Our well-being affects all facets of life. While Lifestyle Financial Planning (LFP) is viewed as a holistic solution, it still focuses on financial aspects of “wealth.” It does not bring out the “total needs” of an individual and then plan for Life. Planning for life based on Total Wealth Planning drives wealth and career success in harmony. You can have both, a great life and “career success”.  But, how? Let us look at the extreme. Take, for example, a person who has worked all his life in trying conditions at the cost of family and/or health. Are these uncommon scenarios? Not at all says Dr Yahanpath.

As one of the most successful financial planners confided “My high-net-worth clients do not need pure financial planning because they have enough to retire on for this generation and, for the next as well. What they need is what you call Total Wealth Planning. I must be more than a financial planner to satisfy these clients.”

Dr Yahanpath puts these total wealth needs in a neat quadrant and calls it Total Wealth Quadrant (TWQ). Then, he develops a range of metrics to measure the “balance” of different drivers of Total Wealth. Only when you press the non-financial buttons people reveal the total picture says Dr Yahanpath.

The approach is relevant to blue collar workers as much as the high-net-worth individuals. For example, it may be even more important to manage physical wealth for blue collar workers. As a truck driver puts it “Total Wealth Quadrant (TWQ) showed me for the first time how poor I score on family and physical wealth, and if I fix them, it will help me to score well even in financial wealth.”

Life is not only about “financials”. Life is about relationships, health, fulfillment, and wellbeing.

The scarce resource is TIME. We must optimise everything around time. There is no way around it. Total Wealth approach assists to:

• Understand the relevance of wealth beyond money – Total Wealth
• Identify gaps in Total Wealth
• Develop and implement purpose driven life plans
• Adjust and re-align lifestyle strategies
• Evaluate non-financial risks
• Manage scarce resource allocation to four attributes of Total Wealth

When we follow the above approach effectively it will assist in Total Wealth accumulation. This is an innovative balanced approach to managing life. It is more robust not only in Total Wealth terms but also in financial wealth terms. It brings key drivers of life under the umbrella of Total Wealth. Once we learn how to view wealth through the prism of Total Wealth, it helps us to embrace a more balanced and fulfilling approach to wealth management including financial wealth management. The approach is agile and flexible.

Dr Yahanpath presents Total Wealth as a short seminar, half-day seminar, two-day workshop, use of the calculator and metrics, on-site implementation, and on-going training.

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