Life planning is different from traditional financial planning because the focus is more about who you are and who you want to be than it is about money. Unlike people engaged in the traditional planning process, people engaged in the life planning process don't look ahead in an effort to figure out how to maintain their current lifestyles in retirement. Instead, they look at how to change their current lifestyle to achieve the lifestyle of their dreams.

Why is this topic of Life Planning so important?

According to figures from the Social Security Administration (SSA), a man currently age 65 can expect to live on average until age 83, and a 65-year-old women will live until 85. The SSA also notes that some people will live significantly longer than average. About one out of every four 65-year-olds will live past age 90, and one out of ten will live past age 95.

Some people are surprised by these numbers. All their lives they heard about life expectancies somewhere in the 70s, so at age 65 they figure the odds of living another decade aren't very good. Now, thanks to healthier lifestyles and breakthroughs in medical technology, life expectancy for Americans has increased significantly. While you can expect to live longer in retirement and have a better quality of life, there are two critical questions to answer.
•    What will I do with these added years?
•    How will I pay for them?

An old saying goes, “If you don’t know where you’re going, you might end up somewhere else and not even know it.” Goal setting is central to success. Your financial goals are the basis for planning, implementing, and measuring the progress of your spending, saving, and investing activities. Equally important is the focus on work & career goals, home & family goals, personal growth goals and health & fitness goals.

Life planning defined is thinking in a purposeful way about how you want to live. It begins with knowing who you are–your values, strengths and motivations–then applying this knowledge to making choices and setting goals. Life planning helps you take responsibility for and creates your best life after 50.

Take the simple Life Planning Quiz below that can give you ideas about what to focus on and where to begin your life plan. The Putney Financial Group can help you gather this information and form a life plan alongside your financial and wealth management  planning.

Life Planning Questionnaire

Select the answer that best fits each of the following questions and submit them to us for review..  
A Putney Advisor will contact you via email to discuss planning priorities. 
Click here for a PDF of this quiz.

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