Definition: Financial Goal
Objective or target, usually driven by specific future financial needs. Some common financial targets for a person are: saving for any comfortable retirement, saving to transmit children to school, controlling finances to allow a house purchase, reducing taxes, making the most of return on opportunities given a particular risk tolerance, and estate or trust planning.
Given an individual’s goals, he/she establishes a design of expenses and appropriate opportunities that will individuals goals to become accomplished. Institutions also provide financial targets, for instance making sure pension contributions at specific occasions, or retiring some debt with a certain date. Frequently, both people and institutions think it is helpful to train on a professional to assist them to in establishing an economic plan that will their set goals to become met.
resource allocation, planning, financial planner, level of confidence, fiscal policy, strategy, investment strategy, milestone, project, quota, tactics, target