Hi over the last couple of years actually 2025 years when thinking of lifestyle financial planning I actually came up with it with a great analogy an example that I use effectively with clients that I think explains lifestyle financial planning in actually what a great way and that’s the analogy of the architect now when you when you think of.

It if anyone wants to build a dream house and they would approach an architect and the architect would say to them you know what you very lucky because the last two three weeks.

I’ve designed for very nice houses why don’t you want to choose one of these examples that I’ve done you would feel done in when you’ve actually wanted the architect to distract your plans for your dream house from you so when we when we think of the architect the architect is part of a team and the architect has his main function is to extract this the plan for your dream house from you then he has to do the sketches and then I just discuss it with you and then.

If if the client is is happy with that they would then say to the architect well you go ahead and you.

You are part of the project team making sure that this house is both to the standards that that are like so what I normally say is.
Is to do the sketches the drawings making sure that that plan.

Is landed for your dream house then he employs many people on his team you will have a builder the Builder.

Will have a subcontractor he will have.

A engineering team he will have an interior team on his team that he will actually manage and organize to make sure that at the end of the day the the house that’s being built is actually to the to the exact standard that would he say down in his plan now what would you think if the poll that comes to you and he says to you you know don’t worry about this I can draw a house for you I can do the brickwork I can do the carpentry I.

Can do all of these things I think you will be skeptical and you would say but this is this is actually not what I had in mind.

Because even though you might be able to lay some of the foundations and stuff you can’t do everything and if it’s a sophisticated house you can’t lay a slab you can’t do those things so there’s a whole team involved when you actually build this dream house now the same is applicable to us.

As lifestyle financial planners because our main core function is to find out what this lifestyle plan is that our client has in his head.

We have to extract that from him and do the sketches and.

Do the drawings and have three or four meetings with him to make sure that they understand this plan that they are happy maybe they will get back and say no I don’t want to retire.

At 65 or you know I want some other things added to this plan and then you will go back to the drawing board and you will do that but at the end of the day you will also employ as a lifestyle financial planner being the architect of your clients design you will employ many people on your team that could be insurance agent that could.

Be the trust specialist that could be an asset manager all of these people you will employ and have on your team to make sure at the end of the day you will get to that place where your clients dream financial house has been built now what would you think if over time you find out that many people want to.

Do this on their own and we see this on a daily basis where people think that they can build their own financial houses but we see often times that people start by by taking out products and that products.

Are there are those building blocks that we use when we actually build a house so a.

Person might boughten might start buying bricks and they accumulate bricks over time they might start at the age of 25 and they start buying bricks and they and they pile it in their back yard they might buy tiles they might.

Start buying some mint they might start buying roof trusses all of this is part in their backyard because one day they’re going to build a house and this is exactly what happens when people actually buy products over a long period of time that they don’t know how this is going to fit into their.

Financial plan they just know yes one day when they retire they might sit down and say well now I’ve got all of these building blocks let me see what type of house I can build and from a lifestyle financial planning perspective we know that this can ever work this is not the right way to go.

About it and even think of this if you have if you have bought a lot of bricks and you’ve stacked it in your in your back yard and somebody passes your house and it knocks at the door nieces.
Listen I see you’ve bought bricks but what are you gonna do with that.

You said well that’s part of my building plan to one day build this house and.
You say to him you know those bricks are actually rubbish check them out.

And buy these new bricks and you might laugh and say this is absolutely ridiculous but we know that this is actually the way that many people accumulate the bricks and they stuff their building material for for the house that they’re one day one one to build and just as you will not throw out the bricks many people just change and turn those policies.

Which is we can call bricks into in terms financial bricks now I find that when we share this analogy with lines they really understand that are not just the operator but that I’m the guy like the architect that will make sure that over.

Time all of the elements of the financial plan all the investment all fit together so that we can build this clients dream financial house and it’s.

Work for us clients have come back and said that it’s really helped them to understand the process and to really understand all the the intricacies of it’s not just accumulating financial products.

And then later deciding what how I’m going to struck this house of mine.


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