Build your Dream Life

Key Takeaways:

• What’s happening at the moment with the economy
• When was the last time this occurred
• What we should do next

There is a very famous quote that has always stuck with me. *“If you don’t know where you are going, any road will take you there” – Lewis Carroll *

This is a famous quote from the book Alice in Wonderland, first published in 1865 however still rings very true to this day.

Two years later, it seems that we have all had some work/life balance lessons. Due to undersupply in migration and lack of manpower, employees now have more influence to dictate their remote working status, working conditions and pay.

Many of us making the sea and tree change to have greater flexibility and balance in our lives.

However now more than ever, we are unfortunately experiencing the opposite. With greater inflationary, economic, and work demands. It seems people are now more pressured than ever.

For many of us, this may be the first time that we have felt real financial pressure, with the last recession being over 30 years ago. However, this doesn’t mean that it’s something that we should put up with. If anything it should be a lesson to us all, that we need to pull up our socks and start designing the life that we want.

Now for a lot of us, we have never really thought that far past our studies, careers, and home purchase. But building the life you want goes much further into that. You need to understand your why. That is, why you do what you do.

If you chase a good career, what is the reason? If the reason is to receive a good income to buy a house, then the next question is, why do you need a nice house? If the answer is to raise a family and provide good schooling, then why is that important to you and what else can you do to secure that future?

Will raising and providing for a family mean being debt-free with less financial vulnerability or does it mean having more assets for extra income, and gifting to the kids as they get older?

Every Australian would have their own why. However, the point is, once you understand your why, only then can you start building timeframes and eventually design a plan to build your dream life.

In summary, unfortunately, it will not be the last time that we see challenging economic challenges, however this doesn’t mean the next time challenges come around, you have to be can’t be better prepared. So speak to a planner today regarding what your financial potential is, and putting in a plan to build your financial plan.

If you would like to learn more, speak to one of our financial planners, and financial advisors who service the Yarraville, Seddon, Newport and Williamstown locations.