Right now, due to quarantine, we are stuck in our homes and it sometimes feels as though it will never end. But there will be life after quarantine is over, and there is no better time to prepare for it than now. If you could go anywhere or do anything, what would it be? What do you want your life to look like? What is important to you?

When thinking about what you want, it is necessary to consider both the big picture and the details. Perhaps being at home has made you realize that you want to travel. Maybe you want to go on multiple small trips a year, or one bigger trip annually.   Perhaps, it’s even a once in a lifetime trip around the world that you desire. Each of these options requires different financial considerations. The cost, how frequently you will need the money, and how soon the funds need to be available, are all financial considerations that change based on what you want your travel plans to look like.

You may hate traveling and view your home as your oasis, but being home has you noticing things you haven’t before and inspiring you to make some changes. These changes can range from a new coat of paint, to renovating a bathroom, to an addition, or even deciding that your home is too small or too big to fit your current needs. Putting some money aside weekly to save up, getting a mortgage or Home Equity Line of Credit (HELOC), or withdrawing funds from a savings or brokerage account are just some options to obtain these goals.   It’s important to be sure that you are using the best financial plan for you to fulfill your needs.

The recent rise in unemployment may have you looking at your budget and deciding it is time to reduce your spending and overall debt, or wishing you had a bigger financial security net. Having your children or grandchildren virtually going to school at home may have you thinking about wanting to help them through college and potentially opening a Uniform Trust to Minors Act (UTMA) account or 529 account for them. The additional time at home may have urged you to spend more time on your hobbies, or finding a love for a new hobby. If you grant yourself the time to evaluate what you value, and determine your goals, you can accomplish more than you might even be able to imagine.

Most people have more than one goal they would like to obtain. It is important to consider what you value most and prioritize your goals. Then, a plan can be created to help you reach those goals. This way you can be sure that what you value most is receiving most of your attention. Everyone has different goals, values, and needs. How they are met changes from person to person and family to family. There are no right or wrong goals, only what is right for you and your family.

Things can happen to derail your plans. Some obstacles may be small and possibly avoidable, some may seem insurmountable, some you will never see coming. Three months ago, no one would have imagined our lives looking the way they do at this moment. This does not mean that your goals cannot or will not come to fruition. The important thing is to accept that things beyond your control happen, forgive yourself for mistakes you make, adjust the plan when necessary, and continue to keep moving toward your goal.

At Lighthouse Financial Advisors we know our client’s values and goals are important to them and make it a point to help you get to where you want to be in life. LFA is lucky to have clients who share pictures of their journeys with us. Some pictures have been taken in their backyards, others are from around the world. You can view some of their pictures on our website at the link below. Life is a journey, not a destination. Enjoy it!