In the first post of our Refocus Your Wealth series, we redefined Wealth as something more expansive than money: a life of flourishing. In the second, we explored how freedom becomes a cornerstone of Wealth. Now, we move to the practical: goal setting as a tool to intentionally build a Wealthy life.
True Wealth involves designing a life rich in joy, purpose, and meaningful connections. It’s about intentionally sculpting your experiences to align with your values and passions, nurturing relationships that uplift you, and pursuing what fulfills you. Focusing on these elements creates a foundation for a life that feels abundant and rewarding.
Reflecting on What Truly Matters
Before diving into calendars and checklists, step back and reconnect with your personalized definition of Wealth. Ask yourself: What brings me happiness and fulfillment? In which areas of my life do I want to grow and thrive? Finally, ask yourself: How do I picture a successful life outside of monetary terms?
These aren’t rhetorical questions. They form the basis for the decisions you make each day! Take a moment to write down your answers and revisit them often. As we discussed in our blog on creating a vision for your financial life, clarity is often the catalyst for confidence.
Build SMART Goals That Reflect Your Definition of Wealth
Once you’re grounded in your vision, it’s time to set goals that move you forward. The SMART framework is a helpful tool here: Specific, Measurable, Achievable, Relevant, and Time-bound. Here’s what each of the pillars means:
- Specific: Instead of “I want to be healthier,” aim for “I will walk 30 minutes, five days a week.”
- Measurable: Track your progress. “I will read one book per month on personal growth,” gives you something to celebrate and evaluate.
- Achievable: Make your goals realistic. A goal that feels overwhelming will only erode motivation.
- Relevant: Choose goals that speak to your core values. That point remains true whether it means nurturing friendships or building financial resilience.
- Time-bound: Set a deadline. “Plan a weekend getaway within three months” is far more actionable than “travel more.”
This framework helps ensure your efforts are focused and forward-moving. Goals become more than to-dos. They become stepping stones toward the life you envision.
Toward Cultivating Holistic Wealth: Four Dimensions
As we’ve emphasized throughout this series, Wealth spans four core dimensions: Social, Health, Freedom of Time, and Financial Confidence. Your goals should reflect that breadth, because a truly Wealthy life attends to all of who you are. Here’s what each means within the context of the Holistic Wealth we’ve been exploring:
1. Social Wealth is built through strong, supportive relationships. Harvard’s 85-year Study of Adult Development found that close connections are the biggest predictor of lifelong happiness and health. Whether it’s dinner with friends or regular check-ins with family, prioritize meaningful connection.
2. Health Wealth means caring for your physical and emotional well-being. We have long known that regular activity, sleep, and nutrition all contribute to a longer, more satisfying life. Small, consistent habits such as daily walks or weekly meal prep add up to lasting energy and resilience.
3. Time Wealth is about aligning your schedule with your values. Studies show that many people who prioritize time over money report greater life satisfaction. Even reclaiming an hour a week for something that fills you up can be transformative.
4. Financial Wealth supports your freedom, not just your future. According to FINRA and the Global Financial Literacy Excellence Center, financial wellness correlates with lower stress, and lower stress often means better health. Set goals that reflect what matters, whether it’s saving for a milestone, reducing debt, or funding your passions.
Make Time to Revisit and Realign
You should review and adjust your goals regularly. Life can change rapidly, so consistently revisiting and modifying your goals is vital. Set aside time monthly or quarterly to evaluate your progress, celebrate and track your achievements, and realign your objectives as needed. Flexibility is key to maintaining motivation and staying on track with creating a Wealthy lifestyle.
Another powerful motivator is visualization. Consider creating a vision board that illustrates your goals and dreams related to your Wealth definition. Include images, quotes, and representations of what you aspire to achieve. Place it somewhere prominent to serve as a daily reminder of your ambitions.
Finally, the most crucial step in this process is to take action. Every journey begins with a single step. Start with small, manageable actions to bridge the gap between where you are now and where you want to be. Whether organizing an outing with friends or enrolling in a new class, take proactive steps that reflect your aspirations.
Setting goals that align with a broader understanding of Wealth allows you to create a fulfilling life rich with experiences, relationships, and purpose. Concentrating on elements beyond financial metrics can cultivate genuine satisfaction in your life. Start designing your Wealth through intentional goal setting today, and step confidently toward the vibrant life you envision!
Final Thoughts
This series is about empowering you to reclaim the definition of Wealth and shape it with intention. If you’ve followed along from the start, you’ve done the hard work of redefining Wealth on your own terms and understanding the importance of freedom. Now it’s time to act.
Write down one goal you want to achieve in the next six months that reflects your version of Wealth. Choose something that nurtures one (or more) of the four pillars: Social, Health, Freedom of Time, and Financial Confidence. Then, mark a date on your calendar to check in on that goal.
When that goal is complete, set another. Keep going. The life you want isn’t built in a day. It’s built in steps.
And if you’re looking for a partner in that journey, the team at Magellan Financial is here to support your goals, not just your finances. Because at the end of the day, true Wealth is not measured in dollars—it’s measured in days well lived.
Sources:
- Good Genes Are Nice, But Joy Is Better (Harvard Gazette, 2017)
- Valuing Time Over Money Predicts Happiness (Science Advances, 2019)
- Financial Anxiety and Stress Among U.S. Adults (GFLEC.com (in partnership with FINRA), 2021)
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Magellan Financial Inc. of Heirloom Wealth Advisors is a separate entity from WFAFN.