assignment
Steps to create your 5-year plan
1. Define Your 5-Year Vision for your career and finances goals.
Imagine your ideal life in 5 years and describe it in this section. Answer each of these questions being as specific as possible and include your answers in this step. Write in present tense, e.g.: “I am a department lead at a sustainable tech firm, living in Austin, with flexible hours and a strong work-life balance.” You will use this information to construct your goal statements for your Career and Finances 5-year goals.
Finances:
How much wealth have you accumulated?
How is your wealth allocated?
Career:
What job do you want to have?
What kinds of things do you want to be doing in that job?
What is your annual income?
In what city do you want to work?
What education milestones have you achieved?
2. Now turn your vision into specific goals for your career and finances goals.
Use the SMART framework. Each goal must be:
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound (have a clear due date)
Example goals:
- Save $30,000 for a house down payment by June 2030.
- Earn a master’s in data science by 2028.
- Exercise 4 times a week to reach a healthy BMI within 12 months.
3. Now Break It Down by Year
Work backward from the achievement of your 5-year goals. Your year 4 goals must be achieved in order to achieve your 5-year goal.
State your Year 4 goal.
- What milestones should be achieved?
- What skills or knowledge do I need to gain?
- What habits do I need to build?
- Etc.
Again, write your year 4 goals using the SMART framework.
Repeat the process for years 3 through 1.
4. Now create Monthly Actions for each year.
Each year’s goal should be translated into:
- Monthly objectives: For example: Take a certification course, update resume, start budgeting.
- This information must be displayed in the format of the attached spreadsheet.
- Again, use the SMART framework.
5. Track Progress and Adjust as needed
- Review monthly: What worked? What didn’t? What changes must I make to stay on track?
- Review annually: Are you still aligned with your vision? What changes must I make?
- Adjust the plan as your goals or circumstances change.
Tools You Can Use
- Excel/Google Sheets – for goal timelines
- Google Calendar – schedule habits and checkpoints
- Notion / Trello – visual trackers and vision boards
- Journals – for weekly reflections
When you have finished creating your plan, it should be put into the attached spreadsheet format.
You are now ready to post the Excel spreadsheet containing your plan. Include your name and 5-digit course code in the spreadsheet.
As you are working your way through the rest of the class, refer back to your plan and think about how your plan might be impacted by changes in the national and global economy. What might you have to do to stay on track and achieve your 5-year goals?
Full_5-Year_detailed_Personal_Plan.xlsx
