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The Story of Rich: A Financial Fable of Wealth and Reason During Uncertain Times by Brian Wesbury, Matt Joyce, J.D. Joyce

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Chapter 4

Goals and Objectives

Rich and Peg spent the next four days sightseeing around Grand Teton and Yellowstone National Parks. They hiked the trails, rented bikes for an excursion, and even took a rafting trip down the Snake River. The days were warm and bright; the nights were chilly. The Vivas saw eagles, elk, moose, and bears during their drives and hikes through the parks. They ate nice meals at the lodge and in town at Jackson restaurants. In the evenings, they soaked their bones in the lodge hot tub. It was one of the most relaxing vacations they’d ever taken.

Rich had mostly steered clear of financial planning since their discussion with Sally Victor. With days full of quiet time, however, the topic crept into his mind from time to time. A recurring theme had developed during his recent discussions about retirement planning. In his talks with Ernie and Sally, as well as the young financial advisor he spoke with after Greg Webber died, each had mentioned the importance of an investor’s goals and objectives.

The advisor had asked Rich about his goals for money and lifestyle planning. Rich had given it some thought, but hadn’t settled on any specifics. Then, Ernie had explained the vital importance of goals and objectives in the development of a financial plan. And in Sally’s discussion of forest management, she had made it clear that an investor’s goals and objectives were the primary factors in developing an investment strategy. The only way for Rich to achieve his goals ...

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