The importance of setting and planning your personal goals

16th March

Stephen Palmer of Cranwell Wealth Solutions discusses setting your personal goals and how to achieve them.

What do you see when you think of your future? Will you be living in East Sussex or the Seychelles? Will you retire early or run a thriving business? Having clear goals in your head is one thing, visualising the path to achieve them is often harder. We all need to have a vision of our future if we’re going to arrive there safely. After all, if you’re not sure where you’re going, you may end up somewhere you don’t want to be.

Some personal goals can be linked to milestones such as stopping work before 60 or starting a family. While others can be based on an ambition like learning to fly or starting a small business later in life. We might want to give our children the best education we can or leave them a good legacy. Ultimately, personal goals should be based on your personal values – who you are and what you believe in.

This is fundamental in building every personal financial plan. None of us will ever have the same set of goals which is why any financial plan should be highly personal and tailored to you. Talking your personal goals over with an experienced financial adviser is the vital first step.

What happens if my goals change?

As much as we can anticipate the future, we cannot predict it. A break-up, unexpected redundancy or losing a loved one may throw you a curve ball. Our personal goals are likely to change over time. Having a robust financial plan in place can protect you through the difficult times as well as the bumper years.

A well-established relationship with your financial adviser is crucial. The longer your relationship with us, the better we can understand and support those changes to your life, and subsequently your financial plan, with practical and empathetic advice. It’s much easier to fine-tune a financial plan that already exists, rather than start from scratch.

That calm, sensible, long-term view that advisers give clients is incredibly valuable. The longer you know your adviser, the more you trust them. They can help you understand that you can manage your money well yourself and be confident in your choices.

This lies at the heart of what we mean by financial wellbeing. Having a personal plan based on what you believe in, and knowing you’ve got an expert on your side who you can always turn to, means you can look forward into the future and embrace it.

If you’d like to discuss your own personal goals, please get in touch.

The value of an investment with St. James’s Place will be linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

Cranwell Wealth Solutions, Wealth Management Practice with branches in Heathfield and Uckfield.

01435 866 101