How often do you stop to think about what’s really important to you in life?
Values are the beliefs and principles that you believe are important in the way that you live and work. They give meaning to the things we do. They are individual to us, guide our behavior and allow us to feel fulfilment.
But we’re not always aware of what our values are. In fact, few of us take the time to stop and really consider what ours are. Not knowing what we truly value in life can lead us to decisions that are inconsistent with what we really want to achieve and who we are as people. It can cause us to escape into bad habits or look for quick wins rather than meaningful changes for ourselves or those we love.
Why values matter in financial planning
Traditionally, financial advice has focused primarily on helping clients achieve their financial objectives such as saving, building an effective portfolio, or structuring assets efficiently. However, we believe that understanding clients’ values and then applying them to those goals leads to better financial decisions.
Financial returns are important, but focusing on them alone can mask why we want those returns. For example, think of how we are (rightly) encouraged to save for retirement. We spend much of our lives working hard, potentially forgoing experiences now, so that we can do all the things we want when we retire.
But what if having a greater understanding of our values could help us define what success looks like, not only in retirement, but also right now? We can then start to live a life that is aligned to what’s really important to us. And when we begin to live a life that meets our success criteria, we feel more fulfilled and happier – even if it means spending more of the savings we’ve spent years creating.
How do I define what values matter?
Defining what you value is hard and we know that people are often too busy to stop and wonder what really matters. This is where we can help.
Using a framework based on eight dimensions of wellbeing, we can help you to uncover what you value in life. We work with you to determine a set of household values, then set financial goals and tasks to help you live a life more closely aligned with those values. We also keep you accountable, helping you to make decisions that take you closer to achieving your goals. And, we can measure how you’re going and help you see the successes and failures, so that you can continue to make the best choices now and in the future.
If this interests you, why not take the first step in getting to know more about what you value in life by completing our Your Life survey. The survey helps to identify what’s important to you, then determines how closely you are living a life aligned with those values. At the end of the survey, you will receive a score based on your responses. We can then work with you to improve your score, empowering you to live your best life by aligning your finances with your values.
Simon Briggs is a Director at Keep Wealth Partners
Keep Wealth Partners Pty Ltd (AFSL 494858)
