Unlocking a Comfortable Retirement: The Three C’s Revealed

As retirement nears, many face a mix of anxiety and uncertainty about this new chapter.

What does life after work hold for me? How will it reshape your daily experience?

Fearful about their financial security. The constant worry about whether you’ll be okay and concerns about whether you will run out of money in retirement.

Maybe you’re feeling this way…

They are all common feelings that with a little planning can be overcome. You can turn uncertainty into excitement and confidence about your retirement journey to come.

The three C’s of retirement will help you gain clarity about your options and opportunities as you approach these exciting years of your life.

This framework is exactly how we help people retire with clarity and confidence which leaves them in control of their retirement destiny…

#1 Clarity – What do I want my best life to look like?

Walt Disney once said, “when your values are clear, your decisions are easy”.

In a world overflowing with information, it’s easy to lose sight of what truly matters to you in retirement.

This leads to a  lot of confusion around what is the best actions you should be taking. You end up spinning your wheels going nowhere.

It’s no wonder many struggle when it comes to putting together their own roadmap.

One of the first steps our clients go through is a values card game. It is designed to align what’s most important to you with the decisions you make about your money.

You heard it, it’s not boring people to death with investment jargon, investments or strategies. It’s about what your best life looks like to you.

Take Jack and Jane, for example, a couple we recently worked with. One of their top priorities was to spend without guilt. They were afraid to spend their money, fearing one day they would run out.

Not addressed, this could lead to regret later on in life. Looking back, thinking if only I had known, I could have done more. Taking more holidays, spending more freely or helping kids out more when they needed to name a few.

Vague planning often paves the way for later-life regrets about missed opportunities and unfulfilled dreams with the precious time you had.

#2 Confidence – Can I afford to live that life?

For many soon to be retirees, their foremost fear is running out of money. Underspending in their most active years of retirement for fear they will not be able to afford their lifestyle later on in life.

They hold back on their spending in their most active years of retirement fearing if they spend more they will run out of money.

This fear is real and leads to instability in retirement.

Not only is it important to have clarity around what your best life looks like, but can you afford to live that lifestyle?

Before diving into the more enticing aspects of retirement planning – like investments and strategies – it’s crucial to first assess if your dreams align with financial reality. To know if your retirement plan is realistic.

Consider Harry and Kylie, who dreamed of escaping the relentless rat race.

They were in high stress jobs…it was now taking it’s toll. Wanting to know when they would be in a financial position to be able to unshackle themselves from working for the man.

They had saved hard through their working years. After running their current situation, unfortunately for Harry and Kylie they were not in a financial position to retire.

However, they did have a number of options. To persevere with their current roles for a little longer. They were not adverse to working. Alternatively, they could take on less stressful work and work for longer until they were in a position to afford the retirement lifestyle they wanted.

Had they embarked on this planning journey five years earlier, retirement would not have been a dream but today’s reality.

One of the most costly mistakes we see people make is waiting too long. In fact there’s one phrase I’ve never heard from a client in over 20 years of helping people plan their retirement, EVER. They’ve never said “I should have waited longer to do this”.

#3 Control – How can I protect myself from life’s surprises?

Life’s unexpected twists can upend even the most meticulously crafted plans, often leaving a trail of helplessness.

It could be the loss of a loved one, a health issue, investment markets crashing or a pandemic.

While there are some events that are out of your control, you can prepare yourself financially to ride life’s uncertainties.

#1 Spending – the ability to adjust based on what phase of life you are in and what you spend your money on.

#2 Saving – how much money you dedicate to the achievement of your financial goals.

#3 Timing – when do you want the actual thing to occur, i.e. retire.

#4 Risk – how much movement in your investments can you tolerate based on your timeframes. Critical for sequencing risk as you approach retirement.

#5 Legacy – the amount you want to leave for the next generation or how much you help while alive by giving with a warm hand rather than a cold one.

To combat this helplessness, the three C’s form the cornerstone of the solutions we craft with our clients. Ultimately helping them to answer the BIG question, “Will we be okay in retirement?”.

Time is not on your side. There is no second chance. Don’t risk waiting a few more years to look back and realise, “I should have done something earlier”.

Having clarity on what your best life looks like, confidence that you can afford your plan and knowing the areas of your financial life that you can control will help you relieve the stress of whether you’ll be okay in retirement.

Are you prepared to seize control of your future, armed with the clarity and the confidence you need and deserve?

Embarking on your retirement journey doesn’t have to be daunting. With the right guidance, it can be an exciting new chapter.

Ready to secure your future? Book your Retirement Clarity Call by clicking here and embark on a retirement journey tailored just for you.

Glenn Doherty – CFP – Financial Planner | Retirement Planning Made Simple for aspiring grey nomads and avid travellers within 7 years of retirement 

We work with people in Adelaide and around Australia via virtual meetings!

Request a Retirement Clarity Call

An opportunity to talk through some of your challenges and questions you have around your retirement.

Achieve some clarity and maybe a roadmap on how you can achieve a comfortable retirement.

Schedule here

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 date of publication. This is an online information blog. It does not imply an offering of securities.