Set-up a financial resolution for 2021
We invite you to think about your financial goals and resolutions for 2021.
1) Sit down, understand where you stand along your life’s journey.
2) Make a list of things you want to improve, things you need/want to buy, activities you want to complete.
3) See if you have all the financial resources you need or you need to adjust your expenditures and/or income streams.
4) Look for a system – a set of tools and habits – that will help you execute your financial plan and achieve your goals.
Calculate your Net Worth [Net Worth Tracker]
- We wrote a first Article on the Net Worth Tracker. You can find it here.
- You can directly download the Net Worth Excel Tracker here.
- In the Excel file you will already find a first set of suggestions on how to use the Net Worth Tracker.
- We will post a Video Tutorial on how to use the Net Worth Tracker on our Youtube Channel.
Calculate how long will it take to double your money
Once you set clear financial goals, we can allocate the necessary time and resources to achieve them.
For example, do you know how to estimate the time required to double your money? This is a link to our recent article covering this financial exercise. Enjoy!
Calculate your Saving Goals [Calculator]
Do you want to save 1 million dollars? Any other amount?
Use the Practical Money Skill Calculator here.
Identify your Financial Freedom Number [Calculator]
Once we have set clear financial goals and identified our financial freedom number, we can estimate how long will it take to achieve it with our current investments. In this exercise we look at how long will it take to double our investments.
This is a link to our recent article covering this financial workout. Enjoy!
Evaluate your Financial Plan
So, do you have your ultimate financial goal?
- Buy a house? Buy additional Assets?
- Financial security for you and/or your family?
- Secure your retirement?
- Financial freedom?
- Early Retirement?
Did you build a clear vision of what you want to achieve and why?
A goals without a plan, it is just a wish. Did you build a financial plan to reach it?
Is your Personal Financial Plan solid or do you have some work to do?
Download here an asessment questionnaire. Where do you feel you need to improve?
Read my articles on Money Management
Read my articles on Investing