Goals, goals, goals. Making them. Setting them. Achieving them.
These days, goal making seems to be part of the suite of hyper-productive activities requiring us to be in constant motion in order to ‘get the most of out life’. The day needs to start with an exercise routine followed by a cold plunge and gratitude journaling only to be concluded with a meditation practice.
That sounds exhausting – not calming.
Still, today, I want to make the case for goals.
The principal benefit of making and following goals is that it helps you delay gratification. It gives you the backbone to say ‘no’ to immediate pleasure for a larger payoff down the road.
If I want to financially help my kids, Eliot and Julien, attend post-secondary I need to set money aside – now. That means less of something today for a benefit tomorrow.
If you want to stay active and mobile throughout your life you need to take the time out of your schedule to be active; to move – today. And, in the sphere of activity that means different things to different people: one man’s marathon training is another person’s aquafit class.
Goals don’t need to be Olympic in their orientation and, moreover, most of us won’t directly go on to achieve the original one we had in mind. And, that’s ok. It is the fact that we are pointing our sails in the right direction that is important.
When we set off with retirement planning, say in your 30s, we may zero in on a retirement date of 60. In reality, we all know you won’t retire on your birthday at 60. Maybe that freedom comes early because of good fortune or it is a few years later because of some unforeseen events. The point is that your present-day sacrifices compound over time giving you the best chance at financial freedom in the future.
The power of compounding applies to all areas of life whether in learning, health or financial.
Another benefit of goal making is that it can slow time down. Now, I hear you. I may sound a little woo-woo but hear me out. Goals can take us to new and uncomfortable places. And, science has revealed that doing new things, seeing new places and meeting new people forces our brains to work. And, with that work, our perception of time slows down.
I can remember grade 4 taking forever. At the time, my 10-year-old brain could only blame my ‘boring’ school. Most likely, my perception of time slowed because I was learning challenging new things and tackling new uncomfortable experiences like overnight camp and hockey.
In our younger years, newness is a fact of life. Now, we need to generate it for ourselves.
One goal that I’ve been working on for the last ten years or so is canoe tripping with my boys. I love portaging and have done it since my early 20s with my university friend James. We’ve been to remote locations, freezing cold sites and back breaking ones too.
Here’s a photo of us on the Albany River close to Hudson’s Bay.
We both wanted to share this knowledge with our kids. And, between us, if we didn’t include the kids it probably would have marked the end of our outdoor adventures.
We started the kids young by taking a canoe out for a few hours and sleeping in the backyard. Gradually, we dialed up the intensity and got them comfortable with being dirty, wet and tired in the middle of nowhere.
About 5-6 years ago, I dreamed that when Eliot was 16 and Julien 13 (in 2025) we would spend a week or two on the Nahanni River in the Northwest Territories.
The Nahanni goal was now our north star and gave us permission to invest in camping gear and dedicate a week each summer towards camping.
Now, we may not actually ride the white water of the Nahanni. It may be another river. It may not be in 2025. Again, that’s ok. Our goal is providing us the magnetic pull to ensure that we make time for those trips each year and that we up our game each time.
Goals are important at any age. And, they don’t need to be life changing in nature. Join a bridge club. Plan a trip to France. Learn how to use FaceBook.
I look forward to hearing what you have set out for yourselves. In the meantime, I’ll be sure to keep you updated around our camping adventures.
The opinions expressed are those of the author and not necessarily those of Assante Capital Management Ltd. This material is provided for general information and the opinions expressed and information provided herein are subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on the information presented, please seek professional financial advice based on your personal circumstances. Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.
