My financial goals

Defining your goals and objectives and putting them into a framework of short, medium and long term is the first step in drafting a financial plan.

With clear goals and an understanding of your capacity for risk, you can make the most appropriate investment decisions for each stage of your investing journey.

Why is a financial plan important?

Financial planning:  a case study

A short case study from the Financial Planning Association Australia.

Do you have enough saved for your financial future? Check out this video from FPA.

About financial planning

If you could achieve your financial goals by simply putting money in the bank you wouldn't need a financial plan. Unfortunately life is a little more complex.

Explore the Financial Planning Association of Australia website to learn more about what to expect from the financial planning process.


Setting financial goals

Identifying your goals

Check out FPA's information on making sure you have the right goals for your stage of life!

Steps to setting financial goals

Goals are simply things that you decide you want to achieve in a certain time frame. Time frames for your goals are an important factor in deciding which investments are suitable to help you reach those goals and they will often depend on your stage of life.

You can have goals that are short-term (e.g. saving for a holiday), medium-term (e.g. saving for a deposit for a house) and long-term (e.g. saving for retirement).

Choosing investment goals

You can't choose the right investment strategy until you're clear about your investment goals and timeframe.

Setting financial goals

Setting meaningful financial goals may be the smartest thing you do that will provide you with financial security and freedom in the future. Learn more about setting financial goals.


How do I turn my goals into a plan?

Develop an investing plan

ASIC's Moneysmart says that putting a plan together involves developing strategies and choosing the right investments.

Eight steps to create a DIY financial plan

A simple approach from Switzer Daily to help you create your own basic financial plan.

12 Tips to organise & manage your finances

Having a financial plan in place is key to creating a better financial future.

DISCLAIMER

This material provided (and related communications) is provided for information only. No responsibility or any form of contractual, tortious or other liability is accepted for decisions made on the basis of the information contained herein.
Nothing in this section (or related handout) is intended or should be interpreted as being investment advice. Investment advice can only be obtained from persons who are licensed in accordance with the Corporations Act.
Views expressed here do not necessarily reflect ASA policy. ASA does not endorse or favour any specific commercial product or company.
ASA is often able to negotiate discounts or benefits for ASA members however the inclusion of discounts or advertisements in products and services, on the ASA website or within other ASA communications does not constitute an endorsement for the products, services or companies mentioned.