{"id":78215,"date":"2023-11-06T10:33:03","date_gmt":"2023-11-06T15:33:03","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=78215"},"modified":"2024-01-16T15:07:06","modified_gmt":"2024-01-16T20:07:06","slug":"saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/","title":{"rendered":"Saving for a Big Goal? Here are 5 Tips for Keeping Your Eye on the Prize"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/savings\/\">\n\t\t\t\t\t\t\t<span>Savings<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Saving for a Big Goal? Here are 5 Tips for Keeping Your Eye on the Prize<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By The Inspired Investor team<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Woman looking through binoculars.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Saving for a Big Goal? Here are 5 Tips for Keeping Your Eye on the Prize &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published November 6, 2023 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p><em>With files from Sarah Treleaven<\/em><\/p>\n\n\n\n<p>When saving for a big, distant goal, today&#8217;s uncertainty around inflation, interest rates and a potential recession can make it feel unattainable. Nothing rains on travel plans quite like inflation. And while home prices are cooling, we&#8217;re still facing an affordability crisis, according to RBC Economics. Knowing the picture could change at any moment \u2013 it&#8217;s a lot to think about, we know.<\/p>\n\n\n\n<p>But whether you&#8217;re just getting started or in the process of building up your nest egg, there are ways you can avoid the near-term distractions and pessimistic thoughts that can get in the way of your finish line. We reached out to Sandra Abdool, an RBC Regional Financial Planning Consultant based in Burlington, Ontario, who shared five tips that can help you keep your eye on the prize.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Know what matters to you<\/h2>\n\n\n\n<p>You&#8217;ve likely heard a friend swear that ditching their beloved lattes was their key to savings success, but it doesn&#8217;t mean it&#8217;s right for everyone.<\/p>\n\n\n\n<p>One method for cultivating discipline \u2013 while saying &#8220;yes&#8221; to the odd splurge \u2013 is having a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/spending-less-can-be-a-pathway-to-financial-peace-and-self-love\/\" data-dig-id=\"LP-78215-70c86d17\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"spending plan\" class=\"rbc-link-format\">spending plan<\/a>. Like a big-picture budget, a spending plan helps you get a handle on how much money you take in&nbsp;<em>and<\/em>&nbsp;how much you&#8217;re paying out.<\/p>\n\n\n\n<p>&#8220;You&#8217;re better able to determine which purchases bring you greater value versus which don&#8217;t,&#8221; says Abdool. &#8220;The point isn&#8217;t to shut down all your &#8216;wants,&#8217; like clothes or travel, but rather to ensure you are balancing those with fixed costs, like rent and utilities.&#8221; To stay motivated, try being as intentional about your saving as you are about spending.<\/p>\n\n\n\n<p>You can be generous with the categories that bring you the most pleasure and try to leave yourself some wiggle room every month. When you&#8217;ve figured out a comfortable savings target, consider a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/what-it-really-means-to-pay-yourself-first\/\" data-dig-id=\"LP-78215-87f25d66\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"pre-authorized contribution\" class=\"rbc-link-format\">pre-authorized contribution<\/a>&nbsp;(PAC) plan: every month, a pre-set amount you choose is deducted from your savings account and placed in an investment account, where you can watch it grow.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Tap into the power of hope<\/h2>\n\n\n\n<p>Your journey may have bumps along the way, but how you adapt (and overcome!) can have a lot to do with your&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/what-really-drives-our-money-decisions\/\" data-dig-id=\"LP-78215-c4e82411\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"emotional triggers around money\" class=\"rbc-link-format\">emotional triggers around money<\/a>. Taking the time to identify these potential triggers can help you recognize if they are affecting your decisions.<\/p>\n\n\n\n<p>For example, you aren&#8217;t alone if you have a hard time staying cool amid a temporary dip in the market, which can make it more difficult to plan your next move effectively. Consider asking your advisor about investing basics, like the cyclical nature of high interest rates and inflation. There is some reassurance that comes with knowing that, historically, what&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/economics-for-beginners\/putting-market-volatility-into-context\/\" data-dig-id=\"LP-78215-3b042362\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"goes down tends to come back up\" class=\"rbc-link-format\">goes down tends to come back up<\/a>.<\/p>\n\n\n\n<p>But while emotions like frustration, impatience or panic can derail your plans, Abdool likes to remind clients that hope can be a powerful investing tool. &#8220;Print a picture of what you&#8217;re planning for and place it in a strategic spot, like your bathroom mirror or fridge door, to keep you motivated every time you see it,&#8221; says Abdool.<\/p>\n\n\n\n<p>It&#8217;s also important to be realistic, she adds, to help ensure motivation doesn&#8217;t wane. &#8220;Writing down your savings goal and regularly tracking your progress can help you avoid emotional triggers,&#8221; Abdool adds.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Get creative<\/h2>\n\n\n\n<p>When something comes up that doesn&#8217;t fit into your spending plan, you might be tempted to dip into the money you&#8217;re saving for your longer-term goal. That&#8217;s especially true if you haven&#8217;t yet started an emergency or personal spending fund, something Abdool recommends putting in place.<\/p>\n\n\n\n<p>To help, consider expanding your income to accommodate additional spending or building your emergency fund. You could try any number of things \u2013 selling clothes you don&#8217;t wear through consignment, holding a yard sale, picking up a side hustle like dog walking or consulting, asking for a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/how-to-ask-for-a-raise-in-this-economy\/\" data-dig-id=\"LP-78215-82a8d598\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"raise at work\" class=\"rbc-link-format\">raise at work<\/a>, renting out a room in your home, or finding a way to monetize a hobby like photography or woodworking.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Stay calm and consider your time horizon<\/h2>\n\n\n\n<p>A wise investor famously quipped that \u201cThe stock market is a device to transfer money from the &#8216;impatient&#8217; to the &#8216;patient.'