It shouldn't be overlooked. It's one standard component of goal setting. Take the SMART goal framework, which is employed by schools, universities, corporations and governments.

SMART goals stands for Specific, Measurable, Achievable, Relevant, and Time-Bound. It is generally thought that we need these 5 elements to effectively achieve a goal. Some versions of SMART have different variations of the acronym, but they basically mean the same.

SMART goals stands for Specific, Measurable, Achievable, Relevant, and Time-Bound. It is generally thought that we need these 5 elements to effectively achieve a goal. Some versions of SMART have different variations of the acronym, but they basically mean the same.

Well it's the part about being time bound that Im specifically talking about. If you've ever heard of Balamurali Ambati he's a medical doctor and he was a child prodigy who was doing calculus at the age of 4. He had a goal of becoming a doctor at the age of 17 which he did and so he is now in the Guinness Book Of World Records as the youngest person to become a doctor. So he had a goal, to become a doctor, and he had a time period in which he wanted to achieve the goal, by the time he turned 17. In short his goal was to become a doctor by the time he was 17.

So that's just one example of how goals often have time limits and how being time bound applies to having goals.

One of key challenges with goal setting is the critical question of A - 'achievable'. This generally influences all the other factors. And it's here where people are often bitten in the arse by Time-Bound. They can be unrealistic in what the period they have chosen to achieve a given thing. Many people want to be wealthy and retire at 40. Or be a concert pianist, by the time they are 20, or own a home by the time they are 30. Whatever it might be. People often become slaves to unachievable goals. Most of us shouldn't set our own achievement timeliness based on what a very tiny percentage of remarkable people have done.

Which is why I think the SMART tool recognises that for most goals, a series of factors have to work in tandem for the Time-Bound element to be able to work.

But it is also the case that many people in daily life don't often set goals and don't see the world in those terms. I'm one of these. I just make it up as I go and have done well this way. In my work, however, goal setting and deliverables, KPI's and timelines are a fact of life

One of key challenges with goal setting is the critical question of A - 'achievable'. This generally influences all the other factors. And it's here where people are often bitten in the arse by Time-Bound. They can be unrealistic in what the period they have chosen to achieve a given thing. Many people want to be wealthy and retire at 40. Or be a concert pianist, by the time they are 20, or own a home by the time they are 30. Whatever it might be. People often become slaves to unachievable goals. Most of us shouldn't set our own achievement timeliness based on what a very tiny percentage of remarkable people have done.

Which is why I think the SMART tool recognises that for most goals, a series of factors have to work in tandem for the Time-Bound element to be able to work.

But it is also the case that many people in daily life don't often set goals and don't see the world in those terms. I'm one of these. I just make it up as I go and have done well this way. In my work, however, goal setting and deliverables, KPI's and timelines are a fact of life

All the examples you mention (wanting to retire at 40, wanting to be a concert pianist at 20, ect.) are examples of goals with time limits but you also say you have to be realistic about the time limits. I would agree with that but that doesn't mean you aren't going to have reasonable time limits for your goals. Come to think of it, all goals have time limits because you only have so long to live so that's your time limit right there. Some goals have time limits put in place by an organization or entity that you're achieving the goal under. An example would be Boy Scouts Of America if you want to be an Eagle Scout. To be an Eagle Scout you have to be under the age of 18 to do it so you have to fulfill all the requirements to become an Eagle Scout before you turn 18 if you want to reach that goal as that is a time limit put in place by the BSA. Some goals have time limits that you might put in place yourself such as the examples you mention above even if some people put in more reasonable time limits such as retiring at 60 or 70 instead of 40.

Anyway, if you want to reach a goal within a certain time that means you can't dilly dally and take longer to reach it than you have to. In that sense, it can be foolish to be patient and wait to reach your goals if you can reach them sooner. The word "wait" is a four letter word. As such the word "wait" is not in my vocabulary, at least not when it comes to setting goals.

Anyway, if you want to reach a goal within a certain time that means you can't dilly dally and take longer to reach it than you have to. In that sense, it can be foolish to be patient and wait to reach your goals if you can reach them sooner. The word "wait" is a four letter word. As such the word "wait" is not in my vocabulary, at least not when it comes to setting goals. — HardWorker

That could work fine, or it can backfire. If you're too eager to get things done, you may charge at them ill-informed, without having considered the consequences and costs or possible fallout, or made alternate plans in case of failure. This is why most men marry women.
If that's sexist, I can go the long way around this house: This is why impatient, go-ahead, goal-oriented people benefit from the active presence in their lives of cautious, far-sighted, result-oriented people.

