• Bill Savellis

A Goal Without A Plan Is Just A Wish

Last week I came across a new client who struggled to articulate what her financial and lifestyle goals were for her and her family.

It’s not uncommon to draw a blank stare when discussing goals given most people never plan past the next week or month. Not surprisingly, people live busy lives and the idea of planning 2, 5 or 10 years down the track is an indulgence most people don’t afford themselves.

So I asked her the following question:

“If we had met 10 years earlier and over that period of time we had accumulated a significant amount money, what 3 things would you spend that money on today and why?”.

Once asked, she seemed to relax and the answers came easily and effortlessly.

1. Take the whole family on an overseas trip to Africa. Why? Because this will most likely be the last trip we have as a family and I want to do something the kids will always remember.

2. Complete the renovations on the family home. Why? We started the renovations years ago but had to put things on hold because we couldn't afford everything we wanted to do. It would be nice to finally have our dream home.

3. Put aside further investments. Why? Knowing we have investments in place gives me a sense of security and peace of mind (less stress).

Financial planning is not all dollars and cents. There is a real human impact to good financial planning. So ask yourself the same question and what answers do you come up with?

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