If it Matters, Write it Down


by Sheryl Eldene, MA, MBA

We know from a study from Yale in 1953 that the 3% of Yale graduates who had written goals had more wealth years later than the other 97% of the class combined. Also, in 1964, Harvard Business School did a similar study on the financial status of its students 10 years after graduation and found that:

  • 27% of them needed financial assistance
  • 60% of them were living paycheck to paycheck
  • 10% of them were living comfortably
  • 3% of them were financially independent.

The study also looked at goal setting and found these interesting correlations.

  • The 27% that needed financial assistance had absolutely no goal setting process in their lives
  • The 60% that were living paycheck to paycheck had basic survival goals;such as managing to live paycheck to paycheck
  • The 10% that were living comfortably had general goals. They thought they knew where they were going to be in the next five years
  • The 3% that were financially independent had written out their goals and the steps required to reach them.

What’s your goal setting process, and how does it work for you?  Leave your reply and let us know.

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