|Rich Best has spent 28 years in the financial services industry, as an advisor, a managing partner, directors of training and marketing, and now as a consultant to the industry. Rich has written extensively on a broad range of personal finance topics and is published on several top financial sites. Recent books include The American Family Survival Bible and Annuity Facts Revealed: What You MUST Know Before You Invest.|
Having Clear Financial Goals is the Only Path to Financial Independence
Because the demands of growing a business can be all-consuming for business owners, many tend to delay saving for retirement. With a shorter time horizon to secure their financial futures, business owners cannot afford to stray down the wrong path. Establishing clearly defined financial goals for what you want to achieve along a specific time horizon is the only way to know that you are on the right path.
More significantly, having clearly defined goals helps to give you more clarity in your choices. Any financial decision, large or small, that doesn’t get you further down the path should be discarded. Suddenly, your choices are clear and there is a purpose behind your decisions and actions. There is no financial plan at least one that you will follow with conviction without clearly defined goals.
While goal setting is not rocket science, it does require the right mindset. Here are the steps to take to establish and define your goals.
With clearly defined goals, you will have more clarity in your financial decisions and you will be able to develop sound investment strategies that target your goals, propelling you on the path to financial independence.
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