I do not believe in doing New Year’s resolutions, however, I do believe in the power of a fresh start and that wanting to start your goals in the new year is a good thing. I would like to say start now by following one of the three methods of starting goals that’s really about making a habit every single day so you do not break it and it’s about being achievable so you are motivated.

Here are some articles that I wrote that are similar and related to How To Make New Year’s Resolutions?

To help with investing goals you must have a budget so I wrote about How To Make a Budget?

FIRE Movement: Financial Independence, Retire Early

How To Make a Budget? 50/30/20 Method

Compound Interests 101

How To Invest in the Stock Market?

There’s many different types of goal setting.

Clear Future Life Method or CFL 

Say or comment “CFL” so you remember it.

• Write down exactly what you want.
• Write down the date to when you want to acquire the money 
• Write down a rough plan to how to achieve it 
• What are you willing to give to achieve your goal?
• What will I feel when I achieve my goal ?
• Create Vision statement that you look at every day about how you will feel achieving it

For example:

Write down exactly what you want.

I want to invest 10% pass my 401k or ROTH IRA

Write down the date to when you want to acquire the money 

6 months from now or 6/6/2025. This gives me time to cut my expenses down. 

Write down a rough plan to how to achieve it 

1. Cut my expenses by 10%
2. Put 10% of my income into my stock market account
3. Invest my money into stocks.

What are you willing to give to achieve your goal?

1. I am willing to give up going out to eat everyday. 
2. I am willing to not buy stuff that I want.

What will I feel when I achieve my goal ?

I don’t feel more confident in my ability to control my financing.

Create Vision statement that you look at every day about how you will feel achieving it

I’m so happy and grateful now that I can invest 10% of my income into my future.

S.M.A.R.T Goals

SMART Goals is an acronym that stands for:

1. Specific – Clearly define what you want to achieve. Avoid vague or broad goals.
2. Measurable – Make sure your goal can be tracked with clear metrics.
3. Achievable – Ensure the goal is realistic and attainable, given your resources and constraints.
4. Relevant – Align your goal with your larger values, needs, or priorities.
5. Time-bound – Set a clear deadline to create a sense of urgency.

By using this framework, you increase your chances of success by making your goals clear and actionable!

For example:

• Specific: To invest 10% of my income after my 401K or ROTH IRA.
• Measurable: 10% of my income.
• Achievable: 10% is a good starter point to get used to it before doing FIRE.
• Relevant: Investing 10% of my income is relevant toward my goal to retire young. 
• Time-bound: To invest 10% of my income every month by 6/6/2025

SMART Goals means Specific, Measurable, Achievable, Relevant, and Time-bound.

How To Set Goals?

• Write down what you want
• Write down enddate
• Write down a plan
• Review the plan daily

For example

• Write down what you want:

To invest 10% of my income after 401k or Roth IRA

• Write down enddate:

Automatically invest 10% of my income every month by 6/6/2025 

• Write down a plan

Cut my expenses by 10%

Put 10% of my income into my stock market account

Invest my money into stocks.

• Review the plan daily

Cut my expenses by 10%