Big financial decisions – like changing careers, starting/selling a business or contemplating retirement – are never just about money. You also need to consider emotional issues, relationships and values. That is why it makes sense to have a structure, a setting and a sounding board for big decisions.
Financial advice can help with all those things, as you juggle the financial and emotional challenges of life’s turning points.
As always, this process starts not with money, but with defining what is important to you.
This week’s blog provides useful perspectives on how to make better financial and other decisions.
Life’s Big Changes
A challenge with decisions around life’s turning points is that there frequently can be lots of moving parts. A career change might require substantial investment in training. A divorce might demand the sale of assets. Providing structure and clarity around this web of influences is a role financial advisers play, as this article explains.
Making Smart Decisions
Few things will change our trajectory in life or business as much as learning to make effective decisions. Yet no one really teaches us what it means to make consistently high-quality decisions beyond relying on luck. On that score, the decision-making principles in this article are both practical and time-tested.
The psychology of decisions
Making effective big decisions requires shaking yourself out of the inertia of daily life and focusing on the big picture. But that’s easier said than done. One suggestion is to start by reflecting on your purpose and values, rather than on the nuts and bolts of your present situation. This psychologist explains.