I recently sat down with a client who was feeling stuck. Their financial plan felt less like their plan and more like an attempt to keep up with the Joneses. So, I set the spreadsheets aside and asked one simple question:
“What makes you happy?”
That shifted everything. We uncovered their true passions and built a plan aimed at purpose-driven goals, not just financial milestones. Since then, I’ve made this question a regular part of my process, because knowing what makes you happy is like having a North Star for your financial journey. Without it, you risk chasing the wrong goals or a dollar amount that doesn’t truly matter to you.
The Benefits of a Happiness-First Approach
- Identify your true goals – This is the starting point for both your financial plan and your day-to-day priorities.
- Align savings and investments to your goals – You’ll be more committed to the plan, less tempted by lifestyle creep, and more focused on what matters.
- Keeps things simple – Finances should be about simplifying your life not overcomplicating it.
- Build a plan that works for your life by:
- Evaluating spending – Keep what matters, cut what doesn’t.
- Saving & investing with purpose – When you know why you’re saving, it’s easier to stick with it.
- Navigating life transitions – From job changes to retirement to kids’ college, your “happy list” can guide your choices.
- Managing risk – Knowing what’s important helps prioritize insurance, estate planning, and other protections.
Defining Your Happy
It’s one thing to say, “focus on what makes you happy,” but how do you actually figure that out?
Here are a few exercises I use with clients:
- The Perfect Day – Imagine your ideal day from start to finish.
- Money Well Spent – Look back at the last three purchases or experiences that brought you the most joy.
- Stop Doing List – Identify the activities that drain your time, money, or energy without adding value.
- Journaling – When do I feel most fulfilled? Who am I with? What am I doing?
Putting It Into Your Plan
When you know what makes you happy, your financial plan becomes a tool for living, not just saving. That means:
- Aligning your goals with your “happy list.”
- Prioritizing savings for experiences or life choices that truly matter.
- Setting milestones and check-ins to adjust as your definition of happiness evolves.
And it will evolve over time, what matters most today may shift in five, ten, or twenty years.
Defining “Enough”
If you’ve read my Buying the Watch article, you know one of my favorite moments as an advisor is giving someone permission to enjoy their success. Part of keeping happiness at the core of your plan is deciding what “enough” looks like.
We can always chase more money, but knowing you’ve reached your personal “enough” can reduce stress, prevent overworking, and open the door to living your dreams sooner.
I hope this gives you a fresh perspective on building or refining your financial plan. If you’d like to explore this approach for yourself, email me at JR.Frenzel@goodlifefaWV.com or call 304-693-2727 to set up a free life vision assessment. Let’s design a plan that helps you live your happiest life, right here in the place you call home.