LEARNING MODULE 3 : ARTICLE – Investopedia – How to Set Financial Goals for Your Future
Do This Module last! This article is comprehensive. You DO NOT have to do everything on this list now… or ever. There are multiple paths to financial security.
You can review the article and bookmark it to be used as an “Everything INCLUDING the kitchen sink” reference in the weeks to come. Click the here to read the article and share your ideas with the group in the discussion box.
KEY TAKEAWAYS:
This article organizes the tried-and-true recommendations of most personal finance educators into short-term, intermediate, and long-term goals including:
Short-Term Financial Goals
- Establishing a Budget
- Create an Emergency Fund
- Pay Off Credit Cards
Intermediate Financial Goals
- Get Life Insurance and Disability Income Insurance
- Pay Off Student Loans
- Consider Your Dreams
Long Term Financial Goals
- Estimate Your Retirement Needs
- Increase Retirement Savings
DISCUSSION QUESTIONS:
Be honest, did looking at the long list of potential financial goals in this article make you feel overwhelmed? Me too! Something about a loooooooooooooong list of financial obligations is exhausting. Although if we were all robots, this would be the most rational, efficient path to make progress.
Does your reaction to this article change how you judge Ramit Sethi’s approach of creating your vision of “Your Rich Life” first, and then working backward?
Can you imagine a future where this article feels like a comprehensive checklist to confirm how awesome you are doing, rather than an overwhelming list of things you “really should” be doing. What digestible daily steps would you need to take to reach this future.
Do you think a completely different path would be more successful for your life? What would you do instead?
If you have already started taking action, how did it go? Was it a total pain in the … um, toe? Was it easier than you thought?
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