New Chapter & Updated Goals
Birthdays are a great time to reflect on the past year. Each year before my birthday I spend time reflecting on my previous goals and accomplishments. Most people create goals around the New Year. However, I find myself more motivated to create goals surrounding each year of life. As October 12th approaches, I am reminiscing on the past and creating goals for the year and even years to come. The goals I create sometimes are created with SMART goals in mind. They are specific, measurable, achievable, relevant and time bounded. Nevertheless, not all my goals are created to that specific concept. I choose to include dreams that may be considered ‘farfetched’ and that’s okay. They say if your goals or dreams don’t make you feel scared then you need to start thinking bigger.
The goals I have created for my thirties have a huge focus on my finances. I want to create a better financial situation not only for myself but for those around me. My financial goals consist of building generational wealth, increasing my monthly savings amount, investments, and a few other items. My siblings and I have recently been discussing our plans to set my mom up for retirement, although that’s about 11 years away. This is something we want to start working on. My sister and I have been working on a five-year plan that I am really excited about. Our goals are to set our mother up financially where she is able to retire comfortably. As mentioned, I have some investment goals. I would like to purchase an investment property within the next couple of years, as I am already a homeowner. I became a homeowner in my early 20s. Homeownership fell into my lap, which is a story that I plan to share soon. I would also like to gain more knowledge on stock investments and get comfortable purchasing stocks. I have set up an account with Wealth Simple a few months ago and I haven’t made any use of it as of yet.
Another financial goal that I have is increasing the amount I save monthly, which really only requires me to delete the Zara app on my phone. Zara is my financial downfall, like many of y’all I’m addicted. I currently have automatic transfers from my account to a saving/investment account. I don’t have quick and easy access to the account. To release funds for emergencies reasons, I have to contact a specific individual. I appreciate having a savings account. It has saved me a couple of times, including when I immediately needed new breaks for my car. Having a savings is great for those unexpected costly emergencies. I have experienced in my late teens and early 20s having a lack of saving when I was in desperate needs of funds. If you are not saving, I highly recommend that you start today.
My financial goals going into my thirties are tied to the idea of building generational wealth. I want to be able to past down my wealth/assets to my son and potential future children. I want my children to inherit wealth that can be passed down to their children. Whether that wealth is from investments or businesses. To build this generational wealth another goal in my thirties is to acquire multiple streams of income. Currently, I am a full-time student completing my master’s in teaching, which I will complete in April 2022. I plan to work as a teacher after, However, I do have a business idea I am working on that I can hopefully share with you all soon. I also want to take Sincerely, Shan to another level by turning it into my personal business.
So stay tuned as I share this financial journey. Comment below and share some of your financial goals with me. Let’s chat!