In announcing his intention to challenge for the Prime Minister’s job, Malcolm Turnbull raised an issue that is close to our hearts, here at Eqeus.
“…our party has the right values…What we have not succeeded in doing is translating those values into the ideas and policies that will excite the Australian people”
Whether or not you agree with the values of the Liberal Party, there is a strong lesson here for all of us that translates directly into how we go about financial planning.
Everyone has a set of values; the things in life that are most important to them. Whether these values are family, creativity, fun, learning, adventure or philanthropy, these are the guiding principles that help create a life that is both meaningful and satisfying.
Just like our new PMs admonishment of the Liberal Party; where many of us fail is in translating these values into the goals and actions that make them real.
The first step, and the one many people don’t expect when consulting a financial planner, is to really articulate these values and put them down in writing. There are many values out there, with none better or worse than others, just different. Really taking the time to think through which are the most important to you across the family, career, health and social domains provides an underlying structure on which your ideal life can be built.
The next crucial step is to take these values and translate them into meaningful and tangible goals (your personal ‘policies’) that represent the achievement of a great life that is congruent with your values. These goals should really excite you, with a clear vision of how achieving these goals will contribute to the ideal life for you. Knowing these goals allows us to work with you to craft a financial plan that maximises the probability of obtaining these outcomes and living the life you desire.
We know that less than one in four people regularly set financial goals and too often we see people with goals that mistake means for ends so achieving them doesn’t bring the satisfaction of completing something that is truly meaningful. Articulating your values, setting meaningful goals and having a coach to guide and inspire you along the way is the proven formula for success.
To learn more arrange for your one hour complimentary consultation with Eqeus.