So, we’ve talked before about creating positive memories and focusing on getting a return on life rather than a return on investment.
Whilst the financial markets are still trying to find their way around the global Coronavirus pandemic and for the UK Brexit remains an unknown, you could be forgiven for watching your money too closely.
But, as you know, we encourage you to hold your nerve and focus on the horizon.
So, how do you focus on that horizon?
We recommend you start by building your LifePlan Index. Instead of worrying about if you have enough money – most of us would always wish for more – this approach focuses on your approach to life, both now and the future.
The Index is broken into three sections – Wellbeing, Progress and Freedom. Through a series of questions, the Index will score your answers to give you a measurement of where you are now in terms of satisfaction with your life. And, how effectively you are using your money to live your best life possible.
Let’s look at this in a little more detail…
Wellbeing focuses on leisure – your hobbies and interests.
How much time you are able to spend doing the things you love to do, including enjoying the company of family and friends, having holidays and taking trips.
Of course, your health plays a vital role in this, so your current health, how well you look after yourself and if you have sufficient money and protection to cover your needs is also measured.
Your relationships are also essential to your wellbeing – being able to support those you care about, provide for their future and support them in the way you wish to. Identifying if your partner and you are in sync about household finances is also key.
Progress centres around your work and achievements, learning and your home.
Does your work deliver for you? Do you enjoy your job and the contributions you make to society?
Are you satisfied with your achievements and able to attain the goals you have set? It’s helpful to know here if there are other activities you would like to pursue if you had the finances to do so.
Learning is around your desire to support children or grandchildren with their education, but also your own personal learning. Many people report enormous satisfaction if they are able to keep their minds stimulated and learn new things, so don’t underestimate this one.
And finally, Freedom.
As the name suggests, this is about you evaluating if you are financially secure enough to have the time to do what you wish to do, and being confident about your financial future. It also focuses on whether you are able to support the causes that are dear to you.
We do have to rein ourselves in a little here as we find all of this incredibly exciting and invigorating.
It is a very powerful tool and although the report just gives you a snapshot of where you are now, it enables you to draw a line in the sand. You can make decisions about your future and your finances, knowing what’s important to you. Will the decisions you make move you forwards towards achieving more of your life goals?
If this excites you, and you would like to learn more, why not start by clicking this link to find out more about your LifePlan Index.