{"id":11092,"date":"2023-02-24T09:39:59","date_gmt":"2023-02-23T23:09:59","guid":{"rendered":"https:\/\/jigsawprivatewealth.com.au\/?p=11092"},"modified":"2023-02-24T09:42:19","modified_gmt":"2023-02-23T23:12:19","slug":"artificial-finish-lines-could-be-holding-you-back-from-living-your-best-life","status":"publish","type":"post","link":"https:\/\/jigsawprivatewealth.com.au\/artificial-finish-lines-could-be-holding-you-back-from-living-your-best-life\/","title":{"rendered":"Artificial finish lines could be holding you back from living your best life\u2026"},"content":{"rendered":"

From time to time the question of when are you going to retire is flipped onto me\u2026<\/span><\/p>\n

Generally, I\u2019m not prepared for this question. For one, I\u2019ve never really thought of retirement.<\/span><\/p>\n

Maybe, just maybe a sliding doors moment could have changed all that.<\/span><\/p>\n

You see, 7 years ago I was struggling big time. I loved the work I did. I loved working with my clients.<\/span><\/p>\n

But the environment I faced on a daily basis nearly drove me to breaking point.<\/span><\/p>\n

Back then, I was a partner in a large financial planning practice. We\u2019d come out of one of the most challenging periods of my career. The Global Financial Crisis\u2026it’s a distant memory now.<\/span><\/p>\n

By this stage, the planners in the business including myself were looking to take the business to the next level. We had big plans\u2026<\/span><\/p>\n

However, the general manager and the licensee at the time (who owned part of the business) were not on board. The general manager became a muppet on a string for the licensee.<\/span><\/p>\n

Not only that. The pressure was on to put the licensee interests and profit before clients interests. Yes, it was one of the big banks. Something I had to fight each and every day to remain focused on what was best for my clients.<\/span><\/p>\n

This was so far off my moral compass.<\/span><\/p>\n

I struggled to motivate myself in this toxic environment.<\/span><\/p>\n

It took its toll, mentally and physically.<\/span><\/p>\n

Until one day, I made a decision I\u2019d had enough and decided to exit the business. That was messy and stressful in itself and a story for another day.<\/span><\/p>\n

All with no job and no business to go to. You could say I took a leap of faith\u2026lucky to have 3 months to sort it.<\/span><\/p>\n

At the time I had a number of discussions going to partner with other people, however, for various reasons they all fell through.<\/span><\/p>\n

I was faced with my biggest fear\u2026starting my own financial planning business with no clients. A business solely focused on helping clients live their best lives. Free from conflicts.<\/span><\/p>\n

Gotta say, it wasn\u2019t easy\u2026<\/span><\/p>\n

It wasn\u2019t until a frank and open discussion with one of my long term clients, I realised what a bad spot I had been. While I thought I\u2019d put on a brace face. They noticed something was not quite right and noticed how stressed I was.<\/span><\/p>\n

That was seven years ago\u2026<\/span><\/p>\n

While I\u2019m still taking on new clients and have room for more. There will be a time where I stop taking on new clients. All of whom are either within seven years of retirement or retired.<\/span><\/p>\n

While I may not enjoy every aspect of my job (i.e. the endless paperwork and legislation). I wouldn’t have it any other way.<\/span><\/p>\n

Now, I work around my life. Have no one telling me how to do things. Don\u2019t wear a suit. Work with the clients I love. Attend nearly every sporting and school event my kids participate in.<\/span><\/p>\n

Home in the mornings when they leave and sit down and have dinner with them every night.<\/span><\/p>\n

Take time off when I need to\u2026<\/span><\/p>\n

All the while keeping my clients on the right path to live their best lives free from money worries.<\/span><\/p>\n

Reflecting on that question of when I will retire\u2026<\/span><\/p>\n

I\u2019m not sure I\u2019ll retire.<\/span><\/p>\n

Sure, life might look a little different. At this stage I love my work and my clients who to be honest are like my extended family who I love working with. <\/span><\/p>\n

Maybe I\u2019ll work with a lower number of clients when I hit my 60\u2019s. Who knows\u2026that still a while down the road.<\/span><\/p>\n

However, if I had been stuck in the toxic environment of my previous practice. Maybe that answer would be much, much different.<\/span><\/p>\n

I don’t write this to brag…that’s not my style. I want to show you that by making conscious decisions there’s no reason artificial finish lines should get in the way of you living your life your way.<\/p>\n

The trap of the artificial finish line\u2026<\/b><\/h3>\n

When I ask people when they want to retire. Age 65 and age 67 are commonplace. It\u2019s a line in the sand for many.<\/span><\/p>\n

It\u2019s an artificial finish line.<\/span><\/p>\n

No one is born with a stamp on their forehead with an expiry date on them. Nor do you get given an envelope with the date you\u2019ll exit this world.<\/span><\/p>\n

You and only you have the right to decide when you exit the rat race\u2026<\/span><\/p>\n

Sure, some are forced into retirement due to health. Others don\u2019t like the circumstances they find themselves in. For them the only solution is to quit working.<\/span><\/p>\n

However, if you enjoy the work you are doing and get satisfaction from it. You should do it for as long as you want.<\/span><\/p>\n

