As a team, we keep discussing interesting aspects after every goal-setting meeting we have with our clients. It is really interesting and heart-warming at times, to understand what lies in the minds of an individual and their family. It’s like a deep dive into the experience of a person’s life, quite exhilarating, a lot of times.
There are normal goals most families have like education for kids, their wedding, retirement, buying a house, buying a car, regular vacations and so on. Here, I would like to list down pretty unconventional goals that I have come across. Do let me know your unconventional goal, in the comments section below.
Taking a 1 Or 2-year sabbatical (break) from work
I need to just be away from all this hush-hush of life, reset my thoughts, contemplate what I should do for the rest of my life and restart. These were the exact words that I heard from the client. Conventionally, taking a break can be for sharpening your skills / studying further as well. What’s your reason?
A road trip from India to Europe !!
Yes, you might have read about some people doing this on a bike, crossing around 15 + countries and back. Currently, it’s rare and gets highlighted in the newspapers, but these things are set to be commonplace in the near future. So if you want a road trip like this one, planning now can help, just like one of our clients wants to. He has worked out the cost to be around 35 lacs including the super-bike and is targeted to get there in the next 4 years!!
Send parents for a world trip
You’ve done really great in your life and want to give back. Well, the first thing you may want to do is give back something to the people who gave it their all to make you reach where you are now. They sacrificed their wants for you. What could be a better way to plan a trip of a lifetime for them. This goal when achieved can be one of the most fulfilling experiences for any son/daughter.
Reach financial freedom by age 45-50
Financial freedom is not retirement exactly. It means having enough income/ money to cover your daily expenses as well as help you achieve financial goals, for the rest of your life. The space you can be once this is attained will enable you to freely explore your passion in life and fetch you quality time forever !!
Leaving a legacy for kids
“Kids are my life. A lot of us believe and live out of this statement. I want to leave a 5 crore house and almost an equivalent amount in assets for my kids”, said a client. “I want to leave a legacy so that my daughter starts her life with great confidence and can pursue her passion.” – this can happen with financial freedom!!
Philanthropy – giving back to society
Do you want to build a home for orphan kids or for senior citizens, or build a Gaushala? Do you want to create a charitable trust in your parents’ name so that they are always remembered? Such goals are now planned. Kudos !!
Holiday home in Goa / Switzerland
Having a home away from home is what I want, this can help me rejuvenate at my favourite destination from time to time.
What’s more? It can be a good investment option as well. Which is your favourite second home destination?
Building corpus for higher education
This goal is not necessarily for the young. A lot of people are now gearing up to actually catch up with the young. To be more relevant in these rapidly changing times you may choose to take up a master’s from an overseas institute. Yes, it requires quite a capital investment but the upliftment in skills and salary can be a great investment!!
Startup for Self / Spouse
Knowledge and ideas are the new assets. Yes, good ideas get funded but it will need seed funds to start. So you have a great idea and you know that it will give a new solution to existing problems in your field, so it’s time you start planning to accumulate Rs.20 lakhs as seed fund in the next 5 years. This is an example of how a well-thought plan can change your life !!
Well, do you think having too many goals in life makes you feel stressed for the want to achieve them? My view is this: having goals in life is not bad until you take too much pressure off it. Having a stable mind, believing and using your abilities as best as you can is what’s required. Do dream on, put your dreams to practical numbers and set out to achieve them. After all, the universe will give you what you attract dedicatedly…go for it!!
Author: Mr. Nirmal M Jain | Mr. Nirmal M Jain is a Co-Founder at HappyWise Financial Services. He has helped over 100 Families over the last 15 years of his services in the Financial Planning Sector. He has been a mentor to several people to help them better understand investments, stocks, mutual funds, financial planning, personal finance and above all his favourite term “The Power Of Compounding!”.