In the early days of my financial planning career a lot of the people that I found myself sat in front of reflected my own age. Like me they were young and enthusiastic about life, eager to make the most of every opportunity and experience.
However, I had also already experienced dealing with older clients retiring on very limited financial resources and could see the impact that the lack of financial education and planning could have. The disappointment and regret I saw with those that had made no provision for the future and had taken the attitude to live now and plan is why I encourage my clients to start planning as soon as possible although they may not be able to picture what it looks like now.
I do reflect on the changes that I have witnessed in my own life and attitudes as I have grown and how this has impacted my longer plans… the live fast and die young thing only lasts so long! However, I also believe that life isn’t a rehearsal and why wait until you are in the later years to enjoy yourself!
As a financial planner with 2 kids, I understand that life is about balance and making the most of the present while ensuring a secure future and I have met many individuals who feel torn between enjoying the present and saving for the future.
They often think that they must sacrifice one for the other, but I strongly believe that this doesn't have to be the case. With proper planning and developing a ‘spending plan’, it's possible to live for the now and still have one eye on the future.
By having a financial plan in place, you can determine exactly how much money you need to set aside for the future, and how much you can afford to spend on the experiences you want to have now. This way, you can confidently enjoy the present without sacrificing your future plans.
One of the biggest mistakes people make is thinking that they have plenty of time to start saving and planning for their future. But the truth is that time flies, and before you know it, you'll be in your mid-50s or 60s, still eager for experiences and adventure, but with limited financial resources to support your ambitions.
As a financial planner, I truly believe that it's never too early or too late to start planning. Whether you're just starting out in your career, or you're already in the second part of your life, it's important to have a plan in place that will help you achieve your financial goals and support the lifestyle you want to live.
Living for the now and having one eye on the future is not an either/or proposition. With proper planning and budgeting, you can enjoy the present while ensuring a secure future.
Start planning for the future today and enjoy the peace of mind that comes with knowing you have a plan in place to support the life you want to live.