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Setting Realistic Financial Goals For Your Future

| April 03, 2019

Oftentimes we tend to be unrealistic when it comes to planning how much we can achieve and how long it will take, especially when it comes to setting money goals. A general rule to reaching your financial goals is to establish a plan that prioritizes your goals by timeframes: short-term, mid-term, and long-term. Classifying your goals can allow you to form an achievable strategy for your own personal financial trajectory.

  • Short-term financial goals. These are priorities that can be accomplished within one to two years such as building an emergency savings fund or paying off credit cards. By setting and achieving short-term goals, it can provide you with the foundational knowledge needed to achieve larger goals that take a little bit more time.
  • Mid-term financial goals. While these can’t be achieved right away, they shouldn’t take too many years to accomplish. Examples may include purchasing a car, saving for your children’s education, or buying a new home.
  • Long-term financial goals. These are goals that may take over five years to accomplish and, as a result, require longer commitments and more money invested. One of the most important long-term financial goal for everyone is saving enough money to retire. And the first step to working towards larger goals such as retirement is to start early.

When it involves money, the key is a disciplined saving and investing strategy. Connect with us and together, we’ll lay out all of your goals, help you prioritize, and then develop a solid plan to achieve them. And over time, we’ll help you monitor and track your progress to ensure that you’re on the right path towards financial success.

The content within this document is for informational and educational purposes only and does not constitute legal or tax advice. Customers should consult a legal or tax professional regarding their own situation. This document is not an offer to purchase, sell, replace, or exchange any product. Insurance products and any related guarantees are backed by the claims paying ability of an insurance company. Insurance policy applications are vetted through an underwriting process set forth by the issuing insurance company. Some applications may not be accepted based upon adverse underwriting results.