This is a fantastic question you should ask yourself, and find out what your answer is!
Let’s be totally honest. All professional planners will ask you what your financial goals are but in reality, most of us, get a bit spooked or dumbfounded, when asked this question.
We really don’t know what our financial goals are or we certainly are not able to put together a response because we simply haven’t had the chance to take the 5 minutes out of our busy schedules to even think about it!
So, as a planner myself, it doesn’t surprise me, 8 times out of ten, most clients are completely dumbfounded by this question, and stare at you with blank faces.
How would you respond?
“So, Joe and Mary, tell me, what are your financial goals?
I need to know this so I can come back to you with a financial plan to help you achieve them!”
If you were asked this question by a financial planner you are meeting for the first or for the second time, would you be able to respond with a considered thoughtful response?
You might mumble a bit, look at each other (you and your partner) have a bit of an awkward smile, look a bit lost and think: ‘Gosh! I just don’t know. I haven’t even thought about it or Wow, I haven’t been asked this question before so I can’t answer it now.’
Financial Planning – It’s not just about dollars and cents!
Next time, you get asked the ‘what are your financial goals’ question perhaps it might easier to rephrase it and try to think about responses to the following questions:
What do you care about?
– Are you concerned about looking after your elderly parents?
– Do you care about schooling and the best education for your children?
– Do you care about giving more of your time to social and community causes?
– Are you working on your ‘bucket list’ with your partner?
What motivates you to jump out of bed?
– Are you looking forward to moving into your first home?
– Are you planning the most amazing trip across the world with your travel buddy?
– Are you excited about decorating the nursery room awaiting your first child?
– Are you dreaming about giving up your day job to chase your passion?
Eventually you do have to look at the numbers because at the end of the day, your dreams and passions will require some form of funding and budgeting but don’t let the numbers stop you from thinking about your life, your future and your happiness.
The job of looking at the numbers, working out a plan or putting a budget together – leave this for the professionals to look after – after all, this is what they are passionate about, and your job is to simply focus on YOU, your loved ones, family and your future happiness and wellbeing!
Once you know what it is that makes you smile or spring out of bed every day with a gung-ho attitude then it may be the ideal time to chat to your planner about your thoughts and passions. This way you can delegate the ‘financial planning’ part to someone who really knows it and enjoys it whilst you power on focusing on what you like and what you hope to achieve now and in the future.
So, what are you passionate about? What changes would you like to make?
Go and grab a coffee and give yourself some ‘me time’, and start thinking away.
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