A new year often brings with it a sense of renewal, a fresh page onto which we can set new goals or refresh existing ones. That newfound sense of promise can be an inspiration, lifting our energy and focusing our attention on a new pursuits, often centering on our own self-improvement or future success in life, health, business and finances.
The difference between a dream and a goal is a plan
Alas, there’s usually one problem with these New Year’s resolutions: we rarely see them through, with our initial enthusiasm fading when the reality of the effort required to achieve them hits us. According to research from the popular running app Strava*, 80% of resolutions are dropped by January 19, lasting only slightly longer than the champagne bubbles on New Year’s Eve that likely inspired them.
However, the same research showed that those who established a plan significantly boosted their chances of achieving their goals. Important to a plan’s success is ensuing that it has clear, measurable and achievable goals, and that it is periodically revisited to make sure it is still working for you.
C.A.R.E.: Goal-setting and planning
As stewards of your wealth, we care about you and your journey to achieving your new, existing or refreshed goals. An important first step in the process begins by engaging with your Investment Counsellor to establish or refresh your wealth plan, ensuring that your goals are clearly articulated, measurable and achievable.
Using the structure of C.A.R.E. is an easy tool to guide you through the goal-setting and planning process (and may even inspire you to consider other goals and aspects to your planning):
While the list of questions above provides a broad guide to help you review your goals and priorities, you may choose instead to meet with your Investment Counsellor to start the process with them. Either way, taking time to establish what matters to you and reviewing how you might achieve those things is always an important investment in your success.
We can help
Your Investment Counsellor has access to RBC Wealth Management’s Family Office Services team. With over 200 professionals to call upon in such areas as financial, tax, business succession and Will and estate planning, as well as life care planning, aging and caregiving guidance, your Investment Counsellor can help you achieve your life resolutions and goals with the care and consideration you deserve.
*Quitters’ Day: Why Strava thinks you’re about to give up your resolution, Madeleine Kelly, Canadian Running Magazine (January 2020).
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