“If you don’t know where you are going, you will probably end up somewhere else.” –Lawrence J. Peter

Goal setting is a fundamental aspect of wealth management, playing a pivotal role in financial success. It serves as a guiding force, providing direction and purpose to individuals and their financial decisions. By setting clear and specific goals, individuals can define their aspirations, identify the steps required to achieve them and maintain focus throughout their wealth-building journey.

Goal setting in wealth management offers key advantages like helping individuals prioritize their financial objectives, ensuring that limited resources are allocated efficiently. Whether it’s saving for retirement, purchasing a home, funding education, or building an investment portfolio, well-defined goals allow for informed decision-making and resource allocation.

Ultimately, goal setting in wealth management is vital for individuals to align their financial choices with their long-term aspirations. By setting goals, individuals can establish a roadmap for success, make informed decisions, stay motivated, and navigate the complexities of managing wealth effectively. Whether aiming for financial independence, legacy planning, or specific lifestyle goals, goal setting serves as a cornerstone in achieving financial well-being and living generously.


Mike Brady, Generosity Wealth Management, a comprehensive full service financial services firm here in Boulder, Colorado.

Today I want to talk about the importance of setting goals. You’re going to say Mike, I hear this all the time, quit nagging. You and society is always saying set goals. All I can say is my experience with clients and those that have clearly defined goals, we write them down and we move towards them. We increase that probability of reaching those goals. That’s just it. Over 30 years that which you hear all the time about goals whether it’s a fitness goal or whether or not it’s other goals in your life, it applies to your financial goals as well. So, 80 percent is just a number that I’ve anecdotally through experience have come up with of reaching your goals as clearly defining them and having a plan in order to get there.

I remember a client who was really worried about retirement and I helped her with her goals such as this is how much you’ve got to save every year and we reviewed it every single year. That was how she reached her particular goals is by being very intentional about it versus being well, I hope this all works out or being lucky or accidental that you actually reach the goal. There is being intentional and there is the well I sure hope this all works out. I’m definitely a fan – and you can sleep better at night if you know what the steps are, the small steps there are in order to get to that goal.

Now, if you’re saying to yourself Mike, I’m really bad at goalsetting. I really hate this. Fortunately, I do it all the time. This is bread and butter for what I do on a weekly and a monthly basis as I’m interacting with clients. I say hey, what are we trying to get to whether it’s short-term goals like buy a house. Maybe it’s your first house. Buy a car. Put your kids through school. Retire. Make sure that you’ve got enough funds for any long-term care needs that you might have. Pass on the maximum amount to the next generation. There’s lots of different goals that we can come up with and how do your investments complement the goals that you’ve come up with.

Anyway, setting goals is very important. I do it all the time working with clients. You don’t have to be the expert. Hopefully, I’m the expert that you can rely on.

Mike Brady, Generosity Wealth Management, 303-747-6455. Thanks.