NerdWallet: How to create a meaningful financial plan

This article is reprinted by permission from NerdWallet.

All financial planning starts with setting goals — coming up with a wish list of concrete objectives with price tags and “achieve by” dates. If X costs this much, you need to save Y each paycheck for Z years to pay for it.

It’s a great approach for things like homes, cars, new roofs, college tuition and retirement planning. Set a target, save, invest, measure progress, lather, rinse and repeat. But sometimes it completely misses the mark.

You scrimp and save, hit a financial milestone for that thing that you thought your heart desired and are left feeling…completely unfulfilled.

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