Six Steps to Help You Achieve Your Financial Goals

It’s fantastic to have objectives, but achieving them might be difficult if you don’t have a strategy for how to get there. For financial objectives, this is particularly true.

Perhaps you’d want to get out of debt. You may want to start saving for retirement more seriously. Imagine that five years from now, you need enough money saved up to pay for your children’s college tuition and room and board. Great! But how exactly are you going to go about it?

Having a plan in place for how you’ll go to where you want to go can help you achieve your goals and dreams. New Jersey financial advisors see a lot of good intentions go awry because they lack a clear path. To that end, we at Foran Financial Group strive to make a difference.

You may use these six suggestions, no matter what stage of life you’re in, to get to where you want to be.

Make a List of Your Goals

Writing out your financial objectives is an essential first step in keeping track of your progress. Think about what you wish to achieve for a while. It’s time to get specific. In other words, if you’re aiming for a comfortable retirement, go a step farther.

  • When do you plan to stop working and retire?
  • What kind of place do you see yourself settling down in the future?
  • What are your plans for the day?
  • How much money do you need to get started?
  • Before making the switch, what are the last-minute details you’ll need to take care of?

According to studies, you’re 1.2 to 1.4 times more likely to succeed in your objectives if you write them down in detail. Why? Suddenly, your goals become concrete targets that you can relate to rather than simply abstract concepts in your head.

Having a visible reminder of what you’re working for every day might help you stay on track.

Don’t Forbid Yourself from Buying the Things You Desire

Having your objectives written down might inspire you to take action toward achieving them. You may be motivated to cut down on your spending and seek for methods to save money as a result of this desire.

To be safe, don’t put oneself in an impossible position. It takes a long time to achieve your financial objectives. A lack of space for the things you want might lead to exhaustion and a lack of motivation. As a New Jersey-based financial adviser, we’ve seen this far too often.

Don’t forget to budget for things that will make your life more enjoyable along the road. You may use this money to indulge in a pastime, go on a trip, or treat yourself to a special dinner once in a while. This can help you stay motivated and boost your chances of success while you work toward your objectives.

Make a plan for achieving each goal that includes specific steps.

In the event that you have ever taken a road trip, you know just how crucial planning is. The first step is to figure out where you’re going, how long it will take you to get there, and how much money you have to spend.

It’s the same with your financial situation. Having a plan in place for how you want to achieve your objectives can boost your chances of success. Making your objectives SMART – or Specific, Measurable, Achievable, Realistic, and Time-bound – is one method to do this.

A broad objective can be, “I want a comfortable retirement.” A nice starting point, but it doesn’t actually explain you how to get there.

In order to retire comfortably, I will need to save an additional $75,000 in my 401(k).” I plan to contribute $1,625 every month to my 401(k) for a total of $19,500 per year in the future. If I do this every year for the next 20 years, assuming a 7% annual return, I will have more than $1 million when I retire.”

An example of a SMART goal in this case is, “I want to pay off all of my debt ($60,000 total) within 10 years. I will attain my aim by contributing $500 a month toward my debts. I’ll do this by saving my quarterly bonus and cutting out on dining out,” I said.

Trying to do this on your own might be a challenge. Do you have a certain number in mind? Is your budget taking into account the effects of inflation, taxes, interest rates, and the volatility of the market? Fortunately, Foran Financial Group is here to aid you. Our staff has extensive expertise working with both novice investors and seasoned financial experts. The first step is to strike up a discussion.

Organize Your Finances Using a Calendar

You probably have a long list of things you’d want to complete. Putting all of your financial milestones on a calendar might help you see and remember everything.

Suppose you want to save for your child’s education, pay off your student debts, and max out your 401(k) for the year. The following is an example of a financial calendar:


  • Make a pre-tax contribution of $1,625 to my 401(k) (k)
  • Use my employer’s match to its fullest extent
  • Savings in a 529 Savings Plan for my daughter of $100
  • Contribute an additional $200 to my student loan debt


  • Update the beneficiaries in my estate plan.
  • Make a pre-tax contribution to my 401(k) of $1,625 (k)
  • My daughter’s 529 Savings Plan will save me $100.
  • Contribute an additional $200 to my student loan debt


  • I saved half of my tax refund and put the other half toward my debts.
  • Make a pre-tax contribution of $1,625 to my 401(k) (k)
  • Savings in a 529 Savings Plan for my daughter of $100
  • Contribute an additional $200 to my student loan debt

Again, a financial expert may be able to assist you in this regard. In order to assist customers achieve their financial objectives, Foran Financial Group helps them identify and monitor the exact measures they must take.

Keeping your savings separate from your checking account is a good idea

Many of our New Jersey financial advisers have seen savings objectives go astray when money isn’t segregated or designated for a certain purpose. We’ve found that putting your funds “out of sight, out of mind” may be an effective strategy. Another strategy is to set up automatic investing contributions. The less you have to do to persuade yourself not to spend money, the more you can automate. Moving money by hand every month may be draining on the soul.

Check with your bank to see if you can set up direct deposit to have your paychecks automatically deposited into your savings account. It’s a good idea to automate contributions to any other retirement or investing accounts you may have apart from your 401(k).

This does not mean that you should just put aside money and forget about it! You should examine your objectives and plans at least once a year to see if anything has changed.

Involve an Accountability Partner in the Process

Who better to hold you accountable than a reputable financial advisor? In order to help you achieve your life objectives, we at Foran Financial Group believe that your financial adviser should act as a sounding board and source of inspiration.

Financial advisors are like personal trainers for your money. A financial adviser can help you:

  • Assist you in creating specific, measurable objectives.
  • Keep you on your toes while you strive for your objectives.
  • Suggest potential dangers in your finances and help you prevent them.
  • When you need guidance on what to do next, rely on me as your sounding board.
  • Offer impartial advise if you begin to deviate from your original plan.
  • We’ll work with you to alter your objectives when things change. Your objectives may have been altered by COVID-19.

The help of a financial adviser may be a lifesaver when it comes to reaching your financial objectives, particularly if you have trouble staying motivated or don’t know where to begin.

LPL Financial is a registered investment adviser and a member of FINRA/SIPC, which means it may provide securities and advisory services.

Foran Financial Group’s financial experts are only permitted to do business with residents of the states in which they are duly registered or licenced. Offers from people residing in other states are not allowed.

Individuals should not rely on the views expressed in this document for advice or suggestions tailored to their particular situation. This information is based on past performance and does not promise future success. Unmanaged indexes cannot be directly invested in.

Click Here For More Articles

Leave a Comment