How to identify and set your goals:
1. Imagine what you want: Visualise. Paint a clear picture what you want in your life. Write it down in a piece of paper - what you desire, what you want to achieve. What are the things that are important for you? Imagine things that makes you happy or what would you consider a happy life.
2. Judge yourself: This is a good way to start from general to specific. Think about your interests and personality. Think about something that you enjoy doing at your workplace and in your leisure time. What excites you and what you enjoy doing a lot. For example, some like designing, selling, planning, analysing at work. And maybe photography, literature, painting, dancing or even collecting items. Everyone's likes or dislikes are different. When one merges one’s interest and personality into work and personal life, activities become meaningful.
3. What will be your future ?: Think about your future in a realistic way. At what age do you want to retire, how much money you need after retirement or simply what is your desire to do once you retire ? Someone may have a desire to open a school for charity or to buy a premium luxury car. But to make these dreams into reality, money is important.
4. Make a strategy: Strategy is a path that takes you to your goals. This is the most important step to achieve your goals. First you have to start with the “Must-do” essential goals. These are the most important goals for you. Then come the “Nice to do” goals. You have to prioritize your goals. You may need to start cutting a few goals from the list at this point to make the list not too long. Some goals may not be achievable. Start investing toward the important goals first like Retirement fund, Child’s education, Purchase of home, daughter’s marriage etc. After investments are allocated for the necessity goals, start investing towards discretionary goals.
5. Regular habit of investing: Once the investment strategy is decided, invest regularly. It is not a onetime process rather it’s a consistent process. Set aside money each month and invest rather than spending it on other things. Meeting your goals will give you more happiness and security than buying material things.
6. Identify sub-goals: Achieving life goals is a long process. Creating sub-goals will help you to create a step by step plan for achieve your ultimate goals. Make yearly checkpoints which will help you to check whether you have invested as per the strategy. With a list of manageable and clear sub goals, it will be easier for you to see your own progress towards the main goal.
7. Time to achieve the goals: Once you have identified the goals, time to achieve such goals is also important. Having deadlines will keep you motivating by adding sense of urgency. It will help you determine the actual time needed to reach the goal.
One of the best ways to stay motivated is to keep track of your investments and review it regularly. The above process is an outline which will help you to think of the things that you like, setting goals you understand and creating a path for such goals to succeed. Good luck on your journey!
(Author Rajiv Jamkhedkar is a veteran of the Retail Financial Services business and has held positions of leadership in the Industry at the highest level. He currently runs his own company Serengeti Ventures Pvt Ltd. Serengeti Ventures is a unique marketing company that helps businesses grow their revenues through improved Sales and Marketing systems and their execution. Recently, Serengeti Ventures has launched its second venture - a Pioneering product The AZAD Programme, to help individuals achieve Financial Freedom. It is a first-of-its-kind product in India aiming to provide financial advice that helps people save money and earn more by making the right choices. Rajiv was the MD & CEO of AEGON Religare Life Insurance Company for 6 years (2007-2013). He was one of the first employees and set up the company from scratch)first published:September 25, 2015, 18:49 ISTlast updated:September 25, 2015, 19:02 IST
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"Setting goals is the first step in turning the invisible into visible" – Tony Robbins. Most people have a dream in their life, a vision of what they want from their life, for their family. One's own values and interests determine what they want out of their life. To bring your dreams or aspirations into reality, setting goals is the first step.
How to identify and set your goals:
1. Imagine what you want: Visualise. Paint a clear picture what you want in your life. Write it down in a piece of paper - what you desire, what you want to achieve. What are the things that are important for you? Imagine things that makes you happy or what would you consider a happy life.
2. Judge yourself: This is a good way to start from general to specific. Think about your interests and personality. Think about something that you enjoy doing at your workplace and in your leisure time. What excites you and what you enjoy doing a lot. For example, some like designing, selling, planning, analysing at work. And maybe photography, literature, painting, dancing or even collecting items. Everyone's likes or dislikes are different. When one merges one’s interest and personality into work and personal life, activities become meaningful.
3. What will be your future ?: Think about your future in a realistic way. At what age do you want to retire, how much money you need after retirement or simply what is your desire to do once you retire ? Someone may have a desire to open a school for charity or to buy a premium luxury car. But to make these dreams into reality, money is important.
4. Make a strategy: Strategy is a path that takes you to your goals. This is the most important step to achieve your goals. First you have to start with the “Must-do” essential goals. These are the most important goals for you. Then come the “Nice to do” goals. You have to prioritize your goals. You may need to start cutting a few goals from the list at this point to make the list not too long. Some goals may not be achievable. Start investing toward the important goals first like Retirement fund, Child’s education, Purchase of home, daughter’s marriage etc. After investments are allocated for the necessity goals, start investing towards discretionary goals.
5. Regular habit of investing: Once the investment strategy is decided, invest regularly. It is not a onetime process rather it’s a consistent process. Set aside money each month and invest rather than spending it on other things. Meeting your goals will give you more happiness and security than buying material things.
6. Identify sub-goals: Achieving life goals is a long process. Creating sub-goals will help you to create a step by step plan for achieve your ultimate goals. Make yearly checkpoints which will help you to check whether you have invested as per the strategy. With a list of manageable and clear sub goals, it will be easier for you to see your own progress towards the main goal.
7. Time to achieve the goals: Once you have identified the goals, time to achieve such goals is also important. Having deadlines will keep you motivating by adding sense of urgency. It will help you determine the actual time needed to reach the goal.
One of the best ways to stay motivated is to keep track of your investments and review it regularly. The above process is an outline which will help you to think of the things that you like, setting goals you understand and creating a path for such goals to succeed. Good luck on your journey!
(Author Rajiv Jamkhedkar is a veteran of the Retail Financial Services business and has held positions of leadership in the Industry at the highest level. He currently runs his own company Serengeti Ventures Pvt Ltd. Serengeti Ventures is a unique marketing company that helps businesses grow their revenues through improved Sales and Marketing systems and their execution. Recently, Serengeti Ventures has launched its second venture - a Pioneering product The AZAD Programme, to help individuals achieve Financial Freedom. It is a first-of-its-kind product in India aiming to provide financial advice that helps people save money and earn more by making the right choices. Rajiv was the MD & CEO of AEGON Religare Life Insurance Company for 6 years (2007-2013). He was one of the first employees and set up the company from scratch)
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