A fellow Chartered Financial Planner recently shared a thought-provoking post titled, “WTF is Financial Planning?!” It described a solid approach to traditional financial planning—covering goals, managing resources, and ensuring a balance between living well and preparing for the future. While it was a great outline for what many consider “best practice,” it made me reflect on how we can go further.
At the Academy of Life Planning, we embrace holistic wealth planning, which shifts the focus from merely managing financial capital to ensuring a life of significance, purpose, and balance. This perspective goes beyond the financial spreadsheet to encompass the broader dimensions of human existence. Here’s how I’d approach it:
The Missing Ingredients: Three Core Shifts
- Ubuntu: Beyond the Individual
Ubuntu, often translated as “I am because we are,” is a philosophy of interconnectedness. Integrating this principle means looking not only at individual goals but also at how they align with community, family, and societal well-being. A holistic planner considers how the client’s wealth serves others and the greater good. This mindset fosters a sense of purpose, fulfilment, and lasting impact. - Eudaimonia: Beyond Hedonism
Traditional plans often focus on satisfying immediate wants and needs (hedonistic goals). A holistic approach includes eudaimonic goals—those that fulfil your deeper sense of purpose. It’s not just about living comfortably but also about living meaningfully. What does your soul desire? What legacy will you leave behind? - Total Wealth Perspective: Beyond Financial Assets
While the post emphasised “not running out of money” and optimising “unspent capital,” holistic planning begins by looking at all forms of wealth:- Tangible and intangible assets: Beyond money, what skills, relationships, and opportunities contribute to your life?
- Human capital: How can we grow and sustain your capacity to earn, create, and contribute?
- Legacy assets: What will remain to benefit future generations and society?
Planning the Client, Not Just Their Money
Financial planning often starts with the numbers: assets, liabilities, income, and expenses. A holistic plan, however, begins with you.
- Who are you? What are your values, talents, and aspirations?
- Why are you here? How do your goals align with your purpose?
- What does a fulfilling life look like for you? This includes mind, body, heart, and spirit.
Only after painting this full picture do we consider financial strategies to support your life’s mission.
Reframing the Risks
The traditional approach rightly highlights the fear of outliving one’s capital. This is indeed a concern, but it’s not the greatest risk. A life left unfulfilled—that’s the real danger.
By starting with your favourite future and working backwards, we address financial risks in service of a more significant goal: living a life of crescendo, where your greatest achievements lie ahead.
- Instead of focusing solely on “not running out of money,” we ensure your wealth aligns with both your needs (security) and desires (purpose).
- Instead of “unspent money is missed opportunity,” we say money is a tool for intentional living, to be allocated where it creates the most meaning.
How Holistic Planning Elevates the Process
Traditional financial planning is robust but incomplete. By embracing a holistic wealth framework, we expand the vision to include:
- Values-first planning: Understanding who you are and what truly matters to you.
- Purpose-driven goals: Aligning your talents and resources to create lasting impact.
- Whole-person well-being: Balancing financial, physical, emotional, and spiritual health.
- Service to others: Enhancing not just your life but the lives of those around you—family, community, and even the planet.
- Human capital strategies: Developing resilience, longevity, and sustainability in your earning potential.
- Project-based execution: Turning your dreams into a manageable, coached action plan.
What Does This Mean for You?
Holistic wealth planning doesn’t just secure your future; it enriches your present. It’s about living with intention and ensuring every resource—money, time, and energy—is aligned with your values and purpose.
If you’re curious about how this approach can transform your life, I’d love to have a conversation. Together, we can design a plan that goes beyond the numbers and helps you achieve not just a successful life, but a significant one.
Let’s create your favourite future—one step at a time.
Steve Conley
Chartered Financial Planner & Founder, Academy of Life Planning
Helping you align your wealth with your purpose.
Q&A: Understanding Holistic Wealth Planning
Q: What is holistic wealth planning, and how is it different from traditional financial planning?
A: Holistic wealth planning goes beyond managing financial assets—it’s about aligning all aspects of your life with your values and purpose. While traditional financial planning focuses on numbers like income, expenses, and investments, holistic planning begins with you. It looks at your entire wealth picture, including your talents, relationships, goals, and legacy. The aim is to help you live a life of significance, not just financial security.
Q: Why does holistic planning start with me instead of my money?
A: Because money is a means, not an end. To create a plan that truly supports your life, we first need to understand what’s important to you—your values, aspirations, and purpose. By starting with who you are and why you’re here, we ensure that every financial decision aligns with a life that feels fulfilling and meaningful to you.
Q: How does holistic wealth planning address risks like running out of money?
A: While traditional planning focuses on the fear of outliving your money, holistic planning reframes this. Instead of just preventing “running out of money,” we focus on ensuring you have the resources—financial, human, and social—to support your needs and desires throughout life. By building resilience and creating strategies for sustainable income, we manage risks while staying aligned with your purpose.
Q: What do you mean by eudaimonic goals, and why are they important?
A: Eudaimonic goals are those that fulfil your deeper sense of purpose, going beyond immediate wants or pleasures. They’re about living meaningfully and contributing to something greater than yourself. When your goals are connected to your values and purpose, they not only enrich your life but also create a legacy that lasts.
Q: How does holistic planning incorporate things like community and legacy?
A: At the heart of holistic planning is the idea that we are all interconnected—what we do impacts those around us. This means we consider not only your personal goals but also how you want to support loved ones, contribute to your community, and leave a legacy. By integrating these into your plan, we ensure that your wealth serves a greater purpose.
Q: What types of wealth are considered in holistic planning?
A: Holistic planning includes all forms of wealth:
- Financial wealth: Your income, savings, and investments.
- Human capital: Your skills, talents, and earning potential.
- Social wealth: Your relationships and networks.
- Legacy assets: The impact and contributions you leave behind.
This broader view ensures your plan supports not just your financial life but your overall well-being.
Q: What is meant by “living a life of crescendo”?
A: Traditional planning often focuses on retirement as a time to wind down. Holistic planning sees it differently—it’s about living with purpose and building momentum, as if your greatest achievements lie ahead of you. A life of crescendo ensures every stage of your life is meaningful and fulfilling.
“Your most important work is always ahead of you.” From Cynthia Covey Haller’s Live Life in Crescendo, a book co-written with her late father, Stephen R. Covey.
Q: What if I don’t have enough financial resources right now?
A: Holistic planning is about more than money. By identifying your human capital—your skills, talents, and potential—we can create strategies for growth. Whether it’s exploring entrepreneurial opportunities, sustainable livelihoods, or career development, we focus on building resilience and creating a path forward.
Q: How can holistic wealth planning help me create a more balanced life?
A: By integrating all aspects of your well-being—mind, body, heart, and spirit—holistic planning ensures that your financial decisions support your overall life goals. This balance means you’re not just working towards financial security but living a life that feels aligned and meaningful every day.
Q: How do I get started with holistic wealth planning?
A: It starts with a conversation. Together, we’ll explore who you are, what matters most to you, and how we can align your resources with your goals. From there, we’ll create a personalised plan that helps you achieve not just a successful life, but a significant one.
Ready to start planning your favourite future? Let’s take the first step together.
This Q&A is designed to make holistic wealth planning accessible and relevant while encouraging reflection and action.
For further details, please visit the Academy of Life Planning.
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