Following the year that disrupted and derailed most resolutions and plans, it’s probably best we don’t dwell on 2020. However, now a new year is here, let’s focus on some new goals, with the hope that we might eventually have back some form of normality.

If 2020 has taught us anything, it’s that we can’t predict what’s to come and to appreciate the simpler things we once took for granted. It’s been hard to plan when everything has seemed so unknown, but the best way to start thinking about the future is reminding yourself of your previous goals. Some of these may have changed, may no longer be relevant, or might need tweaking, but that’s ok. Your plans can adapt and change in-line with the world around us.

Perhaps this year has given you a new perspective, and you might now appreciate that to get to where you want to be, you need to be actively thinking about what you’d like to do differently.

Say you’re not enjoying your job or lacking some security. Maybe the recent restrictions mean you’d like to move a little closer to your loved ones, as the time apart has been made all that more difficult due to the distance. Whatever plans you have with your money, financial planning will tell you how feasible it is. After all, how can you say something is out of reach when you don’t know how wide your net is?

Lessons of 2020

We’ve had our fair share of food for thought over the past year, and here are some of the key things we can take away from 2020:

• Make the most of every day

Never will we ever take for granted the simple privileges in life.  Catching up with friends, the power of a hug, or maybe you’ve missed something else recently. And, whilst we may still feel restricted at the moment, it’s still important to make the most of every day.

• Be kind, always.

The events of 2020 hit us all in different ways. However, in reality, the pandemic has only highlighted that people are fighting their own invisible battles. Show kindness, always in all ways.

• Support small.

Each day we make a conscious choice about where our money goes. During 2020 our opportunity to spend drastically reduced, so why not continue to support local community projects, charities and small businesses that you valued over the past year.

So, after a bit of reflection, let’s turn to the future.

New year, new goals

Goal-setting is key to getting to where you want to be in life. It’s an essential part of our financial planning process.

To get your planning wheels in motion, here are the main areas of your life that you should be setting goals for:

• Family goals – What do you want for you and your family?
• Social goals – (Last year aside!) Are you living a fulfilling social life, or is there something you could do to bring you more fulfilment? Think along the lines of hobbies you’d like to pursue and new ways in which you could connect with other people.
• Spiritual goals – This is more about your personal growth. Do you want to try and spread more kindness, practice gratitude or start meditating?
• Educational goals – Do you have any interests that you want to delve deeper into, or would you like the challenge of going back into education?
• Career goals – What’s next for you? Are you working towards a promotion, want a career change, or thinking of retiring?
• Financial goals – Think in terms of your savings goals; what are your planned future expenses? Retirement? A holiday home? Travel? Children? Grandchildren?

You can read our previous article for more on the importance of goals. However, while goals create a vision of the future, we also need to set objectives. Goals and objectives often seem interchangeable, but they’re not; objectives provide the focus to achieve your goals, and both are as important as the other.

Planning for a better future

The first step in our financial planning process is to establish your goals and priorities. We tailor our advice to your specific circumstances and agree with you the stepping stones needed to achieve those goals; these are your objectives. Then, our job is to organise your finances, so that you’re in the best financial position to be able to achieve those goals.

Life changes. And, so will your goals. We revisit these goals and objectives yearly to make sure your plan stays up to date.

The value of advice

Financial planning is the process of developing strategies to manage money in a way that will achieve your goals. Money is a tool to help you to get to where you want to be.

Not only do we work holistically, but our financial planners have also completed extensive life planning training. We’re trained to see the bigger picture. Our planners work with you to help you realise your goals, as well as provide the foundations and stepping stones for you to achieve these goals. And, as we’ve already said, we’ll be cheering you on from the side-lines the whole way, offering guidance and support. That’s where the real value of financial advice comes in.

If you’d like to discuss planning for the future and setting goals, then please get in touch with us and speak to one of our financial planners.