Lifestyle financial planning is simple but not easy. What I plan for my clients is the same as I plan for myself, I have a plan built using the same software and assumptions.
I could sum it up as not wanting to wake up dead tomorrow and leave my family financially destitute (hence I have adequate life insurance), the same if I were to have a prolonged illness or accident. I would want to be financially protected (hence I have adequate income protection). I also wish to save as much as I can for my unknown future and invest according to what history has shown is wise (a well diversified global portfolio of high quality securities, costs to a minimum). Not become a burden on my family or the state in my later life if I enter a care home and to leave a meaningful legacy to the causes and people I care about the most, all delivered in the most tax optimal way.
Along with living a fulfilled, fun and active life, this is what I wish for financially. In essence this is the same outcome the families I serve want. I insure myself in the same way I preach, I invest in the same way I preach. How on earth could it be any other way? Our long term goals are the same.
In ensuring the financial lives of the families I advise, in turn i'm ensuring the lives of my own family. This is why financial advice is considered a noble profession. One that i'm very proud to be a part of.
The content of this article is for information purposes only and does not constitute a personal recommendation. You should always speak to an FCA regulated financial adviser when considering financial advice. Any recommendation made will be based on a full suitability assessment that will include a comprehensive review of your circumstances, needs and objectives.