S.M.A.R.T Goals: Your Blueprint for Success

Whether you’re setting one big goal or tackling a few smaller ones, New Year’s resolutions can truly be a game changer. Research by Norcross et al. (2002) found that 46% of people who set resolutions succeeded after six months, compared to just 4% of those who didn’t set any at all.

The key to staying on track? Write down your goals and make them S.M.A.R.T:

SPECIFIC- Be crystal clear about what you want to achieve
👉 Example: Instead of saying, "I want to save more money," say, "I will save $5,000 this year for a family vacation."

MEASURABLE-Set goals you can track so you know when you’re making progress. 
👉 Example: Break your $5,000 savings goal into smaller milestones, like saving $417 per month or $96 per week.

ACHIEVABLE-Your goals should challenge you but still be within reach based on your current situation. 
👉 Example: If saving $5,000 feels like a stretch, start with $2,500 or find ways to cut expenses to make it doable.

RELATABLE -Your goals should align with your values and priorities. If a goal doesn’t excite or resonate with you, it’ll be harder to stay committed.
👉 Example: If financial security for your family is a priority, a goal like "Build a $1,000 emergency fund" might feel more meaningful than "Save for a new gadget."

TIME BOUND-Set a deadline to keep yourself accountable and motivated. Open-ended goals tend to lose momentum.
👉 Example: Instead of saying, "I’ll save for a vacation someday," say, "I’ll save $5,000 by December 31, 2025."

Truth is, most of us aren’t great at identifying our own goals. From an early age, we’re influenced by what others around us want—parents, siblings, peers. And now? We’re constantly exposed to what people on social media are striving for.

It’s easy to borrow someone else’s goals without even realizing it. Why? Because figuring out what you truly want takes clarity, intention, and effort.

But here’s the thing: you are unique. Your life, your circumstances, and your dreams are unlike anyone else’s. And because of that, the only goals that matter when it comes to your money are your own.

Let this be a reminder: take a step back and ask yourself what truly matters to YOU. Not what others say you should want, but what feels aligned with your own values and vision.

💰 How Does Your Net Worth Compare? 💰

Recent data from Empower breaks down the average and median net worth of Americans by age group. But here’s a quick financial pro tip: focus on the median—it’s a better representation since averages can be skewed by a few very wealthy individuals.

Net Worth by Age

📊 20s:Average: $110,241 | Median: $7,522

📊 30s:Average: $309,736 | Median: $35,309

📊 40s:Average: $776,880 | Median: $124,509

📊 50s:Average: $1,389,297 | Median: $287,482

📊 60s:Average: $1,689,144 | Median: $439,050

📊 70s:Average: $1,617,721 | Median: $367,231

📊 80s:Average: $1,514,349 | Median: $343,661

📊 90s:Average: $1,289,391 | Median: $293,432

Where Do You Stand?

If you find yourself below the median, don’t panic! Instead, use this as inspiration to start building your net worth.

💡 By the way, here’s a refresher:
Net Worth = Assets (what you own) – Liabilities (what you owe)

Stay tuned.In the next newsletter we will explore some actionable tips to grow your wealth.  

To give you a head start, check out the chart below: The Periodic Table of Asset Class Returns.

It highlights the 2024 performance of stocks, bonds, commodities, and other asset classes, along with their returns over different time frames. 📊. The SP500 finished up 25% in 2025 and it has been averaging 13% in the last ten years.

© Copyright, 2025,Elisabetta Basilico,@wealthmamma

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