soccer_goalTo have direction, you need goals. Do you want to retire uber early? Do you want to pay your kids’ way through college? Do you want to give time and/or money to charities? Do you want to live in a massive mansion? Do you want to travel a lot? Do you want to party all the time? Do you want all of the above?

If you answered yes to the last question, you’re going to have some issues unless you make A LOT of money. Even then, you still might run into trouble. You see, it isn’t possible isn’t possible to afford everything, so you need to rethink things.

Think, what sounds the best to you and it doesn’t have to be something I mentioned. You should probably pick again if you chose massive mansion or partying all the time – just my opinion and this might not be the blog for you. Or maybe it is the perfect blog for you because you should probably rethink your wasteful spending.

So you’ve got your answer(s) now. Here’s another thing to add – you should plan to retire no later than 65 years old. You’re going to want to start there. Also, you’re going to want to think more about your top goals.

How much of your kid’s college do you want to pay for? Teaching your kids to save for college may be great! That doesn’t mean you shouldn’t cover some, but it doesn’t hurt to teach them to have a little skin in the game.

Giving money to charity can be great! Volunteering your time for them can also be great. If you’re trying to retire super early, you might not be able to give much money to charity. You can give more time after you retire though. I’m all for financially supporting good charities, but it’s all about balancing these things.

Traveling a lot can be very expensive, which will affect your other goals. Here’s the secret about travel – it doesn’t have to be super expensive. Sleeping in a tent can be a lot cheaper than staying in a hotel. A lot of places have great free activities – just do some research.

Whatever your goals might be – you need to balance them with what you have. Also, remember that goals can change! For example, here are my long term goals:

Retire in my early 50’s. Travel both now and when I retire. Give generously both time and money to charities – more time and less money after I retire. Keep debt free – besides the mortgage. Have a little extra money set aside in case my goals change.

Once you consider your goals, you’re going to need to live a lifestyle that allows you to reach them! My goals would never be accomplished if I went out drinking every week or if we stayed at five star resorts while traveling. Give your goals some thought, balance them, and next reach for them!