#118 - Goal Setting

Treavor Dodsworth CFP®, CPA, CKA®
Dec 6, 2021
2 min read

It is December. Many of us are in a flurry of activity as we wrap up the year. In the midst of this flurry, we are also looking to the future.

As you look to the next year, I wanted to share a framework that I use when developing goals. I did not develop this framework but adapted it from a friend and fellow financial advisor.

The overall framework is fairly simple but it has been very helpful for me and therefore I am passing it along.

Break goals down into the following six categories. I provided an example for each goal.

Faith: Read through the Bible in one year.

Family: Go on a date with my wife every month.

Friends: Invite someone to our house every month.

Fitness: Be able to touch my toes for 10 seconds.

Finance: Buy a rental property.

Sycomore (my friend’s firm starts with the letter “F”): Complete 48 hours of CPA continuing education and 10 hours of insurance continuing education.

Personally, it is helpful to keep it fairly simple- 1-3 goals in each category. I then periodically review these goals throughout the year.

I am finding I am fairly rigid in trying to reach these goals so I am giving it prayerful thought when I am developing them so I am not actually pursuing something I shouldn’t be pursuing.

Do you have a good process for setting goals? Send me an email and let me know.

Interesting Article(s) or Video(s)

New York Times - What’s Changing in the New FAFSA and What’s Not

I originally saw this article on Kitces.com. While this article, unfortunately, doesn’t go into detail about every change, it does provide some valuable information when considering financial aid. There is quite a bit of planning that can be done regarding the FAFSA (when to file and changes that can be made prior to filing to improve your position).

Thank you for reading!

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