ONE OF my favourite things to see is persons achieving their goals in life, especially those with financial implications of some kind. Sometimes people make it seem more complicated than it really is.

Although there are some intricacies when it comes to investing, if you find a professional to guide your decisions, it can make your investment experience much easier.

There are some things, however, that only you can do, as it pertains to reaching your financial goals. And that's what I want you to work on for the new year.

As you are starting this process, if you are not in the habit of setting and achieving goals, I would suggest you start with the easier ones, then progress to setting and achieving more challenging ones as your muscles begin to flex and get stronger.

When it comes to setting financial goals use a five-step method:

1. Decide on a goal.

2. Determine a deadline for achievement.

3. Put a cost to your goal.

4. Choose the appropriate investment strategies.

5. Begin saving and/or investing towards it.

These are relatively very simple steps that are effective. They have assisted many to reach their personal goals.

Now, there are a few things you need to know about the implementation of this process to ensure that it effectively works for you.

Mindset

There's a mindset you need have before you start. I call it 'thinking in reverse'. All it means is that you mentally travel to the end of your goal and then walk backwards. Take yourself through all the steps that took you there.

Keep the following in mind:

1. Decide on a goal - make sure the goal is practical, and tangible, i.e., you can easily know when you've achieved it.

2. Determine a deadline for achievement - Be realistic in setting your timelines. The chances of your making $1 million this week, unless it is something you habitually do, or are in some line of business that generates that type of income, are probably quite slim.

3. Put a cost to your goal - this is where most mistakes are made. If your goal is to buy a car, you also have to answer questions such as the make and model of the car. Is it a used or new car? Then do some research to determine how much these cars cost.

4. Choose the appropriate investment strategies - this is where you involve the services of a financial advisor or financial professional.

These persons will do the analysis, and determine how much is needed to contribute to your goal on a monthly, quarterly, semi-annual, annual basis, etc. They will let you know what types of returns are needed to make your goal by the deadline you set.

They will advise on the type of investments that will assist you in meeting your goal.

5. Implementation - start saving and/or investing towards achieving your goals. This is the part that is all up to you!

There is no substitute for taking action to achieve your goals - financial or otherwise. If you follow these simple steps you will be well on your way to achieving them. Have a productive 2009!

Jerrold J. Johnson is financial advisor - JN Fund Managers Ltd. He can be contacted at Jerrold@jnbs.com.