Will You Retire On Your Own Terms?
We think it’s fair to say that most of us look forward to one day being able to put our feet up and retire. After all, who doesn’t enjoy a long weekend or being on holidays? Imagine when every day is a day off work!
Our question to you is this: Will you get to retire with the lifestyle you want to enjoy?
If so, that takes planning! And as financial educators (with masses of experience advising people on this stuff for decades), it’s our job to help people make plans, implement those plans, and reap the rewards down the track.
Most people never really get started when it comes to financial planning. The closest most people will get is a mad dash to try and put a few dollars away in the last few years of work. Most people also retire and have to reduce their lifestyle when they get to that point because they did not put a plan in place to set them up for the retirement they would have wanted. It is a huge price to pay from not taking action. After all, hope is not a plan.
The fact is that getting paid on a regular basis lulls us into a false sense of security. Every fortnight (for some people they get paid weekly or monthly) our bank account gets topped up with cash from our pay. Works pretty well… until it comes time to retire and then we have to start paying ourselves. If we haven’t done what needed to be done during our working lives, we end up in a situation where we simply don’t have the resources to keep paying ourselves at the same level. That usually results in one of two outcomes. Firstly, people may keep spending as they did while they were working and find they run out of money quickly, or secondly, people have to reduce their lifestyle to ensure their money will last… right at the point in their lives where they have all the time in the world to be enjoying lifestyle.
Neither is a good result!
Years ago we heard it put very well: When we retire we get to start full-time living!
Don’t let the chance slip through your fingers to have the retirement you deserve. Get started NOW and start mapping out a plan for your long-term financial future, so that years from now you can sit back and be thankful you did. After all, the biggest regret of people over the age of 65 is that they didn’t save more for retirement. Additionally, the biggest fear of retirees is running out of money. A well-thought-out financial plan can take care of both issues.
The biggest thing to point out here is that it’s nowhere near as hard as you might think. You don’t have to live on baked beans to get your money working a lot harder. We often think one of biggest challenges is simply that people don’t know what they don’t know. So, now is the time to get clued up on how you are tracking and what you can be doing to get ahead. And VOILA, everything you need is waiting for you in the Wages to Wealth program.
As we already move towards the end of the financial year, don’t let 2024 be another year that slips through your fingers without a solid financial plan in place.
Independent financial advice and education is staring you in the face.
Planning to retire on your own terms isn't something you should put off, because the more time you give yourself to prepare, the easier it is!
This is one area of life where good things don’t come to those who wait.
Cheers,
Dan and Dave
