The Dreaming Biker

The language we use in financial planning can be somewhat foreboding. Take the word ‘retirement’, for example. It brings with it images of a gold watch and being put out to grass. It sounds like no longer being wanted and getting old.

The word ‘pension’ is even worse. You might as well tell a young person to put their money into a locked box; the key to which will be given to them far, far into the future, and only then if they don’t die first.

So mention ‘retirement planning’ to most people under 35 and their eyes will glaze over, never mind suggesting that they ‘start a pension’.

Let’s change the language we use when thinking about the future. Let’s speak in terms that will shift the focus from one of ‘planning for retirement’ to gaining an understanding of what we want from our lives, now and in the future, and then plotting a path which can give as much of this as possible.

Financial planning with wellbeing as its primary aim.

I heard a story once about a man who was a biker. Hairy fella he was, looked terrifying but was actually a sweetie. Now this chap decided at the age of 21 to start working permanently on the nightshift. He worked nights six days a week, and planned to do so for fifteen years. He could not spend much money because he was working all the time. He basically put his life on hold.

At the end of the fifteen years, he stopped working, got on his bike, and went off round the world. When the lady who told me this story met the biker he was 8 years into his travels, and planned to continue travelling for another 7 years. Then his travel fund would run out and he would have to go home.

The biker had worked out what he wanted from his life, and had created a – fairly extreme! – plan to get there. No life for fifteen years, then the greatest life he could imagine for the next fifteen years.

Now THAT’S financial planning!

 

If you are on Twitter, please do follow our new account: @FinWellbeing

Stay in touch: News & Views from Ovation Finance


To get the latest news straight to your inbox including budgets, quarter reviews and white paper articles


*We will never give out information to a third party

Blog: How to Invest with Success…

It might sound obvious, but it is crucial that you consider the benefits and possible drawbacks whenever

you’re making an investment decision, as a recent and awful news story highlights in this post.

Posted by:
March 29, 2019

Episode 48 – The Money Plan with Warren Shute

In this episode we have a special guest interview with Warren Shute. Chris talks to Warren about his new book The Money Plan, a brilliant resource for those who want to take control of their finances. Chris, David and Producer Tommo take a look at listeners questions and some radical #tightasstommo tips in an episode … Continued