That could work fine, or it can backfire. If you're too eager to get things done, you may charge at them ill-informed, without having considered the consequences and costs or possible fallout, or made alternate plans in case of failure. This is why most men marry women.
If that's sexist, I can go the long way around this house: This is why impatient, go-ahead, goal-oriented people benefit from the active presence in their lives of cautious, far-sighted, result-oriented people.

Well you don't want to cut corners or ignore safety protocols in order to save time because if you do not only will you not achieve your goal but the results can be disastrous. An example would be 38 years ago today when the space shuttle Challenger exploded. The launch had been delayed multiple times and the officials at NASA were becoming impatient and so they were ignoring the warnings of the engineers who said that the shuttle was not safe to launch and that it had a faulty O-ring and they went ahead with the launch despite the safety warnings and the worst happened.

So you do want to not skip any safety protocols and make sure to not cut corners or anything but you also should not take any more time than you have to when it comes to achieving goals because time is precious, and its important to reach your goal within the time you hope to reach it because that is part of the goal himself.

you also should not take any more time than you have to when it comes to achieving goals because time is precious, and its important to reach your goal within the time you hope to reach it because that is part of the goal himself. — HardWorker

Why?
What's wrong with being distracted by a chance meeting, or going off on a side-track in pursuit of an incidental discovery, or finding some aspect of working toward a goal more interesting than the original goal? What's wrong with smelling the odd rose along the way?

I don't disagree with the part about a self-imposed time limit being part of a self-imposed goal - that's true. I just don't think either the goal or the time limit are necessarily important.
I mean, if there are puppies trapped under a collapsed building, by all means, get them out as fast and as safely as you possibly can. If you want to be a doctor, by all means buckle down to your studies, pass exams on the first try and qualify as soon as you can so you can get practicing medicine.

But if you're setting goals for their own sake, for some sense of accomplishment, no. Ticking random boxes, marking artificial milestones, amassing arbitrary credits is just filling up time.
What makes time precious is our ability to live in it - to appreciate our environment and other people, to laugh and be creative, to make connections and attachments, to help and nurture others, to observe and learn, to collect memories - to enjoy the journey.

Whenever I set a goal, usually part of the very goal itself is to get it done within a certain time period. — HardWorker

This is true. To me part of accomplishing something is get it done by certain amount of time. I sometimes allow a bit of a grace period, but nonetheless, I know if I give a time limit, I get it done.

don't disagree with the part about a self-imposed time limit being part of a self-imposed goal - that's true. I just don't think either the goal or the time limit are necessarily important.
I mean, if there are puppies trapped under a collapsed building, by all means, get them out as fast and as safely as you possibly can. If you want to be a doctor, by all means buckle down to your studies, pass exams on the first try and qualify as soon as you can so you can get practicing medicine.

My point exactly. The problem is when outside forces sometimes make you take longer.

This is true. To me part of accomplishing something is get it done by certain amount of time. I sometimes allow a bit of a grace period, but nonetheless, I know if I give a time limit, I get it done.

Exactly. And other people should not prevent you from reaching your goal within your self appointed time limit.

The problem is when outside forces sometimes make you take longer. — HardWorker

So what? Why make a problem of something taking longer than you planned? Unless the delay causes cost overruns, or missing important deadlines, what does it matter?

So what? Why make a problem of something taking longer than you planned? Unless the delay causes cost overruns, or missing important deadlines, what does it matter?

That's exactly what I'm talking about, if the delay involves missing important deadlines.

if the delay involves missing important deadlines. — HardWorker

If.
This does not apply to self-imposed time limits on self-chosen goals, which is what the OP implied.

This does not apply to self-imposed time limits on self-chosen goals, which is what the OP implied.

Oh but they do, when I give myself a time limit to reach a goal I do so for a reason.

Fine. For you.

Fine. For you.

Let's face it, you've only got so long before you get old and you've only got so long to live.

Exactly! I'm sure not wasting it striving after silly short-term goals that will mean nothing six month or a year after I attain them.

Exactly! I'm sure not wasting it striving after silly short-term goals that will mean nothing six month or a year after I attain them.

Im not talking about short term goals, Im talking about long term life changing goals.

Im not talking about short term goals, Im talking about long term life changing goals. — HardWorker

i wish you every success.