We’re fast approaching spring, and the evenings will gradually become brighter. Many of us will start to think and plan for the summertime. Plans could include holidays or the time we want to set aside to spend quality time with friends and family.
When we set our minds to something we want to achieve, we become focused by setting clear goals for how we will reach it. These goals or aspirations are personal and are what make our lives feel rich and fulfilled.
“Rich” doesn’t necessarily mean having endless funds, though. It can simply be having a strong set of values, a family unit, and close friends. Some would describe “rich” as having a roof over our heads or the ability to enjoy life. The point is that “rich” can be a relative term that means different things to different people.
During our working lifetime, we can achieve our goals or fund our lifestyle by essentially trading our time and skills at work for an income. This cycle of trade doesn’t really change unless the following happens:
- We come into a substantial amount of money which we can use to fund our lifestyle without having to work or
- We retire.
Although the options above may seem like different scenarios entirely, in fact, they are more closely related than they can first appear. Allow me to explain;
Both options truly rely on a simple concept - having the financial capability to fund our lifestyles without having to trade our time for work. Having financial capability behind us provides us with the financial freedom we all crave.
Of course, we all know money doesn’t buy happiness. However, what money can buy is choices. For example, do I still want to work full-time, part-time, or not at all? The ability to make choices without the worry of finances can enable us to lead the life we have always dreamed of.
Financial planning, in essence, is lifestyle planning. How do you want to live your life in the future?
We aren’t all lucky enough to come into the kind of money that is life-changing, and we have the choice to stop working. This means that most of us must instead plan and work towards the ultimate goal of having the financial capability that enables us to have the freedom to live the lives we have always dreamt of.
