Episode 13: Goal Setting and Tracking

On this show we discuss goal setting and tracking as we head into the new year. Some tools and tips we use in our own lives that will hopefully help each of you to optimize your financial future.

Dollars and Hops goals sheet:

2021 Dollars and Hops Goals Sheet

Goal setting and tracking:

Why is this important?

• Many of us have big goals, but we don’t know how we’re going to accomplish them.
• Goals don’t just have to be financial in nature, they can be spiritual, intellectual, career oriented, family oriented, etc..
• The key is to think big and set goals for yourself EVERY year
• Make this a FUN thing - do it with your spouse. Your goals don’t have to be the same as your spouses, but each of you should have goals

Goals should be written on paper - ACTUAL paper

• Big goals - can get their own sheet of paper
  • Highlight milestones as you get closer to accomplishing your goals
• You can do this with my net worth, my goals sheet in its entirety, and my retirement savings goals

Scott’s “Goal Night Ritual”

• Night at end of year, bottle of wine, goals sheet
• Do reflection of current year - What did we accomplish vs not accomplish on our goals sheet
• Set goals for the next year.

Goal sheet should be visible every single day - near where you work. In your office so you see it every day and you know what’s driving you to do what you’re doing

• Highlight your accomplishments as they happen

Websites mentioned during the podcast:

Headline: Here’s how much money Americans in their 50s have in their 401(k)s