Do I need a plan for my future?

Whether you’re the spontaneous type or you like having everything planned out to the last detail, you might wonder how much of a plan you should have for your future. 

The exact details of your future plan will likely depend on the stage of life you’re currently in and where you aspire to be in a few years’ time. But there are a few areas that could benefit if you have a direction to aim for. 

We’ll explore some key considerations when thinking about how to plan for the future. 

Your goals

Taking the time to reflect on your future goals is crucial if you’re wanting to work out a plan. Goals can be big, such as getting a degree, moving abroad, buying a house or accelerating your career. Others might be smaller and could include aspects like completing a renovation, learning to drive or embarking on a significant trip. 

A key factor when thinking about your goals is the timeframe. It’s often helpful to have a one year, five year and ten year plan which can help you take the smaller steps needed to achieve your aims. 


Money management is important, regardless of your life stage. It can be helpful to make plans for financial aspects such as getting a mortgage, a new car, starting a family or education. 

You might consider saving with a cash ISA to make the most of your tax-free saving allowance or putting some aside in a separate account, just to be used for your chosen purpose. 

Financial planning might involve making a budget, based on what your expected income and outgoings will be. You’ll also need to create an emergency fund for those unexpected situations. 


It’s never too early to start thinking about retirement and how you’ll manage your funds. Paying into a pension, even just a small amount per month, can help set you up for the future. 

If you’re already approaching retirement, it’s a good idea to take stock of your pension fund and set a plan in place for when you stop working. You might also want to think about what you want to do during your retirement, whether that’s travelling and exploring the world, enjoying more family time, taking up new hobbies or committing to physical fitness


It’s wise to communicate with your family about your goals so you understand individual aims and how to support one another. If you have dependents you might want to ask them about their future career or travel goals, if they’re old enough, so they feel included in any plans. 

Whatever your aims are for the future, it’s important to regularly reassess to make sure you’re on track or if anything has changed. This puts you in a good position to be able to achieve both individual and family goals. 

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I am Daniel Owner and CEO of &

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