Is your life about to change this year?

The milestone of the new year is a time when we look both over our shoulders at what has been and forward to what may be. We try to take what lessons we can from last year to help us shape next year, writes Financial Planner Sasha Campbell.

If you currently find yourself at a crossroads or deliberating on what the best course of action may be for a positive year, my humble suggestion would be to have a plan. (A financial planner recommending a plan, hide your shock!) But in both my personal and professional life I am a planner, and from experience know the comfort and positive outcomes it can provide.

I am a strong advocate of informed decisions, stepping back and looking at the bigger picture before taking action (or deciding on inaction if that’s the best choice). So how does one ensure they are making an informed decision?

So frequently, emotion clouds our judgement; the lack of critical distance, or the inability to take an objective view of things, can hinder us from even beginning to consider climbing the metaphorical mountain of weighing up the potential paths we can take.

For some, time is a factor, if you’re busy spinning plates, when do you stop to consider which to stop spinning….and the potential consequences of that? When do you make time to take stock and weigh up the value of each spinning plate?

And what has any of that got to do with a financial planner? Well, unfortunately, the majority of our major life decisions are intertwined with our budget. So, if you get the finance side of things wrong, you might find yourself strapped for cash or time because you’re busy spinning too many plates, and having to say no or passing on opportunities you wish you could take.

This is why all our clients start their journey with us with a plan, we ask them to map out their lives from now until age 100. It’s a bit of a ‘this is your life’ moment with a visual aid, using snazzy technology which factors in all the underlying figures and predictions to provide our clients with a clear idea of what their life will, or could, look like.

The real value of this plan is our ability to answer our client’s burning questions, ‘What happens if I sell my business?’, ‘I am divorcing, what will life look like for me now?’ or ‘I’m changing careers, how does that change my future?’. We can interactively play out these scenarios, showing them how the change of direction would lead to a different destination. Helping my clients to have clarity and enabling them to make informed decisions, it’s my favourite part of my job, turning initial stress and indecision into confident calm action.

So, if you are currently in a period of transition, I strongly recommend as an enthusiastic personal and professional planner, to make the time to form a plan, allowing yourself a graceful transition with as much foresight as possible. If you feel you need some objectivity or some professional help with that, get in touch.

Happy New Year all!