Once you reach the pinnacle of your profession, how do you balance reaping the rewards of your achievements with your plans to enjoy life beyond work?
Making the leap from professional to partner is a landmark in anyone’s career. Depending on the type of firm you work for, it could take 10 to 20 years of hard work and commitment to get there. With it comes a higher salary, more authority and probably a slice of the business too. But it also comes with new realities and responsibilities that could eat into your time and derail your longer-term plans to enjoy the next stage of your life.
Whether you’re in the position of partner, aspiring to get there, or just want to be the best at what you do, these seven financial habits can help you find the balance between professional and personal purpose.
- Keep perspective
Once you’ve reached the heights of your profession, what next? It’s important to use this opportunity to further your life goals, rather than make it the main focus itself. Many of the lessons from the road to becoming a partner – like thinking long term – apply to great financial planning too. We’ve spent years helping professionals balance responsibilities and reap the rewards without losing sight of their exit strategy or life beyond work.
As a partner, you can expect more, but more is expected from you too. On the journey to becoming a partner you’re likely to have spent some time managing others. Just as you’d have delegated work to the people best equipped to carry it out, you should approach financial planning as something to trust the experts with.
- Be clear about goals
There are work goals and there are life goals. Over the course of your career, they may converge to some degree, but it’s a mistake to believe that what you want to do with your career and what you want from life are the same. When we begin working with you, the first thing we do is listen, to understand what the life you want really looks like. That way, we can build a plan that gets you there.
- Seek out those who share your values
The word ‘partner’ might be part of the job description, but it means much more than that. You need to surround yourself with people and organisations that work with you to help you achieve the life you really want and support you through difficult times. At Citywide Financial Partners, there’s a clue in our name – we’re not here to perform transactions, we’re here to build and develop lasting partnerships to support our clients. One of the most important values we hold is that our own set of values must work well with yours.
- Think holistically
As you progress through your career, you’ll employ all the lessons you’ve learned from your experiences and the journey you’ve been on so far. It’s the same with financial planning – you’ll benefit from a high-level appreciation of your full financial background and circumstances, as well as knowing the finer details of your finances. While you’re pushing your work forward, we’ll fine-tune things in the background to make sure your money stays on track to work as hard as possible for you as life evolves.
- Keep in mind those closest to you
When you’re in the thick of your career, there isn’t always as much time as you’d like for family and friends. It’s important to make sure that, when you leave your professional life, you’re able to spend time with the people you want to, doing the things you want to do. You’ll want reassurance that they’ll have financial security, while you’re still around and after you’re gone. It’s our job to make sure your financial plan continues to provide the lifestyle and legacy you want for you and your family in the years ahead.
- Allow yourself to listen and learn
Even if you’ve spent years getting to the top of your game, you shouldn’t lose sight of the fact that learning and development should be continuous. It’s always valuable to gain the perspective of someone who understands what you’re facing and can help you navigate it. You don’t need to figure out everything for yourself, or deal with increased responsibilities on your own.
At Citywide, we work with clients who function at the very apex of their profession. What matters now is how you use your career success to your best advantage. It’s for you to make the very most of your professional years, and it’s for us to make sure that while you’re doing that, the life you dream of is waiting for you when the time is right.
You can read more in our full guide for professional partners – fill out the form below to get your copy or contact us to book a call.
Get the full guide, ‘The 7 financial habits of successful professional partners’