2025 Financial Vision: Align, Achieve, and Advance Your Wealth Goals
By Andrew Comstock, CFA®
Every year starts with a fresh sense of opportunity, and 2025 offers a unique chance to unlock your full financial potential. By embracing a proactive approach to 2025 financial planning, you can take charge of your finances, lessen financial stress, and create a solid future for yourself and your loved ones.
In this article, I take a detailed, professional look at the essential steps needed for high-income individuals to accomplish their financial goals in 2025 and beyond.
Look Back So You Can Leap Forward
Before pursuing your 2025 financial planning, let’s walk through the steps needed to look back on your 2024 financial journey.
What were your financial objectives for 2024? Did you accomplish those objectives? Have your priorities changed throughout the course of the year? How could you change your financial strategy to include these shifting priorities?
Consider your income: Did it rise, fall, or remain constant? What effect did this have on your finances? What can you do to increase your earning power? Next, analyze your spending patterns: Did your values guide your discretionary spending?
Finally, think about the big important questions: Which life events—whether positive or negative—had the biggest financial impact on you? Which financial practices or choices are you most proud of? What financial decisions could have yielded better outcomes?
This retrospective analysis offers insightful information. It helps you recognize your accomplishments, pinpoint areas for improvement, and understand the factors that shaped your progress. Remember, though, that life is unpredictable, and unexpected events could have a big effect on your finances. Therefore, it’s imperative that you include flexibility in your financial planning. As life changes, don’t forget to review and modify your plan to account for these evolving situations. The bottom line is that by taking a flexible approach to 2025 financial planning, you can navigate life’s twists and turns with greater confidence and resilience.
Setting the Stage for 2025 Financial Planning
Now that you’ve reflected on your 2024 financial journey, it’s time to prepare for a prosperous 2025.
Establish your financial objectives first. What intentions do you have for this year? Be precise. Instead of saying, “Save more money,” for example, you may say, “Save $50,000 for a contribution to a diversified portfolio.”
Don’t forget to consider personal growth alongside financial progress. Which experiences are you hoping to cultivate? Which new skills are you interested in learning? Maybe you want to enroll in an executive MBA program. Or perhaps you want to do more international traveling. Take a detailed look at how you can include these goals into your financial plan.
Establishing savings targets is another essential for meeting your financial objectives. Calculate how much you need to save each month in order to make your ambitions a reality. For many of our high-income clients we may set a long-term savings target as high as 35% of their gross income. Consider automated savings options like investing in a future opportunity fund or making automatic transfers to build up your travel savings account. Review your progress frequently and make any necessary adjustments.
Track Your Progress
To maintain motivation and confirm that you’re on track to meet your financial goals, it’s critical to monitor and evaluate your progress.
Start by using tools that make tracking your finances easier and more efficient. Budgeting apps, like Monarch Money or YNAB (You Need a Budget), can help you stay on top of your spending and savings goals by categorizing your expenses and providing real-time updates. You can utilize other tools such as online financial software like our Personal Financial Website for a more comprehensive view—link your bank, credit card, and investment accounts all in one place. If you prefer a hands-on approach, a customized spreadsheet can also be an excellent tool for tracking cash flow, net worth, and financial milestones.
In addition to leveraging these tools, plan frequent check-ins with your partner and schedule recurring meetings with your financial advisor. These meetings provide an opportunity to review your progress, resolve any issues, and adjust your plan as needed.
Lastly, understanding your overall financial health requires keeping an eye on your cash flow and net worth. Regularly review your bank and investment account statements to monitor the growth of your assets and liabilities. Consider creating personal financial statements annually to establish specific metrics you can compare against year after year.
Need Help?
As a brand-new year unfolds, you have a great opportunity to take control of your financial future. But you don’t have to do it alone.
As a comprehensive, independent advisory firm, Beyond Wealth offers an array of services for high-income individuals to help tackle all aspects of your financial life.
Our dedicated team believes wealth management should mean more than growing your wealth. It should mean empowering you to live your ideal life. We would be honored to partner with you to go beyond wealth.
As the brand-new year unfolds, you have a great opportunity to realign your actions with your 2025 financial vision. If you are ready for a 2025 financial plan refresh, don’t hesitate to reach out and schedule a time to meet! Call (913) 871-7980 or email andrew@beyond-wealth.com to get started. We look forward to speaking with you!
About Andrew
Andrew Comstock, CFA® is Principal & Wealth Advisor at Beyond Wealth, a fiduciary financial advisory firm in Overland Park, Kansas, dedicated to empowering clients to make impactful financial decisions. Serving the Kansas City metro area, Beyond Wealth specializes in helping mid-career professionals and business owners navigate life transitions. With a mission to provide comprehensive wealth management services, Andrew’s proficiency lies in leveraging his background in institutional investment management to create tailored investment strategies. He provides research-driven portfolio management, focusing on helping clients build wealth for key milestones, whether it’s buying their forever home, purchasing a business, or funding their children’s education. Alongside Brandy, Andrew combines comprehensive planning with a long-term investment approach, helping clients grow their wealth while enjoying life.
Andrew began his career in institutional investment management, managing portfolios for insurance companies, pension funds, and mutual funds. Inspired by a desire to make a more personal impact, he transitioned to advising individuals directly, bringing his passion for financial empowerment to Beyond Wealth. Known for his commitment to high standards and always seeking to grow and discover, Andrew is dedicated to delivering thoughtful, tailored strategies for his clients’ unique financial needs.
Andrew graduated from the University of Tulsa with a BSBA in Finance and obtained the Chartered Financial Analyst® designation. Active within his professional community, he’s a member of the CFA Institute, Kansas City CFA Society, and the Overland Park Rotary Club. Andrew is a past president of his Rotary club, served on the University of Tulsa’s Board of Trustees, and was the National Board President of the Alumni Association at TU. He is the Investment Chair for the Catholic Foundation of Northeast Kansas. Outside of work, Andrew is a devoted Chiefs, Royals, Sporting KC, and Everton fan who loves exploring KC’s vibrant restaurant scene, especially the BBQ hotspots. With dual citizenship in the U.S. and Ireland and experience living in Switzerland, he’s an avid traveler who’s visited 37 countries and counting. Andrew is also a proud cancer survivor, a perspective that reinforces his commitment to helping families feel confident about their financial futures while embracing the present. To learn more about Andrew, connect with him on LinkedIn.