Wealth Management & Financial Planning

Wealth Management & Financial Planning

Why Having a Financial Vision Is Critical to Your Success

I hate running on treadmills. Not that I enjoy running that much anyway, but when I run, I would much rather feel like I am going somewhere. I want to see the finish line in front of me. We often don’t live our lives with the same philosophy. We are easily stuck in everyday tasks without having a vision of the end goal in mind. And that translates to our finances.

Why is a financial vision important? Money is an incredibly powerful and versatile tool. Yet we only have a finite amount of that tool. Think about all the things you can do with $1 million. My guess is you can conjure a multitude of possibilities to utilize $1 million, but how many could you do at once?

A financial vision is critical to a successful financial plan because it prioritizes the steps on your financial journey. Perhaps your vision is to retire to Florida. This vision gets us off the treadmill of simply accumulating wealth and focusing primarily on investment returns. Now we can focus on steps to achieve your financial vision, such as setting a target date for your move South and saving to purchase a house.

You may not think of yourself as a visionary person. However, your financial vision does not have to be complicated or elaborate. It can be as simple as, “I don’t want to be a greeter at Walmart when I’m old!” Ask yourself some of these questions to spur your creativity:

  • How does my financial situation fit into my life’s purpose?
  • If money were of no concern, how would I raise my overall level of satisfaction with life?
  • How can my finances be used to improve my physical or mental health?
  • What do I want my life to look like 10 years from now?


That last question brings up my last point: dream in high-definition pictures. Be specific about what you want to accomplish. Do you want to retire to Florida? What does your house in the sunshine state look like? What is your daily routine? How tan are you? Create an actual mental (or even physical) image of the vision you want to achieve.

It is easy to be stuck in the middle of day-to-day operations. And honestly, your financial plan can be successful without a vision, just like you can lose weight by running on a treadmill. But a vision brings more life and color to your financial plan, sharpening it to a razor’s edge. Envision your ideal retirement and run towards the finish line.

Financial Enhancement Group is an SEC Registered Investment Advisor. Securities offered through World Equity Group, Inc. Member FINRA/SIPC. Advisory services can be provided by Financial Enhancement Group (FEG) or World Equity Group. FEG and World Equity Group are separately owned and operated.

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