How do you write a personal 5-year plan? Where do you start?

Question

making personal changes in career, home, residence all aspects.

Answer 1

You start with where you currently are, like a resume. List your accomplishments, skills, assets, etc.

Then you consider your desires for the future. Consider what you would like to accomplish in the coming 5 years in terms of the following categories: education, financial, career, family, home, community (volunteering), travel, etc. Think year by year over the next 5 to 6 years.

They should be challenging yet achievable. Think strategically on how to implement these. What sacrifices will you have to make? Will you have to work harder, change companies, relocate, focus on saving, go back to school, and which goals take priority over others?

Finally, create an "executive summary" for yourself. A paragraph or two highlighting specific actions you must take to achieve your goals.

5 years is really about as far out as your can reasonably plan. Things change significantly over 5 years. Beyond 5 years, I like to consider my retirement plan as the next objective. So, I end up with:
1) What should I be doing now to stay on plan
2) Saving towards retirement (or other longer term goals)

Good Luck,

Answer 2

Personal five year plan.

You do want five year goals.. but I'd go for 10 or 12 years. . with 5 as a stepping point. You also need yearly goals.. you need goals that are measurable with points of completion noted.. so that way you feel like you're actually getting somewhere... i.e. how do I know if I'm 1/2 way completed, 1/4 way completed, 3/4 etc.

Everybody has their own goals. Some may seem silly to another. i.e. one person's 5 year goal could be to overcome their fear of heights. Another may be to obtain a college degree of some sort and own a home. Another may be something else.

My personal short term goal.. Right now.. for some reason all I have in my sight is being debt free. House and cars.. Instead of getting a 30 year loan, we got a 15. And instead of 15, we're going to be done in 8. So our goal is to pay off our auto debts with an extra $100 a mo. Then when the first auto is paid, put all that money we were used to paying on that car.. put it down on the second car... then when the cars are finished, put all that we're used to paying .. now add it to the house payment.

I also told myself to do something unselfish. I had no idea what it would be.. only that I was going to find something in the next year to give my time. So I volunteer as a mentor to a 12 yr old. The ironic thing.. I thought it would be tough and it'd be a lot of work.. and it'd be so unselfish.. but honestly, I think I'm getting more out of life personally by mentoring than when I didn't. LOL

Another goal we have.. is to not think completely about the future.. think a bit about the now.. what are we going to do for a vacation this year.. We ALWAYS put it off.. coz of the future. Not a good plan. So we do things.. force ourselves to save for mini vacations, etc. And I'm always glad that we do, because it's nice to actually live a LITTLE. :)

But the key, is stepping points. Making those well known.. so that at the end of the 5 years.. you don't go.. woah.. wait a minute, what happened. So at the end of year one.. I'll have accomplished this and that.. at end of two this also., etc.

It's not that tricky really. Just write down the different aspects of your life.. and where you want to be in 5.. Then write down what you will do to get there.. and the things you need to do to complete those goals. You may go woah.. the house can't be accomplished because I just don't have time.. we'll have to put that one in the 10 year area.

I'd also have them sectioned out separtely. That way if you fall behind a spec on the home, but still do great on the career.. you'll have accomplished something instead of feeling like a failure at the entire one big goal.

i.e. make the career your 4 year goal, home your 5 and 20 year goal, etc.

Answer 3

A five year plan is great. What do you want to accomplish in that five years? What is it going to take to get there? How open are you to new Ideas? If I could show you a way to change your whole financial future in 24 months would you be willing to listen? I have changed my financial future with a company called Melaleuca and enjoy being part of helping others do the same. let me help you help your self. Dream and dream big because what I have to show you will change every aspect of your life. if you are interested let me Know just take about 30min -1hr of your time and you can be on your way to financial freedom. Not only making a difference in your life but in the lives that you touch. Send me an email at [e-mail] and we can get started today.

Answer 4

20% savings is a prerequsite for FY 1 to 5 will make a safety net.

Answer 5

Start with smoking a bowl, it'll help you think clearer