Life planning

Life planning – What is it?

Life planning is basically a process of:

  • helping you focus on the true values and motivations in your life
  • defining your goals dreams and aspirations – both short term, medium term and long term
  • writing down those goals and objectives and the reasons for them
  • establishing a written financial plan to achieve them
  • breaking that plan down into SMART goals
  • committing to and taking action on those goals
  • reviewing those goals and the plan on a regular basis

How does life planning fit into the financial planning process?

There are many people who set themselves up as personal coaches and provide excellent help to people in achieving their lifetime goals and aspirations. However as money forms an important part of many goals, a trained financial planner and independent financial adviser can also bring additional practical help to the table

Think of it this way.

  • Financial advice is the cart
  • Financial planning is the horse
  • Life planning is the driver

There is no point having the best most efficient cart, the fastest, sturdiest horse, only for the driver to point them in the wrong direction!!!

Therefore for the most suitable financial plan, it is essential, especially for the millionaire asset group of working people to ensure they invest time in the Life planning process first.

What are the benefits of life planning?

To help you achieve the following:

  • understand what you and your spouse or partner want from life and why
  • establish a tried and tested method to achieve what you want
  • regularly review what you want and change your plans accordingly

This method of planning helps you to ensure that what you want drives your tax planning and financial planning and how you spend your money not your independent financial adviser.

Still confused about life planning?

Please call us on 01763 232326 or Email us.