set end goals and then systematically work backwards, but I am having a real problem with this when it comes to monetary goals.
When planning goals I think about what is needed to accomplish the goal, the action points, milestones, and potential obstacles. The problem is, I see the end goal, and what I need to have in place (i.e. passive income streams, successful business), but I don’t have a single plan of action to achieve these goals.
How does one set end goals when there are no intermediate goals or milestones? I could say “I want to have 10K in the bank by year endâ€, or “make 1mil by 2017â€, but how do I systematically work back from this point?
One could add “start a successful business†as an intermediate goal, but not knowing if this will ever happen, or if this is even the correct path, doesn’t really create a clear road map. If anything, it just seems to add to the uncertainty.
I could start with goals like “save $200 a monthâ€, or “invest $2400 a year in CD'sâ€, but this is not getting me to “make 1mil by 2017â€.
Is there a better way to approach monetary goals, or should I forgo setting monetary goals and just focus on solving problems and creating value?
Thoughts?
When planning goals I think about what is needed to accomplish the goal, the action points, milestones, and potential obstacles. The problem is, I see the end goal, and what I need to have in place (i.e. passive income streams, successful business), but I don’t have a single plan of action to achieve these goals.
How does one set end goals when there are no intermediate goals or milestones? I could say “I want to have 10K in the bank by year endâ€, or “make 1mil by 2017â€, but how do I systematically work back from this point?
One could add “start a successful business†as an intermediate goal, but not knowing if this will ever happen, or if this is even the correct path, doesn’t really create a clear road map. If anything, it just seems to add to the uncertainty.
I could start with goals like “save $200 a monthâ€, or “invest $2400 a year in CD'sâ€, but this is not getting me to “make 1mil by 2017â€.
Is there a better way to approach monetary goals, or should I forgo setting monetary goals and just focus on solving problems and creating value?
Thoughts?
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