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5 ways to set financial goals you can keep

Richardson Private Wealth Advisors shares five steps to staying motivated + setting attainable financial goals.

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Richardson Private Wealth Advisors begin with what’s most important to clients — from goals like retirement, education, or a major purchase like a second home.

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The start of a new year can be invigorating, motivating, and hopeful. If you’re like us, you may be feeling motivated to take a fresh look at your finances and focus on future goals... until March rolls around, that is, and we’ve already reverted back to our old spending habits.

Suffice it to say, we’ve definitely fallen victim to overzealous goal-setting. This year, Richardson Private Wealth Advisors is helping us (and our readers) out by outlining five steps to staying motivated + setting attainable goals for 2023 and beyond.

1. Be specific and realistic

Setting aspirational goals (think: living the life you want in retirement or taking a coast-to-coast road trip) is exciting and can be a great place to start. But broad goals can quickly become overwhelming — tangible ones help you stay on track. The best way to make your dreams a reality is to break each goal into small, specific tasks that are realistic to accomplish this year.

2. Prioritize

Pick one or two goals, and tailor your savings, time + resources accordingly. If you have competing priorities (read: saving for your child’s education and retirement), create a plan that will help you make measurable progress toward both. Remember, incremental changes and savings made over time can make a big difference in the long run.

3. Set deadlines

Without target dates in mind, goals tend to drift. As you set deadlines for each task, consider adding a reminder on your calendar to keep the goal a priority throughout the year. If you fall short of what you want to accomplish, don’t give up. Adjust your dates and get back on track.

4. Enlist family support

If you’re married or in a committed relationship, involve your spouse or partner in financial goal setting. If your goal is a family affair, consider including your children in the process — they can benefit from watching you make smart financial choices. With everyone on the same page, you can support one another and overcome obstacles together.

The team at Richardson Private Wealth Advisors sit around a couch.

Need help setting attainable financial goals for 2023? Attend a seminar, download a white paper, or request a complimentary consultation with the team at Richardson Private Wealth Advisors.

Photo provided by Richardson Private Wealth Advisors

5. Work with a professional

Share your goals with your financial advisor, tax professional, or estate planner as appropriate. These specialists may be able to suggest additional strategies to help you reach your goals while being mindful of your other financial priorities.*

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