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qualities of a financial planner

WHAT DOES A PROSPEROUS LIFE ENTAIL?

As we usher in a new year, we wish each other a happy and prosperous new year. I believe the   year 2020 was no different. How prosperous has the year been so far? As the world fights an invisible enemy, the resulting disruption to life and an imminent global recession, the temptation is to think that the year has so far been anything but prosperous.

The word prosperity denotes riches, wealth, material comfort, the opposite of poverty. But is this all there is to prosperity? My idea of a prosperous life is an aggregate of three types of capital, namely: financial, social and spiritual, which, we develop through-out our lives with the ultimate goal of finishing well. The lure of life is to focus more on financial capital while neglecting social and spiritual capital, assuming that once financial resources are available, it will be much easier to get them. There are many financially prosperous individuals, but there is scarcity of role models who finish well in all three types of capital. No wonder, many people are surprised at how the feeling of accomplishment quickly fades once they achieve financial success, just to be replaced with a greater need for a more significant life.

Since we all have only one shot at life, to finish well, we need a plan. Finishing well will mean different things to different people based on their individual circumstances and gifting. We can borrow the idea of strategic planning from successful businesses who develop, implement, review and adjust their plans to ensure they achieve their vision. A premeditated plan will guide and keep you away from many good things that distract you from living a great life.

The process of developing a personal strategic plan is challenging but very necessary. I recently embarked on a review of my plan to define tangible aspects of a prosperous life that I want to achieve. Praying to God for wisdom and researching* on those who have finished well has been very helpful.  Below is a summary of my most desirable outcomes for each type of capital to finish well.

  • Financial independence: Prudently manage financial resources to meet my short-term and long- term needs without being a burden to anyone and be a blessing to others.
  • Social: Develop thriving relationships with family and friends paying closer attention to immediate family, getting to know each one of them well, helping them grow, mature and flourish in their calling and live a legacy with them as opposed to leaving them a legacy.
  • Spiritual: Develop a close walk with God, daily drawing from Him the wisdom to live my life as He intended for me when He created me.

The scriptures were very influential in my thought process and below is a sample of verses that shape my thoughts.

  • Ecclesiastes 7:8 (NIV) The end of a matter is better than its beginning, and patience is better than pride.
  • Luke 14:28-30 (NIV) “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, ‘This person began to build and wasn’t able to finish.’
  • 1 Corinthians 9:24-27 (ESV) Do you not know that in a race all the runners run, but only one receives the prize? So run that you may obtain it. Every athlete exercises self-control in all things. They do it to receive a perishable wreath, but we an imperishable. So I do not run aimlessly; I do not box as one beating the air. But I discipline my body and keep it under control, lest after preaching to others I myself should be disqualified.
  • Proverbs 15: 22 (ESV) Without counsel plans fail, but with many advisers they succeed.
  • Philippians 3:17 (NIV) Join together in following my example, brothers and sisters, and just as you have us as a model, keep your eyes on those who live as we do.

In our next article, we will look at building a foundation for financial prosperity.

*Recommended resources