“When you aim at nothing, you will hit it every time.” –Zig Ziglar
Imagine you are watching your favorite football team this week.
The game is tense, and they may not win.
Nearing the end of the game, your team throws a big pass and gets within range of a field goal.
Suddenly, the official stops the game and moves the goal post back another 25 yards, taking it out of range of your kickers longest recorded kick.
Your team goes for a Hail Mary and miraculously gets within 10 yards of the endzone.
Yet again, the referee stops everything and moves the goal post back another 50 yards this time.
If this continued, the game would never end. The end zone would keep moving just out of reach.
Okay, this might not happen in a football game, but many people live like this when it comes to their finances. According to a study cited in Investopedia (2025), 67% of US workers are living paycheck to paycheck.
A few years ago I was talking with a mentor who asked me if I had “a financial finish line.”
I had never heard this term before, but I still consider it some of the best life advice I have ever received.
What is a financial finish line and what are the benefits?
Some of you may remember the bumper sticker “the person who dies with the most toys wins.” This is emblematic of our culture of limitless accumulation. If we don’t stop to redefine what we believe and want, we can be heavily influenced by these mantras all around us.
A financial finish line is a lifestyle or net worth end point at which additional accumulation becomes much less of a priority.
Setting a financial finish line helps convert vague financial desires into a concrete measurable end point, answering the question “how much is enough?”
Furthermore, the ultimate goal of a financial finish line is freedom—freedom that allows you to shift your focus toward other life-giving priorities like generosity, compassion, joy, relationships, and legacy.
The benefits of setting a financial finish line are enormous, and cannot be overstated.
Here are a few to consider:
- Setting a written goal provides clarity, focus, and direction: It is very difficult to make progress if you don’t have a clear vision, a way to measure progress, and regular habits to back it up.
- You can begin to step off the “hedonic treadmill.” In our day and age, there is no limit to what you can buy with borrowed money and instant delivery. That is a dangerous cocktail of instant gratification for the brain. Setting a financial finish line is a radical way to temper the cycle of restlessness that comes with never having enough.
- Having a plan increases motivation and persistence. Financial research shows that people who plan and monitor their progress develop a greater sense of control and mastery—which reinforces their persistence and effort.
- Helps make decisions clearer and in line with values. We tend to feel better and have less anxiety about spending when we spend our money on things that align better with our core values. Having a financial vision also forces you to consider trade-offs and helps make choices about spending much clearer. Without a goal or plan, daily decisions with money are much harder to figure out.
- Invest in things that matter. Years ago renowned psychologist Travis Bradberry wrote a wonderful Forbes article entitled “Why you should spend your money on experiences not things.” The article highlights how happiness comes more from experiences than buying more stuff.
- Leads to increased peace, contentment, and freedom. Excessive spending can lead to significant anxiety and depression. Conversely, having a clear financial plan and a sense you are making progress can improve mental wellness, give you more choices later in life, and help you appreciate what you already have. A regular practice of restraint can help wire your brain for improved delayed gratification and gratitude.
Calculating your finish line
When I first heard about the financial finish line I wondered, “how could I ever figure that out?”
But after reading and reflecting more, it became clearer.
The following are some basic ways to begin to estimate your finish line:
- How much debt do I have?
- How much do you owe on your house? Do you plan to move up in house, if so what is reasonable?
- How much do you owe on your cars, how many more cars do you think you will need in your lifetime, and at what cost?
- How much do you need for retirement?
- How much are you budgeting for kids’ college?
- How much is a reasonable amount of vacation money each year?
- What other big-ticket expenses can you think of in the next 25 years?
- How much is left over each month (margin) to work on my finish line?
- Also consider inflation over time
Of course everyone’s situation is different, but these questions can at least get you started at estimating a number.
And it should be said that progress will be very difficult unless you 1) do a monthly budget and 2) preserve some margin to begin saving money for the items above.
This basic process gives you a goal and a way to track progress.
Final thoughts and good practices:
- Be ambitious, but realistic: Stretch goals can be helpful because they can force us to grow and change our habits, but unrealistic goals can actually decrease motivation. Striking a balance is key.
- Get rid of debt and track net worth. This practice is recommended by nearly every financial book I’ve come across. It makes sense that debt is like dragging a huge anchor while attempting to circumnavigate the planet, it’s much harder to gain speed. The interest on debt wastes a lot of momentum. Tracking net worth forces you monitor actual progress.
- Involve your partner at every step: Tom Stanley Ph.D. and William Danko Ph.D. wrote one of the best books on money ever written, The Millionaire Next Door, which I would highly recommend. They studied the habits of millionaires over decades. One important and perhaps obvious finding is that it’s hard to make progress if your partner is not on the same page. If one person is always maxing out the credit card, it will be very hard to make progress. This is why having a clear discussion and written vision that both parties agree on is vital. Financial Peace University by Dave Ramsey requires a “budget committee meeting” every month.
- Make sure to still enjoy the present moment. My friend’s dad became a compulsive saver. He did very well, but when my friend recently visited him he found a strange stain on his carpet. It turned out his shoes were decomposing even though he had plenty of money to buy new ones. This isn’t most peoples problem but it can happen. Don’t get so fixated on 30 years from now that you miss out on joy in the present moment. Money is just a tool and also needs to be enjoyed.
- Revisit and revise. It is important to monitor progress and adjust the plan through different seasons of life. Life or global events should influence your planning to a degree. Leave enough flexibility to change course when appropriate.
- Don’t compare your progress to others. It’s never been easier to compare ourselves to others. Don’t look at someone’s Instagram feed and think you are a failure. Research clearly shows most people living lavishly are borrowing a lot of money and might actually be going backwards financially. Define your own path and stick to what makes sense for you.
- Don’t take big risks. Most research on people that have achieved financial freedom says they have done it very slowly over decades. That reality is not very sexy and won’t make a good headline, but it is what the data clearly shows.
- If you are in a season of survival, it may not be the right time to set a financial finish line. Those with limited means or severe poverty shouldn’t work on this now. A finish line that is too far out would be demoralizing rather than empowering.
I am finally old enough to have a few friends who have crossed their financial finish line, and it is an inspiring thing to see.
One of my friends had a terrible childhood and decided the rest of his finances are going to go toward changing future generations of his family. He bought a ranch that is dedicated to charity events, and his kids help run the events.
Another friend of mine decided to start an organization that puts foster kids through college because the research shows that foster kids lose a lot of resources after age 18.
These are just a couple examples to get you thinking and dreaming.
Take action now
Don’t wait. Begin this weekend by sitting down with a pad and paper and begin to identify your financial finish line. Keep reflecting on the question, “How much is enough?”
The next step would be a monthly budget so that you can track income and outgoing monthly expenses.
Below are some more resources that can get you started.
Have a great weekend!
Parker
*This blog is always written by a real human, not AI.
Want more resources?
- Financial Peace University Online
- The Millionaire Next Door by Danko and Stanley
