We all have goals and dreams for our lives and our families. However, as a licensed financial planner, we know that most people do not feel secure and confident enough in achieving all of their often conflicting goals and dreams with the resources they have and we also realize it is not a question of “how much I have”; but rather, a question of “how do I get from point A to point B with confidence?”
After our mid-thirties, the questions below will inevitability pop up in our minds:
- Am I on track and making the right financial decisions toward my retirement?
- Can I afford my children’s education without jeopardizing my own retirement nest egg?
- Am I optimizing my investment returns with manageable risks? Can I do better? How?
- Is there a way to have more surplus without cutting down?
- What is my current financial health condition?
- Am I overpaying my insurance premiums?
- How can I get sufficient human life value protection for my family and business?
- How can I visualize the cause and effect of my multiple financial goals?
- What are the best financial in the market that can do an objective comparison?
- What should I do with my business so I can retire while still reaping passive income from it?
- How do I preserve my wealth for my family after I pass on?
- I want to avoid making costly mistakes that will jeopardize my retirement
ENTER – THE FINANCIAL BLUEPRINT
The 3 integral parts of a properly constructed Financial Blueprint — Net Worth, Cash Flow & Financial Emotional Analysis can assist anyone in answering these 3 questions with clarity:
- Where you are now
- Where you want to be
- How to get there from here, starting now
The tangible benefits felt by clients after having their financial roadmap charted out via a Financial Blueprint is as below. It does not matter whether you are an employee or in business — it will benefit you all the same.
DEBUNKING THE MYTH
Charting a Financial Blueprint should not only start when you fall into any financial troubles. It is about viewing, consolidating, and analyzing all inextricably connected aspects of your financial standing, thus enabling you to make better financial decisions. Prudent decisions based on facts and data instead of emotions or wild guesses.
It is being more informed and reducing the mistakes — because it is a fact that as we get older, the fewer mistakes we can afford to make as the timespan to recover financially from these mistakes becomes shorter.
OUR MAIN ENEMY… AND FRIEND
Procrastination. It is hard to fight against intrinsic human nature. On the other side of the spectrum, our friend when it comes to financial planning has always been “time” itself. Contrary to popular belief, it is not the return rate.
Just look at our liquid assets and for most people after their mid-thirties, EPF constitutes the largest lump sum of funds. EPF does not give the highest return, yet, over time and consistency in contribution, it balloons up effortlessly.
To quote, Manoj Arora, the author of From the Rat Race to Financial Freedom:
“Long term thinking and planning enhances short term decision making. Make sure you have a plan of your life in your hand, and that includes the financial plan and your mission.”