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We have discussed in previous articles how important it is to have your goals on paper. Now we are going to continue with how to construct some goals that you can achieve. You should be able to achieve them in a fairly short amount of time.
There are 3 achievable wealth goals that we will talk about. Those three are the dollar amount of the goal, the time that it will take you to reach the goal, and the periodic planned investment. An goal that is achievable is balanced with all 3 of these components. You must remain flexible and be open to changing your plans if you goals and situation changes. Notice I did not say, just change your goals because you get a whim that you want to do something different.
Lets use an example and say we want to save $35,000 to buy our first investment property by next year at this time. Lets say we are going to put $1000 in a savings account each month to get to this goal because that is all we can afford at this time. If we are going to save that much money, then we know that $1000 per month will only give us $12,222 in one year with a 4% return on our money.
Now we know we must alter our goal because it is not feasible with our current situation. You can always try to figure out how to make more money, and that's a great idea. For now, lets say that you are just going to use the current money you have. You have to change the trip now that you know you cant afford to go on it. This is how we keep things simple and easy in life. Stay clear in what you want and how you are going to get there, and life will be much easier.
About this Author
Darius has been writing online for a while now and loves writing about different subjects. You can check out some of his websites at [http://www.citronellabarkcollar.net] and http://www.staywelldogdoor.org
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