When people think about financial success, the conversation often centres around numbers. How much should I have saved for retirement? How much should I invest? What level of wealth should I be aiming for?
While these are important questions, they may not be the most important ones. A more meaningful question is: What kind of life do you want to live?
As financial advisers, we believe that financial planning should start with your life goals, not with a target number on a bank statement or investment portfolio. After all, money is simply a tool. Its purpose is to help you live the life you want, support the people you care about and give you confidence about the future.
The challenge with chasing numbers
Many people spend years pursuing bigger financial goals without ever stopping to define what those goals are actually for. If someone asks how much money is enough, the answer could be €500,000, €5 million or €50 million. On their own, those figures don’t tell us very much.
The real value lies in understanding what that money needs to achieve. Do you want to retire early? Travel extensively? Help your children financially? Spend more time with family? Leave a legacy to future generations? Until you understand the life you want to create, it’s impossible to know what “enough” looks like.
Starting with the life you want
One of the most valuable exercises in financial planning is taking the time to picture your future.
Think about questions such as:
- Where would you like to live?
- What age would you like to retire?
- How much time would you like to spend working?
- What experiences are important to you?
- How would you like to support your family?
- What legacy would you like to leave behind?
Once these questions are answered, a financial plan becomes much more meaningful. Instead of chasing arbitrary targets, we can calculate the resources required to support the lifestyle you want. Financial planning becomes less about accumulating wealth and more about creating freedom, choice and security.
A lesson from an old story about a Mexican fisherman
There is a well-known story about a Mexican fisherman and a businessman that perfectly illustrates this idea.
A successful businessman meets a fisherman who spends a few hours each day catching enough fish to support his family. The fisherman then spends the rest of his day enjoying time with his wife, children and friends.
The businessman suggests a plan: work harder, catch more fish, buy more boats, build a company, sell the business and become wealthy.
The fisherman asks how long this will take.
“Perhaps twenty years,” replies the businessman.
“And then what?” asks the fisherman.
The businessman smiles and explains that he could then retire to a small coastal village, spend time with his family, enjoy leisurely days and live life on his own terms.
The fisherman quietly points out that this is exactly how he already spends his days.
While the story is deliberately simple, it highlights an important truth: success means different things to different people. The goal is not necessarily to have the most money. The goal is to create the life that matters most to you.
Balancing lifestyle and financial security
Of course, financial planning isn’t about abandoning responsibility or ignoring future risks. Life can be unpredictable. Illness, unexpected expenses and longer life expectancy all need to be considered. Having a robust financial plan provides a safety net and helps ensure that your lifestyle can be maintained even when circumstances change.
The key is finding the right balance between enjoying life today and preparing for tomorrow. This is where personalised financial advice can make a real difference. By understanding your goals, values and priorities, we can help you build a plan that supports the life you want to live while maintaining long-term financial security.
What does your future look like?
The most successful financial plans don’t begin with investment products or target portfolio values. They begin with a vision. What do you want your future to look like? What experiences matter most to you? What would make you feel content, secure and fulfilled?
Once you can answer those questions, we can help you build a financial plan that supports them. Because ultimately, the purpose of money isn’t simply to accumulate more of it. It’s to help you live a life that is rich in the ways that matter most.
Key Takeaways
- Financial success is about achieving the life you want, not simply reaching a specific wealth target.
- Defining your future lifestyle goals helps determine what “enough” means for you personally.
- A good financial plan balances enjoying life today with maintaining long-term security.
- Personalised financial advice focuses on your goals, values and priorities, not just your finances.
- The most effective financial plans start with a vision for your future and build the numbers around it.
