For many of us what we have is never enough, we always want to have more; more possessions, more luxurious holidays, more expensive clothes and faster cars. All of which, of course, requires more money. We want to live in that big house down the road, or to have the yacht or a holiday home somewhere sunny. I’ m sure even Roman Abramovich feels the same, there will be days when his latest super yacht isn’t big enough or when he feels he doesn’t have enough mansions. However, if we adopt this philosophy how can we ever be content?

Ambition is an important and powerful force but if we don’t have a clear goal for what we want to achieve can we ever be fulfilled? Understanding what makes you happy and understanding what you need to do to achieve it will lead to, what the psychologist Abraham Maslow termed in his hierarchy of needs, self actualisation. Maslow stated that we are self actualised when we are self fulfilled.

Interestingly, research from Princeton University on the relationship between happiness and wealth concludes that the salary level which is most likely to contribute to someone’s happiness is $75,000 (£45,000). Beyond this level emotional happiness didn’t improve.  The research demonstrated as people became wealthier their level of life satisfaction improves, as measured  by material and objective measures, but their ability to enjoy smaller pleasures in life diminishes*.

So, what can we do to ensure we are able to enjoy life and to become self-actualised? I believe it starts with writing down what it is you want to achieve and when you want to achieve it by (SMART goals). It is widely accepted that this simple act has a strong influence on the realisation of a goal.

Perhaps you want to be financially independent so that you can live the lifestyle you wish to without relying upon anyone else. What you need to acquire in terms of personal wealth will vary from person to person but knowing that you can live without working and never run out of money will be a deeply satisfying and rewarding position to be in. For most it will happen at retirement (but even then many will not be without money worries). Perhaps you want it sooner than this?

Whatever your goal you will need a plan to get you there, simply writing it down and hoping is not enough. You will need to assess your current financial situation and understand whether you are on course to achieve your goal when you wish to. If you are not on course you will need to understand what steps you need to take to put you on course and keep you there. This may lead to some stretching personal targets that may require personal and career development but with a dream you are passionate about achieving as the target it will act as a powerful motivating factor.

Once you have attained the goal you were aiming for you will be able to take stock and enjoy the feelings and emotions that come with it. Perhaps this will be enough for you or perhaps you will wish to move on from there to another goal. Jim Rohn, an American speaker and presenter I like to listen to suggests that we be “happy with what we have achieved but be ambitious for more”. This seems to be a healthy way to grow and develop.

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*Source: The Times, Saturday 23rd April 2011.