Financial Life Planning – is it only about Financial Planning?

what is financial life planning

Whilst Financial planning helps in understanding financial goals and arranging present and future resources accordingly, Life Planning delves in organizing your money in a way that financial resources are dedicated to supporting your life’s greatest values, meaning and purpose. The key distinction between financial planning and life planning is that life planning is generally more than just managing the investments and numbers. Instead, the focus is on all the intersections of your life and the financial decisions you make.

At Plan Ahead, through Financial Life Planning tools and processes, we focus in understanding thoroughly the current satisfaction levels of our clients, their emotional aspects and plans about family and what changes they would want to bring in their life. We aim for clients to gain clarity of purpose and the freedom of living as fully as possible without the headaches, complexity and the regret of uncertainty. Once we have learned what’s most important for our clients, we then arm ourselves with all of the relevant financial data, we begin to plan. We develop detailed recommendations and alternatives, all carefully researched and not just based on the best financial data and practices available, but solutions that are customized based on our clients’ goals and values.

A lot of people do ask whether Financial life planning is somewhat taking on the aspects of life coaching as it helps pinpoint one’s life motivations, challenges, values etc. There’s one big difference though – most life coaches do not usually, delve into the money aspects. A Financial Life Planning practitioner infacts tries to understand the emotional attachments between client’s life and money.

From our experience, a Financial Plan could provide clarity to your current financial status and fulfillment of future goals. Here, Financial Life Planning goes further and could increase your understanding of your true values, motivations, objectives and attitudes that will facilitate your financial and life decisions and support a more satisfied richer life.