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PREVIOUS:Individuals should use the SMART criteria—Specific, Measurable, Achievable, Relevant, & Time-bound—when setting financial goals. For example, rather than merely saying that you want to "save money," you could say that you want to save $10,000 for a down payment on a house within three years. In addition to making the objective more attainable, this clarity makes it possible to monitor advancement over time. A sense of accomplishment can also be gained as each step is accomplished by segmenting more ambitious objectives into smaller benchmarks.NEXT:In summary, leaving a legacy requires careful preparation & proactive financial communication with future generations. People can make sure that their legacy lives on long after they are gone, benefiting their family as well as society at large, by arming themselves with values & knowledge about philanthropy and wealth management.
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