Values are the intangible reasons (emotional payoffs) to create and follow an investment strategy; goals are the tangible results. The first step in setting investment goals is a quick brainstorming session, which is more fun to do with a partner or team, but you can certainly do it yourself if you prefer.
To start, have your partner ask you, “What are your tangible goals that require money and planning to achieve?” Your partner can record the ideas you generate during the brainstorming session on a sheet of paper not necessarily visible to you to prevent ruining your flow. If you get stumped, ask to repeat the items you have on your list.
It’s important that you and your team spend no more than an hour brainstorming. Anymore than that, and the momentum begins to work against you.
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