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360 Private Wealth Management - The Natural Wealth™ Process: Vision Guide 2024 Thumbnail

360 Private Wealth Management - The Natural Wealth™ Process: Vision Guide 2024

The Natural Wealth® Process

The Natural Wealth® Process is a proprietary financial life planning system we use to help clients achieve their life vision, their most important life goals, and objectives, goals and objectives that align with their values, passions, and purpose.

Vision is the heart and core of the Natural Wealth® Process planning model. Your Vision guides decisions and actions in the other elements (Wealth, Tax and Estate, Cash and Cash Flow, and Risk Management) throughout each plan year.

Your Vision in the Natural Wealth® Process will be a list of your long- and short-term goals, ideally determined by reflecting on what’s really important in life to you (your values, passions, and purpose) combined with a set of principles and rules, which will guide our advice and actions for you. We call the act of crafting a life vision “Visioneering.”

Your Vision is both the destination and compass of your financial life plan. The financial life plan is the map.

We take visioneering very seriously. A plan without some sense of where a household wants to go will have difficulty being relevant and energizing when challenges arise. We want our clients to have an inspiring, motivating, and inspiring Vision that helps them set rules for themselves and guides their choices going forward in the planning process.

 

Vision:

 

“If one does not know to which port one is sailing, no wind is favourable.”

-Seneca

Stop for a few minutes to contemplate a few questions:

Where are you going in life? What is your desired destination? How will you know when you get there? Are you comfortable with where you are relative to your goals and objectives? Are you satisfied with the pace?

What are your core values? What are your partner’s core values if you are in a relationship? As a family, have you discussed core values? Do you make life, work, and business decisions in alignment with your stated values?

Are you pursuing your passions in life, or are you working for someone as they pursue theirs? What are your passions in life? Are you engaged in what you do? Is what you do in life, work, and business, a reflection of your passions?

What is your purpose or mission in life? Does your purpose align with your values and passions? What is most important to you and your family?

 

How do you craft a Life Vision?

There is no real right or wrong way to draft a Life Vision. That said, the most effective life visions we have seen have come from taking time to reflect and determine what is really important in life and what, if one were to come to the end of life, they might have regrets about.

We use three focusing questions to help clients articulate what they want from life and their wealth. The three questions are:

  1. Who/what do you aspire to BE?                              
  2. What do you aspire to DO?
  3. What do You aspire to HAVE?

The key is to answer the three questions in the order they appear: BE, DO, HAVE. The answers should reflect your life values, passions, and purpose. They should be your most important life goals: the reason you work, save, and invest.

To add further clarity to the answers and confirm that your answers reflect your values, passions, and purpose, we recommend inserting a “crystallizing” question after one answers each of the focusing questions. The question is, “Why?” Suppose you cannot answer with “why” you want to “be” a certain kind of person, “do” certain experiences and accomplishments, and “have” particular possessions. In that case, you need to explore your answers further because when the going gets tough, your stated BEs, DOs, and HAVEs might lose their resonance and relevance in the face of the challenges faced. In other words, they may not have been your real goals and objectives in the first place.

To better answer the three focusing questions, we believe many people and households would benefit from first reflecting on their personal values, passions, and purpose.

 

First things first…Values

First, consider your values. Core values are fundamental beliefs that influence your choices and behaviours. From our experience, we can say that few individuals, households, or businesses take the time to reflect, uncover, and confirm their values, passions, and purpose. It’s too bad because what is very evident in our experience is that those who do accomplish more in their existence than the rest combined! And they have more fun doing it! They are pumped about achieving their most important goals! This is, by no means, an overstatement. It is a fact.

While values, passions, and purpose are often intertwined, we think a linear approach often provides. Determining your values is a personal and introspective process that involves self-reflection and thoughtful consideration of what is most important in your life. Here are a few examples of core values:

  • Authenticity: Being true to yourself and others.
  • Integrity: Upholding honesty and ethics in all actions.
  • Compassion: showing empathy and kindness in all interactions.
  • Resilience: Overcoming challenges with strength and poise.
  • Balance: String for a harmonious balance between work, personal life, and well-being.
  • Excellence: Striving for the highest quality in anything you do.
  • Continuous Learning: Embracing a mindset of lifelong learning.
  • Innovation: Embracing creativity and innovation.
  • Community: Valuing relationships and contributing to the community.

These examples are only a few of what are quite literally hundreds of possible personal values. A quick Google search on “defining your core values” will return many sites providing techniques on determining values and, in some cases, lists of values to stimulate your thinking if you are stuck. The trick is to identify which ones resonate with you.

Here are some ways you can take to identify your core values:

1. Self-Reflection:

Set aside time for introspection. Reflect on your past experiences, significant moments and times when you felt most fulfilled or proud. Consider what was happening and why those moments were meaningful.

