I am struggling to set investment goals. When it comes to making such life changing decisions, I am the embodiment of the words unsure and doubtful.
I used Vanguard‘s online template as a starting point to learn how to set clear, precise and realistic investment plans. The site has a sample layout of well-defined investment goals that I used as a guide to set up my own plans and strategies.
Writing a plan was harder than I anticipated. I had to ask myself the real reasons for my interest investing. It became something akin to soul-searching because I had to dig deep inside me in order to put everything on paper (word document, I mean).
My goals, compared to that thought-out template, seem too elaborate and unattainable. I have numerous goals that I am using as a set up for the type of investments I want to make. Moreover, each goal has an action plan set to achieve it. My document is more that 3 pages long and it gets longer every time I revisit it. It seems incomplete every time I read it. Will I ever finalize it?
There is a lot of emphasis on the importance of setting clear goals that you can follow for you to be more successful with everything in life. I wonder, however, if plans should be more dynamic to allow for growth. Of course, I may be saying this because I want to justify changing my plans all the time.
I wish I could talk to someone who has experience in the business of investing. Preferably someone with more than 30 years of experience. A person who has survived all the market cycles without losing too much. I could buy a book and learn from its author, but it is different from having a face to face conversation.