If everyone is different, then how can we approach financial planning in a way that suits billions of different choices? Well, that’s as easy as 1,2,3… 4,5!
There are five questions that we ask, all the time, and we always get different answers. And that’s not just with different clients; that’s even with existing clients. Every time we meet and talk about life and money with our clients, we discover that things have changed, and we need to adjust the plan accordingly. This is how we approach financial planning to suit your personal, unique needs.
Before we chat about these five questions, it’s important to note that we don’t have to find precise answers to them. It’s better to ask a question and not know the answer than to have a bunch of answers that we can’t question! As we explore some of these questions, it’s more about developing and encouraging a growth mindset, asking ourselves what’s possible rather than sticking to what we think is cast in stone and can’t be changed.
So – here are the five questions:
- How much money do I have? (what am I worth)
- How much money do I need? (what’s the gap between what I have and what I’d like to have)
- How can I get from what I have to what I want? (plan, save, protect and invest)
- How can I stay motivated? (sticking to the plan, or adapting the plan)
- How can I celebrate my progress?
At first, these questions seem pretty clear cut, but the older we get, and the more complex our lives become, the more time we need to spend on each question. It’s also helpful to go through these questions with our financial advisor or coach, who can start to see what we can’t and help us dig deeper into each of the questions.
But essentially, this whole exercise is aimed at helping you get more out of life (and your money). It’s not about following rules or living the life you feel was expected of you. It’s about accessing better options that suit you and your family and your personal needs, because every single one of us is different.
If you’d like to go through some, or all of these questions, and would appreciate a second pair of eyes and an expert opinion, please feel free to reach out and let’s chat!