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​“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”- Benjamin Graham

​Investments is a journey, and it only makes sense if you know your destination.

‍“No one can get anywhere unless he knows where he wants to go and what he wants to be or do. ” —Norman Vincent Peale.

​So then, the starting point of the investment journey is to write down your key objectives. All goals and objectives must follow the SMARTER goal setting frameworks so as to create sufficient and comprehensible goals and action plans to reach those goals. When setting one’s financial goals the following factors determine the goals you come up with:

​1.    Self-awareness: Knowing what really matters to you helps in prioritizing your investments and many other things in life. This is because we have competing needs with limited resources. You want to make sure that after you have implemented your investments you can look back and be happy about your choices.

​2.    Available resources: Resources do not only mean the cash and the assets you have, you might need to look deeper into the time and relationships you have and see how they can help determine the goals you set and also how well those goals can be attained. Goals vary depending on the resources you can access.

​3.    Knowledge: The understanding of the things that one would like to attain and investment options available helps determine one’s goals and also the path that they can use to achieve that which they set out to. It is therefore important that one invests in knowledge building as it expands their overall horizon.

​4.    Relationships: human beings are social by nature. The person you become is influenced by the people you hang around. It is therefore important to ensure that you are around people who inspire you to create goals that stretch and make you a better person. Also, the investment options you end up with are influenced by the people around you so always choose well.

​Goal setting is the starting point of any successful investment journey. It is good that you have someone help work with you set the goals and also walk with you as you implement the investments.  If you need help with goal setting reach out to us on Liz@elizabethnkukuu.com

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