Booklet - SEBI Investor Awareness Website - Securities and ...

Path to achieve Financial Freedom:Setting GoalsList the fi ve goals you have in life:1.2.3.4.5.Goals can be defi ned as things we want to achieve in life, towards which we directour efforts. Let us assume that you have a goal of running a marathon. You don’t wantto start of and run at full speed right at the beginning and later realise that you areunable to fi nish. Knowing that the distance to be covered is long, you can plan yourpace. Also it will help you prepare for the race by training accordingly. Goals can helpus be focused and work out a plan to achieve them.It’s rare that anyone has enough money to spend on every single want. Studies showthat even multi-millionaires believe that they need about twice what they have to feelworry-free. So everyone has to make choices and set priorities—a good fi nancial planhelps you through that process.GoalsGoals are statements about where you want to end up. They are what you want toachieve. Goals don’t talk about how you will do it. Goals focus on what you want to do.Goals should be SMARTSpecifi cMeasurableAchievableRealisticTime bound— focused, NOT general.— you can tell when you’ve reached them.— they are possible.— based on the resources.— there is a deadline.6