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Practical Planning Tip - Sticking With New Year's Resolutions - Writing Down Your Goals

February 16, 2024

Today we are going to conclude our discussion of sticking with your financial new year’s resolutions by focusing on the importance of writing down your goals: Physically writing down your goals and looking at them regularly is helpful. It keeps people focused and serves as a good reminder in the event you begin to veer off course. This is why writing out an Investment Policy Statement or an IPS is so helpful to many investors. It serves as a reminder of why you are investing in the first place and ALSO keeps folks motivated on achieving those written objectives.

Establishing an IPS before you start investing is imperative so you are structuring your portfolio accordingly and not based on random AND irrelevant other factors. An IPS is especially important for high-net-worth families!

As I conclude this theme of ways to stick with your financial resolutions, what I will say is that Hopefully the small modifications we make in our lives today will allow us to be more accomplished in personal finances, or whatever our goals are, come January 2025.

Watch the full VIDEO here.