The Evaluation of Smart Goals: Example Study

Setting a SMART goals means anyone can elucidate their schemes, goals, and plans, emphasis on their efforts, using their time, energy, and resources effectively, and expanding their chances of attaining what their want or need in life. In smart goals essay we will give the evaluation of Alice's financial planning goals.

SMART is an effectual or productive device that supplies or established the elucidate, emphasis and stimulation and drive one needs to attain his or her goals. It can also help boost and enhance their capabilities or potentials to gain them by motivating someone to outline or clarify their aims or purposes and setting a consummation date. SMART goals are not difficult but very easy to be use by anybody, any place, without consideration of any training whatsoever.

A summary of Alice financial planning process is followed up as an example, Alice’s goals are to pay off her student loans, purchase a home and save for kids education, accumulate or gather assets, retirement and traveling round the world in a sailboat. At this moment, for the evaluation or assessments on Alice’s goals there is a need to use the S.M.A.R.T. Planning Model Framework.

Specific: setting a specific goal is very important in every angle of life, so Alice’s goal is specific because after graduating from college , her short term goals are to earn some revenue in order to supply her living costs, such as food, clothes, house rent, gas, entertainment, and so on so forth and to pay off her student loan $53,000 within two years. Later, after achieving the temporary or short term goals, within two to ten years, Alice intermediary goals are to accumulate or gather assets, purchase a house since Alice would have a family within the next years, and save surfeit money for her kids education expenses. Her origin of revenue for her intermediary goals will also be the surfeit savings of her yearly salary. Lastly, at her long term goals, she will retire at an old age and obtain, acquired, and procure all of the revenues from their accumulated or gathered assets. After retirement, if achievable or attainable, Alice would travel round the worldwide in a sailboat.

Measurable: the planning goals of Alice are measurable since her deviate decline can be seen through review or reevaluating of goals. In the event, Alice doesn’t achieve her short term goals like supplying and establishing her life expenses and liquidating or settling her student loan from her wage revenue therefore she cannot start working on attaining her intermediary goals.

Attainable/Achievable: Alice goals are attainable or achievable because she will need to have a second part time job and try reducing her spendings. Furthermore, in case Alice would want to take the risk in playing poker in Las Vegas in attaining her goals. Moreover, if Alice should go for higher risks in Achieving her goals she might not succeed in her goals and might give up other options or possibilities.

Realistic: in accordance with how Alice has summarized or defined her basic or fundamental goals, which are very realistic, relevant, and applicable, because her vital and essential life needs and wants stays within short term and intermediary goals. Whereby in Alice old age expectancy and projection are long term goals.

Timely: Alice’s goals are stated or indicated in proportion to the time it would be attained, which comprises short term goals, and intermediate goals. Hence, Alice would supply and finance her living costs and if feasible, offset her student loan during her short term goals. While in her intermediate goals, she should accumulate assets, purchasing a home, saving for her children education and other expenses or spendings between two or ten years. Lastly, Alice investments and travel in a sailboat round the worldwide.

Conclusion 

With the conclusion on Alice’s SMART goals, I think with the setting of SMART Goals, it will help make Alice retirement and travel plan in the sailboat around the world specific, measurable, achievable or attainable, realistic or relevant, and time bound. If Alice plans to travel round the world in a sailboat doesn’t happen or occur, the real reason is because Alice’s plans are too vague or unrealistic, and Alice should try or will need to adjust her vision and rephrase it as a SMART goal for her, so that she can make her dreams come true. Because also, SMART is an effective tool or device that will provide Alice the clarity, focus and motivation she will be needing to achieve or attain her goals. It can also help Alice improve her abilities and capabilities to reach them by encouraging her to define her objectives, goals, and setting a completion date for her goals.

Reference

• Mindtools.com. (2021). Blog: Smart Goals. How to Make Your Goals Achievable. Retrieved from https:www.mindtools.comaboutus Siegel, R.