 2. Identify Core Beliefs:

Think more about the principles and beliefs that guide your decisions and actions. What do you stand for? What moral and ethical principles are important to you?

3. Examine Role Models:

Identify people you admire or consider as role models. What qualities do they possess that you find admirable? These qualities can offer insights into your core values.

 4. Consider Your Passions:

Reflect on your interests and passions. What activities or causes ignite your enthusiasm? The things you are passionate about often align with your values.

5. Explore Contrast:

Sometimes, contrasting experiences can help you identify your values. Consider situations or decisions where you felt conflicted or uncomfortable. What values might have been compromised in those situations?

6. Use Values Lists:

As suggested above, look at lists of common values to help you articulate and refine your own values. These lists will often include some of the values shown in the examples above and many more. You can find lists of values on the web, or you can call our office for a list.

7. Seek Feedback:

You might want to be a bit more careful with this one, but asking for feedback from trusted friends, mentors, or family might provide valuable insight into your character and the values they perceive in you. You might need to be a bit prepared to hear things you might not expect, but if that occurs, it can be a positive experience if your real goal is to grow from the values identification process.

8. Visualize Your Ideal Self:

Think about your vision for yourself, your “ideal” self, and the life you want to lead. What values are integral to that vision? This can help clarify and solidify your core values going forward.

9. Test, Retest, and Refine Your Values:

As you navigate life, continuously test and refine your values. Experiences and challenges can provide clarity on what truly matters to you.

Remember that identifying your values is an ongoing process. As you grow and evolve, your values may also shift. Regular self-reflection can help you stay connected to your core values and ensure that they align with the person and, if applicable, the family and business you aspire to be.

Determine Your Passions:

In developing your Life Vision, you might want to determine what inspires and motivates you in life and work. Determining passions is a personal and introspective process that involves exploring your interests, reflecting on your experiences, and paying attention to what brings you joy and fulfillment. Here are a few steps to help you clarify your passions:

1. Reflect on Your Childhood Interests:

Think about activities or interests that captivated you during your childhood. Sometimes, our early interests provide clues to our enduring passions.

2. Take Note of What Excites You:

Pay attention to what activities and subjects excite you. What makes you feel enthusiastic and engaged? These moments of excitement may point to your passions.

3. Explore your Hobbies and Activities:

If you enjoy hobbies and activities, including sports, arts, music, writing, volunteering, or anything else that piques your interest, look to these activities as possible indicators of your passions.

4. Consider What You Lose Track of Time Doing:

Consider what activities where you lose track of time doing. If you’re so immersed in an activity that hours pass without notice, it may be a sign you are passionate about it.

5. Think About What You Love to Learn:

Consider the subjects you love to learn about in your free time. Pursuing knowledge in a particular area can indicate a passion for that subject.

6. Identify Your Strengths:

Reflect on your strengths and natural talents. Your passions are often linked to your strengths, as engaging in activities that utilize your strengths can be particularly rewarding.

 7.  Consider What Bothers You:

Identify issues or challenges that bother you or make you feel compelled to make a positive change. Your passion might be connected to a desire to address these issues.

8. Experiment and Iterate:

Be open to experimentation. Your passions may evolve over time, and exploring different interests is okay until you find what truly resonates with you.

9. Evaluate Your Energy Levels:

Take note of activities that energize you rather than drain you. Passionate pursuits often leave you feeling invigorated and fulfilled.

10. Explore Different Careers:

Investigate different career paths and industries if you are starting out in life and trying to figure out what you want to do to earn a living. Look for areas where you can align your values, skills and interests. Your passion may lie in a field that allows you to do what you love to do on a daily basis.

11. Ask for Feedback:

Seek feedback from friends, family, and colleagues. Sometimes, others can observe your passion or certain activities more objectively than you can.

Once you have your passions written down, you may want to arrange the list in order of their rank as to how passionate you feel about each of your answers.

Building your Life Vision around your passions can be an especially inspiring exercise and potentially make your life more rewarding and fun.

 

Define Your Purpose:

We believe that defining your purpose is a natural extension of you defining your values and determining your passions. Your purpose may become evident in completing the values and passions exercise.

A thoughtful life purpose can be scary for some, especially if their purpose tells them they may well be climbing the wrong ladder in life. However, if you are looking to “live well” and make the most of the life you have before you, it is wise, after some reflection, to live and work in as close an alignment with your purpose as you can.

How do you begin to define your purpose? Here are a few ideas:

1. Reflection:

Reflect on your life experiences, both positive and challenging. Consider times when you felt most fulfilled and engaged.

2. Review Your Core Values:

Review your answers from the values exercise above. What principles are most important to you? Your purpose is often aligned with values that resonate deeply with your authentic self.

