Relationship between lifestyle and financial goals

Lifestyle goals may involve things other than financial achievement, for example, spending more time with family, learning a craft, or performing charitable work. However, lifestyle goals need to be supported by financial capacity. You need to ask clients what would be required financially for them to achieve their lifestyle goals.

For example, if a client has a lifestyle goal of spending more time with their family, you should ask what that involves. If it involves reducing work hours by 20 per cent, does that mean the client needs to replace 20 per cent of their income? If so, the question would then be how you can help them find sufficient income from property to do this.