2017 is quickly approaching, and it’s the perfect time to revisit your financial goals while setting new ones for the upcoming year. Even if you already have a financial roadmap in place, there is always room for improvement (and often a need to account for changes in your life).
With that in mind, here are some helpful hints for creating (and sticking to) your financial goals:
Treat retirement as a bill
You (hopefully) treat your bills as non-negotiable. If we treated our retirement the same way, we’d be far more likely to plan ahead. After all, keeping your lights on in retirement is just as important as it is now. By treating it as a necessity, you’ll ensure you actually put one of the most important financial goals first before discretionary purchases, just as you would your water bill.
Revisit your existing goals
Plenty can change in a year, whether it’s having children or merely encountering increased expenses. That’s why we recommend a financial check-up (at least) annually to revisit your goals and check in on your progress. Either meet with your trusted financial advisor, or take a personal stock of what financial needs have changed, as well as any upcoming financial goals on the horizon.
Find room for improvement, even if it’s tiny
Even if you’re on track for a successful retirement, there is probably room to improve. Thanks to the power of compound interest and long-term investing, tiny improvements can have an enormous impact on your financial future. You might have brushed these seemingly insignificant improvements to the wayside, but now is the time to start implementing them.
Whether it’s contributing a little more to your Roth IRA, or just setting up an emergency fund, consider implementing these financial goals today for a happier and more financially successful 2017.
Learn more about reaching your financial goals
At LexION Capital, we meet with each client individually and continuously to help them set and reach their financial goals. If you’d like to learn more about our services, don’t hesitate to start a conversation today.