Question

One of the ways to create a good work–life balance is to set goals. We create goals to guide and motivate us to succeed. Setting goals can give us a reason to work hard, engage in ethical behavior, and create a balance between work and personal life. Self-motivation techniques can help us to achieve our goals and maintain focus on the rewards for staying on task. It is important that we identify our values and needs to accomplish this.

Instructions Create a list of goals for yourself. (List a minimum of 5 goals.) For each goal, explain how the goal is representative of each of the SMART characteristics (Specific, Measurable, Attainable, Realistic, Timely) Be sure to answer the following questions for each goal summary: Does it answer Who, What, When, Where, Why? Can you measure it? Is it attainable? Is it realistic? What is the time frame you have set for completing that goal?

Answer 1

Five goals are as under:

1) I want to be a successfull psychologist: Time frame i have given for this goal is 5 years , because just now i have completed my studies and have started practicing as psychologists. Further in my area where i reside there is only one psychologist who is also a govt employee so irregular in practicing in his chember. Finally so many patients are going to general physicians and those doctors are giving just medicines of sleeplessness which gives temporary relief to the patient.

2) I want to construct a new house for me: For constructing a new house i need around 20 lakhs bucks as per my plans and designs. I have contact the bank and as per them they can provide loans for the same of around 16 lakhs bucks provided i file return of yearly 6 lakhs, which means i need an income of Rs 50000/- monthly which should be steady for minimum two years. So as per my calculation if i work seriously and with increasing footfalls of patients in my chember i can start earning in next two years of 50000 bucks or even more.

3) I want to buy a car : Time frame is one year. I have selected a particular model of hyundai and that model costs me around 400000 bucks , emi for the same would be around 3500 bucks which i can afford even now , so in next one year i would be in much more sound positiion to buy cars.

4) Savings: I want to save Rs 100000/- every year in equity stocks of fmcg , i have some choices of companies of fmcg and those companies are giving dividends every year with bonus 1:1 on every 4 years with average price hike of 10 to 12% every year. So my age is 22 and i have target to accumulate stocks till 60 years of age, that means 38 years. Now this stock priced around 500 bucks each , so 100000 divided by 500, so 200 stocks each year , it will get doubled every 4 years . I have calculated it , that it will be in crores of rupees at my age of 60, which will beat the inflation rate by 2 % every year . I can give buffer upto 5 % also. And income i have calculated without intraday profits from the stock markets too.

5) Visiting abroad every year, one country each year: Time frame to start with this is from the next year as it would cost me around 25000 bucks , so dividing monthly it would be around 2000 bucks savings in another account for the year will solve the purpose.

All the goals here discussed are attainable, realistic , measurable and achievable too as i have gained those ideas who have done these things in my family . The only thing that is not measurable is my health efficiency to work seriously for money generation and it cant be guaranteed also . Thus i have taken insurance to guard my self but those goals would remain unattainable in that case.