Before starting pursuing our #imapGoal, the first thing we need to do is understand our own nature. Each of us has different personal circumstances, context and psychology, so identifying and making us aware of them will allow us to start our journey in the best way possible.
In this post we will be talking about what we need to look at when thinking about our own personal circumstances.
To set a financial goal, we need to think in our age and when we expect to achieve the goal, as it will give us a measure of the time that we have to achieve it.
Another thing we can look at is how much money we have saved that we can use to start our journey, what we call our piggy bank. As we will need to input money regularly to move on towards our #imapGoal, we will also need to know our savings power, that is to say, how much money would we be able to top up along the journey. You can learn more about how to find out your savings power here.
As we don’t know what can happen in the future, building strong defence lines to face unforeseen will give us the freedom to make decisions out of obligation, as we will be able to follow our plan and not being influenced by external factors. To do so, before starting the journey we can build a savings safety net to cover several months of expenses when we lose all or part of our income (you can learn more about it here). Obviously, having employment that provide us a regular income would add stability to our journey.
Another thing to look at is our preparation for this journey in terms of knowledge and experience. Understanding what you are doing is critical to achieve our #imapGoal, specially how the products that we will be using work. Experience is always an added value to get confidence in what we are doing and to avoid mistakes, but if you don’t have any, it’s no problem, we are all here to share ours with you.
Finally, the country where we will be operating is important to know which benefits we could take from taxes and which type of investments and products we have available.
In #imap we take all this information into account to help us set the goal, control the risks, track the progress of our goal, and much more, getting personalized information.
Next, we will learn about what we have to watch in our context and how it affects our journey towards our goal.
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