Many people talk about having a five year plan, but what is it exactly? A five year plan is a way to help set long-term goals for yourself by breaking down where you are now, where you want to be, and a plan to get there.  It can be easy to get caught up in short term goals, but long term goals can mean the difference between wanting to achieve a goal and actually executing it. So how exactly should you go about planning for your future? Here are some tips to help craft the best strategy for you.

Know where you are now

You may be asking yourself why five years in the future is so significant. This period of time is a far enough in the future that you can realistically achieve your goals, but not so far away that the necessary steps to accomplish those goals become hazy.  To map out your personalized plan, ask yourself:

• What do you wish was different about your life now?
• Where would you like to be career-wise?
• What goals do you wish to have achieved in five years?

By asking yourself these questions, you’re laying the groundwork for the necessary steps that need to be taken to accomplish your goals.

Assess where you want to be

You’ve got an end goal in sight, so now all you need is to piece together a map to reach that destination. Assess how you’ve answered the previous questions and map a step by step path from where you are now to where you want to be.

Though some professionals may be able to craft an ultra-detailed multi-step plan, a general idea as to how to reach those objectives over the course of five years can work just as well. Depending on your goals, short term planning may be the key for you to rise to the next level of your career. Goal setting not only helps you to get organized, but it can also be a great way to paint a clearer picture of where you see yourself.

Keep track of your progress

All plans are at the mercy of unforeseen events (for better or worse) so leave some space for flexibility when it comes to your plan. Track your progress as necessary in order to visualize your path—if you’ve got a solid end-goal, know that there are always alternate routes to achieving success. Periodically assess if your current career path is relevant and aligns with your most current career goals. Five year plans aren’t set in stone, so feel free to tweak them as you see fit.