MMP136: Setting Multiple Goals
The Meaningful Money Personal Finance Podcast
Pete Matthew
4.9 • 1.7K Ratings
🗓️ 18 November 2015
⏱️ 30 minutes
🧾️ Download transcript
Summary
If you have more than one end goal for your investing, it can confuse your plans a little. Should you have separate investment pots for each goal? Different portfolio risk strategies? How to go about setting multiple goals is a question I was asked by one of the respondents to my 2015 listener survey, so I thought I’d strike while the proverbial iron is hot, and answer this one right away…
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This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk
In this session you will discover:
- Which variables you should bear in mind and which you should ignore when setting goals
- Why it's important only to think in today's money
- Why overthinking your goals setting is counterproductive
- How to separate long term from short term goals
- Which tax wrappers will best serve what kinds of goals
- How to build the underlying portfolio including asset allocation suggestions
- The one thing you shouldn't do when working to achieve your goals
Resources mentioned in this show
Podcast: Session 111 - Setting Targets Podcast: Session 106 - Risk & Returns MeaningfulMoney 2015 Survey
Finally, I have put together a cheatsheet which gives you an idea about the kinds of asset allocations you can use for different risk profiles and different timescales.
Join the conversation
I love to read and respond to your comments, so please do join in and share. Question: How have you managed different goals and timescales? What have you learned in the process?
Share the love
My thanks to AussieBoyUK and Simon Poulter for their reviews this week!
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Transcript
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| 0:00.0 | Hi folks and welcome to the Meaningful Money podcast session number 136. |
| 0:04.9 | Go! |
| 0:07.1 | Who's that? |
| 0:12.3 | This is the award-winning podcast dedicated to helping you put your finances in order. |
| 0:20.5 | My name is Pete Matthew and I'm going to share |
| 0:22.0 | with you everything you need to know and everything you need to do to secure your financial future. |
| 0:27.2 | I'm here to help you make sense of money. |
| 0:36.9 | Okay, here we are once again, folks. |
| 0:38.5 | Great to have you with me. |
| 0:40.0 | If you've got more than one end goal for your investing, it can confuse things a little bit. |
| 0:46.8 | Should you have separate investment pots for each goal? |
| 0:50.4 | Maybe different portfolio risk strategies. |
| 0:54.0 | This was asked by one of the respondents recently to my 2015 listener survey, |
| 0:58.9 | which is still open. |
| 0:59.8 | I'll mention that again a bit later. |
| 1:01.6 | So I thought I'd strike while the proverbial iron is hot and answer this one right away. |
| 1:06.8 | So we're talking about setting multiple financial goals today. |
| 1:10.5 | As usual, after the main body of the show, |
| 1:12.5 | I'll look at a couple of recent reviews left by lovely kind listeners, and obviously I'll |
| 1:16.9 | announce what I'm going to be talking about next time. But first, as I remind you every week, |
| 1:20.9 | this podcast is brought to you with the kind help of my friends at seven investment management, |
| 1:25.3 | which is a firm of investment managers based up in London. |
... |
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