Today we look at your goal for investing!
Back in 2014, Carl Richards at Behavior Gap was gracious enough to share twelve of his best graphics with anyone who wanted them for absolutely no charge. His hope was that financial advisors could take these images and use them to convey the importance of using a disciplined process to reach your investing goals.
I've taken Carl's images and used them to explain how to systematically approach investing based on these twelve pictures. Hopefully, they will help at least one individual take the necessary steps to reach their personal, professional, and financial goals. Without further ado, picture number one...
You Have to Start with a Goal
Steven Covey has a couple of great, related quotes:
- All things are created twice. First physically and second mentally.
- You need to begin with an end in mind.
Investors are well served to listen to Mr. Covey prior to embarking on their journey. Unless you are in the financial services industry, investing is not a goal in and of itself. Rather, investing allows you to accumulate financial assets that enable you to reach your personal and professional goals.
Unfortunately, all too many folks begin to look at investing as a goal in itself. To become a successful investor, it’s critical to keep in mind that investments are simply a means to the end and NOT the end itself.
Before anyone begins to pick stocks and bonds, they need to first determine what their personal and professional goals are. Until they take this important step, they should avoid jumping into the investment space.
- The question you need to ask yourself is, "Do I know what goals I am trying to achieve with my investments?"
If you have the answer to this question, you're ready for the next step.
Each month, for the next twelve months, I will be publishing another picture to help people understand the investment process.
If you have any questions about the topics covered in this post, feel free to reach out to me at any point in time. At F5 Financial, we enjoy working with entrepreneurs, corporate executives, and families to define their goals and make sure they have plans in place to execute and achieve those goals.
Would You Like More Support?
- Do you have a well-defined Investment Policy Strategy that is used to drive your investments in support of a comprehensive financial plan?
- If not, would you like to partner with someone who is used to helping people get through these struggles and (then, with confidence) implement portfolio strategies in a systematic manner while focusing on your desired outcomes?
If so, feel free to send us an email or give us a call. We’d love to have the opportunity to help you find a bit more peace of mind when it comes to investing.
Illustration credit: Carl Richards (Behavior Gap)
F5 Financial is a fee-only wealth management firm with a holistic approach to financial planning, personal goals, and behavioral change. Through our F5 Process, we provide insight and tailored strategies that inspire and equip our clients to enjoy a life of significance and financial freedom.
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