Setting Goals in Life

Goal setting is very important not only for an organization but also for an individual. Setting goals in life helps in developing a roadmap to fulfil dreams during various stages of life. You may wonder why I am discussing about goal settings in life during various stages of life when we senior citizens are in the last phase of life. What is its utility to senior citizens? If any senior citizen is thinking like that, he is not wrong since at this stage we cannot set our goals retrospectively. During this phase of life, we have a lot of old memories related to both achievements and failures in life. No doubt, one feels pleasure in cherishing old memories of pleasant moments and experiences of successes in life, but it is very difficult to cherish memories of failures in life. Many senior citizens repent for their failures in past. But instead of repenting, it is better to learn lessons from past failures which will be helpful in giving proper guidance to the upcoming generation for achieving their goals and fulfilment of their dreams. 

2.  For achieving dream, one need to do the followings.

(i)             Setting Goals

(ii)           Developing Strategies to achieve Goals

(iii)         Taking initiatives and actions based on strategies

(iv)          Review of actions taken

2.1 Setting Goals: Setting Goal is the first and foremost step for the achievement of dream. Goals in life differ during various phases of life.  During student life a person is mostly having academic goal and near the end of student life one may have professional goal in addition to academic goal. During working life, a person is mostly having professional and financial goals. During initial stage of working life, one may have a goal to settle in life and to have a family. After the completion of working life when a person enters into post-retirement life, goals are totally different due to drastic change in lifestyle and priorities after retirement. During post-retirement life focus is more on stability and therefore a person’s financial goal is mostly to have consistent flow of passive income so as to take care of one’s daily needs, medical expenditure and leisure travels by making proper placement of retirement corpus in various financial instruments. Peace of mind with sound health become priority at this stage. I am not going into the details of goal settings for which I may have to write a separate article.  Goals should be SMART i.e., specific, measurable, achievable, relevant and time bound.

2.2 Developing Strategies to achieve Goals: Once a goal is set there is a need to develop strategies to achieve the goal. Before developing strategies, one should set the timeline for the achievement of goal, and it should be achievable within the timeline. While developing strategies one should take the stock of available resources which includes available information, tools and other material resources required for the achievement of goal. Once you know the resources required for the achievement of goal, you can ascertain the resources gap to be fulfilled. Strategy includes the following steps.

(i) Identification of resources required for the achievement of goal.

(ii) Ascertaining the resources gap to be fulfilled.

(iii) Developing action points to fill the resources gap.

(iv) Developing various milestones in a chronological order for the achievement of goal.

(v) Creating action points for the achievement of each and every milestone with deadlines.

2.3 Taking initiatives and actions based on strategies

This is the most important steps without which the first two steps will become useless. Even after having a noble goal with robust strategies, one may not achieve any success if there is a lack of initiatives and actions. It is very important to take initiative i.e., the first step and subsequent actions based on strategies. Action should be appropriate for achieving each and every milestone within the deadline. After achieving the first milestone one need to initiate action for moving towards the next milestone.

2.4 Review of actions taken

It is very important to review the actions after reaching every milestone. If you are not able to reach the milestone before targeted date or sure that your action is not taking you near the targeted date, then you should review your actions and find out the most appropriate way to reach the targeted date. Even after reaching the first milestone within the targeted date, one should review the actions taken for reaching the first milestone. On similar way review of actions should be made for each and every milestone. Review of your actions helps in finding out the most appropriate way to reach the milestone and in achieving your goal. It also helps in identifying irrelevant steps which can be removed for facilitating achievement of goal in a smooth manner within the targeted date.

3. Types of Goals

Goals are of various types based on its importance and tenure of achievement. Strategies for achieving goals may not be the same for every goal and may differ for each goal based on its type and nature. One need to prioritize the goals to be achieved as it may not be possible to work on the strategies for all the goals simultaneously.

3.1 Types of Goals based on importance

Based on its importance, goals are of three types.

(i) The Most Important Goal

(ii) Important Goal

(iii) Least Important Goal

Based on the degree of importance one need to prioritize the goals. The most important goal should always be on one’s top priority. But it does not mean that one should not focus on the least important goal. One need to develop the strategies for the achievement of each and every goal, but action should be first initiated for the most important goal and more efforts should be made for its achievement. Not necessarily your lifetime goal may be the most important goal during each and every phase of your life. For example, at the age of 25 years one may have a dream to have a farmhouse and accordingly a goal has been set to have it within the next 15 years. But to have a job for livelihood is also a goal that gains importance over long term goal of having farmhouse because without livelihood it may not be possible to have a dream farmhouse. Accordingly, one need to prioritize one’s goal. Many times, achievement of one’s long- term goal depends on the achievement of short-term goal.  

3.2 Types of Goals based on tenure

Based on time required for the achievement of goals, we may categorize the goals into three types.

(i) Short Term Goals

(ii) Medium Term Goals

(iii) Long Term Goals

A short-term goal requires a time span of one to two years for its achievement. A medium-term goal requires three to five years whereas a long-term goal takes at least 10 years for its achievement. These time periods are flexible. Persons of young and middle age groups can have the scope for short term, medium term and long-term goals. Whereas persons in old age group have very little scope for long term goals.

4. Goal Setting during post-retirement life

Setting of goals in life is not only important during earlier phases of life but is also important during post-retirement life though there is a very little scope for setting long-term goals during this phase of life. One can have mostly short-term goals and rarely mid-term goals during this phase of life. Pursuing hobbies, planning for travel, having celebrations, planning events, etc., maybe one’s goal during this phase of life. Still there are possibilities of achieving unfulfilled dream during this phase of life.  

5. Evaluating reasons for failures in achieving goals during past

On recapitulation of old memories, one may have complete picture of both achievement and non-achievement of goals set during earlier phases of life. No doubt one will have pleasure in cherishing the memories related to goals successfully achieved in life but is equally important to analyze the reasons for failure in achieving certain goals in life.  On introspection, one may come to know the reasons for non-achievement of goals. Instead of blaming others it is better to own the responsibility for failures in past. In most cases the main reason for failure is lack of commitment and focus. Due to lack of commitment, a person fails to develop the strategies for achieving goal and many times lose focus on goal. In case of particularly long-term goal, tendency to lose focus is more due to intermittent distractions which may be due to events and incidents happening in between. Most of the events and incidents are not in our control, but the only thing that is in our control is our response and reactions towards such events and incidents. Incidents and events are momentary in our life, but our response and reaction are not momentary and carried for longer duration which leads to distraction from our main goal. It is our responsibility to have control over our reactions and not allowing it to be carried for longer period. Giving undue importance to the opinions of other persons regarding our goal also lead to distractions.

6. Conclusion

Senior Citizens have experiences of both successes and failures in life which may help them to prepare learning points which will be helpful in providing guidance to the upcoming generations for achievement of their goals successfully without repeating the mistakes already done in the pasts.