Papa, can you carry me, please?My daughter Avery calling me to carry her
This is how my life had changed from single bachelor to a husband and recently of having two loving kids. In these phases of life, my values and views had changed. How I spend my money is also different. Many years back, money earned was only meant for my own self. I worked as an engineer and the pay was average then to cover most of my necessities. The term financial planning was really not of my concern. As long I am not overspending and having some savings at the end of the month, I would be contented.
Since then, I met up with my life partner. We had dated, shared our interests whether it is our career or personal matters. This girlfriend of mine at that time was into financial planning and I thought it is just someone that is selling financial products, such as an insurance agent or an unit trust agent or some sort. However, she had changed my perception entirely on what financial planning is all about. Since then, I had even enrolled into a worldwide known Certified Financial Planning (CFP) course to further increase my understanding into how personal finance is being planned or in my term ‘engineered’. Thankfully with the help from my girlfriend, I did passed the exam and that really gave me some spark of interest in this field.
Then our big day had come. We got married. Sometimes, I said to myself, this ain’t much different right? My wife had her own career while I have my own. So financially we are kind of independent financially. Few months after getting married, my wife told me she was pregnant! We hugged in joy and appreciate the moment. After 52 Weeks passed and we have our first child, our daughter Avery.
One fine day, while I was just on a chill mode having coffee, I reflected on myself now and comparing it with my previous single bachelor moments. I said to myself, “Wow, I really had achieved quite a milestone!” I was joyous for that moment but concurrently, I was also struck with a sense of huge sense of responsibility. I have suddenly realize not just I need to be responsible myself but I must be also responsible to everyone in the family. My wife and at that time, my only daughter. (At the point of writing, we have our second child, our son Zavian.)
It was by then, I was wondering what if an event that occur to me which I would not be around to take care of the family in full capacity anymore? Will my wife be able to take care of them? It was by then I realize the importance of financial planning and how it would benefit my family in the long term.
Not just I need to accumulate wealth but also having a plan to manage it responsibly. Through financial planning one is able to design to preserve and distribute wealth in a proper manner. Many people would have joy viewed differently. For me, having real joy is really to ensure that I am prepared for any possible unfortunate events in the future.
This is my take of Joy with financial planning. How would you do yours?