Having essential basic needs covered for the long term is a major financial accomplishment. Naturally, there’s more to life than meeting minimum living standards. People find joy in all types of hobbies, vacations and family trips. However, lifestyle also encompasses what many consider to be modest luxuries such as high-quality vehicles, trips to nice restaurants and amenities in the home to make life more enjoyable.
Once a financial baseline for daily is secured, the next step is to plan for a level of comfort.
Lifestyle for Today and for Tomorrow
It’s difficult to anticipate what hobbies, interests and traveling opportunities may be on the horizon. People often worry about overspending and living above their means. However, one of the best ways to secure a comfortable lifestyle is to invest in products which will continually allow this level of financial support.
The question becomes: how do you know what products will be the best? Financial advisors can now use Decidere to weight criteria that help find investment products which meet the ensuring lifestyle objective. Because these aspects vary as much as people do, the algorithm allows FAs to add weight to different criteria and help establish a secure plan to meet this level of finances.
The advancement of our current tools is allowing people to uncover options by creating scenarios which are not purely “black and white.” If you’re interested in how data-driven financial planning can provide realistic solutions, reach out to Craig Stiles and learn more about how he is using Decidere to change the process.