One of the person i know has this problem with fixing goals with respect to finances. He just doesn’t like it and any target number makes him anxious . He doesnt let anyone calculate what is the figure he needs for retirement or any other goal for that matter.
But he has a 10 times insurance cover of his salary and is investing 10-15K a month in both direct equity (5K) and MF(10K). His portfoilio except PPF and EPF is in Equity.Pretty much 90%. He just doesn’t want to set the goals.His retirement is at least 20 years away.
I am not sure how to tell him about importance of goal based investment.He wont discuss if i say any numbers 🙂 . I don’t know how to explain it to him.