In a few days, I’m going to my home town and I cannot wait to see friends and family again. It will be fabulous to sleep in a bit and catch up with them. Despite my best efforts, I will also look after tedious banking affairs. “Hope is not a financial strategy”, as Suze Orman once fittingly said.
Your strategy may be adjusted over the years, reflecting your age, family and job circumstances. When you’re in your 20s, retirement may be far away and you may focus on paying off any student debt. Forward 30 years and planning for your retirement may have become your top financial priority.
What do you want to achieve in life? Or what do you want to get out of life? For some, it’s saving enough that they’ve achieved financial freedom. Others may want to make enough money to travel to foreign places. For others, it may be providing private education for their children. I realise that this is probably one of the hardest questions you’ll ever ask yourself. By defining (in writing) what you’re looking for, you’ll gain clarity.
One you know where you’re heading, ask yourself: