As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

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Saturday, 13 May 2017

Why Do You Have To Set S.M.A.R.T Investing Goals???


Read? The Goal Is To Have No Goals, But To Have...

1. When you have goal, the route to it becomes a labour. Put it another way, it is too linear and anything linear is hardly fun or interesting. 

2. The imagination becomes closed to other possibilities. A goal limits your actions. There isn't room to explore other pathways. 

3. The goal usually need to be precise and has time-limit. This is exact reason why goals backfire - they encourage us to focus narrowly.

As retail investors; you are answerable to nobody except yourself and also there are no bosses to set S.M.A.R.T Goals or KPIs for you to achieve and reward you accordingly.

Why do you have to set S.M.A.R.T investing goals for yourself?

For investing goals; you avoid acting smart and be dumb by setting Stretch Goals or Band Range Goals.

Like Uncle8888 setting his 10-years investing goals




For his F.I.R.E Goal; when he made it! Of course; he Bom Pi Pi and tells everybody it is the way he has made it.

Once you are successful; you can say whatever way you like it and how you have made it. 

Goals or No Goal is irrelevant!

Just show your big number. You are likely to get Wow!

So you either set F.I.R.E Goal for yourself or naturally you will get fired when time comes.

You will one day be fired from your full-time job either involuntarily through retrenchment or statutory on your official retirement age.

Of course; you can set F.I.R.E Goal; when you made it you Bom Pi Pi; but when you don't. You still naturally be fired! This is no big deal as you don't have to answer to anybody. Right?





4 comments:

  1. See it, Believe it and Act on it..... Patti Dobrowolski

    https://www.youtube.com/watch?v=4vl6wCiUZYc&list=PLNwIaO_AzXzsBmEEfCVlwi9BKa9TIdAN9

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    Replies
    1. Good video!

      Too many people somehow pause on Act on it.

      Setting Goals is easy. Believe it is not that hard; but finally persistently Act on it till that Goal is achieved. Fewer can achieve their set Goals and then bom pi pi. :-)

      Delete
  2. CW,

    LOL!

    Its a joy to see the transition in you over the years ;)

    Now goals are irrelevant!?

    Woah! Slow down tiger!

    Baby steps.

    Good, start with less "precision". Broad range is a good start. Slowly, your goal settings will be more and more vague and fuzzy.

    Once they become indistinguishable from dreams or visions, you may want to dump the sampan you've been carrying ;)





    ReplyDelete
    Replies
    1. Grasshopper seeing Antshoppers as its relative ah?

      Delete

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