What is Real Lifestyle Financial Planning?

Success doesn’t happen by chance; it’s a result of deliberate, thoughtful planning and putting this plan into action. The same principle applies to financial success, which often involves having a vision, goals, and an action plan.

Real Lifestyle Financial Planning (RLFP) goes beyond mere numbers and spreadsheets, it is a continual process of aligning your evolving financial needs, goals, and values—a journey, not a destination. It is the plan, the process and the strategy to get your best return on life.

Your Plan should remove all the winding alleys of your financial life as it stands and replaces them with a clear roadmap for the future.

Key components of Real Lifestyle Financial Planning:

1. Life-Centric Goals.

The first step in building a real financial plan is an in-depth conversation about your current situation i.e. your needs and goals. At its core, RLFP is a life-centric approach that places the family at the heart of the financial strategy. It starts by asking personal insightful questions such as What are your long-term dreams and aspirations? This approach results in a tailored financial strategy that resonates with your families’ unique aspirations.

2. Adapting & Long-Term Plan.

Life is unpredictable therefore, once a plan is built it is not cast in stone.  RLFP builds flexibility into the plan. Whether facing unexpected expenses or seizing new opportunities, it equips families to adapt without compromising their life goals.

Like all things worthwhile this is not a quick fix; it’s a long-term commitment to financial well-being. By focusing on both short-term goals and long-term financial security, families can build a foundation that stands the test of time.

3. Your investments are important, but they should NEVER be the primary focus.

Responding to market ups and downs can stir emotions, leading to decisions that are more about how we feel in the moment rather than well-thought-out reasoning.

RLFP involves examining the psychological factors that influence decision-making. This approach involves understanding emotions and biases, to ensure that recommendations are aligned with values and aspirations.  As this concept is subjective and changes with time, values may shift, prompting tweaks in financial advice. Again, another example of RLFP being a lifelong journey.

For further insights on managing your behavioural bias, download our brochure here. 

4. Goal Based Investing.

RLFP is about setting clear goals for your available resources/money. It means deciding what you want in life, like buying your dream home, paying for education, or having a comfortable retirement. Each of these goals is like a milestone on the path to a happy and satisfying life.

The idea is to make sure your money decisions match up with what you really want to achieve in your life.  When we understand wealth in this broader sense, we can create a life that’s full of meaning and not just about constantly wanting more.

5. Comprehensive Coverage.

Real Lifestyle Financial Planning spans over retirement planning, investing, protection, estate planning and debt management.

Real Lifestyle Financial Planning goes beyond the usual budgets and balance sheets. It embraces the dynamism of life, acknowledging that financial well-being is not a static destination but an ongoing journey. Instead of fixating on rigid numbers, this approach seeks to understand the essence of one’s life, aspirations, and values.

In conclusion, Real Lifestyle Financial Planning empowers you to anticipate the unexpected, achieve your goals, improve your financial situation, and, most importantly, provides you with peace of mind to go and achieve your life goals without the unnecessary financial pressures.

This is what we do every single day at Metis Ireland. Please contact us to set up an initial call. It could be the first step for you to get your best return on life.

Mary Carney

Financial Planning Executive