Jeff Speicher, a financial advisor and managing director at Speicher Financial Group, leverages more than 20 years of experience in the field to provide clients with wealth management services. Recognizing the importance of a solid client relationship, Jeff Speicher and his team provide clients with comprehensive investment planning based on each person’s individual goals.
No matter how hard you work toward certain financial and investment goals, you may never achieve them if they are unfocused or unrealistic. To avoid this issue, work on setting SMART goals: Specific, Measurable, Achievable, Realistic, and Timely.
1. Specific: When creating goals, make sure you are specific about what the goal is, why you set it and who else it may impact. In essence, this step involves creating a mission statement for your goals.
2. Measurable: If you create a specific goal you can’t measure, your ability to monitor progress is impeded. Take the time to create markers to keep you on track as you pursue your final goal. If you fail to meet these markers, you can more easily see where you need to make changes.
3. Achievable: Before you begin working toward a SMART goal, make sure what you’ve laid out is possible within your given time frame. Setting achievable goals keeps you motivated to continue onward and enables you to get the right tools and skills for achieving each goal.
4. Realistic: Similarly, you need goals you can realistically reach given your current situation and that are meaningful to you. This involves taking an honest look at your finances and determining the amount you are able to set aside. If you’ve set the bar too high, don’t be afraid of lowering it so you can make continual progress toward your goal.
5. Timely: Finally, it’s essential that you set a clear time frame for when you want to reach your goal. This gives you a deadline for accomplishing your dreams, and lets you better monitor your progress. In addition, time constraints create a sense of urgency and motivation.
Jeff Speicher 