• Treavor Dodsworth

#118 - Goal Setting


Goal Setting

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!

Thanks! Message sent.

All written content on this website is for information purposes only. Opinions expressed herein are solely those of Sycomore Financial, unless otherwise specifically cited.  Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. The owner of this website takes great care to thoroughly research the information provided to ensure that it is accurate and current. Nonetheless, the content on this website is not intended to provide tax, legal, accounting, financial, or professional advice, and readers are advised to seek out qualified professionals that provide advice on these issues. All information or ideas provided should be discussed in detail with an advisor, accountant, legal counsel, and/or other pertinent professionals prior to implementation. In addition, the owner cannot guarantee that the information on this website has not been outdated or otherwise rendered incorrect by subsequent new research, legislation, or other changes in law or binding guidance. Neither Sycomore Financial or it's owner shall have any liability or responsibility to any individual or entity with respect to losses or damages caused or alleged to be caused, directly or indirectly, by the information contained on this website. In addition, any advice, articles, or commentary included on this website do not constitute a tax opinion and are not intended or written to be used, nor can they be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. Any mention of an investment product or solution is not a recommendation to buy or sell. ETFs that are mentioned may not accurately reflect the market segment mentioned. Past performance is not a guarantee of future results. Any mention of rates or return should not be seen as a guarantee those rates or return will be received.