Beginner's Guide to Financial Goals

Editor's note: This is a special excerpt from TheStreet.com Ratings' Ultimate Guided Tour of Stock Investing. Other Beginner's Guides cover stock basics, market indices and diversification.

You're on a Mission -- Yours!

Have you ever read the mission statement of a company or organization you admire? Over and over again, you'll notice certain qualities, but there are always the same few that keep topping the list. We call them the three "Ds":

• a dream
• determination
• discipline

These are the same qualities that you, the beginning investor, can use to be successful, too. Committing words to paper has a funny way of turning thoughts into action. It doesn't matter whether your mission statement is one line or one paragraph; what does matter is how serious, and how prepared, you are to reach your goals. Writing a personal mission statement helps you keep going in the right direction.

Your Personal Financial Mission Statement

Mission statements keep organizations focused so they achieve their goals.

People, including you, need mission statements, too. Why? They help identify what's important and what you value most. That way, you'll focus on what matters most to you so that you can accomplish the things you really want. This is especially true for financial goals. After all, if you don't know where you want to go, it's unlikely that you'll ever get there.

To create your mission statement, spend some time thinking about your current situation. Now, imagine where you would like to be -- financially -- next year, in five years, and in twenty (or more) years. Be specific and realistic!