Want a “GREAT” Retirement?
So, you want a Great Retirement? After all, who dosn’t? You’ve worked long and hard for it.
The day where you have more time freedom whether you decide to fully retire or the opportunity to reinvent yourself.
A Retirement where you create new experiences, holiday when you want, spend more time with family, more time to spend on hobbies, maybe even start a new interest or even give back to the community to name a few.
These activities and interests form part of a great Retirement.
But if this is what we want are we really asking the right questions to plan and achieve that GREAT Retirement?
Quite often I have new clients come in and ask these questions:-
Should I start a Self Managed Super Fund?
What shares should I buy?
Which super fund should I use?
Should I buy an investment property?
What should my investment strategy be?
Hey Glenn, what are investment markets going to do?
While these are all great questions and form an important part of your plan, they are what we call tactics.
Pretty much the whole finance industry and media want us to stay in tactical mode.
Why? If you look at the link with all the questions, they relate to transactions.
Just think of any recent financial advertising you might have seen.
Our super fund has done 9% pa for the last 10yrs. Invest in our super fund.
The market’s going to tank, buy gold.
You need to manage your own money. Start a Self Managed Super Fund. We can help you with that.
Notice something about these statements? They are all leading to transactions.
Now while tactics are important and can really help move the dial when it comes to your Retirement, it’s not the place we should be starting.
Starting with the tactics is a little like opening the toolbox without knowing what tools you need for the job.
Not your parent’s Retirement…
The modern Retirement is different than your parents.
We are living longer.
We are going to spend more money in Retirement and be more active in retirement than any generation that has gone before you.
The modern retirement requires a more dynamic approach, starting with asking the right questions.
Better Questions Lead to a Great Retirement
Thinking about the tactics are usually a result of a pressure point that gets us engaged to seek out the answers to our questions.
After all, we don’t wake up wondering what we need to do next to retire to the lifestyle we aspire too.
The answer to the tactical questions, like what investments should I use, should I start a Self Managed Super Fund, in my experience, are pretty easy to determine IF you’ve done the groundwork first on what it is you are trying to achieve.
So before opening the toolbox, we need to look at the design phase first so we know what tools are required for the job.
I like to use the analogy of building a house.
You’re building a house. That’s the first strategic decision you’re making. You’re building a house.
The next big decision is what do you want the house to look like.
Are we building a single story or two story house?
Do you want 3 bedrooms or 5 bedrooms?
Are you building with double brick or brick veneer?
Is it a family friendly home or low maintenance?
These bigger questions need to be defined and answered at the start, prior to opening the toolbox.
As you work through these questions, the plans start to form, the picture becomes real.
Then you work your way down to the tactical questions. You then know what tools you need for the job.
Do I need a hammer or a screwdriver?
When it comes to your Retirement, start with a blank piece of paper and DREAM BIG. Once you have an outline you can always negotiate things into your Retirement or out of your Retirement.
Your Retirement could seem some time away, 5 years, 10 years or even longer. It can be difficult to plan that far ahead. You have so much demanding your attention now.
While it’s great to know where you are heading, to get meaningful results it’s important to look a little shorter out. For instance, what needs to happen in the next 12mths, and the next 3 years.
Break it down into smaller chunks and you’ll have a greater chance of success.
If you need some help with this, feel free to book in for a complimentary Confident Retirement Call here>> You’ll walk away with your own personalised Confident Retirement Gameplan.
What if you are struggling to answer these questions?
Sometimes dreaming up your DREAM Retirement can be challenging. I get it, life is busy, there is so much more requiring your attention.
Based on my experience, many leave it too late, leave too much on the table and in a lot of cases settle for something less when it could have been something more.
At times all you need is better questions to ask.
Here are some of the questions you could use to be more intentional about the decisions you are making in relation to your Retirement.
#1 If I knew the answer, hypothetically, what would it be?
It’s important to add hypothetical to the question. That way you get to think big and are not committed to it. You’ll find the answer becomes clearer without the risk of being tied to answer.
#2 What would my 90-year-old self want me to do?
A great question to reflect on what your older self would think. If you’re sitting there in your rocking chair on your veranda, what would you be saying to your younger self?
#3 Do I still want this?
Life changes at a rapid rate. What you wanted five years ago may not be something you want now. It’s important to constantly question is this still what you want.
#4 What does this make possible?
A great question to think deeply about what you want. If you go down a certain track, what does it make possible?
#5 How does this help me towards my goal?
Is a certain action going to take you away from a certain goal or aspiration or bring you closer? If anything it’ll certainly help you work out whether your decision is intentional and moving you either closer or further away from what you want.
#6 What can I do next?
What’s the next step you need to take to move you closer to your goal or aspiration.
It’s critical that you get out of the tactical questions and answer the questions that are going to help you make intentional decisions. The ones that are going to actually move you towards a GREAT Retirement.
PS. Sitting there wondering whether you’ll be ok in Retirement?
Maybe you’re wondering whether you will run out of Money in Retirement.
Do you know if you’ll have enough to maintain your lifestyle in Retirement?
We are offering a limited number of Confident Retirement Calls (worth $350, complimentary to you as a valued reader of our blog) where we will answer all those questions for you. We’ll even provide it all and more in a short report for you so you can feel Confident about the future.
Jump on one of our Confident Retirement Call’s where we’ll help you answer all the questions you have about your Retirement.
Book your Confident Retirement Call now!
Make it a great Life!
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.