&#8221; This observation glosses over some of the nuance, but the takeaway is that long-term thinking is a key element of progress.<\/p>\n\n\n\n<p>&#8220;Saving and investing for the long term gives you more time to smooth out the effects of market volatility and other obstacles,&#8221; notes Abdool. Market volatility is one thing, but this also applies to job loss, death or serious illness in the family or an unexpected expense. &#8220;A longer timeline makes it possible for you to put any minor setbacks into perspective.&#8221; Unexpected events can be positive, too. Maybe you&#8217;ll get a promotion or find the perfect new job.<\/p>\n\n\n\n<p>One way to help alleviate the inevitable ups and downs is&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/dollar-cost-averaging-what-it-is-and-how-to-make-it-work-for-you\/\" data-dig-id=\"LP-78215-f64a3cc7\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"dollar-cost averaging\" class=\"rbc-link-format\">dollar-cost averaging<\/a>, an investment strategy that involves putting aside a fixed amount of money \u2013 whether this is $25 or $250 or more \u2013 on a regular basis, such as bi-weekly or monthly. The idea is to keep your contribution consistent rather than trying to guess when a fluctuating market will rise or fall.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Keep shorter-term benefits in mind<\/h2>\n\n\n\n<p>It can be motivational to think about the more immediate wins associated with all your long-term planning. &#8220;Even if you&#8217;re in it for the long haul, it&#8217;s a good idea to build in short- as well as medium-term goals, so you&#8217;re rewarded along the way,&#8221; says Abdool.<\/p>\n\n\n\n<p>For example, a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/rrsp.html\" data-dig-id=\"LP-78215-183130c1\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Registered Retirement Savings Plan (RRSP)\" class=\"rbc-link-format\">Registered Retirement Savings Plan (RRSP)<\/a>&nbsp;earmarked for retirement can also help fund a postsecondary education or a home down payment. Plus, some registered accounts, including RRSPs or&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/fhsa.html\" data-dig-id=\"LP-78215-186082cf\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"First Home Savings Accounts (FHSAs)\" class=\"rbc-link-format\">First Home Savings Accounts (FHSAs)<\/a>, have&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/can-registered-accounts-help-you-save-on-taxes-yes-heres-how\/\" data-dig-id=\"LP-78215-e2a0e6bb\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"tax advantages\" class=\"rbc-link-format\">tax advantages<\/a>&nbsp;that may lower your immediate tax burden.<\/p>\n\n\n\n<p>And don&#8217;t forget, the same knowledge that is helping you get your finances in order today is a long-term investment itself. &#8220;Along the way, you&#8217;ll learn techniques for creating and managing a spending plan \u2013 a budget \u2013 and these techniques can help you with many financial and life decisions in the future,&#8221; says Abdool.<\/p>\n\n\n\n<p>&#8220;It&#8217;s a great feeling to know that even small steps you take now can get you that much closer to your goals.&#8221;<\/p>\n\n\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Saving for a Big Goal? Here are 5 Tips for Keeping Your Eye on the Prize &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/\">\n          <img decoding=\"async\"\n            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mar-b-hlf\">Savings<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A young woman deep in thought\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg 8640w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=1536,1024 1536w, 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grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"673\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Digital form checklist\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg 6736w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?resize=300,197 300w, 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href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/\">\n\t\t\t\t\t\tBudgeting\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/2026-financial-roadmap-aligning-your-budget-borrowing-and-investments-to-your-goals\/\" class=\"card-title h4 mar-t-0\">2026 Financial Roadmap: A Guide to Debt, Budgeting and Investing in Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" 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https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/\">\n\t\t\t\t\t\tParenthood\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/build-a-financial-legacy\/\" class=\"card-title h4 mar-t-0\">Investing in Your Legacy: 5 Ways to Build Wealth for Your Family\u2019s Future<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-54a1cdd3-6fc5-41ca-8d11-094acfd0779a {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-54a1cdd3-6fc5-41ca-8d11-094acfd0779a {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>It can be tough to stay focused on distant goals like travel, buying a home or even retirement. Avoid distractions with these tips and strategies.<\/p>\n","protected":false},"author":80,"featured_media":78218,"parent":58194,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[536,48],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[71],"rbc_difficulty_level":[33],"rbc_mmm_category":[395,393],"class_list":["post-78215","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-retirement","tag-savings","rbc_content_type-article","rbc_lob_group-investments","rbc_difficulty_level-beginner","rbc_mmm_category-ideas-and-motivation","rbc_mmm_category-inspired-investor"],"acf":{"contently_publication_id":"374353","custom_author":"The Inspired Investor team","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Exploring the \u201ccash is king\u201d vs \u201ccash is trash\u201d debate can help you better understand the potential benefits and costs of holding cash in your portfolio.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Exploring the \u201ccash is king\u201d vs \u201ccash is trash\u201d debate can help you better understand the potential benefits and costs of holding cash in your portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-16T20:07:06+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Eyes_on_the_Prize.jpg?quality=80\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/saving-for-a-big-goal-here-are-5-tips-for-keeping-your-eye-on-the-prize\/\"},\"author\":{\"name\":\"jacquelinewu\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/d055d46e444faf6863d781f24c107a5e\"},\"headline\":\"Saving for a Big Goal? 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