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How Do You Determine Your Financial Priorities and Goals?

How do you determine your financial priorities and goals? This difficult task is a key to financial success. Watch this week's Arista Advice to learn how to set yourself up for success.

Full Transcript:

Question of the week is: "Paul, how do you determine your financial priorities and goals?"

Believe it or not, it's very difficult for many people to set their priorities and goals. Setting strong financial goals is the key to everyone's financial success both at the corporation and at the individual and in the family finances. 

Whether you are saving for retirement, a down payment, or just starting a savings account setting financial goals early will help grow your money faster. Here is a chart that we use with our clients to help them prioritize their financial priorities.
From retirement planning, saving for major purchases, saving for college, appropriate insurance coverage, providing legacy, caring for parents, contributing to charity, investment management, minimizing taxes, which is common for everybody, and then managing a budget.

This is just an example of identifying some key financial goals. In many cases many clients have other key personal financial goals that we discuss. 

Please write them down.
Please share them with somebody a co-worker, a spouse, a partner, a brother, a sister, a father, but let's share and talk about our goals  and our priorities. So, please talk to your fiduciary financial advisor and other important people about your priorities and about your financial goals. 

As I've shared in times past, people do not share their financial goals with others, and they are not hitting their goals. We want to help people achieve their goals.