Have you noticed? There’s a movement toward redefining money. Instead of accumulating money for what it can buy, more of us want to use money to live the best life possible with what we have—a concept we call Strategic Life Planning™ (SLP).
At its heart, Strategic Life Planning™ is professional advice based on your values and the future you want.
SLP empowers you to see a future without obstacles, benchmarks your current reality to the future, and suggests creative adjustments to reach the future you want. You gain clarity about your future direction so decisions can be made in pursuit of that future. Money becomes a tool to achieve the life you want.
The Old Way
The traditional path to saving and investing has been focused on preparing for major life events such as college or retirement. You rely solely on numbers and return. This approach does a disservice by not considering your personal aspirations and individual circumstances.
“Beating the market” is an artificial objective, because it is not likely to have a major impact on your unique situation. Ask yourself…
Is my life better simply because I beat the market by 1%?
Most people would say no. It doesn’t even come up in daily conversation for regular people.
The “Why” of Your Money
Market returns are not relevant to living your best life. How your returns compare to any fund, investment, or another person are less consequential than whether you are meeting your own life-stage goals. What is relevant is developing a personalized plan that does the following:
- Defines your vision for the future
- Provides clarity on your financial situation as it relates to your vision
- Evaluates readiness for life-stage transitions as you move through life
- Evaluates readiness of the unique transitions for your situation such as divorce, job loss, or a chronic illness
In traditional financial planning, the primary components include cash-flow, risk management, investment and tax planning, and estate planning. All of these areas are essential and necessary but there is more to developing a strong, actionable plan.
Understanding the “why” of your money allows you to avoid feeling regret at the end of life or living a life by default. By knowing your “why” and incorporating these four factors above into your planning, we can begin to understand what needs to change (or not change) in order to live the best life possible.
The Better Way
With Strategic Life Planning™, you don’t give up the best of life or the best parts of yourself just to get money. Instead of focusing on someone else’s definition of success, write your own. SLP puts quality before quantity by managing your resources in a way that improves your life and provides peace of mind.
Good planning establishes an emotional connection that encourages us to give up spending today for an event or way of life in the future. Gaining clarity on your highest and best life is the first step.
There is no greater freedom, and no greater personal wealth, than living the best life you can with the money you have.