If you haven’t used the SMART process for setting goals in your life or business, then you probably don’t know what the acronym means.

S   – Specific

M – Measurable

A  – Attainable

R  – Relevant

T  – Time-bound


What exactly will be accomplished and by what means?


How will your goal be quantified? What figures are you measuring?


Perhaps most important, the goal must be able to be accomplished via the skills and resources you possess or will possess.


Does this goal align with your other goals?


You need to have a definite time this needs to be completed. Why? To keep you on track, so the goal doesn’t revert to being a dream.

Now that you understand the concept, let’s put it to use with a scenario.

I’m a 45-year-old who has recently become debt free and knows I must begin funding my retirement now.

An example that is NOT specific – I want to fund my retirement……

Specific – In retirement, I want to be able to afford to travel, golf, go out to eat, and pay for all my bills with some leftover cash to enjoy any opportunity that arises in my golden years.

Measurable – I need to draw $2,500 a month to live comfortably in retirement. This combined with my $1,500 social security check will fund my travel, country club membership, other leisure activities.

Attainable – Am I able to accomplish this with my current income and about 20 years of investing left until retirement?

Relevant – Yes, this lines up perfectly with my life-long goals: I want to one day retire and be able to do what I want (within reason) and be comfortable without worrying about my life’s savings vanishing before I do.

Time-bound – Yes, I know when I need to accomplish my goal, even down to the month 20 years from now. With my back against the wall with time left, I know this will allow me to stay more focused on what needs to be done.

It looks like my SMART goal has met all criteria, except for attainable, I don’t have an answer for this one, how do I determine whether I can accomplish this goal?

By reaching out to someone at Masters Financial Group of course! Let us help you to know for sure if you are on track to financial peace in retirement.