SET CLEAR GOALS TO TURN YOUR FINANCIAL WISHES INTO REAL WEALTH: HERE'S HOW

The goals will serve as key benchmarks to measure your progress, and refine strategies

- ATUL SHINGHAL

Goal-setting in wealth management is akin to charting a course for a long and purposeful journey. Without a clear destination, you may find yourself adrift among various financial options, potentially missing valuable opportunities or taking unnecessary risks that could derail your progress. However, simply setting goals is not enough.

You also need a well-structured plan to achieve them and systematically build actual wealth over time. As Antoine de SaintExupéry said, "A goal without a plan is just a wish." By setting clear goals, you can be disciplined with your money, savings and investments. Here is why setting goals is crucial for wealth management and how you can go about it.

Why is setting goals important?

Setting goals provides you with a clear sense of purpose and direction. Instead of simply accumulating wealth without any defined objective, well-structured goals will help you understand exactly what you are working towards and why. This clarity can be the difference between aimless saving and strategic, goal-oriented wealth-building.