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Point of View Archive

Point of View: The Importance of Having Goals


The process of setting goals and putting a plan of action in place to achieve them is probably the single most important step someone can take towards success in life. Imagine setting out on a long journey without a clear idea of your destination and some map or plan of the route. Life is our greatest journey and yet often we have no idea of what we want to achieve, the things we would like to do and the lifestyle we could aspire to.

A famous study was done by Yale University in 1953. They interviewed the graduating class just before they left school and found that only 3% had a clear plan for their lives with a specific set of goals. In 1973 they went back and interviewed the surviving class members of 1953. They found that 20 years later the 3% that had a set of written down goals seemed happier and more excited about their lives. The one very measurable thing was that the 3% were worth more financially than the other 97% combined.

If goals are so important why do so few people have them? The main reasons seem to be lack of time, not knowing how to start and fear of failure.

At Sanlam we can help. Our advisers can help you start thinking about what you want to achieve in life. We then look in detail at what you need to do to reach your goals and help you put an action plan in place. Finally at our review meetings we check your progress and help make any adjustments needed to keep you on track.

Setting goals should be fun. After all it’s a chance to think of all the things you would like to do in life. Goals enable the mind to focus on what you want to achieve. Once this happens we are able to break through obstacles and take advantage of opportunities that arise. The power of this approach has to be experienced to be believed.

Napoleon Hill 1883-1970 who is regarded as one of the greatest writers on success sums up the power of goals with this famous quote “What the mind of man can conceive and believe it can achieve”. He made an extensive study of over 500 of the most successful people of his time, including Thomas Edison, Alexander Graham Bell, John D Rockefeller and was adviser to two presidents of the United States of America, Woodrow Wilson & Franklin D Roosevelt. The one difference he found between this group of elite achievers and less successful people was that the above group all had clear set goals and a plan of action to achieve them.

So why not take the first step towards living the life of your dreams and set yourself some goals today?

If you require advice on financial planning, please do not hesitate to get in touch. We'd love to hear from you. Email letstalk@sanlam.co.uk.

Date issued: 27.05.15

Please remember any views or facts expressed above are based on information received from a variety of sources which we believe to be reliable, but are not guaranteed as to accuracy or completeness. Any expressions of opinion are subject to change without notice. None of the information should be regarded as advice. Past performance is not a reliable indicator of future results. Investing involves risk and the value of investments and the income from them may fall as well as rise and is not guaranteed. Investors may not get back the original amount invested. Any tax treatment is dependant upon individual client circumstances and may be subject to change.

Sanlam is a trading name of Sanlam Wealth Planning UK Limited (Reg. in England 3879955) and English Mutual Limited (Reg. in England 6685913). English Mutual Limited is an appointed representative of Sanlam Wealth Planning UK Limited which is authorised and regulated by the Financial Conduct Authority.

Registered Office: St. Bartholomew’s House, Lewins Mead, Bristol, BS1 2NH.

Investing involves risk and the value of investments and the income from them may fall as well as rise and are not guaranteed. Investors may not get back the original amount invested.