Ignore planning your retirement at your peril: 3 reasons you can’t wait one more day…
They say money can’t buy happiness.
Being broke, I’d imagine, would be miserable and not ideal either…
For argument’s sake, let’s say you want to at least retire on the same level of income you are on now.
What are you doing now to reduce the risk that you’ll at least retire on the same income that you are on now?
Time is a precious resource…we can’t buy more time…everyone has 168 hours in the week.
But more than ever, we’re busier than ever. That means things like planning for your retirement gets put to one side.
You’ll look at it another time…when you have time…
Time which does not come.
It doesn’t help that it’s a complex thing to work out.
Ignoring or putting off planning your retirement can be financially damaging…
If you’re in your 50’s or 60’s, you’re on the home stretch. Every decision you make between now and your retirement will either harm you or help you.
Now is not the time to put off planning for your retirement. What you do now matters…it’s the difference between having enough money or running out of money.
You don’t want to risk running out of money…
You definitely don’t want to risk not being able to live the lifestyle you want in retirement. After many years of saving so hard during your working years.
No one wants to put their retirement at risk but many unknowingly have…
Procrastination is a disease eating away at your retirement dreams…
She’ll be right…it will work out…it can wait.
It can’t wait…
Anyone who thinks it will sort itself out is kidding themselves. If you’re putting off planning your retirement…it’s time to get off the procrastination train.
Every minute…everyday…every year you put your retirement planning on the backburner. You put your retirement lifestyle at extreme risk.
Procrastination is costing you BIG time…it’s costing you money…it’s costing you more adventures in retirement.
You risk arriving at retirement only to find you’ll have to live on less than you were when you were working.
Do you know what this means?
It means the risk of running out of money increases…
It means when you have more time…you don’t have the money to enjoy it.
It means you end up regretting not doing more…when you could have.
Everyday you don’t have a plan…is less money you’ll have during retirement.
It’s time to get yourself organised…get a plan…plug those leaking holes in your financial bucket.
Good enough traps you…
There is a growing cohort of people who have got themselves into a sound position financially. They say that’s “good enough” and leave it at that.
The “GOOD ENOUGH” line sucks you into the myth that “We’re doing okay and okay is good enough”.
The truth is that it traps you…good enough is not pandemic proof…good enough is not recession proof.
What if Steve Jobs and Apple had created the iPod and then said, “well that’s good enough” – another company would have created the iPhone and iPad and Apple would not have become the greatest company in the world.
Think about it another way, what if you were buying a product or service and the company selling to you said “we’re going to try and do a good enough job” … how would you feel about that?
Once you understand the power of “good enough traps you”…everything changes for you.
Risks increase…
Everyday that passes and you don’t address the “ELEPHANT” in the room is more risk you take on…
The risk that you won’t have “ENOUGH” money at retirement…
That you take on more risk than you needed too…
The risk that your investment portfolio/super is not going to support your retirement lifestyle the way you’d thought…
The risk that an unforeseen event will shatter your retirement dreams…
You risk running out of money…
The risks are very real…we see it time and time again.
They are “BLINDSPOTS” that everyone has…
They are hiding in the shadows ready to pounce and derail your retirement plan…when you least expect it.
Life is not a rehearsal…
A colleague of mine, Paul Armson, author of “ENOUGH?” shares a personal story in his book about his father.
Paul’s father spent years working long hours…telling his wife he was doing it for them…constantly telling her “when I’m retired we’ll have plenty of time”.
Sadly one day, when Paul’s mother was aged 59, his father while at work received a tap on the shoulder.
Only to be told “you better get home fast, something’s happened to your wife”…
Sadly, by the time Paul’s father got home, his wife…Paul’s mum…was dead.
Gone..at age 59.
Paul’s father’s life fell apart…now in his 90’s his life is full of regret…
A life of “if only…?”
“If only he’d spent more time with his wife, if only he’d been there for her…”, “She loved her flowers…if only I’d bought her more flowers…”
“If only…”, “If only…” “If only…”
But it’s all too late…
Life is not a rehearsal…
Sadly many put off what they can do today…
You only get one shot at it.
With the right guidance you can achieve a balance between having enough money while enjoying what life has to offer…before it’s too late.
In today’s world it seems we are busier than ever…which means for most there’s never enough time to get around to planning your retirement.
If you plan on doing it yourself…it will take longer…you may make some costly mistakes along the way.
If you never get started, you’ll never achieve everything you wanted too in life. You’ll never get closer to having enough money to enjoy your retirement adventures…before it’s too late…
If you’re open to it…let’s have a quick chat where we’ll help you identify your gaps…identify your risks and give you a roadmap to keep the lifestyle you have.
Schedule your complimentary call here…
Glenn Doherty – CFP – Retirement Planning Specialist | Retirement Planning Made Simple for Over 55’s powered by Life-Centred Financial Planning
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