In the rush of daily life it can be tough to see your way past the next set of bills, school fees, or grocery receipts but looking at the ‘big picture’ is just as important as dealing with your immediate financial situation. Especially your investments.
Strategic financial management takes a long-term view of your investment portfolio and overall financial health. It’s a way to future-proof your finances and find a plan to support the life you see yourself living.
Strategy is the important word here. It’s a tactic you and your financial planner should be using to help achieve your financial goals. Sounds a bit militaristic, doesn’t it? And that’s the point! Just like a General planning a mission, you and your financial planner can come up with a strategy to make sure you live your life on top. And a little bit of strategy now can make a big difference to where you end up financially later.
A discussion with your financial planner should involve an honest talk about your life goals and aspirations, how do you imagine your lifestyle five or even 10 years from now? Do you want to be able to invest in property? What does your ultimate retirement vision look like? Knowing the answers to these questions will help your financial planner help you.
You’ll never really know what’s around the corner but as the old adage goes “if you fail to plan, you’ll plan to fail” – investing in some help with your strategic financial planning means you’ll always have a plan in place.