GroWiser Financial Coaching

🎃 Happy Halloween - it's time to ressurrect your dead and buried pensions! It's estimated that there are around 3.3 million lost or forgotten pension pots in the UK. Could one of them belong to you? See this week's blog for 5 steps to track down old pensions 👇 https://lnkd.in/eV44tfS3 And you can get more info here about National Pension Tracing Day 👇 https://lnkd.in/ddM_Mh3Q #TuesdayTip #nationalpensiontracingday #financialcoaching #pensions

𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐏𝐞𝐧𝐬𝐢𝐨𝐧 𝐓𝐫𝐚𝐜𝐢𝐧𝐠 𝐃𝐚𝐲 happened yesterday in the UK, so this week's blog is about ressurrecting your dead and buried pensions, with a seasonal Halloween theme. It's estimated that more then £31 billion is languishing around in lost and forgotten pensions. Some of that could be yours if you have old workplace or private pensions that you've lost track of. Most commonly, this happens when you move house and your pension providers no longer have up-to-date contact details for you. Check out my article for a step-by-step process: ☑️ Dig out old paperwork from past employers ☑️ Conjure up your basic information ☑️ Reach out to previous employers ☑️ Use a pension tracing service ☑️ Shed some light on your existing pots Link in the comments below 👇 #NationalPensionTracingDay #financialplanning #financialcoaching

#ThursdayThought taken from Bill Bachrach's book "Values-Based Financial Planning": 𝑾𝒉𝒂𝒕'𝒔 𝒊𝒎𝒑𝒐𝒓𝒕𝒂𝒏𝒕 𝒂𝒃𝒐𝒖𝒕 𝒎𝒐𝒏𝒆𝒚 𝒕𝒐 𝒚𝒐𝒖? That's just the first question. It could be flexibility, control, opportunity, security, freedom or many others. Once you have an answer to that, ask again: 𝑾𝒉𝒂𝒕'𝒔 𝒊𝒎𝒑𝒐𝒓𝒕𝒂𝒏𝒕 𝒂𝒃𝒐𝒖𝒕 𝒙𝒙𝒙𝒙 𝒕𝒐 𝒚𝒐𝒖? And repeat the process until you have a sense of your core values. Big financial decisions can become easier, when made in line with you values. #financialcoaching #financialplanning #corevalues

To calculate your net worth is a great way to build engagement with your money. It's good to know your numbers, but remember, net worth is not the same as self-worth. Read more about how to calculate your net worth - and how it differs to self-worth - in this week's blog 👇 https://lnkd.in/e_RbeDEj Once you know your numbers, ask yourself how you feel about your net worth and whether you'd like to change it. Bear in mind that to 'improve' your net worth might not necessarily mean increasing it! #TuesdayTip #NetWorth #financialcoaching #financialliteracy #KnowYourNumbers

#𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲𝐓𝐡𝐨𝐮𝐠𝐡𝐭 🤔 The energy, the joy and the opportunities created by financial independence are often replaced simply by 'peace of mind' for those in later life. What could you do to accelerate your own journey to 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗶𝗻𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝗰𝗲 before the reason for achieving it passes away? Read 6 action points to help you on the way in this week's blog 👇 https://lnkd.in/esZ8MgJW #financialindependence #financialcoaching #moneymindset #financialfreedom

#𝐓𝐮𝐞𝐬𝐝𝐚𝐲𝐓𝐢𝐩 💡 Not everyone wants to retire in the traditional sense these days. I don't. I could imagine myself working quite happily until I drop - as long as it's on my own terms. But then, not everyone feels the desire to work into their 60s or 70s. Rather than thinking about "retirement", strive for financial independence instead. Having the choice of whether or not to work for money can be empowering and exciting. The question is - what does financial independence mean to you? Read more about it in this week's blog 👇 https://lnkd.in/esZ8MgJW #financialcoaching #financialindependence #financialfreedom #retirementplanning

𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐢𝐧𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐜𝐞 𝐢𝐬 𝐭𝐡𝐞 𝐩𝐨𝐢𝐧𝐭 𝐚𝐭 𝐰𝐡𝐢𝐜𝐡 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐞𝐧𝐨𝐮𝐠𝐡 𝐩𝐚𝐬𝐬𝐢𝐯𝐞 𝐢𝐧𝐜𝐨𝐦𝐞 𝐚𝐧𝐝 / 𝐨𝐫 𝐚𝐬𝐬𝐞𝐭𝐬 𝐟𝐨𝐫 𝐰𝐨𝐫𝐤 𝐭𝐨 𝐛𝐞𝐜𝐨𝐦𝐞 𝐨𝐩𝐭𝐢𝐨𝐧𝐚𝐥. That's not necessarily the same as financal freedom, which I think is more personal and harder to define. Either way, my philosophy is not to obsess too much about the destination, but rather, to enjoy the journey. This week's blog article sets out 6 steps that, if actioned, can help you work out how much you need to achieve financial independence. Then once you know the gap between where you are and where you want to be, you can begin to close that gap. It's all about finding the right balance between enjoying life now, and investing to enjoy life later. Read on for more detail behind these steps: 1. Envisage your minimum, desired lifestyle 2. Work out the cost of your desired lifestyle 3. Take account of expected, guaranteed income 4. Calculate your financial independence number 5. Calculate your investible net worth 6. Reduce the shortfal Link in the comments below 👇 #FinancialIndependence #financialcoaching #financialfreedom #buildwealth

#𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲𝐓𝐡𝐨𝐮𝐠𝐡𝐭 🤔 How easy do you find it to spend everything you earn? It's a trap I fell into for many years. Despite the best of budgeting intentions, something unexpected always seems to come along and scuppers your plan. 𝑃𝑎𝑟𝑘𝑖𝑛𝑠𝑜𝑛'𝑠 𝐿𝑎𝑤 helps to explain this, alhough it doesn't provide the answers! So I've included some ideas in this week's blog but in summary, at least for me, it comes down to: ✔️ Consciously break Parkinson's Law daily ✔️ Pay Yourself First ✔️ Savour Your Spending ✔️ Design Your Future More here 👇 https://lnkd.in/eHKA-Njs #financialcoaching #parkinsonslaw #financialindependence #designyourfuture

#𝐓𝐮𝐞𝐬𝐝𝐚𝐲𝐓𝐢𝐩 💁🏼♂️ Easier said than done, but if you can avoid getting sucked into 'Parkinson's Law', you'll make progress towards financial independence. “𝐄𝐱𝐩𝐞𝐧𝐝𝐢𝐭𝐮𝐫𝐞, 𝐨𝐫 𝐦𝐨𝐧𝐞𝐲 𝐩𝐚𝐢𝐝 𝐨𝐮𝐭, 𝐫𝐢𝐬𝐞𝐬 𝐭𝐨 𝐦𝐞𝐞𝐭 𝐢𝐧𝐜𝐨𝐦𝐞” I see it all the time, as a financial coach, and I experienced it myself, all the way through my 20s, 30s and into my 40s. "Lifestyle creep". It's what stands between you and the ability to choose how you spend your time later. It's all about balance, of course, but it's worth taking time to review how intentional your are with spending, saving and investing. Read more in this week's blog 👇 https://lnkd.in/eHKA-Njs #ParkinsonsLaw #financialcoaching #financialplanning #financialindependence

𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐛𝐚𝐜𝐤 𝐭𝐨 𝐦𝐲 𝟐𝟎𝐬 𝐚𝐧𝐝 𝟑𝟎𝐬 (𝐚𝐧𝐝 𝐞𝐯𝐞𝐧 𝟒𝟎𝐬), 𝐈 𝐰𝐚𝐬 𝐚 𝐭𝐨𝐭𝐚𝐥 𝐦𝐮𝐠 𝐟𝐨𝐫 𝐏𝐚𝐫𝐤𝐢𝐧𝐬𝐨𝐧'𝐬 𝐋𝐚𝐰 😳 This quote from Cyril Northcote Parkinson was published in the Economist in 1945: ⌛ “𝐰𝐨𝐫𝐤 𝐞𝐱𝐩𝐚𝐧𝐝𝐬 𝐭𝐨 𝐟𝐢𝐥𝐥 𝐭𝐡𝐞 𝐭𝐢𝐦𝐞 𝐚𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐟𝐨𝐫 𝐢𝐭𝐬 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐢𝐨𝐧”. That helps to explain why setting deadlines and targets is often important to ensure jobs are completed on time. Another version of this 'law' is: 💰 “𝐄𝐱𝐩𝐞𝐧𝐝𝐢𝐭𝐮𝐫𝐞, 𝐨𝐫 𝐦𝐨𝐧𝐞𝐲 𝐩𝐚𝐢𝐝 𝐨𝐮𝐭, 𝐫𝐢𝐬𝐞𝐬 𝐭𝐨 𝐦𝐞𝐞𝐭 𝐢𝐧𝐜𝐨𝐦𝐞” This helps to explain 'lifestyle creep'. As we gain promotions and pay rises, we have a tendency to spend more. It's understandable: work harder and smarter, then reward ourselves with better holidays, car, house, gadgets etc. 🚗🏡📱 But there comes a time when you realise that a nice lifestyle doesn't necessarily bring you closer to financial independence. Do you sometimes feel that you earn well, but don't have much to show for it? That could be the effect of 'Parkinson's Law'. Take a look at this week's blog about why it's important to overcome this 'law' and how you might go about it. Link in the comments below👇 #financialcoaching #parkinsonslaw #financialindependence