Do you have a financial goal?

I don’t mean a practical goal like a comfortable retirement or paying down your mortgage.

A fun goal. A goal that, if you accomplished it, would make your heart happy for the pure joy of it.

For me it was owning a motorcycle. Specifically, a Harley Davidson.

Every time I heard the muffled roar of a motorcycle on the road, I would sigh in envy.

I loved riding.

The freedom, the speed, the rev of the engine. All of it.

And for me, Harley Davidsons are the king of bikes.

But Harley Davidson’s also cost a king’s ransom. Saving for one seemed impractical (and I knew I would never go into debt to purchase one). When I first started my journey into financial planning, it was all about retirement, and protecting my growing wealth, and accumulating equity in investments and income properties. How could I put money aside for a motorcycle when I should be saving for all those other important financial goals?

But as I became more experienced in financial planning, I realized something.

Financial planning is not just about being responsible with money and planning ahead for your future self. It is not just about RRSPs and investing and insurance coverage.

Financial planning is actually about allowing you to live the life you want.

And for me, the life I want includes a Harley Davidson. For me, a motorcycle is an important financial goal.

That’s the beauty of having a comprehensive financial plan. You get to define your goals. If that includes a sleek sportscar, or a luxury African safari trip, or tuition for cooking classes in France then your plan can – and should! – reflect that. Your financial advisor should encourage you to think about these kinds of goals and incorporate them into your plan.

Financial planning is about freedom.

Living your life now is just as important as planning for your life later.

Part of my job is to help my clients realize this, too. Whenever I ask potential clients what their goals are, inevitably I hear about their retirement plans, or about buying an income property, or helping with their kids’ education. And those are commendable goals!

But I always ask – what about something more personal?

What makes you excited? What brings a smile to your face every time you think about it?

For one client, it was getting surgery to boost her confidence after having three kids. For another client, it was snagging a super limited-edition pair of kicks to add to her growing

sneaker collection. For someone else it was planning a 6-month work sabbatical to take an around-the-world cruise.

These goals might seem unattainable. And without a financial plan they probably are.

But all of those clients achieved their goals. They weren’t ultra wealthy. They weren’t A-list (or even D-list!) celebrities with deep pockets and sponsorship deals. They were regular people who earned good incomes and worked with me to develop a truly comprehensive financial plan.

Their plans included retirement planning, protecting their wealth and livelihoods, and saving for traditional financial goals like post-secondary education for their kids and purchasing income properties.

But their plans also included those highly personal goals that would allow them to live their best, most fulfilling life now.

That is the true power of financial planning.

Think about what makes you happy. When I ask you what your goals are in our first meeting, you’ll know exactly what I mean.

I’m not envious when I hear the roar of a motorcycle on the road anymore, because chances are – it’s coming from my Harley.

Book a call to discuss how you can stop putting aside your dreams and start living them.