In our earlier article on this topic, we defined a financially sustainable lifestyle as one that means living in a way that does not deplete essential financial resources necessary for a comfortable and secure future. We also discussed how many families underestimate what it takes to transition into retirement and maintain their current lifestyle. Plus, the challenges faced by the “sandwiched” generation with aging parents and adult children struggling to achieve their independence.
A good starting point is having an integrated financial plan that takes into account the full picture–well-defined family goals with assets, resources and everything else that impacts the outcome you are trying achieve. Beyond this, we have identified a few strategies to consider that can help protect you and your family for the future.
While life may bring unanticipated situations, you and your family can be prepared. By living a financially sustainable lifestyle, you are able to gain control and balance your family’s needs with your own future goals. Having a detailed financial plan and making decisions in line with it lessens the financial and emotional stress. You gain a peace of mind that comes from knowing you have built a secure financial future.
To learn more about living a sustainable financial lifestyle, contact us to discuss your specific situation.