Welcome to the New Year! January is a time for fresh starts, setting goals and dreaming about plans for the future. Every year, I look forward to hosting a Vision Board party – a cherished tradition where friends and family gather for an afternoon of mapping out our hopes and aspirations on poster boards teeming with possibilities.
Creating vision boards with family & friends is a fun way to set goals and share plans.
Financial planners understand the that amid the aspirations of world travel and professional success lies a significant cornerstone – planning for retirement. It might seem far off for some, but the realities suggest something else. With the average life expectancy in the US hovering around 75 for men and 80 for women, according to the CDC (1), taking ownership of your financial future is imperative.
During our vision board sessions, seeing the diversity in people’s dreams is illuminating. Some friends envision their businesses reaching new heights, because they’re planning on working for quite some time, even though they may be closing in on traditional retirement age. Others imagine a post-professional life in exotic locales, both home and abroad. These varied dreams both require a thoughtful approach to financial planning.
When it comes to statistics about life expectancies, there are, of course, wide fluctuations impacted by varying contributing factors. They are still useful tools for reminding us about the timelines we may have to enjoy the fruits of our life-long labors. These numbers also signify the importance of health (2) in the equation of life planning. Some of the vision boards include goals of daily meditation, committing to fitness routines and adopting healthier eating habits; all crucial aspects of enjoying our later years.
Prosperity and abundance themes are also vision board staples. Moving beyond these broader themes is really important. When it comes to your retirement, think about what you truly want it to include. Embracing financial planning as part of your annual goal-setting can transform your January dreams into reality. Every small step you take today is a gift to your Future Self. Here’s to vision, preparation and beautiful years ahead.
Authored by Maureen Demers, CFP, EA
Sources:
(1) https://www.cdc.gov/nchs/fastats/life-expectancy.htm
(2) https://www.hopkinsmedicine.org/health/wellness-and-prevention/its-never-too-late-five-healthy-steps-at-any-age