 3. Consider your Strengths and Talents:

Think about your strengths and natural talents. Your purpose may be closely connected to leveraging these strengths to make a positive difference.

4.  Review Your Passions:

Go back and look over your answers to the Passions exercise. Your purpose is often intertwined with what you love.

5. Think About Impact:

Contemplate the impact you have on the world or on others. How do you envision making a positive difference on a small or large scale?

6. Visualize Your Ideal Self:

Envision your ideal self and the life you want to lead. What qualities and achievements are important to you? This vision can provide insights into your purpose.

7. Ask Yourself Why:

Continuously ask yourself why specific values, passions, goals, and objectives seem important to you. This process of questioning can help you uncover deeper layers of purpose.

8. Consider What Matters Most:

Think about what matters most in your life. What aspects of life do you find most meaningful? Your purpose often aligns with what you hold most dear.

9. Seek inspiration:

Read about and learn from individuals who inspire you. Their journeys and contributions may offer insight and inspiration for defining your purpose.

10. Evaluate Your Impact: 

Assess the impact you have had on others or your community in the past. Reflect on the moments you when you felt a sense of fulfillment through contributing positively.

11. Be Open to Evolution:

Understand, as stated in the intro, your purpose may likely evolve. As we move through life stages, what we think is important in life changes. Be open to adapting your sense of purpose as you grow, learn, and experience new things.


Defining your purpose can help you set better goals and objectives in life and, by extension, in your financial life planning and investing activities. Purpose, along with your values and passions, can be the test for thoughts about who and what you want to be, what you want to do, and what you want to have. It might also serve you as a guide to ensure you are doing the work, where applicable, which provides you with the most satisfaction and fulfillment each day you go (in person or virtually), depending on your circumstances.

 

Putting It All Together…

Consider your notes from writing down your thoughts on some tips presented here on determining your values, passions, and purpose. Consider a discussion among the rest of the household if appropriate and where family members can effectively participate in the debate.

Now, with the thoughts uncovered in the values, passions, and purpose exercise, let’s go back and answer the three focusing questions we discussed at the beginning of this guide:

  1. Who/what do you aspire to BE?
  2. What do you aspire to DO?
  3. What do you aspire to HAVE?

Please answer the questions in the order they are asked. Write your answers to each question. Set your answers aside for a few days, set an alarm to bring them out, and review them again.

Once you are comfortable with the answers, consider sharing them with us. We will use your answers to shape your financial life plan to help you achieve your Vision, your most important life goals and objectives.

Call or email us if you want to discuss the Visioneering exercise or if you have questions. Let us know if this guide helped you uncover your values or new ones you have not considered.

David J. Luke, CFP, RFP, CLU, CH.F.C., CIM, RIAC
Financial Advisor
360 Private Wealth Management | Manulife Securities Incorporated
Unit 1 – 25 Scurfield Boulevard, Winnipeg, MB R3Y 1G4
Main Office 204.925.5868 | Direct 204.925.2073| Fax 204.925.2263 | Toll Free 844.688.3656
Email david.luke@manulifesecurities.ca  

Bjorn Kragh-Hansen, BComm (Hons), CFP
Associate Advisor
360 Private Wealth Management | Manulife Securities Incorporated
Unit 1 – 25 Scurfield Boulevard, Winnipeg, MB R3Y 1G4 Main Office 204.925.5868 | Direct 204.925.2063| Fax 204.925.2263 | Toll Free 844.688.3656
Email bjorn.kragh-hansen@manulifesecurities.ca

Sergio Barahona-Krenn, B.A in Economics (Hons)
Investment Advisor Assistant
360 Private Wealth Management | Manulife Securities Incorporated
Unit 1 – 25 Scurfield Boulevard, Winnipeg, MB R3Y 1G4
Main Office 204.925.5868 | Direct 204.925.5862 | Fax 204.925.2263 | Toll Free 844.688.3656
E-mail s.barahona-krenn@manulifesecurities.ca  

Martha McElmon  
Administrative Assistant
360 Private Wealth Management | Manulife Securities Incorporated
Unit 1 – 25 Scurfield Boulevard, Winnipeg, MB R3Y 1G4
Main Office 204.925.5868 | Tel 204.946.2309 | Fax 204.925.2263 | Toll Free 844.688.3656
Email martha.mcelmon@manulifesecurities.ca  

Miri Buks Avidar
Administrative Assistant
360 Private Wealth Management | Manulife Securities Incorporated
Unit 1 – 25 Scurfield Boulevard, Winnipeg, MB R3Y 1G4 Main Office 204.925.5868 | Tel 204.925.5140 | Fax 204.925.2263 | Toll Free 844.688.3656
Email miri.avidar@manulifesecurities.ca