One of the most valuable exercises I run through with clients is "flawcasting" their financial future.
It's one thing to create a personal balance sheet setting out your existing assets and liabilities, and getting an understanding of your net worth as it currently stands.
It's another thing to get an insight into what your financial trajectory looks like. This creates better perspective, and a better feel for the long-term ramifications of some of the decisions you might need to make now or in the future.
Every flawcast I create is unique to my clients. I stress that it's a FLAWcast and the only guarantee I can give is that it WILL BE WRONG. Where it really matters (such as where a client is heading into retirement), it's not the only type of modelling I perform. But that doesn't stop this exercise from being extremely valuable.
In the video below, I give an example of how this flawcasting exercise can work.
ENJOY! I hope it's valuable.
(Please excuse some of the production values, and the chipmunk voice. If I waited until my videos were perfect, I'd never complete them. You should find the video useful regardless.)