Historic market volatility has washed over the globe in recent weeks. The spread of COVID-19 (the disease caused by coronavirus) has precipitated a record drop in the stock market and a sharp plunge in bond yields, sending the U.S. into its first bear market in over a decade. People around the world are facing a health crisis that’s driving an economic crisis, which are leading to high levels of anxiety for families and individuals regarding their well-being and financial situation.
Setting New Year’s resolutions is a tradition for millions of Americans who see January 1 as a fresh start. However, we all know how easy it is to have resolutions fall to the wayside as the year progresses.
Fortunately, if the goal you have in mind is a financial one, there are ways you can break it down into steps that will keep you motivated and on track to achieve it.
When I moved from Moloka‘i to Kapolei earlier this year, my goals for retirement were to spend time with my granddaughter, become involved
in my new community by volunteering at the library and local school, and to continue what I enjoy doing — walking daily, reading, acrylic painting, gardening, cooking healthy meals, attending art shows and educational workshops, and hosting new students from Southeast Asian countries who are currently pursuing their degrees at UH-Mānoa.
I have learned a lot about setting goals from interacting with my smartwatch! The S.M.A.R.T. approach to setting goals has been around far longer than smartwatches, but the watches demonstrate perfectly the basic S.M.A.R.T. concepts originally created in 1981 by George T. Doran as a management tool but relevant for any type of goal.