When we do anything in life – going for a walk, doing a task at work, cooking a meal – we usually think about the end product. It’s how we measure accomplishment. It’s the same with money. Financial goals keep you on track to live the life you’d like. And they can transform the way you think about money – and improve your quality of life.

He stared at me. He looked at his wife. He looked at his hands. He lifted his head and said, “Sorry, can you say that again?”

They’d heard me.

They were just processing the words.

“You can both retire. You met your goals for retirement – and you can do all those things we talked about. Congratulations.”

She leaned forward, clasping my hand. Her look said it all.

Picturing victory

This is a story about goals.

Goals are what matter in life. Without goals we can’t plan, and if we can’t plan, we can’t perform.

Athletes picture victory. Business leaders envisage the big deal. And it’s the same for anyone wanting the best from their money.

Academics show that, when we train our mind towards what we want in life and work for it, the brain rewires itself to acquire the ideal self-image to make it an essential part of our identity.

If we achieve the goal, we achieve fulfilment. If we don’t, our brain nudges us until we do.

Financial security

It can be simple to set a financial goal. It just needs to be S.M.A.R.T. – that’s specific, measurable, achievable, relevant and time-bound.

There’s a silent ‘F’ in there too: flexible.

After all, life has a habit of throwing things at you – from windfalls and inheritances to redundancy and divorce – and you must move the goal to suit the pitch.

I say ‘you’ … what I really mean is me. Because this is where financial planning comes in.

For example, I met a prospective client the other day. Professional, confident, almost middle aged – and he said he’d come to buy a pension.

My job requires plenty of empathy and curiosity – so, after a few “why” questions, we both realised what he actually needed was financial security.

Yes, retirement saving was a big part of that, but so were clear goals, which created room for other tax-efficient savings and investment vehicles. So, we defined his vision of financial security and created a set of goals with the best possible chance of delivering it.

I daresay he’ll experience issues and obstacles over time. After all, life isn’t linear. But the goals enable me and him to plan and get over them with less stress.

Confidence, man

There’s no strict process in setting a goal. But they do require a lot of thinking. And, for some, getting over the natural discomfort of discussing money.

What I often say is this: money is a means to an end. It’s your life that matters – and setting a goal is about planning your life. The money helps you realise the plan.

We live in a nation where more than 20 million adults don’t feel confident about managing their money. Stressing about money is unpleasant. It affects sleep, decision-making, the way we behave – and our confidence levels.

Having a goal can sweep that away by changing the way we think about money.

What’s your goal?

Oh, and my goal? I have two. At work it’s to deliver good outcomes for clients. Their joy is my job satisfaction – like that moment I described above.

My personal goals I share with friends, family and a few clients.

Get in touch if you think we might help.