Author:
Paul Harwood
Chartered Financial Planner
Reviewed by: Megan Jenkins, Chartered Financial Planner
Whenever I meet a prospective client, they often come with a specific concern—whether it’s a technical query, a financial worry, or a recent life event that has prompted them to seek advice. As experienced financial advisers, we can address these immediate needs, offering reassurance and tailored solutions. However, the true value of financial planning lies in looking at the bigger picture.
Every client has their own vision of success—a grand house, a well-earned retirement, or a camper van for touring adventures. Yet too often, these aspirations don’t bring the fulfilment we anticipate.
Sure, we can help you potentially reduce your inheritance tax liability and strengthen your overall financial strategy—but at what cost?
Most of us know the phrase “keeping up with the Joneses.” As the 1990s cult film Fight Club so aptly put it: “We buy things we don’t need, with money we don’t have, to impress people we don’t like.”[1]
The big house, once a symbol of achievement, can become a financial burden. The camper van, intended for spontaneous adventures, sits idle before being sold. Retirement, long awaited, arrives—yet with no meaningful plan for how to spend the time.
True success isn’t just about reaching financial milestones it’s about crafting a life rich with experiences, freedom, and joy. Holistic financial planning goes beyond tax efficiency and wealth accumulation; it becomes a tool for shaping a life that delivers lasting fulfilment.[2]
How to avoid the 60% tax trap and more…
Did you know that people earning over £100,000 can pay an effective tax rate of 60%?
Common pitfalls in pursuing financial freedom
Chasing a high-flying career without understanding the full cost: High financial rewards often demand long hours, missed family moments, neglected friendships, abandoned hobbies, and increased stress.[3] While it can set a family up financially, many later regret what it cost them personally leading to burnout, poor health, and a later switch to a simpler way of living.
- The big house vs. financial freedom: A large home with an equally large mortgage may seem like a milestone achievement, but if it limits travel, saving, or personal growth, it can feel more like a trap than a triumph.
- Retirement without a plan: The idea of leaving work is appealing, but without passions, interests, or a clear purpose beyond a career, retirement can feel aimless rather than fulfilling.
- Investing in assets that don’t serve your lifestyle: Luxury cars, holiday homes, and recreational vehicles may seem exciting, but if they don’t align with how you actually live, they often become costly regrets.
Understanding your financial goals and values
As we get older, few of us reminisce about the size of our homes or the balance in our bank account. What truly stands out are the shared laughter, the adventures, the moments of triumph, and the simple joys that made life meaningful. Smart financial planning ensures these experiences take priority.
- Investing in life’s small joys: A financial adviser can help structure your wealth to support moments that bring happiness—whether it’s family trips, dinners with friends, or pursuing personal passions.
- Balancing career ambition with selfcare: Many chase professional success at the cost of their health, relationships, and wellbeing. Winning is about designing a financial plan that allows for both security and quality of life.
- Creating opportunities to enjoy wealth, not just accumulate it: While saving for the future is essential, so is living in the present. A financial adviser ensures that life experiences aren’t postponed until retirement—when health and energy may limit enjoyment.
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Our advisers can give you the peace of mind that you and your family are protected against the financial consequences of the unexpected. Get in touch to discuss how we can help you.
How financial planning can redefine success
A good financial adviser helps redefine success—not just in terms of wealth, but in aligning financial decisions with personal values, life aspirations, and meaningful experiences.
- Prioritising goals that truly matter: A financial adviser can help distinguish between fleeting desires and lifelong fulfilment.
- Structuring financial resources for freedom: Whether it’s funding early retirement, enabling travel, or supporting personal growth, financial planning ensures your money works for you.
- Avoiding regrets later in life: Holistic financial planning helps avoid the all-too-common mistakes of postponing joy, saving too aggressively without living, or taking on burdens that limit financial freedom later in life.
Understanding what financial success means to you
Winning isn’t about accumulating wealth or hitting financial milestones—it’s about ensuring money supports a life filled with joy, meaningful experiences, and freedom. A financial adviser acts as a guide, ensuring financial decisions serve personal dreams rather than becoming obstacles to living them.
So, when you think about financial planning, ask yourself: What does winning truly look like for me? If your answer includes joy, connection, freedom and meaningful experiences – as well as financial security – then it’s time to build a plan that prioritises what matters most.
Do you need cover to protect against illness or death?
Our advisers can give you the peace of mind that you and your family are protected against the financial consequences of the unexpected. Get in touch to discuss how we can help you.
Article sources
Editorial policy
All authors have considerable industry expertise and specific knowledge on any given topic. All pieces are reviewed by an additional qualified financial specialist to ensure objectivity and accuracy to the best of our ability. All reviewer’s qualifications are from leading industry bodies. Where possible we use primary sources to support our work. These can include white papers, government sources and data, original reports and interviews or articles from other industry experts. We also reference research from other reputable financial planning and investment management firms where appropriate.
Saltus Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority. Information is correct to the best of our understanding as at the date of publication. Nothing within this content is intended as, or can be relied upon, as financial advice. Capital is at risk. You may get back less than you invested. Tax rules may change and the value of tax reliefs depends on your individual circumstances.
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