we need to start planning now

Do you remember 2011? If you are like me, it seems like yesterday! 5 years can go quickly and if you don’t make plans, 2021 will be here before we know it and we will still be where we are right now.

Most of us have dreams of how we would like our life will look in 5 years’ time. Some will have specific goals but most of us don’t have a plan to map out exactly how we will achieve these goals.

As a planner, one of the things we like to do is get our clients to articulate what they would like to achieve for both their financial and lifestyle goals. This is important as most lifestyle goals are heavily linked to our finances.  The mere act of sharing goals with another person makes us more committed to achieving them.

Although traditional financial planning goals seem to revolve around retirement, there are a number of other goals much more relevant to younger clients.  Many of our clients are either planning to buy or upgrade their home, planning a dream holiday or to become debt free.

Once we have established what we are working towards it is a matter of establishing a plan, how much will this cost, from where in the budget will we re-direct funds and how long will it take to achieve it.

All of a sudden we are moving forward! These goals will be fluid, as life moves forward we will be continuing to achieve goals and make new ones. This is why the financial planning review process is so important. Our goals aren’t point in time, nor should our financial plans be. If we continue to update both our goals and our financial plans, we are far more likely to achieve what we would like in life.

Before we know it, we will be bringing in 2021.  If we want to turn the visions we have for our future into reality, we need to start planning now.