Wednesday, March 01, 2006

Setting Big Goals

Setting Big Goals


Because I'm a financial planner, many people get a little confused when they learn that I started a site that contains free articles on not only financial planning but also goal-setting and time management.

What confuses them, I think, is that this trek beyond the admittedly deep waters of financial planning seems unrelated. But I don't see it that way.

As I explain in an article entitled Set Those BIG Goals Today, the best definition I know of financial planning comes from the Certified Financial Planner Board of Standards. It goes:

"Financial planning is the process of meeting your life goals through the proper management of your finances."

All it takes is for someone to think about that simple yet vitally important definition and couple it with Benjamin Franklin's observation that, "Time is Money," to realise the tight interconnections between the three disciplines of financial planning, goal-setting and time management.

The CFP definition makes it clear that financial planning must centre on the realisation of important goals - LIFE goals, no less! Therefore, my inclusion of goal-setting articles at makes sense... to me, at least. Please let me know what you think!

I've spent a lot of time and money learning as much as I can about the nature and power of goals. Beyond a doubt, the single best resource I've ever come across in this endeavour has to be Brian Tracy's book GOALS! As Brian puts it, "Success is goals, and all else is commentary."

(I think his teaching material is awesome; I'm sure many of you reading this will have already found this out for yourself. For those who haven't, don't take my word for it - do yourself a favour and check out his books and programmes for yourself.)

Within the context of my consulting practice, I have learnt that there needs to be a very careful methodology adhered to when setting major life goals.

The best way I know to illustrate this is to ask:

Have you ever striven hard to achieve something awesome, finally succeeded against overwhelming odds, and then found that the sweet taste of victory turned to chalk in your mouth?

I have! So have many of my clients.

This is what I've since learnt - If you want to avoid that sorry state, remember to add one more step to all your goal-setting activities - always have goals beyond your goals. (And, yes, I learnt that from Brian, too!) For instance, a major goal within the larger sphere of financial planning is retirement planning. But I'm sure you know of people who have worked hard for decades, retired to a life of financial ease, and then faced a shocking, debilitating loss of direction and significance. Many who don't figure out a way to overcome this immense problem die relatively early.

We all need to keep striving... it is the way I believe God chose to hardwire us.

Finally, the way I see it, all this intelligent financial management, goal-setting and significance-targeting takes place within the vista of time. So, please let me know how you've approached your personal time management challenges.

Bye for now!

Warmest regards,


Rajen Devadason is CEO of RD Book Projects and its sister company RD WealthCreation Sdn Bhd. He lives in sunny, peaceful Malaysia with his gorgeous wife Rachel. He's a Malaysian Securities Commission-licensed financial planner, a life planning consultant, a professional speaker and a serial author... which probably explains why he's so exhausted! Some of his books are available here.


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