It’s fair to say that Cassie, my wife and business partner, and I have different skills, attitudes, beliefs and approaches to life. 

However we believe we share the same values. We’re fantastically proud of our kids but also understand that we’re role models for our kids and that comes with a responsibility to live what we try to teach them. Always be fair, always be improving, always try to have as much fun as possible…and always try when we can to contribute positively to the world.

However one of Cassie and I’s big differences is how we think. You see I tend to view life through a strategic lens. As you’d expect from a financial planner who spends his days building other peoples financial plans my focus is on how we achieve our goals. It’s measured not in individual years but in decades. When it comes to our own financial plan my natural outlook is focussing on the big picture.

Cassie on the other hand is far more Tactical. She tends to focus on what we need to do day in day out to achieve the broader plan. She understands that being Strategic is important but a plan without action is pointless and therefore is the one who makes sure this action happens. She’s the perfect example of the phrase “if you want something done give it to someone busy”….she’s in short pretty amazing.

Whilst some of our clients have found themselves acquiring wealth either through inheritance or redundancy and retirement after a long career finishing in senior management we have just as many who have built businesses and wealth by using being initially “Tactical” then “Strategic” and when it comes to building your financial plan successfully you need both clear elements.

Being Tactical means knowing what your longer term goal is, understanding the amount of wealth you need to be financially free and understand that planning for ‘retirement’ now is just as much about how you live the life you love and ensuring you’re able to continue to do this by looking after your financial affairs. However it’s also about planning for the worst and making sure that if the worst were to occur what you want to do with your life doesn’t come off the tracks too much.

However being Tactical is more than that. It’s about understanding that the best plans do change but the planning remains fundamental to getting closer to your goals, even if that goal might change it about truly taking the time to think about what your life looks like in the future.

Jumping straight into taking action without first being Tactical might work….but like anything important in life planning should be your first step. Achieving something as fundamentally important as your long term financial security is certainly no exception…however planning alone won’t do the job.

You see the next step is just as important. Breaking the plan into bite size chunks and taking action every day to make it happen. Having one eye on the longer term goal but understanding that it doesn’t happen without the action every day. Automating parts of the plan when required and dealing with any small bumps in the road. Changing the plan to reflect what’s happening immediately but also understanding what should be changed and what should be left well alone…in short being tactical!

The best way to make sure any plan becomes reality is to make sure you’re having the ability to be initially strategic (and review the strategy but less regularly) and then consistently tactical (taking the action required)…however the balance needs to be right.

After all, Strategy without tactics means grand plans are hatched without the required action completed to achieve the goals

Tactics without Strategy means action is taken without any understanding of what the ultimate destination is

and

For many, neither planning or action is taken when thinking about a financial plan!

So, when it comes to your financial plan are you being both strategic, tactical, both or neither?!  and what do you think you need to change to make sure you achieve your financial goals….and feel free to give us a shout, and feel stuck feel free to give us a call on 01708 606 202 or hello@cervellofp.co.uk and we’ll happily help if we can.