Even as children, people create this big picture in their minds — a reflection of how they envision their life to be. Whether your big picture is similar to what’s called the Australian Dream (home ownership as the key to a better life) or not depends a lot on your priorities and goals in life.
Either way, your big picture may involve having a family, living in your dream home, earning enough to buy and do the things you like and spending a lifetime of happiness with your loved ones.
Of course, this big picture can evolve as you go through life and gain more experience. Usually, however, the basics persist — the desire to have a home, a happy family and a good career remain unchanged.
What changes, though, may be the criteria you use or your definition of what your home should be, what being happy as a family means and whether a good career means being in a job you like that also pays well or one or the other. After all, some dreams come true, whilst others don’t.
Wealth and happiness
Today, where experiences take precedence over money (ideally), people are taught early on to value happiness over wealth.
Studies on happiness have shown that whilst having enough money or being financially comfortable can afford one certain luxuries and material pleasures, the satisfaction that comes with collecting things is short-lived.
This is why financial experts advise people to treat money as a means or a tool to have a meaningful existence. So, rather than making wealth accumulation (i.e., becoming rich) their goal, people should treat money as a means to an end.
How your finances impact your big picture
In terms of your big picture, you can have that dream house if you handle your finances with care.
When you’re financially stable, you can buy your dream house and perhaps even add your dream car and travel into the mix. This means that if you take care of your financial well-being, it becomes possible to not only satisfy your needs but also enjoy certain luxuries.
Will you be happy? It depends.
Having a family can add meaning to your life. Children can strengthen your sense of purpose, as you’ll be responsible for the welfare, safety and happiness of little people entirely dependent on you.
When you’re financially comfortable, fulfilling your obligations as a parent can be a little easier. Rather than stressing over how you can afford to keep them healthy and safe and fund their education, you can focus on bonding together as a family and making memories.
It also becomes possible to start your own company and make a difference in more people’s lives. You may also find it meaningful and rewarding to involve yourself in charitable causes or volunteering. You can choose to lead a life of adventure and extreme experiences as well. It’s all up to you.
Make your big picture come true
Achieving financial stability and independence, and preserving whatever wealth you build takes time, patience and discipline. How quickly (or slowly) you gain financial freedom and accumulate wealth depends on your circumstances. Your skills, abilities, experiences and the opportunities that come your way can affect your financial success.
Therefore, the earlier you start financial planning, the better for you.
Once you achieve financial stability, you can focus on fulfilling your bigger goals.
To get started on your journey to financial well-being, seek professional advice from a financial planner who can help you explore ways to make the most of every area of your finances. If you would like to know more, feel that you or anyone you know requires advice, or would simply like a review of your financial situation, please visit our contact page call our office today to arrange an appointment on (07) 5574 0667.
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Disclaimer
This communication (including taxation) is general advice only and does not consider your personal circumstances. You should consider whether the information is appropriate to your individual needs, and not act on any information without obtaining professional financial advice specific to your circumstances. This communication including any attachments is intended solely for the use of the individual to whom it is addressed. Any unauthorised use, dissemination, forwarding, printing, or copying of this communication including any attachments is prohibited. It is your responsibility to scan this communication including any file attachment for viruses and other defects. To the extent permitted by law, we will not be liable for any loss or damage arising in any way from this communication including file attachments. The information has been given in good faith and has been prepared based on information that is believed to be accurate and reliable at the time of publication.
