Financial Planning is a cycle that constantly evolves. Our job is to help you develop a solid financial plan, and so we need to probe, study and provide you with guidance on your way to financial well being. The process begins with establishing goals. Goals will give your life direction. Financial goals will determine where your money will go.
Ironically, financial worries are sometimes more a product of poor planning than a lack of money. Solid financial planning can help take the uncertainty out of your financial future. Setting and achieving goals leads to improved self confidence. Goals give us long term vision and short term motivation.
A goal is a long term description of future conditions. A goal is an extension of what you value. Goals should be specific (retire at 60) and they should be measurable (net worth of $1,000,000 at 60).
Objectives are short term steps toward a goal. Our review process is a precursor to identifying objectives. If we do a thorough review, then you will produce a list of objectives. We will ask you to state your objectives and rank them in terms of their importance.
Not all goals are met and some are at cross-purposes. It is our job to point this out as required so that we may properly align expectations with reality.
It is important to set performance goals, not outcome goals. You should set goals over which you have as high a level of control as possible. There is nothing more dispiriting than failing to achieve a goal for reasons beyond your control. Our practice philosophy is based upon the idea that effort, energy and focus are rewarded when we start with the financial inventory and base our goals on what we find.
If you base your goals on your personal performance, then you can exercise a higher level of control over the achievement of your goals and draw satisfaction from them.
Get started on the right financial road today, contact us or call 202-494-5999 to arrange a personal consultation.