Yogi Berra could have been talking about financial goals when he said, "You got to be very careful if you don't know where you're going, because you might not get there."
Socking away $10 each paycheck won't cut it if you're looking forward to traveling the world and living the high life during retirement. On the other hand, if a rustic cabin and communing with nature is more your style, saving millions simply crimps your current life style and leaves money for your heirs.
Take some time to
identify
what you really want in life:
your own home, a
comfortable retirement, college
for your kids, time to volunteer
or a wing at your alma mater with
your name on it.
You need to have a handle on all of that before you
can figure out how much you can
save and the
goals you can afford. Fortunately,
thinking about your goals helps
you stay motivated to save.
