Good (And Not So Good) Financial Planning Goals

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
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Weekend Reading

You're approaching the most popular time of the year to set goals, but as you do, it’s important to ask yourself: Are your goals truly personal and meaningful?

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What you should know: Here, author Mike Piper distinguishes between actionable financial strategies and genuine financial goals. He notes that examples of poor goals include reducing Required Minimum Distributions (RMDs) or ensuring certain types of income are tax-free. While these can be part of a sound financial strategy, they shouldn’t be the ultimate objective.

Good financial goals, by contrast, are tied to meaningful outcomes, such as ensuring lifelong financial security, leaving a legacy for loved ones, or funding desired experiences like travel without jeopardizing your financial stability.

Key takeaways: To gain greater clarity about your goals (financial or otherwise), you need to understand the true motivation behind them. Most often, this will all stem from your Purpose, a topic we explore in-depth throughout our Retire With Purpose framework and retirement coaching community.