Financial life Planning…How Do You Integrate Life Planning and Financial Planning?

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Do you know about financial life planning?

Integrating a life coach into a comprehensive financial plan can transform your retirement planning experience. Once you are financially and emotionally prepared, making the decision to retire is empowering. The end result is something we all aspire to…a more fulfilling and enjoyable life.

Financial life planning is a holistic process that applies traditional financial analysis within a framework of the individual’s life and total resources. At the core of financial life planning is an emphasis on asking meaningful questions.

Life plans are based on the client integrating a number of life areas into their plans for a desired future, prioritizing and balancing them with one another. Financial plans also include the integration of a number of financial areas into the plan to efficiently manage your life plan.

Areas integrated into a balanced life plan may include:

  1. Personal Growth
  2. Significant Other/Romance
  3. Friends and Family
  4. Health
  5. Career
  6. Money
  7. Physical Environment
  8. Fun and Recreation

Areas integrated into an efficient financial plan may include:

  1. Investment strategies
  2. Tax planning
  3. Estate planning
  4. Insurance planning
  5. Retirement planning
  6. Education planning
  7. Charitable planning

Why we need Financial Life Planning?

One of the most important roles of a financial advisor is helping clients prepare for retirement. Advisors are trained to evaluate a client’s economic situation and develop a strategic plan to best position them to accomplish their goals. However, finances are only one piece of the puzzle. Oftentimes, an investor may financially have the ability to retire, yet making the emotional decision to leave their career is a challenge. While financial planning and life coaching have traditionally been independent of each other, integrating the two can be extremely beneficial. By working through your plan more comprehensively, you will feel more comfortable and confident in making the transition.

Integrating a life coach into a comprehensive financial plan can transform your retirement planning experience. Once you are financially and emotionally prepared, making the decision to retire is empowering.