Make SMART Goals for Investing

I am a firm believer in setting goals in every facet of your life where you want success.  If you do not know what your goal is, how do you know when you get there?  If you are wishy-washy and have a devil may care attitude, you will just be meandering through life with no direction and no purpose.  I am sure you have heard the phrase, “Fail to Plan, Plan to Fail”.  It is a cliché that rings true.  Goals will help your plan become reality.  In a previous blog I had written about one of my favourite books, “Think and Grow Rich” by Napoleon Hill.  There is one amazing quote in that book that resonates with me.  “Vague goals produce vague results.”  To get definite results, have clearly defined goals and that can be done by using the SMART system for goal setting.

Simply put SMART is an acronym that stands for Specific, Measurable, Achievable, Realistic, and Timely.  Incorporate these items into your goals and it will help you get your desired results.  At twopercentgoal.com we are doing just that.

My big picture goal is to try to double my money risk free in the stock market each year with little to no risk.  How do I do that?  By being a swing trader obtaining a two percent gain per week.  Two percent per week times 52 weeks is over 100%.  The goal is Specific.

Is it measurable?  Of course it is.  It is basic math.  If you buy a stock for $100 and it rises to $102, that’s a two percent gain.  The goal is met.  It does not get any clearer than that.

Is it achievable?  Very much so.  It is attainable and not impossible to accomplish.

Is it realistic?  It is within reach and certainly relevant to my life purpose.

How about timely?  I am trying to do each transaction within a week.  With a clearly defined timeline, the purpose is to create urgency.

Money means a lot of different things to people.  This can be an entire blog topic unto itself.   It can be a means to an end by paying the monthly bills or it can be used to get the big-ticket items that you have always wanted like a house, a fancy car or a luxury vacation.  But to me, it means freedom.  To do what I want, when I want.  This is my personal, ultimate motivator and that is my passion behind twopercentgoal.com.  Good luck to you and your investments but have a specific plan and have specific goals.

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Cheers,

Al

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