This is the first step. Most people don’t know exactly what they are going to do in retirement or exactly where they are going to live. But without at least a basic goal, you won’t know how much you should be saving each year for your retirement or your child’s college education.
Your goal(s) can be very detailed or broad. In the beginning, it really doesn’t matter. What matters is that you have goals and that you write them down. It’s also never too late to start planning for a financial goal. If you have a belated start or don’t really know what you want, that is okay because goals change, lives change and what’s important changes. However, what doesn’t seem to change is people wishing they had started goal planning and financial planning sooner.