What do people want to save up for?
That sounds like quite an easy question to answer initially. Conversations with many clients tell us that they started wanting something similar to many others.
When we dig deeper and deeper, we realize they wanted something similar, but there are always some things they identify strongly but also aspects about other aspects they struggle with. Hearing them talk about the details regarding how they feel about it allows us to understand deeper and try to help them define a term or a phrase they can identify with better.
I firmly believe that identifying some goals you can relate well with is essential as a motivator to help us consciously move towards the goal.
This show is on my thoughts about setting goals that you can connect with:
There are no breakdowns in the video timeline, but I been trying to shorten my videos meaningfully. This video lands at about 32 mins.
Setting financial goals sounds like the most cliche topic but I swear to you that many of the questions that people ask about finance in chat groups, in conversations is about understanding and navigating goals.
At any point, you are going to experience the need to navigate trade-offs due to your family’s limited resources. If we are able to define what we want well and prioritize how much we want them, we can navigate how we allocate resources better.
I also share a very good crowd-sourced list of goals for your friends and yourself to think about.
I find this list great because of the way they define the goals.
We can take a look at some of the goals that many identified with. For example, feeling financially secure is so high, and I felt it is what many are looking for but failed to articulate it in words.
Being generous with loved ones is broad but if we have “enough”, this may be what we want.
Not buying things for ourselves (like what many would ask us about) but what we can do for others (and it doesn’t have to be charity).
Financially supporting and protecting my family is also a well-defined one.
Some, really need more time devotion than money such as maintaining physical health through sleep, diet, and exercise. Look at how high that ranks!
Here is me urging you take a look at the list.
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Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.
Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Insurance Start-up Havend. All opinions on Investment Moats are his own and does not represent the views of Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.