A new year provides an opportunity to reevaluate your strategies and focus on growth. Axis Wealth Advisors can work with you to set goals that are achievable, meaningful, and aligned with your short- and long-term objectives for 2025—and beyond.
Here are five key steps:
1. Reflecting
Before jumping into goal setting for 2025, we’ll spend some time assessing your current financial situation. Together, we’ll review your spending habits, savings, investments, and any financial milestones you reached and identify any challenges.
Reflecting on the past year will provide valuable insights into what worked well and where we may need to adjust—and help us build a clearer, more informed foundation for your short- and long-term goals.
2. Defining Your Vision
What do you want to achieve by the end of the year? Is your focus:
- Paying off student loans
- Starting a family
- Maximizing your tax-efficiency
- Educating children
- Selling a business
- Planning for retirement
- Creating a succession plan
With this clarity, we can then determine how to set and achieve your goals.
3. Setting Clear, Actionable Goals
To make your vision a reality, we’ll work with you to break it down into specific, measurable, achievable, relevant, and time-based (SMART) goals—which can help us not just set goals but create a plan for success.
For example, instead of simply setting a goal to save more for your retirement, we’ll refine the goal to something like saving an additional $25,000 for your retirement in 2025. This approach provides a clear target to aim for and ensures your goals are realistic within the given timeframe.
Setting attainable goals can also help you navigate market uncertainty and improve your overall investment strategy.
4. Creating a Plan
Once we clarify your goals, we’ll break them down into smaller, manageable steps. So, if you want to save for retirement, we’ll calculate how much you need to invest each month to stay on track.
It’s also helpful to prioritize your goals if you have multiple objectives. For instance, if you’re saving for both retirement and your children’s education, we may decide it’s best to focus on one goal at a time or allocate different percentages of your monthly savings to each.
5. Monitoring and Adjusting Regularly
With goals in place and a plan of action, you’re off to a good start. To ensure you stay aligned with your long-term vision, we’ll regularly monitor your progress monthly or quarterly and adjust if needed.
Life can change unexpectedly—and so can your financial situation. Reviewing your goals and plan periodically helps ensure that you’re staying aligned with your short- and long-term objectives.
Find out how Axis Wealth Partners can help you grow and deliver a better client experience. Schedule your discovery call today!
Commentary provided in collaboration with Symmetry Partners, LLC. Symmetry Partners and Axis Wealth Partners are unaffiliated entities. Symmetry Partners, LLC, is an investment advisory firm registered with the Securities and Exchange Commission.