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Why financial planning will transform your life

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Thursday February 14, 2013 at 9:00am

Have you ever noticed how on a two week holiday the second week always seems to go much faster than the first? It’s not so different in life, really. The second half seems to go much quicker than the first. If you don’t take control over whatever life you have left, or don’t give it the time or the importance it deserves you are probably heading for some painful regrets later on when it is too late to do anything about it. This is especially true when it comes to planning your financial future.

Most people accept that we all have a responsibility to take charge of our own financial futures but many need a little help in understanding what action is needed to achieve a desired lifestyle.

Are you clear on your particular financial life plan? Or like others do you need help with:

  • understanding what you need to do to live the life you want to live without ever running out of money
  • providing a real and lasting security for you and your family
  • creating clarity about what your financial future looks like, which in turn provides you with financial peace of mind and less worry
  • understanding what needs to happen to give you more time, more choices, more freedom and more life.

As a financial planner I have helped many clients find answers to these questions by using a structured three part process.

First comes understanding where you are now in terms of financial lifestyle and where you want to be in five, ten and fifteen years from now. In other words what type of lifestyle do you want to enjoy for the rest of your life?

Once you have articulated what you want to achieve it is necessary to identify all of the financial resources available to you now, and also what income and expenditure and financial resources you are likely to have in the future. And crucially what resources may need to become available in order to achieve your life plan.

So, after stage one and two you know where you are, where you want to go and what resources are available to you now and likely to be available in the future. Only then is it possible to create the plan and start to implement it. Only then can you plan to achieve what we all want, true freedom to do what we wish, which only comes from complete financial independence.

Andy Parker
Financial Advisor and Chartered Financial Planner

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Parker Chartered Accountants and Financial Advisors is the trading name for Parker Business Development Ltd (Registered No. 4116664), Parker Tax and Trust Ltd (Registered No. 06950353) and Parker Financial Planning LLP (Registered No. OC347027). Parker Financial Planning LLP is authorised and regulated by the Financial Conduct Authority. All companies are registered in England and Wales – registered office contact details here