Sorry, you’re telling me to spend more money…

There I was in a client meeting discussing with James and Cindy their travel plans.  They were in there late 60’s and had been retired for some time.

They had been farmers all their life, sold up and retired.  

Initially, it was difficult for them to adjust in the first few years, not only with the fact their lifestyle had changed completely but now they had to rely on their financial resources for the rest of their lives.

They went from relying on the income from the farm to getting used to living off their investments, a monthly income payment rather than just taking money from their bank account. 

It took a little getting used too.

Not knowing much about investments (as all their money had been held in farming land), they hadn’t been exposed to investing previously. Now they had to rely on their financial resources to fund their lifestyle.

Being very nervous and cautious, like most, they didn’t want to make any mistakes, nor lose any of their money.

They had more than enough to see them through and leave a legacy to their kids.

Since being retired they had traveled extensively through outback Australia and overseas.  They had plenty more adventures planned.

However, some of their comments about their long haul flights were raising some red flags.  As we get that little older it’s harder to recover and adjust on longer trips across the globe. 

Given they had always gone cattle class, they were starting to find it harder and harder.

They had always been very careful with their money and didn’t like wasting it on unnecessary things.

So, I put an idea to them.  

If you love your travel so much, why don’t you spend the extra money and treat yourself to business class flights?

They looked at each other and then back to me with a surprised look on their face. 

But that’s a waste of money isn’t it and we can’t afford to do that, they responded.

After a short pause, they looked at me and said well we do like our travel and there are a number of long haul trips we’d still like to do and it would make it a little easier but can we really afford it, they asked.

As we do at all our regular progress meetings, we prepare the numbers based on their lifestyle.  We know the exact amount our clients require to fund their lifestyle and what they have to play with.

As we started running through their numbers, they became more comfortable with the idea of spending more to enjoy and experience more.

After treating themselves to business class flights on their next trip, they came back to me and said it really helped while making their trip that little more enjoyable.
We won’t be able to go back now, they told me at our next meeting.

Since then they have continued to travel extensively overseas and are continually thinking up new destinations to experience.

There is a general fear that making the decision to see an adviser, means you’re going to have to cut back, make sacrifices and in some cases face the mistakes you’ve made in the past.

After all, it’s all about saving & investing right?

This couldn’t be further from the truth.

While we advocate responsible spending, particularly on the things that matter most to you, it’s all about finding that balance.

We spend a significant amount of time with our clients discussing what they really value, which in the main comes down to experiences they want.

In the end, we could have all the material things in the world and still not be happy.  So why not use the financial resources you have to make it the best life possible.

Our focus is not completely on saving, although an important component, it’s all about helping our clients make the most of the financial resources they have to live the best life possible.

Sometimes that involves us helping our clients make decisions on where they can spend more to enjoy more.

And if you’re up for it, want to explore what’s possible for your retirement years (maybe even dream a little more) and make it a reality, book a Confident Retirement Call here now.  We’ll jump on the phone for 30 mins, help you work out what’s possible and even provide a game plan you can take away and implement all at our cost.

Click here to book you’re no obligation Confident Retirement Call here>>

Either way, have a think about how you can include more experiences into your current and future lifestyle while being financially responsible.


Make it a Great Retirement!

Challenging the Status Quo!

Glenn Doherty – CFP – Founder & Financial Organiser at Jigsaw Private Wealth

Advice Disclaimer: Any reference in this publication to the provision of advice refers to advice of a generic nature, and should not be taken as product or investment recommendations. Before any action is taken based on the information provided, independent financial advice from a licensed financial adviser should be sought.  Financial Freedom Project Pty Ltd ATF GA & DC Doherty Family Trust Trading as Jigsaw Private Wealth is a Corporate Authorised Representative of Exelsuper Advice Pty Ltd.  The information contained in this publication is of a factual nature only and is not intended to constitute financial product advice. Information is current as at June 2018. This is an online information blog. It does not imply an offering of securities.

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