In principle "yes", however .doc is too vulgar for my developed taste in file-formats and word processors. So, it's an .opml but the basic attitude is the same.
I have them in a (digital) folder in my standard-GTD general reference plus project support filing system. The folder is named "goals", or similar, and the files are named by the dates the goals are active. (It is also easy to re-activate something by duplicating the file and just renaming it. But, I guess with HoF this is not a too often exercised use-case .)



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