Financial Foresight: A Strategic Approach to the Future of Your Money

Financial Foresight: A Strategic Approach to the Future of Your Money

Brandy Baxter | 2021

Abstract

Families who want to save money for an emergency and retirement may have financial knowledge but lack financial accountability. The research included in this project highlights the benefit of financial coaching and foresight as an effective strategy to help clients prepare for their financial future. Currently, financial coaching helps clients reach financial goals, and financial planning helps clients make investments. However, there is a gap between having an authentic goal and funding that goal through the future.

The core of this project introduces the LENS method as a way for clients to look at their financial goals through different lenses. LENS stands for looking eagerly for new strategies, and the method encourages clients to identify new strategies to help them plan for the next thirty years of their financial life. This model gives clients a straightforward way to think about foresight strategies and apply them to their finances.