Forward Financial Planning – What does it Mean? In the first instance it means finding the time to take stock of all of your current assets and income streams and then projecting these forward, to enable you to understand your future income shortfall.
Secondly whilst you still have time and the money to be able to do something about it, apply a variety of strategies to ensure your projected future income is at a level you are comfortable with.
You can do this yourself using a simple spreadsheet, or you can use a financial and investment planner.
Most peoples financial futures look like this:
Typically they are enjoying a comfortable lifestyle now and are often unwilling to ask for financial planning advice, as possibly they are aware that they should be doing more to accommodate their future lifestyle, but hey ho …. they would rather not think too hard about their future, for some people ignorance truly is bliss.
They remind me a little of Alice ….
” Would you tell me. please, which way I ought to go from here?”
“That depends a great on where you want to get to,” said the Cat.
” I don’t much care where,” said Alice.
” Then it doesn’t matter which way you go, ” said the Cat.
“— so long as I get somewhere,” Alice added as an explanation.
“Oh, you’re sure to do that ,” said the Cat, “if you only walk long enough.”
Miaoww!
