Without Vision, the Financial Plan Perishes

Vision can completely transform someone’s financial world. One of the highlights of my career has always been participating in the vision conversation. That first discussion where we ask, "What do you want to accomplish that takes time, money, and planning?" Once we helped clients articulate a vision for their lives, we could assign numbers to the dream and build a financial plan around it.

The truth about financial planning is this: it is irrelevant without a vision. If you do not know what you want out of life, how can you possibly plan for it? It becomes a waste of time, effort, and energy to plan for something undefined or elusive.

Starting with vision and that key question, "What do you want in life that takes time, planning, and money to accomplish?" we can begin to put pen to paper and shape the details of what matters most.

Over the years, advising with some of Canada’s most successful families and entrepreneurs, I have seen vision become the grounding force that propels people’s actions in the financial realm forward toward something meaningful. I have also seen what happens in its absence. Finances drift, intentions blur, and people end up in a place of financial instability or regret, stalled and unfulfilled dreams and lacking hope.

Vision planning is often a powerful experience for couples in particular. It gives them a shared purpose and direction for their family, retirement, and giving. It has consistently been my favourite part of the financial process.

To illustrate this further, consider how often people say things like:
"I need to save more."
"We’re overspending."
"I have to stop spending money."

But save for what? What exactly are you spending on? These phrases are common, but without vision, they are empty. Financial habits need direction.

In Habakkuk 2:2–3, the Lord answered Habakkuk and said:

"Write the vision
And make it plain on tablets,
That he may run who reads it."

This speaks directly to financial vision that you have inside of you, waiting to emerge. The vision must be clear. It must be written down plainly, in simple and specific terms.

For example, if someone says, "We want to buy a house," that is a good start. But it’s so vague that the next questions need to be defined to really understand what somebody is looking for:

Where?
How many bedrooms?
Is there a yard?
What does the yard look like?
How old is the house?
How many stories?
Is it on a quiet street?
Is it in the city or in the country?

The more detailed and vivid the vision, the more focused and determined we become in pursuing it. We are not chasing just any house.

Now the work begins on your end.

What do you want to accomplish that takes time, money, and planning?

Get specific, write the vision, make it plain and then run.