Australians with a financial plan more likely to ‘live the dream’

​Do you remember the Kerrigan family in the classic Australian movie, The Castle? They saw themselves as the “luckiest family in the world” when Dad got a great deal on a property in Bonnie Doon with a mobile kit holiday home overlooking massive electricity power lines. “How’s the serenity?” was one of many famously comical lines.  

(Text courtesy of Dante De Gori CFP®, CEO, Financial Planning Association (FPA) of Australia)

​Now, your idea of living the dream might be different to the Kerrigan family. But our new Live the Dream 2017 FPA national sentiment research reveals almost 1 in 4 Australians share the Kerrigans’ sense of dogged optimism, believing they are “mostly” or “definitely” living the dream today. 

Press the image to get your copy of "Financial Planning Association (FPA) Live the Dream Report (August 2017)"

And music to my ears, as CEO of the Financial Planning Association, is the finding that working-age Australians most happy with their lot in life—we’re calling them “Go-Getters”—are also most likely to have a financial plan.

​They are also nearly three times more likely to seek the advice of a financial planner than those who self-describe as not yet living the dream. Last year, in our Dare to Dream 2016 report released for Financial Planning Week, we discovered Australians are optimistic and daring to dream about their future, despite challenging economic times, financial stress, and regret at not saving enough.

You can still find that report on our website, fpa.com.au.

This year, we deep dive into how we are going as a nation at living out those dreams. We’ve carved out four new personality profiles: GoGetters (33%), Cruisers (19%), Daydreamers (32%), and Builders (16%), and we pinpoint some fascinating differences between states, generations, and genders.

For example, almost three quarters of Australians find planning their life hard, but NSW residents struggle by far the most (see page 10). Gen X and Gen Y are the most stressed about money and finance, and yet they’re also the ones most likely to struggle with planning than those that are older.

​I’m personally fascinated with our nation’s “GoGetters” (see page 14). Beyond being solid planners, they rise early, spend more time with their family, plan their diaries, and meditate or engage in spiritual activity five times more often than Australians who say they are not living the dream.

Regardless of your personal profile, my hope is more Australians will be inspired this Financial Planning Week through our Live the Dream campaign, and the stories it unlocks, to seek the advice of a financial planner and #getaplan.

​Why? I’m more resolved than ever that the financial planning profession holds the key to unlocking the happiness of our nation. Thanks to all our 13,000 FPA members working tirelessly to equip and empower people from all walks of life, ages, and geographies, to truly live their dreams. 

Get your copy of "Financial Planning Association (FPA) Live the Dream Report (August 2017)" here.