Game Plan Strategy: August Financial Checklist

This Month’s Focus: Are These Really Your Top Financial Goals?

If I asked you to name your top 3 financial goals, what would you say?

Most people can answer pretty quickly. But here’s something interesting: When given a broader list of goals to look at first, 73% of people changed their answers.

It’s not that the first answers were wrong. They were just whatever was top of mind—not always what mattered most.

Why this Matters:

The clearer we are on what really drives you, the better we can shape your plan around what matters—not just your money, but your life.

Here’s a quick exercise you can try:

1. Write down your top 3 financial goals.
2. Now review this list of common goals.

List of Common Financial Goals:

• Build wealth
• Support my family
• Pay for kids’ /grandkids’ education
• Buy a home
• Be financially independent
• Retire comfortably
• Give to causes I care about
• Help our kids’ or grandkids ‘with a home down payment
• Travel or enjoy new experiences
• Start or grow a business
• Leave a legacy
• Minimize taxes
• Feel more in control of my finances
• Reduce stress about money
• Be prepared for the unexpected
• Maintain our current lifestyle in retirement
• Pay off debt (eg, mortgage, credit cards)
• Plan for future healthcare or eldercare needs as we age
• Provide support for our aging parents
• Making sure my spouse is taken care of when I am not around
• Avoid being a burden to our children 
• Sell or transition my business or professional practice
• Have a clear estate plan and up-to-date documents

3. Looking at the list—did anything new jump out?
4. Go back and write your top 3 again. Did anything change?

It’s a simple step, but it can lead to big insights. 

Let’s Talk Strategy

If you’d like to review your plan or have questions about anything on this checklist, we’re here to help.

Book a quick strategy call here or contact us directly.

Best regards,
Jack Lumsden, MBA, CFP^®. Financial Advisor, Assante Financial Management Ltd.

Source: “Uncovering Your Real Goals,” Steve Wendel & Samantha Lamas, Morningstar (2019)

This article is based on research into how people identify financial goals—and how a simple shift in approach can lead to better planning decisions.

The opinions expressed are those of the author and not necessarily those of Assante Financial Management Ltd. This material is provided for general information and the opinions expressed and information provided herein are subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on the information presented, please seek professional financial advice based on your personal circumstances.

What To Do Next

Are You on Track with Your Retirement Strategy? FIND OUT TODAY!

For more information, refer to Preserving Wealth: The Next Generation – The definitive guide to protecting, investing, and transferring Wealth by Jack Lumsden, MBA, CFP® or schedule a call with Jack at 905-332-5503