Is Life Planning The Future Of Financial Planning?

The stories were everywhere following the collapse of the financial sector and they all read the same way. People had put money away for a rainy day, only to find it had evaporated.

Many of these people had invested in hedge funds, which they had hoped would get them rich, or had taken loans on properties they couldn’t afford. Suddenly, those who had been touting their money didn’t seem so wise anymore, and people began re-evaluating their lives as a whole.

Out of this has come a renewed interest in life planning as a form of financial planning. The distinction between this approach and the tired old guard of the traditional financial planner is immense.

The simple reality is you need a life plan before you work out what to do with your finances. Here’s a snapshot of what a life plan will do for you and why it’s the future of financial planning.

You’ll prioritise your values

Your parents are likely to have had priorities for you, your boss most certainly does, and your partner probably has a few plans in mind for you too, but when was the last time you thought about yourself? Where do you figure on your own priority list?

A life plan will help you to discover the answer to this.

You’ll live a more balanced life

In the fear-driven quest for cash, a lot of practical things can be destroyed along the way. Marriages can be decimated, children’s first steps missed, and health compromised while you pay for your boss’s new yacht.

A life plan allows you to find your balance, compartmentalising your time between health, family, your partner, and your career. Contrary to popular belief, sacrifices don’t need to be made to enjoy these things, and if they do it’s because you’ve chosen to sacrifice them.

You’ll empower yourself

Something as simple as taking the time to write down what you want from the different areas of your life will empower you in many ways.

Firstly, you’ll learn to forego small and pointless pleasures and habits for the sake of the bigger goal. Secondly, you’ll learn to avoid people and environments that are toxic to your values, and thirdly you’ll have the strength to face your current barriers and weaknesses with a view toward removing them.

You’ll envision your future

A life plan will highlight the tools you need to get you where you want to go. Visualising the future with clarity is vital for getting there, and your life plan will allow you to do just that.

Most importantly, you can do it in all areas of your life, while working out exactly how to integrate each component harmoniously.

You’ll have a roadmap

If you’ve ever been part of a work project, you will have sat in on endless meetings discussing overall objectives, the plan of attack, and milestones. This time you’ll get to do that with things that matter to you.

You won’t regret a thing

The biggest tragedy that can befall a person is for their life to end unfulfilled. A life plan will show you how to stop crashing through your life and will teach you how to live with purpose and passion.

If there’s no other reason you should do a life plan, there’s this one – and it counts for everything.

You’ll reposition your attitude toward money

It’s strange how people live their lives as if money is something to battle against or be afraid of. Life plans repurpose finances so you can meet your dreams, rather than have you slaving away to earn that nebulous amount called ‘enough’. Money should only be the means to an end, and that end should be a life lived on your terms.

To find out more about life planning or any other form of financial advice, get in touch with us today by calling 01993 772467 or contact us online.

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Let me say that we are really pleased with your approach and advice. We particularly enjoy your "finance is just part of your life" philosophy, as I know that what you offer and what we buy are different. We are buying reassurance, big time (because finance is part of our lives and we only have one life). You offer your expertise, organisation, attention to detail, interpersonal skills and methodology. You are giving us reassurance, so thank you! C.L. (Oxford)

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