A financial strategy wears many hats. We ask it to perform various functions, being malleable, reliable, steadfast, and adaptable as we move through life. Sometimes we don’t think about all of the ways that money infiltrates our lives, and sometimes we do and that thought makes us overwhelmed, concerned about the significance it plays in our ability to live our lives the way we envision.
The role that finances play in your life is an important one, that’s why it is essential to establish a healthy relationship with your finances in order to maximize their impact on your life. How can you do that? The first step is to uncover your financial goals.
Your financial goals are the bedrock of your financial strategy. They guide your priorities and values as well as your spending and saving habits. But it can be easy to forget the significance of your financial goals. We want to show you how to transform your financial goals in a way that will improve your financial and personal success.
Confront Your Fears
One roadblock I see again and again with my clients is the fear of not reaching their goals. They are stressed out about the prospect of their long-term goals and if their finances are in the right place to help them reach the goals they set.
So often I hear my clients ask me:
Will I ever be able to retire?
It’s important to address this fear head-on. By naming the fear, you’re putting yourself in a position to find a way through it. Retirement is a goal that many people have. But I know that you don’t just want to retire, you want to retire comfortably and live the life you have always dreamed of. You don’t want to retire and be constantly stressed out about money, the health of your portfolio, or if you’ll need a part-time job to make ends meet.
It is important to know that you are not alone and so many people share this concern. Whether you are just starting out in your savings journey or if you have stuck with a sophisticated savings regimen, retiring comfortably is on the minds of many people.
Confronting the feeling of uncertainty in retirement can actually help shed light on the true nature of your financial goals. By thinking critically about this feeling, you will come to understand that your long-term financial goal for retirement is double-pronged: being able to retire and living the lifestyle you want.
Get underneath your fears and don’t be afraid to explore those feelings because they will help push you in the direction you need to go and can provide deeper insight into your situation.
Build A Life You Want To Live
You have a big financial goal: to retire and retire pleasantly. Now, what is the next step? You want to take your goal and put it into action. We encourage you to start with your lifestyle and work from there. Take a look at these questions to get you started:
- What does retirement look like to you?
- How do you wish to spend your time?
- Where do you want to live?
- How will you align your lifestyle with your values, goals, and priorities?
Building a lifestyle you love is one of the most important factors for a successful retirement. Applying your vision into a day-to-day reality is tough and is the reason that many new retirees feel lost or unfulfilled.
Once you have your vision for the life you want to live in retirement, then you can bring the finances back into play to set income goals and create an intentional budget. You’ll be able to see how much more you have to save or how much longer you have to work in order to make this vision come to life. You can do this in bite-sized steps to keep it simple and manageable.
Trust Your Finances
As a financially smart and conscious person, you have done the work you needed to do to save for retirement. The last thing that you can do to transform your financial goals is to trust your finances.
So many people work and save diligently their whole lives but still live in trepidation about their financial situation. If you have put in the work, you will reap the rewards. When you evaluate your finances, see how you answer the questions below:
- Are you living in fear of your finances where you are compromising your lifestyle by being too frugal?
- Have you made a plan for the wealth you hold?
- Do you know what roadblocks stand in the way of your financial success?
- Are you reevaluating your strategy as your life and priorities evolve?
Your financial goals set the tone for your strategy moving forward. Here at FPC, it is our goal to empower you to use your finances to help achieve your goals and live the life you really want. We strive to set you up for success and wish to help bring you personal and financial success.
You don’t have to look at your financial goals in the same way that everyone else does. Dig deeper into your financial strategy to uncover any roadblocks standing in your way. Construct the life you want to live and build your budget around that vision. Trust that the work you have put in will pay off.