By Ember E. Martin, CFP®
Are you stressed about your finances? Do you worry about what your financial future might look like if you don’t take a more proactive approach to your plans and goals? If yes, you are not alone. Many American professionals and families worry about their ability to weather financial stress and move toward goals that will give them financial freedom. Working with a financial life planner can alleviate these concerns and give you the confidence to know that you’re planning today for a better tomorrow.
Financial life planning is a holistic method for establishing financial and personal wellness. In addition to the numbers side of your current financial situation, financial life planning considers your values, goals, and aspirations to craft a plan that will help you live the life of your dreams.
Financial life planning is also a dynamic process. A financial life plan isn’t simply created and then executed. A financial life plan is a flexible plan that is revisited often throughout your life. It evolves as your circumstances change, as your goals change, and as your values shift depending on the stage of life you’re in.
Benefits of A Financial Life Plan
A financial life plan differs from traditional financial planning in significant ways. Whereas traditional financial planning focuses solely on quantitative information such as income, expenses, retirement savings, and taxes (among other things), a financial life plan takes a more comprehensive approach to financial planning. A financial life plan considers an individual’s values, money mindset, money insecurities, attitudes around risk, and spending habits. The combination of both quantitative and qualitative information allows you and your financial advisor to create a financial life plan that aligns your financial life with your closest held personal values. Examining the qualitative aspects of your financial situation also helps your advisor create a plan that resonates with you.
The benefits of having a comprehensive financial life plan cannot be overstated. Some common benefits include:
- Clarifies and prioritizes your goals based on your values
- Financial peace of mind, balance, and freedom
- A game plan to live within your means
- A meaningful retirement or financial independence goal that’s achievable
- Customized strategies to reach your goals realistically
A financial life plan is tailored to fit your lifestyle and give you greater control over how you achieve the life of your dreams. Like budgeting, a financial life plan will give you clarity about where your money is going and where you want it to go. Rather than restricting your spending, a financial life plan gives you control and frees you to make informed decisions with your money.
Who Needs A Financial Life Plan?
Many people mistakenly think the only people who need a financial life plan are high-net-worth individuals. This could not be more inaccurate. 62% of U.S. adults are concerned about their retirement. (1) Everyone who works hard and dedicates themselves to decades of good decision-making and planning deserves a comfortable retirement, but only 36% of U.S. adults would turn to a financial services professional for financial advice. (2) Perhaps this is a shortcoming of the financial services industry, which is why Vested Wealth Advisors is committed to serving underrepresented groups in financial advising, such as millennials and women.
You need a financial life plan if…
- You are uncertain about how to prioritize your goals
- You are not sure how much to save for retirement
- You are uncertain how to pay off your debt most effectively
- You are anxious about your retirement savings
- You want to feel more control over your finances
- You are committed to gaining a better understanding of your financial decisions
- You are finally ready to take a more proactive role in your financial future
If this sounds like you, it’s time to take a step toward financial (and general) peace of mind. We at Vested Wealth Advisors specialize in creating a customized financial life plan for each of our clients. If you’re ready to get started, schedule a free 15-minute introductory phone call online or reach out to me at 844-548-2887 or info@vestedwealthadvisors.com.
About Ember
Ember E. Martin is founder and managing principal at Vested Wealth Advisors, an independent financial planning firm. With over 20 years of investment managing and financial planning experience, plus his CERTIFIED FINANCIAL PLANNER™ (CFP®) credential, Ember strives to help his clients live a high-quality life through customized advice and an unmatched level of personal service and confidentiality. Ember has become known for providing personalized guidance, creative solutions, and results-driven services that go beyond what many have come to expect from traditional financial advisors. When he’s not working, Ember enjoys sharing life with his high school sweetheart, Donna. You can also find him cooking, reading, traveling, hiking, playing chess, and spending time with his two teenage daughters, Lucie and Truly. To learn more about Ember, connect with him on LinkedIn.
______________