Recently a survey was undertaken by a major Canadian mutual fund firm. The research concluded that many people are frustrated about attaining their goals for financial wealth and their ability to realize their dreams. As they approach retirement, many individuals are having difficulty in identifying how they want to spend their time and money – precisely at the juncture of their lives when one should have more of both. Recent global events and poorly performing stock markets may have left us mistrustful, cynical and longing for satisfaction as we pursue our individual goals in life.

“For many people, satisfaction is a mirage that exists somewhere in the distance – it becomes unattainable,” as stated by a senior vice president of the firm that conducted this survey. “These findings highlight the need to define what is important in your life, no matter how old you are, and to plan your personal goals, not just your investment goals.”

Key milestones in life help us define success, or more important, help guide us on the path toward achieving satisfaction in life. Our major goals of career, marriage and family are usually attained by retirement age. Yet we still wish to fulfill other areas of life beyond this.

Outside of your financial goals, it is critical to feel good about your life after retirement, whether that means developing and pursuing a hobby, engaging in sport, participating in volunteer work or committing leisure time with family and friends. By placing emphasis on achieving true satisfaction in life, one can easily understand that worrying about the burden of recently performing stock markets diminishes significantly. The scales of your life should tip toward peace of mind and the fulfilment of your dreams. Balancing your personal and financial goals will be your path toward a rewarding retirement.

One key factor in determining financial peace of mind is to have a formal plan. It is not easy to balance all the factors that contribute to your personal and financial success. You may benefit from the advice given by a financial advisor. Having a sound financial plan can help chart both personal as well as financial aspects of your life.

This is a monthly article on financial planning. Call or write to Rick Sutherland CLU, CFP, FDS, R.F.P., of Fundex Investments with your topics of interest at 798-2421 or E-mail at rick@invested-interest.ca.