How detailed do I need to be in setting financial goals?

February 1, 2013

Advisor answers

Most of us would like to, “spend less” or “save more” but we need to be much more specific if we want to set effective goals. When I work with clients to establish what they want to accomplish, I think in terms of creating goals that are realistic, quantifiable, and have a timeline.

Realistic goals can help you stay on track because you’ve set a manageable goal so you’re less likely to get discouraged and give up. At the same time the goal should challenge you and help you rise to the occasion . . . it’s a fine line! Fortunately, re...