Financial Planning Is Selfish

July 14, 2021
July 14, 2021 John Sloan

Quite a statement to start off.   

The definition of selfish is –  

​”Caring only about yourself rather than about other people”1 

“concerned excessively or exclusively with oneself : seeking or concentrating on one’s own advantage, pleasure, or well-being without regard for others”2 

So being selfish primarily means taking purposeful steps to get to where you want to be.  It means having the self-awareness to recognise what you want to happen in your life and taking action to get there.  Everyone has their own goals and aspirations.  Things they want to do and achieve. Not everyone takes the time to really plan to get there.  The good thing about taking proactive steps is that it is not only you who will ultimately win.  Being selfish with your financial planning will ultimately help empower you to make decisions about your life (not just finances) that can help not only you, but those around you.   

Imagine…

Imagine having the context and peace of mind to know that you can do and achieve the things you want personally within your lifetime.   

Imagine being able to say to your family “here is some money there to help with your mortgage”.   

Imagine the joy of being able to see them enjoy this before you die, when ultimately, they will inherit it.   

The thing is that this is a lot of joy that could be shared because you were selfish.  You were selfish enough to take the time to figure out what you wanted in life, develop a plan and work towards that.   

And it also doesn’t have to revolve around family – it is about what you want.  It could be giving a legacy to a charity whilst you are alive – be that through giving money or indeed giving your time.   

Imagine knowing that through your selfish attitude towards planning that you could leave paid employment or retire and devote time to a local charity or voluntary organisation.   

Imagine the freedom and the feeling you would have and the impact that your selfishness could have on helping others.   

Imagine spending more time with your family or looking after grandchildren (on your terms).   The selfishness that you showed about planning your life could have a much wider impact on so many other people. Imagine the feeling your financial planner has when she / he helps you to do all this.  It is a feeling that is hard to describe.  To be able to help someone do what they want, when they want to is incredibly empowering.  It also helps that I get paid to work in such a great role.  

Financial Planning is Selfish

I believe that Financial Planning is selfish and that it should be.  It should always be about making sure that our clients live the lives they want to.  It is a selfish pursuit but one that has the potential to bring happiness and enrich the lives of so many people – and it isn’t all about the money – imagine that!

This material is aimed at retail clients and is for information only and should not be considered as a personal recommendation. 

 

1 – https://www.oxfordlearnersdictionaries.com/definition/english/selfish 

2 – https://www.merriam-webster.com/dictionary/selfish  

 

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