Lifestyle Financial Planning


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Lifestyle financial planning is understanding the soft facts about how you approach money and what it brings to your life. Lifestyle planning aims to clarify what your hopes and aspirations for the future are and to choreograph your financial goals. Ask yourself; how much money do you want to retire with? What motivates you? Why is money important to you and where do you see yourself in the future? If you could look backwards in ten years, what would have happened for you to have had a happy and fulfilling life? Big questions, which admittedly need some thought, but very important ones to ask when planning your life’s finances.

Then it’s down to the numbers. This is where I need to understand the hard facts and start crunching the figures. I need to ascertain what you have coming in, and what there is going out. These figures need to be fairly exact so for example, what is your salary, income from bonus, investments, inheritance, rental property income, business sale or the sales of any other major assets. I then need to know what goes out such as; mortgage payments, education fees, daily living costs, debts, family commitments, pension contributions, and anything else you can think of. From this thorough conversation with you I will create a cash flow model, and this will indicate whether or not you are on track to achieve your goals. The cashflow model will highlight any gaps you may have in your financial structure or conversely, if there are surplus funds for further investment.

The results of the assessment allows me to build a plan around the facts I deduce from cash flow modelling and from the information you gave regarding your hopes for the future. If there is a gap, I will find a way to bridge it and keep you on target, where there is surplus I will look at bettering your goals. It may be that you can improve your situation by doing little more than rearranging a few savings, or it could be a complete restructure depending on your circumstances. Once everything is in place I enter the review phase. This is not simply looking at any investments, it’s ensuring your plan remains appropriate to your needs, that changes in your personal life haven’t affected your objectives and that ‘what ifs’ such as what if you lose your job, what if you grow your family? Are addressed and managed, giving you and your family the best chance of fruitful and financially sound life.