How to Prioritize Conflicting Financial Goals

It’s the beginning of the new year — just far enough in that our resolutions may already be dissolving into indecision. And I get it. Life is full, and decisions about money, retirement, or helping our families can feel overwhelming. But without a clear plan, indecision often becomes our default mode. And default mode rarely leads to the life we want.

I recently discussed this very topic with my friend Dezarae Jackson of Amsted Industries in a webinar we co-hosted. Together, we unpacked how people in their 50s and 60s can approach conflicting financial goals with greater confidence and clarity.

👉 Watch the Full Webinar on YouTube

What Are "Conflicting Financial Goals?"

You can afford anything, but not everything. Whether you’re managing ESOP distributions, evaluating long-term care needs, or helping a child through college, the tension between competing goals is real. The key is to use a practical decision-making framework to gain clarity and confidence.

• Should I retire now or work part-time?

• Pay off my mortgage or keep investing?

• Help my kids financially or focus on my own retirement?

• Delay Social Security or claim early?

• Use a windfall to pay off the mortgage or build retirement income?

Each of these choices has trade-offs, and avoiding them can lead to costly delays or stress. It can be helpful to have a framework to prioritize and address your decisions.

Three-Step Clarity Framework

1. Clarify What Matters Most

   • What are your values? Security, independence, generosity?

   • What’s your mission? What drives your financial decisions?

   • What’s your vision? Where do you want to be in 10 years?

2. Apply the Three Decision Lenses

   • Urgency: Does this require immediate action?

   • Impact: How significantly does this affect your life now and in retirement?

   • Alignment: Does this support your long-term values and vision?

3. Run the Numbers 

   Forecasts—not guesses—can reveal whether you’re on track. A couple of hypothetical examples based on real world questions:

   • Carlos & Lisa inherited $180K and used a forecast to decide to invest it towards early retirement rather than pay off a 3.25% mortgage.

   • David & Amy used their ESOP diversification opportunity to reduce risk, not because they had to, but because it supported their vision of stability.

Creating a financial forecast with your numbers can provide clear guidance on the best course of action for your family. 

The Costs of Indecision

Avoiding decisions may lead to unnecessary taxes, missed deadlines, and emotional stress. Failing to update retirement account beneficiaries or delaying Roth conversions are common pitfalls. A clear plan brings peace of mind—and puts you back in control.

If you spend more than a few hours researching a financial decision, it might be time to bring in a financial advisor who can crunch the numbers and give you the confidence to move forward with a concrete plan.

Final thought.

You don’t need to make perfect decisions. But you do need a process that puts your values first, reduces confusion, and aligns your money with your goals.

Ready to gain clarity? Let’s start planning.

SCHEDULE A CALL with PEAK WEALTH PLANNING.

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About the Author

Peter Newman is a Chartered Financial Advisor (CFA®) and president of Peak Wealth Planning. He works with individuals nationwide that have accumulated wealth through company stock, ESOP shares, real estate, or running a business. Peter applies his unique background to help clients achieve their specific goals and enjoy peace of mind.

Peak Wealth Planning offers personalized concierge services to meet your wealth management needs, including financial planning, investment management, ESOP diversification, retirement income, insurance, and estate planning. As a fee-based financial advisor based in Chicago, Peak Wealth Planning serves a select group of clients in Illinois and across other states.