By now, you’ve likely had a full career; you’ve invested in property or other assets and have a fair bit of savings. Retirement is within arms reach…
With the changes that this next chapter brings (including income); there’s a little more planning required to have the freedom of choice in your lifestyle.
What will get you there? Setting goals and organising your finances.
Planning for the future starts with goals
Have you envisioned your next life chapter? Do you know where you want to be?
Setting lifestyle-oriented financial goals ahead of time will reap clarity and comfort in your next stage in life.
Whatever you envision yourself doing – whether it be travel, charity work, or simply relaxation – setting those goals now will lead you on the track to achieve them.
Take our client Matthew for example; as a life-long hobby, Matthew has invested time and money into travelling internationally, and collecting model trains. But as an expensive hobby, he needed to structure his finances in order to turn this passion into a goal and continue this enjoyment in the future.
So, how will you set your goals to achieve a financially-sound future – and continue to enjoy the lifestyle you choose?
How can your ‘today’ help your ‘tomorrow’?
They say nothing is impossible, and when it comes to your future, this can be all too true.
But this won’t come without thought – start thinking about tomorrow, but don’t forget today.
Strategise tomorrow: where do you want to be?
Taking your first step involves considering where you want to go in life. More specifically; setting those lifestyle and financial goals you want to achieve for your next life chapter.
But how?
Start thinking about what you would like to accomplish in the next 10-20 years before you retire.
It could be as simple as:
Now that you’re heading into the stage in life where you’re thinking of ‘the next chapter’, taking the time to organise your finances will help you reach your goals and reap value for your future.
Put thought into the following financial elements now and build the lifestyle you aspire to!
Evaluate your income
Other than more free time and hopefully relaxation, when it comes to moving into your retirement chapter, income will be your most prominent financial change.
Start thinking about your income now, and ask yourself these questions:
- Habeeb Akande, author and historian
Determine your net worth
As you create your future path, considering your net worth will help you plan accordingly.
Your home, car, art – all of your belongings – along with your investments and cash in the bank have value. Assessing this now, will add value
to your future later.
For example, if you’re paying off a mortgage, we’ll help you strategise your finances to sort this pre-retirement.
Financial planning helps evaluate the goals you have now, and the capital you’ll need for this later – it’s about enjoying now, all the while looking towards the future.
Remember Matthew? By taking the step to ground his lifelong hobby into a future financial goal, he was able to achieve the joy of travelling internationally with his elderly father to a renowned model train convention – adding to his collection, and more importantly; fulfilling his lifelong passion.
