Financial Planning Is Also About The Now

When people do financial planning, they often scrimp and save for the future that might never come.

That is why at Providend, we adopt the purpose-driven financial planning approach – To always first ask our client what is that meaningful life that they want to live today before proceeding to set aside money for the future.

Our financial solutions revolve around your life goals, rather than some aimless scramble to amass wealth at all costs.

Watch this short video as Christopher Tan, CEO of Providend, shares a personal experience on this topic.

Hello everyone. Thank you very much for watching this video clip. We hope that through this sharing, we will be able to share some of our thinking and leave some food for thought and maybe make a small impact on your financial and non-financial life.

Today, I want to share with all of us a story that happened to me many years back.

I was in this show with a celebrity couple. And we were trying to find out how they actually do personal financial planning for themselves.

So, the host asked the husband whether the wife is rich. And the husband said, “Yes, my wife is very rich”. But when the host turned to the wife, the wife denied and said, “No no no, I’m not rich”.

So, the host looked puzzled and asked, “You know, your husband just said that you are very rich. Why do you say you are not?”

And so this was what the wife said. The wife said that “My money is in the bank. And as long as I have not spent the money, it’s not my money”. At that point in time, I was like, “Wow, that’s wisdom!” Because isn’t it true that we can have a lot of money in the bank but as long as we have not spent it, it is not our money.

And so, in planning for ourselves financially, we do not just want to plan for the future because that future might never come. We should also set aside some money to live life as meaningful as possible.

And so, at Providend, when we do planning for our clients, we want to first ask our client what is that meaningful life that they want to live today. And after we have done that, then we see how we can also set aside enough to plan for their future. Because financial planning is not just about the future, it is also about the now.

I hope you find this video useful. And if it is useful, please help me share it with your friends. And thank you very much for watching.

For more related resources, check out:
1. Making A Name Through Ethical Practices
2. Retiring in an Uncertain World
3. Retirewell® Part 8: Purpose-Driven Retirement Planning

We do not charge a fee at the first consultation meeting. If you would like an honest second opinion on your current investment portfolio, financial and/or retirement plan, make an appointment with us today.

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