I spoke to a lady that had started businesses, bought real estate, had a nice car, lives in a large city, and “had goals.”
When pressed to outline those money goals, she simply said, “I want money to create more money.”
In part, she made complete sense, since it’s the basic principle of investing. You have to invest money so it will grow.
Yet, in other ways, she was lost.
Without tangible goals for the money, then when does that creation-cycle end?
We all know where it will end. By then, you may be rich, but what good does that do for you?
Understanding where you want to go will help you plan your financial strategy today. Those goals may change as life progresses. Having goals allows for the plan to change.
Simply compiling money for the sake of money ensures you never reach the one impossible goal you set.