We find speaking to many people on a daily basis, it\u2019s not so much about quitting. But creating more time freedom for other enjoyable things in life.<\/span><\/p>\n

Don\u2019t let the artificial finish line get in the way of living your best life now\u2026<\/span><\/p>\n

Retire to something, not from something\u2026<\/b><\/h3>\n

Work provides a sense of purpose, identity, meaning and self worth. It\u2019s who you are.<\/span><\/p>\n

Gone are the days where you retire, live out five to ten years and then die.<\/span><\/p>\n

Retirements of today could last 20, 30 or even 40 years for some. That\u2019s a lot of time to be sitting around twiddling your thumbs.<\/span><\/p>\n

In some respects the idea of retirement is floored\u2026for many they don\u2019t enjoy the work.<\/span><\/p>\n

The only reason they’re working is simple\u2026they need the money.<\/span><\/p>\n

Why do they need the money?<\/span><\/p>\n

To someday retire at age 65 or 67 and do what they want\u2026the retirement dream.<\/span><\/p>\n

Sadly many are not on the track they want to run\u2026<\/span><\/p>\n

Marc Eisenson in his book \u201c<\/span>Invest in Yourself: six secrets to a Rich Life\u201d<\/b> said:<\/span><\/p>\n

\u201c<\/span>Once we become adults, we often lose track of life\u2019s simple pleasures and our own personal goals. We take a wrong turn or two, then spend a good part of our lives doing things we\u2019d rather not – while not doing many things we\u2019d enjoy. While many obsess about how unhappy we are, we don\u2019t focus clearly on what we can do to change the situation: on how we can invest our time, energy and, yes, our money to consciously create the life we want.<\/i><\/strong>\u201d<\/span><\/p>\n

That leaves two cohorts of people who need to rethink their plans if they want to retire at age 65 or 67.<\/span><\/p>\n

Ones who can\u2019t afford to retire and those that can afford to retire.<\/span><\/p>\n

We all have 168 hours in the week\u2026how are you going to fill your days.<\/span><\/p>\n

More and more we\u2019re seeing the changing landscape of retirement or life after work. The pandemic was a BIG<\/strong> contributor to this.<\/span><\/p>\n

In the last couple of years we\u2019ve been having more and more discussions with people around their environment. Seeing people around them falling ill or suffering a major health shock.<\/span><\/p>\n

The realisation that time is short\u2026<\/span><\/p>\n

In some cases, it\u2019s a wakeup call\u2026let\u2019s do things now while we\u2019re fit and able cohort.<\/span><\/p>\n

It\u2019s not defined by an artificial finish line\u2026but a need to get on with living life before it\u2019s too late.<\/span><\/p>\n

YOU NEED A PLAN TO MAKE THIS A REALITY\u2026<\/span><\/p>\n

Life\u2019s not a rehearsal\u2026<\/b><\/h3>\n

I\u2019m reminded of this through conversations on a daily basis.<\/span><\/p>\n

A couple where the husband suffered a heart attack. Loves his work. Now wants time to pursue his personal interests in hiking, paddle boarding, mountain bike riding and travel around the country.<\/span><\/p>\n

They want confidence that they can cut back on work without leaving them financially short.<\/span><\/p>\n

We\u2019re working with them to design a plan to make that happen.<\/span><\/p>\n

Another couple we started working with a couple of years ago. Planned on working for a couple more years.<\/span><\/p>\n

As we explored their financial options, they decided to bring their retirement forward. Realising they may not have forever and wanted to start their BIG<\/strong> lap adventure sooner rather than later.<\/span><\/p>\n

I could go on and on\u2026<\/span><\/p>\n

Either way, for some this involves working for longer. Albeit in reduced capacity. For some, it\u2019s a change of employment.<\/span><\/p>\n

For others, it\u2019s complete cold turkey\u2026everyone’s unique in their views and reasons for working or not.<\/span><\/p>\n

But in all cases, they are clear on what they want to achieve post work.<\/span><\/p>\n

Slide into your grave with a BIG smile on your face\u2026<\/b><\/h3>\n

That\u2019s right\u2026we\u2019re not here forever\u2026enjoy every precious moment you can.<\/span><\/p>\n

\u00a0Life\u2019s meant to be an adventure\u2026something to be enjoyed.<\/span><\/p>\n

I was only having a discussion with a new client the other day. Mapping out what was important to them\u2026<\/span><\/p>\n

Being active and healthy\u2026helping others\u2026travel\u2026spending more time with people close to them and nurturing relationships.<\/span><\/p>\n

Note, there’s nothing about money in there\u2026<\/span><\/p>\n

Yes you need money to fund that, it’s what the money’s for.<\/span><\/p>\n

As I said to them, we want you to slide into your grave with one massive <\/span>SMILE<\/b> on your face. Saying <\/span>WOW<\/b>, that was one hell of a ride.<\/span><\/p>\n

Far too many people leave their planning for living life far too late. Don\u2019t procrastinate any longer.<\/span><\/p>\n

Book your Retirement Clarity Call here<\/a><\/span><\/strong> and start planning your best life before it\u2019s too late.<\/span><\/p>\n