The first step of Hesperian Wealth’s financial planning process is for me to understand your financial situation. This includes your vision for the future, which we capture in what I call a Dream Statement. It will stand as the guiding light for all the subsequent planning work we’ll do together.
Your vision of the future may involve
- Getting out from under debt;
- Or buying a home;
- Or getting married;
- Or starting a family;
- Or helping to pay for your kids’ college education;
- Or living well today and through retirement;
- Or having the ability to care for family members that rely on you;
- Or obtaining the means to travel or pursue your hobbies without worrying about money;
- Or eventually leaving something to the next generation—or giving back along the way.
But whatever your version of a great life is, have you ever written all your hopes and desires down? Do you have a formal plan to make it all happen? One of the first things I do for clients is help them document—in their own words—what they want to achieve and when.
If I were your planner, in the first planning meeting, or “Kickoff”, we’d focus on describing and visualizing the future. What does your life look like five years from now, 10 years from now, 20 years from now, and in retirement? What’s the “why” behind it all? Even if your vision isn’t so clear right now, it will crystalize out of our planning sessions.
I’d listen carefully and capture your vision in notes so that after the call you can rewrite it if you wish. You can add as much detail as you want and even incorporate nonfinancial personal ambitions for yourself.
This becomes your Dream Statement—a mission statement of sorts for your household or family. The exercise will help us, later on, to select, quantify, and prioritize specific financial goals to pursue.
The typical Dream Statement begins like this:
How does yours finish?
Start working on your vision for the future today with a free consultation:
Eric R. Figueroa, CFP®
I am a Folsom, CA, fee-only wealth manager serving the Greater Sacramento area, California Gold Country, and the nation virtually. I offer financial planning and investment management, specializing in impact investing and personalized values-based investing.
All content presented in this article is for informational purposes only. Materials presented should not be interpreted as a solicitation or offer to buy or sell a security or the rendering of personalized investment advice, which can only be provided through one-on-one communication with a financial advisor. The content reflects the opinions of Hesperian Wealth LLC (HW), except where cited, which are subject to change at any time without notice. The information contained herein has been obtained from sources believed to be reliable, but the accuracy of the information cannot be guaranteed. All information or ideas provided should be discussed in detail with a financial, tax, or legal advisor prior to implementation.