What’s Your Why?

What motivates you to earn money? What motivates you to save money? What does money mean to you?

Diverse People Thinking and Question Marks

I recently read an interesting book by Simon Sinek, called “What’s Your Why?”. Sinek’s basic premise is that people are motivated not by what organisations tell them is important – like money – but what really matters to them: What gets them up in the morning? What are their values and passions?

Sinek cites Apple whose “why” was “to challenge the status quo” and the end result just happened to be beautiful computers and devices that everyone wanted.

This whole thing resonated with me. I spend my days meeting with people in their 40’s 50’s and 60’s who are planning the next stage of their lives. I get enormous satisfaction out of helping them work out their numbers: The date, the lifestyle-income they need and the gap or lack of it. It is this that I genuinely enjoy about financial planning I recently helped a couple find out that they could retire 3 years earlier than they thought possible. It’s the passion for helping people that drives what we do at Clifton Nash.

So, I have told you what motivates me. But do you know what motivate you? What’s your “why”?

What’s Your Why?

Many people manage their money in a reactive way as they go through life. They decide to pay into a pension – or not. They save – or they don’t. They spend, they borrow, they live. Money allows people to live their lives but it shouldn’t be the driver. Decisions about what is important to you should come first and those priorities should dictate how you plan and manage your money.

 Why not score these in order of priority?

Independence: I want to be free of financial dependencies to other people or organisations

Flexibility: I value being able to adapt to changing circumstances and try new things

Options: I like to have variety of choices that cover having a nice lifestyle whilst looking after the basis – paying the mortgage, looking after my family.

Security: Because of things that I have seen happen to others, financial security is really important to me

Freedom: I want to have freedom to lead the lifestyle that I think is possible. I might want to spend more time with my family, travel or start a business for example.

Clifton Nash help people in their 40s 50s and 60s know their numbers, work out their dates and plan what they want to do next. But it all starts with knowing what your values are. what inspires you? What makes you get up in the morning? Where are you going next?  What’s next for you?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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For South Wales based clients and new enquiries please contact John Davies via email jdavies@cliftonnash.co.uk or call 07970 070659

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