MMP136: Setting Multiple Goals

If you have more than one end goal for your investing, it can confuse your plans a little. Should you have separate investment pots for each goal? Different portfolio risk strategies? How to go about setting multiple goals is a question I was asked by one of the respondents to my 2015 listener survey, so I thought I’d strike while the proverbial iron is hot, and answer this one right away…

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In this session you will discover:

• Which variables you should bear in mind and which you should ignore when setting goals
• Why it's important only to think in today's money
• Why overthinking your goals setting is counterproductive
• How to separate long term from short term goals
• Which tax wrappers will best serve what kinds of goals
• How to build the underlying portfolio including asset allocation suggestions
• The one thing you shouldn't do when working to achieve your goals

 

Resources mentioned in this show

Podcast: Session 111 - Setting Targets Podcast: Session 106 - Risk & Returns MeaningfulMoney 2015 Survey

Finally, I have put together a cheatsheet which gives you an idea about the kinds of asset allocations you can use for different risk profiles and different timescales.

Join the conversation

I love to read and respond to your comments, so please do join in and share. Question: How have you managed different goals and timescales? What have you learned in the process?

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My thanks to AussieBoyUK and Simon Poulter for their reviews this week!

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