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Alice's Financial Goals Essay

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A Nontraditional Opinion on Alice’s Financial Goals
University of the People
Personal Financial Planning Unit One

Alice listed her goals as the following: To pay off her student loans, buy a house, save for children’s education, accumulation of assets, retirement and world circumnavigation via sailboat. As I examine these goals, I am struck by the clearly contrary goal of living on a sailboat to all of the previously stated goals. If this is a real goal and not a whimsical fantasy, then elimination of debt should be the first priority followed by becoming a live aboard. Sailboats are very small spaces and there is no room for a consumer lifestyle. Sailing may seem leisurely at first glance, but is a very physically demanding activity, unless …show more content…
If she is truly committed to the sailing lifestyle and her estimate of paying off her student loan is accurate she should reconsider her intermediate goal of buying a home and replacing her car with a new one. Alice can’t take her car on a sailboat and will have to sell it on departure anyway. She is currently considering a second part time job. Alice should seek a second job that involves sailboats or as an alternative one that can be operated online so that she will continue to earn an income while sailing. As far as starting a family goes, does she have a significant other, and how do her goals compare to his? On the other hand, once she is living on her sailboat and begun her world voyage, Alice is much more likely to meet a compatible future spouse. She will meet like-minded men who are currently sailing like her and would be open to the potential of raising a family while cruising.
If Alice is committed to sailing then there is no good reason to delay acting on that goal and many reasons why it will get harder to achieve the longer she waits and accumulates material goods. On the other hand, if it is a fantasy she should recognize it for what it is and commit herself fully to the rat race most of us spend our whole lives participating in, build wealth and sit in a deck chair on a cruise ship drinking Pina Coladas in her old

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