Thinking ahead about how investing can support financial goals is the purpose of planning. Naturally, there’s lots of talk about common planning targets: retirement and college. But there’s also consideration of how to achieve multiple goals at various stages of life — whether covering basic needs or leaving a legacy — and how taxes and tax planning could impact results. Articles in the planning category allow you to clarify how today’s decisions can impact efforts to grow, manage, and maintain wealth.
When I was younger and met with financial advisers, they often asked about goals. Honestly, this question stumped me. I had no idea what type of life goals and financial goals I should have. Fortunately, I saved and invested without a clear vision. In retrospect, I see why goals are useful if not for wealth-building, then for piece of mind.