October: Financial planning month

October: Financial planning month

by Alex Cook

October: Financial planning month

With the new year cresting over the horizon, October (Financial Planning month across the globe) is the perfect time to evaluate your financial status and assess where you are, what you’ve done and what you can still do to make sure you are still on track to meet your short-term and long-term financial goals. Having said that, every month should essentially be an important month for your financial planning, right?


Naturally, the earlier you put plans in place, the better, but whether you are 20 years or 20 days away from retirement – or even if you already retired – with the right plan and perhaps a little professional advice, you can put yourself back on track to financial freedom.


The goal

Everyone’s long term goal is a little different, and everyone is at a different stage in their life, but the premise is always the same. Everyone wants financial freedom. It seems like the natural order of things. You put a little bit away every so often and that should be enough to see you through in your later tomorrows….right? In an ideal world, yes, but in the real world – with inflation, pandemics and unexpected expenses – probably not. Every goal needs a good, solid plan.


The Plan

Have a plan on how you intend to achieve your financial goals, one that keeps you motivated but is still broken up into clear, measurable and actionable, steps that are practical for you and your situation. Having specific steps and actions in place will:

  1. Keep you accountable
  2. Make tracking your goals and plans more manageable
  3. Keep you motivated more easily because you’ll be able to see and celebrate the smaller milestones along the way


Tracking your goals

These are plans you need to stay on top of if you are going to meet your goals. It sounds like a lot of work with endless spreadsheets but tracking your progress need not be that complicated. In fact, it’s easier than ever. Wealthbitallows you to be in the driving seat of your wealth. This easy-to-use tool gives you access to real-time data and gives you accurate insights into all the possibilities of your financial future.


By tracking your progress regularly, you can see if you need to make any adjustments before you get too far down the spending rabbit hole.


Ask for help

It is certainly doable to reach your financial goals on your own but having a financial professional in your corner does have its benefits. Your financial future is a big deal so ensure that anyone that you let into your financial inner circle has your best interest in mind and works towards your specific need


Whatever your retirement dreams are, the goals and plans you set and put in place today take care of Future-You in the later tomorrows. To keep a constant view on that, don’t forget that every month your Wealthbit profile is updated with he latest values, ensuring you can see your plan unfold over time, at your convenience.


We’ve also attached the latest quarterly report for your perusal, and don’t forget that any time you need a little help on any part of your future-planning journey, we’re just a phone call away.