Page 60 • The HERALD • 9th May 2024 v INDEPENDENT, LOCAL AND PROUD v ASK A PROFESSIONAL PRODUCT RELATED FINANCIAL ADVICE VS LIFESTYLE FINANCIAL PLANNING… by Michael Osman, Oyster Financial Planning Entering the nancial and investment world can feel like deciphering an impossible puzzle, particularly for beginners. e vast array of options and approaches can o en lead to worry and confusion. However, the rst crucial step on this journey is to identify your nancial aspirations. In an ideal world before you ‘bought’ or ‘invested’ in any ‘ nancial product’ you would have created a plan, a vision of your life, that then informs decisions along the way. Are you aiming for long-term wealth accumulation or more immediate returns? Pinpointing your speci c goal will help when selecting suitable investments and making wiser nancial decisions. If you have not seen Cash Flow Modelling, you should… today! HARNESSING THE POWER OF CASH FLOW MODELLING (LIFESTYLE FINANCIAL PLANNING) Cash ow modelling emerges is a powerful tool that makes navigating your nancial ship towards your investment goals that much more certain and targeted. By creating a model that outlines your earnings and expenditures, you gain a comprehensive view of your entire nancial situation, both now, short and medium term and way into the future. WHAT ARE THE BENEFITS OF LIFESTYLE FINANCIAL PLANNING? Rather than just buying or investing in a nancial ‘product’ because you feel you need it. A Lifestyle Financial Plan created through team-work How can it do this? It can do this because essential ingredients for every Lifestyle Financial Plan are every penny you earn and receive from all sources today, tomorrow and into retirement. Every penny you spend, yes, you’ve guessed it, today, tomorrow and into retirement. We also encourage you to imagine your nancial future assuming your desired future lifestyle, not existing… BUT LIVING! Every asset, every liability, every saving (savings, investment and pensions). We use sensible growth rates, so we are not showing you a plan that works on some ridiculously unachievable growth projection. We take in ation into account too. All tax is also deducted. What you are le with if created and explained correctly is a simple picture of yours and your family’s nancial future (using these sensible assumptions) with a storyline to support it that you will understand and be able to easily follow? Reacting to life’s little speed bumps along the way! Having this plan in place then shows you what ‘products/investments’ you need and how they need to be structured with your bigger ‘lifestyle’ picture as your laser focus. To discuss how Lifestyle Financial Planning (Cash Flow Modelling) can transform the way you view your money, get in touch today! Oyster Financial Planning is based in the centre of Hythe Village call: 023 8084 8410. between you and your nancial planner makes it really easy to decide what ‘product’ should be put in place, what ‘investment’ should be used, how much should be invested and for how long and what mix of investment assets should be used to make your plan work. Michael Osman, Oyster Financial Planning
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