{"id":33295,"date":"2023-07-09T08:03:04","date_gmt":"2023-07-09T12:03:04","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/making-financial-plans-less-boring-with-goals-that-are-not-not-serious\/"},"modified":"2023-07-09T08:03:06","modified_gmt":"2023-07-09T12:03:06","slug":"making-financial-plans-less-boring-with-goals-that-are-not-not-serious","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=33295","title":{"rendered":"Making Financial Plans Less Boring With Goals That Are Not NOT Serious"},"content":{"rendered":"
\n

One of the challenges facing financial planning is that, however helpful, it has an unavoidably boring vibe. Sure, big financial companies have attempted to wrap it in a veneer of golf courses, sailboats, and marine mammals, but just beneath the surface are spreadsheets, allocations, illustrations, and boilerplate plans that lack a certain\u2026je ne sais quoi.<\/p>\n

It\u2019s a challenge that even we, as financial planners, face. In a recent discussion with my colleague and friend about his own planning, one of the better advisors I know chuckled through an apparent footnote financial goal\u2014a very cool idea of owning a beach town food truck featuring his favorite cuisine. When I asked him to tell me more about it, he replied, \u201cWell, I\u2019m not not<\/em> serious about it.\u201d<\/p>\n

As we drilled down a little further, I came to believe that this was precisely the type of goal that, however seemingly small and unserious, could infuse his entire financial plan with a thread of vibrant color. While all his goals\u2014most of which were in service of his family, community, and team at work\u2014were deliberate and purposeful, the food truck was the one that put a smile on his face. The one that allowed the fullness of his personality to shine through. The one that made his financial plan truly unique and distinct from other successful plans.<\/p>\n

So, what is that \u201cnot not<\/em> serious\u201d goal that would make your financial planning more\u2026you? What is the goal\u2014big or small\u2014that puts a smile on your face, that you almost have to chuckle when you say it out loud?<\/p>\n

<\/fbs-ad><\/p>\n

For one of my clients, it was renting a Slingshot trike for a week to scratch that itch. For another, it was taking the sabbatical that would allow her to finally write that book. For another, it was retiring from a successful yet stressful career to fulfill a dream of teaching at the college level. For one, it was downsizing the primary residence and buying a beach home, while for another, it was selling the beach home to spend more time with grandkids.<\/p>\n

Hedge fund manager and author Bill Perkins is regularly asked by friends of means, \u201cIs this a good investment?\u201d His response almost certainly surprises: \u201cForget the money\u2026and let\u2019s just talk about what you\u2019re going to get out of it.\u201d<\/p>\n

Perkins suggests that \u201clife is the sum of our experiences\u201d and insists that the only purpose of money is to fund those experiences. Yes, we may use money to live<\/em> today, we may grow<\/em> our money to fund our tomorrows, we may choose to give<\/em> our money to others, and we may dedicate a portion of our capital to protect<\/em> all those other aims\u2014but ultimately, it is all in service of funding experiences.<\/p>\n

Perkins implores us to consider not just our Return on Equity but our Return on Experience<\/em>\u2014because when the money\u2019s gone, it\u2019s gone, but the memories derived from experiences pay compounding dividends into perpetuity. He says there\u2019s nothing special about earning an extra 3%, especially if you\u2019re already on track financially, but \u201cInvesting in experiences, on the other hand, really could change your life.\u201d And the lives of those you love, I\u2019ll add.<\/p>\n

I invite you, therefore, to consider how your financial planning might shift if you looked at it through the human lens of living, growing, giving, and protecting for the sake of maximizing your life experiences. Or start even simpler:<\/p>\n

What is one goal that you could consider and\/or discuss with your financial advisor that might fall into the \u201cnot not <\/em>serious\u201d category to make your financial plan more interesting?<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

One of the challenges facing financial planning is that, however helpful, it has an unavoidably boring vibe. Sure, big financial companies have attempted to wrap it in a veneer of golf courses, sailboats, and marine mammals, but just beneath the surface are spreadsheets, allocations, illustrations, and boilerplate plans that lack a certain\u2026je ne sais quoi. […]<\/p>\n","protected":false},"author":1,"featured_media":33296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-33295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"yoast_head":"\nMaking Financial Plans Less Boring With Goals That Are Not NOT Serious | iFintechWorld<\/title>\n<meta name=\"description\" content=\"One of the challenges facing financial planning is that, however helpful, it has an unavoidably boring vibe. 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