Goal Setting & Your Facet Financial Life Plan

Financial planning can feel insurmountable. How do we simultaneously save for retirement, a new home, and our children’s college tuition while working to pay down debt?

A Facet CERTIFIED FINANCIAL PLANNER™ professional can help put your financial life in balance, providing clarity and confidence.

  • Your success depends on many factors, and we start with your goals and what matters to you.
  • We develop a plan personalized to you—with action steps to bring it to life.

Setting Goals

At Facet your Financial Life Plan is built around your goals, and it is monitored and adjusted as your goals and needs change. Our Facet Financial Life Planners take the SMART framework and make it SMARTER!

Specific—we focus on your simple, clear vision

Measurable—we check progress and stay accountable

Achievable—we tackle large goals and break them into smaller actionable steps

Relevant—we ensure that it is important to you

Time bound—we target an achievable date

Evaluate—we monitor and adapt along the way

Reward—we help you enjoy the journey and celebrate successes!

How does that relate to financial planning? Here are some SMARTER examples for setting goals: 

Paying Down Debt

young professional


“I’d like to get rid of my student loan debt.”


“I’d like to pay off my $25,000 student loan soon.”


“I will eliminate my $25,000 student loan debt by December 31, 2024 by paying down $5,000 per year.”

Retirement Planning

couple enjoying retirement


“I’d like to retire some day.”


“I’d like to retire by the time I am 65.”


“I will retire by 65 with a nest egg of $1,000,000, and know I must save $25,000 per year to achieve this.”

Saving for College

student graduating from college


“I’d like to help my son/daughter pay for college.”


“I’d like to help my son/daughter pay for four years of in-state college.”


“I will help my son/daughter pay for four years of college at $25,000 per year, and will save $500 per month or $6,000 per year in a 529 plan.”

Keeping Your Financial Life in Balance

Financial goals are not all created the same. Some are are short-term goals, and only require a few years of saving. While others—like saving for retirement—will take many years of patience and monitoring to achieve, your Facet CFP® Professional can help you determine how to save for multiple goals at the same time, allocating funds strategically to keep your financial life in balance.

Goal: New House

Short-Term Goal (within 1-5 years)

Establish a separate savings account (a “house” account), and save $1,000 per month in this account.


Save $60,000 for down payment and closing costs.

Goal: College Savings

Short-Term Goal (within 1-5 years)

Establish a 529 savings plan, allocate to an age-based portfolio, and contribute $250 per month.

Intermediate-Term Goal (within 6-10 years)

Following home purchase, increase your monthly contribution to $500 per month.


Pay for four years of in-state college.

Goal: Retirement

Short-Term Goal (within 1-5 years)

Contribute 10% of your income to a 401k and contribute $25 per month to a Roth IRA.

Short-Term Goal (within 1-5 years)

Following the purchase of a home, increase you 401k contribution, and continue funding 401k.

Long-Term Goal (within 1-5 years)

Following college, contribute max amount to Roth IRA.


$1,000,000 in retirement assets.