The choices we make with our money, how much we save and for how long, and how much we spend have far more impact than the investment portfolio we choose. The shift in my attention from investment management and technical financial planning to broader involvement in clients’ lives has been deliberate. It is a result of where I believe I can add the most value to my clients.
The masterful conducting of a beautiful symphony can be likened to the process of holistic financial planning. A good conductor and composer must know enough about music and individual instruments to produce a symphony. Much like a successful financial planner who needs to have the ability to look at client’s affairs holistically, while considering all the distinct aspects of financial planning, which requires complex problem solving skills and a working knowledge of many different financial fields.
Many push attending to important issues and relationships, such as family, friendships and health, to the end of their lives because they believe they will have more time and money to deal with these matters later. Do not put living meaningful and good lives on hold because of the assumption that there is life ahead of us.
Don’t bank on a future, before you live fully because that future may not be guaranteed.
Despite the evolution of women’s roles in the workforce, they continue to encounter obstacles in attaining financial security, largely because they must balance caregiving duties with their careers, often without sufficient support. It is time to renegotiate women’s contract with society and create a more equitable environment where men and women share caregiving duties and have equal access to financial security.
Sure many financial decisions should induce a certain level of anxiety as they involve risk-taking, but with sound financial habits and advice, it is not necessary to persistently feel insecure about your money and your financial choices. Feeling secure requires a lot emotional labour to identify and uproot the roots of our feelings.
In this week's blog, Sunél highlights the evolving trajectory of retirement in the 21st century. Retirement planning has shifted from the goal of an abrupt fixed age retirement to determining personalised approaches for a more gradual transition out of the workforce. Tailoring retirement plans to individual needs and aspirations is essential for navigating the changing dynamics of work and retirement.