The significance of a needs analysis in reaching your end goal
Posted in Broker In Your Pocket on Apr 11, 2024
The significance of a needs analysis in reaching your end goal
With all things considered in life, there's a plan that needs to be taken. So, whether it's planning for a birthday, a vacation or a wedding there are a certain number of steps you need to follow to reach your end destination. Planning your finances goes much more into depth than just drawing up a monthly budget. It's planning your finances for your future and to make sure that you can reach your financial end destination. The main focus is to establish what your needs are. It can be to buy a new vehicle, to secure a contingency fund for yourself, it can be to start saving for your retirement - to make sure that you can retire comfortably - it doesn't matter. Each one of us has a goal in mind, but getting there is a whole different approach because not all our financial roads or journeys are actually the same. It's not a one-size-fits-all type of journey. Some of us will reach our destination quicker, where others need to re-route and re-map their journeys because of these obstacles. I think having a good and trustworthy advisor on your journey - that’s your co-pilot - will give you some sound financial stability and will guide you and advise you to take caution when it comes to these obstacles. Usually these obstacles are disability, or severe illness. These will have an impact on your financial planning because it will impact your finances; meaning you will only be able to achieve 60 or 80% of your financial goal. So, your advisor is there to draw up a plan for you.
~ Rochelle van der Berg - 1.618 Financial Planner ~
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