Retirement can be an enormous aspiration or a big concern, depending on whether you’re financially set for it or not. This is a matter that is ever more relevant in a world that has been shaken up so much recently.

Why should you consider lifestyle financial planning?

Proacting is always better than reacting, but people are proven to only search for financial planners and advisers once they’re already facing tribulations or abrupt decisions. These can be of many sorts, pension concerns, tax issues or handling an investment opportunity on a short timeframe that they’re not sure of.

The Importance of Lifestyle Financial Planning

First, you should have in mind your current financial status. Don’t take into account variables as you’re too young or too old for this or that, future promotions or whatever—just the raw current situation.

Next, proceed to imagine what it is that you want to achieve in the future! A new house? Exciting travels? What do you wish for your closest family?

A Financial Plan that accounts for your lifestyle will aid you in planning and meeting your financial goals with control, simplicity and stability. Face it as a way to have a clear path to the lifestyle goals you set for yourself. You’ll get a plan to help you control what you have, what you’ll spend and what you have to change to achieve a financially stable future with the lifestyle you aspire to.

A tailored Lifestyle Financial Plan will assist you by elaborating a realistic and rounded view of your current finances and the expectations you can have with that status. The Financial Plan will describe all the potential situations and what-ifs such as significant life deviations and changes, planned and unplanned, in order to prepare and adapt quickly in response to those events.

Understanding how and how much a financial decision can impact your financial situation and finding ways to manage and control them is very important for achieving your goals.

It’s all about thinking for the long-term

When making financial plans for lifestyle purposes, it requires a bespoke and more intensive approach when compared to general financial planning. A financial planner can only make a suitable plan when he knows exactly what the financial situation is, your consuming habits, and where you aim to be in the future. The better your priorities are known, the better the plan will act according to your current and desired lifestyle.

After a thorough examination of your financial conditions in detail, then we can plan the solutions to guide you to the life you crave for. Solutions that can include:

  • Reduction of tax liabilities in a personal or business approach
  • Reduction of spending by budgeting
  • Better employing your investment money
  • Matching your portfolio to your risk and rewards expectations
  • Develop a wealth plan to ensure your desired future lifestyle
  • Protect your family in financial terms in the event of unforeseen situations
  • Create a plan to transfer your wealth to your family in tax-efficient ways

A regular plan review is advised to match your evolving behaviour to your lifestyle financial objectives. A well-carried plan will change your financial life as well as the way you face money.

As any well-sorted plan, a Lifestyle Financial Plan is open to tweaks and readjustments to help you stay on course and well guided to reach your destination, your final desired goal!