SETTING FINANCIAL GOALS FOR 2023

Another new year is upon us, so before I get started, may I first take this opportunity to wish you all a very happy new year. Did you ‘get done’ all the things you promised yourself you would this time last year? How about the things that were carried over from the year before? What are your new plans? I know, I know… we all do it, don’t we. We promise ourselves we will do it this year, but life sweeps us away in so many directions that it’s often hard to stand still and take a deep breath before moving forward. Especially after the few years we have just come through.

With all that said, it really is time to dig our heels in and get things done. Financial goal planning can seem complicated to some, especially if you need help figuring out where to start. It’s almost a cultural norm these days to set New Year’s resolutions, so why not take advantage of that by setting financial goals for yourself?

I would like to ask you, “what are your personal financial goals for the next decade?” Do you want to retire by age 50? Or maybe you’re planning to start a family and be ready to take on having a child by the time you

Whatever your personal financial goals are, you’ll have to think about them and make some decisions right now, or at least in the next few years.

The good news is that your future is in good hands! With the proper planning and the right personal finance advice, you can achieve your dreams in the next decade. Soon enough, you’ll be able to look back and see what you did to get yourself to where you are today. The worst thing you can do however, is not have a plan at all. In this article I will be providing you with some personal finance advice for 2023 that you can start implementing today – or at least start thinking about. What’s the latest regarding Personal Finance Advice?

Debt - You’ll want to pay attention to your debts before your investments. Your debt is what you have to pay back, while your investment is what you can let mature and eventually sell and make money on in the future, if that’s your plan. Pay off your debts as soon as possible because they’ll ruin your financial planning for the rest of the year if you leave them. Plus, your debts should be low and negligible to use the money you’re saving to make more investments. By making sure that your most expensive debts are first, you’ll be able to make more significant investments and earn a higher return on them. And, if you have small debts, you can use the money you’re saving up to make more significant investments in 2023.

Focus on your emotions

Don’t be an emotional investor. It’s important to remember that your investments are only one part of your financial plan for the year 2023. It’s also important to remember that you’re investing in the future. By keeping excitement in check, you can save yourself from making investment mistakes.

What to focus on in 2023

The simple answer is to focus on what financial goals will benefit you and your family. Focus on where you are now and where you would like to be regarding your finances.

I. Keep an eye on the significant financial goal or picture (where you want to be in ten years).

II. Look at what you need to do to get there and do it!

III. Take the steps and actions needed to reach your financial goals. Focus on the positive vibes that come from any of the financial goals you have achieved! Don’t let your mistakes cause you to stop trying to achieve financial success but learn from them. Every goal you reach will help you get to the next goal and the next. Don’t let someone else negatively impact the financial goals that you have set. This can cause stress and can divert your attention away from your primary financial goals for the future.

It’s imperative to know that financial planning is not as simple as creating a goal; it works as an entire system. It is a system that involves reminding yourself of what your goals are and the plans you have to achieve them –and then take the necessary action to work towards them.

I can help you get started. Contact: john. alden@pccwealth.com