In this episode of the Teaching Tax Flow Podcast, co-hosts Chris Picciurro and John Tripolsky dive into actionable personal and business goal-setting strategies for 2025. Recognizing the universal desire to start anew each January, they challenge both individuals and business owners to think beyond the typical New Year’s resolutions. Instead of letting Quitters Day—the second Friday of January—mark the end of ambitions, they encourage listeners to sustain their momentum throughout the year.
Chris emphasizes the importance of aligning financial goals with life stages, creating realistic and SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals. For individuals, he advises on crafting a budget, managing debt, building emergency funds, and tax planning to meet both short-term needs and long-term financial health. Detailing his personal approach to goal setting, Chris shares insights on balancing various life priorities, such as fitness and faith, with financial responsibilities.
Key Takeaways:
- Align Goals with Life Stages: Define personal or business priorities by life stage and align financial strategies accordingly.
- Budget Wisely: Create a detailed budget to track income and expenses, ensuring efficiency in financial planning.
- Use SMART Framework: Apply the SMART criteria for setting and pursuing goals to ensure they are achievable and realistic.
- Include Professional Guidance: Collaborate with financial advisors and tax professionals to optimize strategic planning.
- Engage with Communities: Leverage community resources and accountability partners for support and shared progress.
Notable Quotes:
- "Without a plan, your business will run you; you won't run it." – Chris
- "Creating a budget is like stepping on a scale; it's tough but necessary." – Chris
- "Your financial goals should align with where you are in your life." – Chris
- "Plan for taxes effectively; if you do, you choose your tax, not the IRS." – Chris
- "Set goals that are specific, measurable, achievable, relevant, and time-bound." – Chris
Episode Sponsor:
Strategic Associates, LLC
Roger Roundy
www.linkedin.com/in/roger-roundy-86887b23
- (00:00) - Setting Financial Goals for Individuals and Business Owners
- (06:53) - Aligning Life Goals with Financial Priorities
- (09:54) - Creating a Budget and Financial Plan for Future Goals
- (20:00) - Smart Goal Setting for Business and Personal Finances
- (26:25) - Finding Accountability Partners for Goal Achievement
