WrapManager's Wealth Management Blog
When life changes, we can help you thoughtfully respond.

12 Ways to Define the Investment Goals that Matter to You

Posted by Gabriel Burczyk | CEO
July 13, 2017

Define-Investment-GoalsBeing a prudent saver and a savvy investor can help you accumulate the assets you need for retirement. In some cases, that can mean a formula as simple as saving 20% of all your lifetime earnings and hiring a trusted adviser to build you a diversified investment portfolio.

But for those who want to take the planning process a step further, it can be beneficial to define the investment goals that matter to you. This exercise can provide you clarity to answer not the question of how to save and where to save, but why to save.

Defining the Investment Goals that Matter to You

A straightforward way to think about your investment goals is to divide them into “needs,” “wants,” and “legacy.” We would encourage you to sit down with your spouse and/or family and walk through these 12 questions, in hopes that doing so will provide additional clarity for shaping your investment plan.

Structuring-a_portfolio_to_match_investor_goals_in retirement2.png

Click for larger view.

For Needs:

  • What monthly income will you need in retirement to live comfortably, taking into account day-to-day needs like food, medicine, bills, etc…?
  • Do you have adequate savings to account for rising health care expenses over time?
  • What are the fixed sources of income you have in retirement, i.e., Social Security, pensions, rental income, etc…?
  • Do you own a long-term care insurance policy for you and your spouse? What is the plan for care later in life?


For Wants:

  • What would an ideal retirement look like to you?
  • Do you envision wanting to upgrade your home, or have plans to buy a second one?
  • Do you have plans to travel? How much do you foresee wanting to spend each year on travel?
  • Do you have hobbies or memberships you want to spend money to maintain?


For Legacy:

  • Is it your goal to leave assets behind for future generations?
  • Do you want to leave any legacy gifts to a charity, community organization, church, etc...? 
  • Will you want to help your children, nieces, nephews or other loved one pay for a major life event - like college, a wedding, or a major purchase?
  • Do you want to create a foundation or a fund that should be managed over the long-term?

 If you want to learn more about this topic check out this Investment Planning Guide.

Connect Your Goals with Actionable Investment Plans

By walking through the exercise of answering each question above, you can get a much clearer sense of how much you need to accumulate, and how those assets should be managed over time. At WrapManager, our objective is to help you accomplish each of your goals, and we can help you connect your goals to a specific part of your investment plan. It starts with a discussion. Call one of our Wealth Managers today at 1-800-541-7774 to walk through your financial needs, wants, and legacy plans, and we will create an investment plan that addresses each. 

Goal Based Investing

Investing for retirement ebook