Setting Goals to Succeed in 2022

Recently I read a book and particularly liked this statement: "Setting goals is the first step in turning the invisible into the visible". 

In the past I would think that goal settings are just fluff but now that I've grown older I found it useful to really achieve what I set out to do. It doesnt cost you a single dollar or alot of effort to set goals; just time to sit down and think. 

Statistics on Goal Setting

According to a study conducted by Harvard Business School on a class of graduating students, it was found that: 

• 84% of the entire class had set no goals at all
• 13% of the class had set written goals but had no concrete plans
• 3% of the class had both written goals and concrete plans

The result? 13% of the class that had set written goals but had not created plans, were making twice as much money as the 84% of the class that had set no goals at all.

The 3% of the class that had both written goals and a plan, were making ten times as much as the rest of the 97% of the class. 

If you notice, the things that the 3% did differently was writing down their goals and have an actionable plan 

Benefits of Writing Down Goals

1. Focus and Reminders

Having a goal allows one to narrow down efforts on things that are important to oneself. Without a goal, one might feel lost and lose track of the purpose of life when shit hits. 

Writing down a goal keeps you accountable and be reminded of your commitment to it. I hear and I forget. 

I see and I remember. I do and I understand

2. Measure of Progress

Think of life as a boat sailing through the vast ocean. 

Goals are like the beacons and lighthouses along the way. Without these lighthouses/beacons, the boat would not be able to know whether they are travelling along the correct path to their destination. 

Having a goal will allow you to see how far you have come and achieved compared when you first started. It also helps to realign efforts on areas to work on to achieve the end outcome.

3. Staying Motivated 

It is human nature to choose the path of least resistance and procrastinate at times. When you have a goal set, it reminds you of the destination/end-state that you initially seek to achieve when things gets tough. A day spent procrastinating is one day wasted towards being closer to your goals. 

How to Stay Committed to Your Goals

Now that we have set our goals, the work does not end there. According to a research, 92% of people who set New Year's goals never actually achieve them. 

So what can I do to avoid the same mistakes? 

1. First Principles - Knowing Why You Want This

When setting your goal, ask yourself why do you want it. It must be intrinsically driven, something that you resonate with and will add value to your life. 

It could be having a certain amount of money so that you have the financial freedom to travel around the world. To others it could be having enough money to never work and spend time seeing their kids grow up. 

The point is to dig deep to find your very own reasons which will enable you to push through when the going gets tough.

2. Set Specific Goals

The goal should have a number and time frame to it. For example, I want to lose 5kg by the end of the year. 

The goal should also follow up with an action plan; In order to achieve my goal, I will only have fried food once a month, exercise for 30mins daily etc. 

By doing so, you are thinking of the tangible steps and have clarity to achieve your goals. 

3. Staying Committed 

Thoughts lead to feelings. Feelings lead to actions. Actions lead to results.  

Goals can only be realised if we take action consistently. There will be distractions, bad days or even failures along the way. The important thing is to never stop trying. 

Olympians are the exemplary models of the product of setting goals. Day in day out they train hard according to their plan in order to perform their best at the games every 4 years. 

Results don't appear overnight. It is a matter of staying focused to the goal, doing the work, not giving up. Time will work its magic. 

Revisiting 2021 Goals 

Career

• Vocalise my thoughts more, better manage relations with bosses, nurture the juniors, be proactive and stay positive. 

If there is one phrase to summarise the entire year, it would be professional development. Thankful to be given the opportunity to be exposed on a greater level. Although things were tough at some points, staying positive and persevering on allowed me to tide through. 

One area which could be better improved was to be more vocal; being more proactive and give recommendations to potential issues.

Relationships

• Continue to be patient with family, engage them more. Explore new places/experiences with partner, minimise miscommunications. Allocate time to meet and contact with close friends.

The pandemic has definitely disrupted the frequency of meet-ups with friends. Blessed to have friends that connects despite the distance, being understanding with and readily give their advice when in need. 

There were some minor issues that lead to conflicts with family/gf. Looking back, all of them could have been avoided if we had communicated with each other and express our inner thoughts. Definitely one area to work on. 

Health & Fitness 

• Go for a medical checkup, make good the issues if any. Attain IPPT Gold, reduce weight to 82kg, do 100 push ups, 3x 1mins planks, 100 leg raises daily minimally. 

Attained IPPT Gold. However did not maintained the regime once IPPT was over. Weight still maintained at ~88kg. Procrastinated on the medical checkup.

Eating habits has been really bad when stress levels at work gets higher. In the long run, this is not healthy and needs to be improved on. 

Investing & Savings 

• Maintain at least 60% savings rate, contribute 7k to CPF SA, 275k networth.

Saved more than 65% of my salary, contributed 7k to CPF SA and achieved ~310k networth. Largely due to constant contribution to Index funds which exploded after the crash in 2020. 

2022 Goals

Career

• Achieve top 35% for performance ranking. Be accountable, show presence. 

Display logical thinking, able to package information nicely into slides/reports and articulate the points across succinctly. Have a list of tasks to priority which is urgent, important and prioritise efforts. Do not be hesitant, clarify when in doubt and be "thick-skinned" in order to make work flow. 

Importantly, enjoy the process, understand the rationale of things being done, be open-minded to learning and uphold quality of work!

Relationships

• Family: Be patient and communicate better . Take time to understand their day, be at home to have dinner at least 3 times a week, plan 2 trips to let parents enjoy. 

• Gf: Open communication, be there to provide support and encouragement. Plan various activities to keep dates interesting, create more memories. 

• Friends: Keep in contact with close friends and make the effort to meet up.

Health & Fitness 

• Achieve IPPT Gold, run below 10:30 for 2.4km. Run at least 3 times a week and mandatory exercise during the weekends. 
  
  

• Reduce weight to 82kg (lose 500g every month). Be able to fit into my old jeans and pants by end of year.
  
  

• Go for a comprehensive medical check-up

Investing & Savings 

• Save at least 65% of salary
  
  
• 400k net worth excl CPF
  
  
• Follow the investment strategy and not deviate

Have a great 2022 ahead!