Here is the transcript if you would prefer to read!
Hello, and welcome to the ithoughtwealth podcast.
The topic of today’s podcast is ‘What Happens When You Invest Without Goals’. What do we mean when we use the term ‘Goal’. A goal is something that gives you a clear direction in which you should plan your investments. Here we try to define a specific purpose for your investments, and also set a target to achieve within a certain span of time.
Now why is it so important and what happens when you invest without goals?
This can be looked at in 2 parts, the first is when you get started:
- No clear structure to selecting investment avenues – not choosing the right assets, straying away from certain asset allocation and making frequent changes according to market conditions.
Then, the next aspect is how things go as you move along on your investment journey:
- No way of measuring progress
- Lack of motivation to stay on course – Due to market conditions or personal financial situation
So on the flip side, what happens when you do follow a goal-oriented approach
Essentially, you will be able to tackle all the challenges which we covered so far, whereby:
- You will know how to structure your investments across multiple asset classes
- You will not panic during market volatility, knowing that you have a certain vision with which you started the investment
- You will be able to measure your progress and know whether you are on track towards your aspirations
- And knowing that you are progressing towards your goals, you will be motivated to add surplus savings and grow more wealth than what you initially thought!
Thank you for tuning into this podcast. If you would like to know more about how you can plan your investments in a goal-based manner, we would be happy to connect with you. You could call us on +919384802285 or email firstname.lastname@example.org.
Looking forward to hearing from you!