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Created: April 29, 2024
Modified: May 14, 2024

How Should I Track My Financial Goals?

Today’s question is all about tracking your financial goals and how to best do that. There are a lot of different strategies out there.

Have a Conversation With Your Family

My wife Julia and I believe in the importance of goal setting within our family. I’ve talked to clients, I know my personal situation, and I think the easiest way to track them is through open conversations.

Whether you are single, married, want to involve your children in the process or not, the key is to engage in a dialogue where you are open with one another and writing down your goals.

Discuss the Short-Term and Long-Term

Your goals do not always have to be financial goals. Julia and I carefully outline our objectives regarding our children’s education, our desired living location, and the lifestyle we envision for ourselves 5, 10, and 20 years down the line. Our focus isn’t solely on financial success, but rather on the quality and style of life we strive to achieve.

Where do we see ourselves in our careers? How do we envision our children’s future in terms of their interests and passions? Just having that conversation and writing those goals down in the first place is a great step.

How Will You Track Your Goals?

You need a system to be able to track your goals. Many of our clients like using our Money Map Retirement Review or Excel for this purpose. They value having a space where goals are not just recorded, but also where a clear plan is formulated to track these goals on a monthly, quarterly, or annual basis.

Personally, Julia and I dedicate weekends to getting away. We leave the kids in safe hands and venture out of town. It’s our time to discuss everything from financial and lifestyle objectives to health and wellness ambitions. As a married couple, we commit to holding each other accountable not only throughout the year but especially during our annual review of our goals.

Strategies, Goals, and the Power of Accountability

There are a lot of different strategies out there and a lot of different tactics to track those financial goals that you have.

The most important things are engaging in conversations, clearly outlining your goals in writing, and making sure that you have an accountability partner. This is a crucial part of staying focused, adhering to your objectives, and helping you stay on the right path.

Information presented in our podcasts is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.

Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.

Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.

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