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Set Financial Goals in 5 Steps

Set Financial Goals in 5 Steps

Setting Goals

Preparing for the financial future you envision requires setting personal goals and creating a plan to reach them. When you clearly define your goals, you will see your progress. That is motivating!  Keep it simple with these five steps, and start moving closer to your financial goals today.

1. Make a List of Your Future Financial “Wants”

Make a list of short-term, medium-term and long-term goals that reflect your personal needs, wants and values. There are no right or wrong answers — incorporate things you consider worthwhile.

2. Prioritize Your Goals

Rank the items on your list. Does timing make some more urgent than others? What is each item’s relative importance and overall cost? Consider your priorities then decide when you could start working toward each of your goals and how much money you will need to reach them.

3. Get Specific

Be specific about the actions you will take to reach your goals. Having smaller tasks or “mini-goals” helps you break down a large goal into more manageable steps. This helps you stay motivated because you will feel like you are consistently making progress toward your larger objectives.

4. Find the Resources

When putting money aside toward a financial goal, determine where that money will come from and how much you can spare. Start by creating a budget  and tracking your spending. Allocate money for your expenses first then see how much is left over for your financial objectives. Consider ways you can decrease spending or earn extra income to make faster progress toward your goals.

5. Stay on Track

You should consistently evaluate your progress toward your financial goals. Applaud your successes and tweak anything about your plan that may not be working.

Use the "Small Changes, Big Savings" calculator to see how much you can accumulate to put toward your financial goals by making small adjustments in your daily life. 

Note:

Group annuity contracts are issued by American United Life Insurance Company® (AUL) and registered variable annuity products are distributed by OneAmerica Securities, Inc., a Registered Investment Advisor, Member FINRA, SIPC, One American Square, Indianapolis, IN 46282, 1-877-285-3863. McCready and Keene, Inc. and OneAmerica Retirement Services LLC provide administrative and recordkeeping services and are not brokers/dealers or an investment advisors. Neither AUL, OneAmerica Securities, McCready and Keene, OneAmerica Retirement Services nor their representatives provide tax, legal or investment advice.

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