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.
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.