Financial Planning: Mapping Out Your Financial Goals

When was the last time you sat down and not only set some goals, but mapped out the best way to ensure they are achieved? Goal modelling is more than just financial planning - it’s a roadmap to achieving what truly matters to you. It’s getting answers on what you could be achieving in life, and the best way to get there. 

At Lifetime, we go beyond just the numbers to understand your life stages, your aspirations and your personal values. 

The Power Of Financial Planning

We're firm believers in the power of clear goals as the cornerstone of financial success. Goal modelling helps translate life’s big questions, such as:

• Can I retire early?
• Will I be able to travel in my golden years?
• How do I support my family, and what can I leave to my estate?
• How should I be saving/investing to provide the income I desire?

And then we help turn these into achievable plans. 

Financial stress affects nearly half of New Zealanders daily or weekly, and this stress often hinders long-term planning. In fact, 59% of New Zealanders report that financial issues have impacted their well-being (FSC News RNZ). Goal modelling is designed to address these issues by breaking down complex financial decisions into manageable, priority-based steps, giving you clarity and peace of mind at every turn.

Steps Of Financial Planning:

1. Engage with your financial adviser.
2. Be guided through setting your lifestyle and financial goals.
3. Map out your financial future.
4. Provide clear outcomes and step by step action points to ensure these goals are achieved.
5. Regularly reviewing your plan and ensure you remain on track, or change to incorporate any new goals.

As your adviser, we guide you through setting your goals on all the variables below, and how flexible you are with making changes to each of them. We then map this out, incorporating any changes that might be required to achieve those that are most important to you, so you have a step-by-step action plan to start implementing straight away.

Real-Life Scenarios, Real-World Solutions

Goal modelling shines in its practicality. Take, for example, a couple in their 40s who want to know if they can retire by 65 while still supporting their children’s education and planning for travel. Through goal modelling, we create scenarios based on current savings, expected expenses, and investments. If adjustments are needed - whether in savings rates, investment choices, or spending habits - we’ll provide options.
When it comes to preparing for what their retirement journey might look like, most pre-retirees haven’t set much in stone, with only half (51%) feeling on track to retire at their preferred age (The New Zealand Seniors series: The Retirement Living Report 2022)

For many, goal modelling can provide the structured approach they need to build certainty and improve their financial positions. 

What are your future goals?

Book in a chat with a financial adviser at Lifetime, to discuss your goals and how financial planning can help you achieve them! 

Click here to book an obligation-free chat with one of our financial advisers.

Article by Chané Knell

Disclaimer: This article has been prepared for the purpose of providing general information, without taking into consideration any particular person's objectives, financial situation or needs. Any opinions contained in it are held by the author as at the report date and are subject to change without notice.