New Delhi, Feb. 27 -- Goal-setting in wealth management is akin to charting a course for a journey. Without a clear destination, you may find yourself adrift among various financial options, potentially missing opportunities or taking unnecessary risks. However, simply setting goals is not enough. You also need to plan well to achieve these goals and build actual wealth. As Antoine de Saint-Exupery said, "A goal without a plan is just a wish."

By setting clear goals, you can be disciplined with your money, savings and investments. Here is why setting goals is crucial for wealth management and how you can go about it.

Why is setting goals important?

Setting goals provides you with a clear sense of purpose. Instead of simply accumulating...