Consider this: If you were planning a road trip across the country, would you leave without having a route in mind? Or without charging your phone so the GPS can guide you along the way? No way would you look at the map once and then forget about it! If that was your strategy, you might never arrive at your destination. But if you were absolutely committed to arriving at your destination in the shortest time possible, you would study your route carefully, charting out a plan for each day and making adjustments, as needed, along the way.

Our values and goals support us in knowing what choices we need to make. Our values act as a reference point – the end result of where we want to go – while our goals guide us toward the roads we need to take. If we are unclear about our destination, we are easily misled. The longer we wander without purpose or direction, the more lost and unclear we become.

We have unlimited choices as to how we spend both our time and money. A truly successful financial plan is one that helps you arrive at your chosen destination.

Are you ready to answer the question, “Where do you want to go?”

Why are Goals Important?

1. They provide us with purpose and direction.

2. They help us convert our thoughts into concrete actions.

3. They give us motivation.

4. They provide us with guidelines, especially in times of confusion or crisis.

Reasons People Do Not Reach Their Goals

1. They fail to write the goal down.

2. They create goals that are not well defined.

3. There is no true personal meaning behind the goal which means there is no drive to achieve it.

4. They fail to define a reward for achieving the goal as well as a reward for achieving the milestones required to get there.

5. They do not share the goal with another person for accountability, help and support.

6. They keep changing their goals rather than seeing them through to completion.

7. They never incorporate the goal into a realistic plan that includes measurements, timelines and resources.

If you are in need of guidance in developing your financial plan, we would be happy to introduce Allos+, our financial planning subscription service. Visit https://www.allosadvisors.com/contact-us-soon to schedule an introduction to learn more!

Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this content, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for you or your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Allos Investment Advisors®, LLC.

The content of this letter does not constitute a tax or legal opinion. Always consult with a competent professional service provider for advice on tax or legal matters specific to your situation. To the extent that a reader has any questions regarding the applicability of any specific issue discussed in this content, he/she is encouraged to consult with the professional advisor of his/her choosing.

Published for the blog on January 10, 2024 by Allos Investment Advisors®, LLC.