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30/10/2020

What’s your why?

Developing a financial game plan is rarely done ‘just for fun’. There’s usually one or several reasons behind the decision.

For some it may be having enough to retire stress-free. For others it could be a desire to help the kids, live debt free, pay off the mortgage sooner or travel the world.

The important thing here is the ‘why’.  It’s important to remind ourselves of our why. Not just because it can keep us motivated, but sometimes the why changes and our wealth creation strategy may need to change with it.

There are several benefits to knowing your why.

  • It gives life purpose. People with a sense or purpose are able to shape their lives rather than simply flowing along not really knowing where they’ll end up.
  • Goals become more meaningful when there’s passion behind them.
  • Having a clear sense of why will give you more focus on achieving your goals meaning there’s a much better chance of your goals being achieved.
  • It could extend your life. Numerous studies around the world have shown that having purpose often leads to longer lifespans in the elderly. Looking forward to each day offers the chance of fulfilment and reduces the influence of everyday stresses.
  • Having a clear sense of ‘why’ can help you be more resilient. You’ll be less likely to lose motivation or be negatively affected when life’s inevitable set backs come your way.

Companies like Pillar exist because most people are not finance, property, tax or investment experts. However one thing you aught to be an expert on is your why. It’s yours and yours alone. Nobody can take it from you but unless you keep an eye on it, you could lose it. This is where procrastination driven by apathy kicks in and before you know it…

Everyone in the Pillar community has, for one reason or another, made a decision to become active in their financial future. To take notice and make efforts to determine the outcome, rather than leaving it to chance. But like most things in life worth doing, it’s rarely a ‘set and forget’ type of thing. Wealth creation requires on-going monitoring, tweaking and adjusting. The key is to remain focussed on your why. What was it that motivated you to take action in the first place? Is your why the same? Has it changed? If so, does your current wealth creation strategy still fit the bill?

If your why has shifted or you’re uncertain if your current wealth creation strategy is still on-point, contact us for a Strategy Review. It’s complementary for Pillar clients and forms an important part of the wealth creation process.