Whatever a fulfilled life means to you, it is likely to be more enjoyable if you are not worrying about having enough money. In retirement, this can be a big emotional drain, unless you take control and make informed decisions.
For many people, the first 10 to 20 years of retirement are likely to be the most active. You have your health and the energy to devote to those things that make you happy. Often, this active period of retirement can prove to be relatively expensive as you try to cram in all the things you never found time for when you were working. Hopefully your mortgage has been repaid and the bank of mum and dad is called on less frequently, but those long-haul holidays, days out with the grandchildren, that special birthday, all add up and if you don’t take control the feelings of insecurity you can experience become overwhelming.
Financial Life Planning can help you uncover the things in life that leave you feeling fulfilled. If not now, then when? Creating a life that makes you and your partner happy should not be left to chance. It’s so easy to just carry on doing what you’ve done in the past without considering what else there is. Once you take time out to discover what this might mean to you, decisions around money become much clearer. Cashflow modelling can help you look at your financial future and give you peace of mind in knowing that you are going to be okay. That you will have enough to lead the life you want without the fear of ever running out of money.
Planning your financial future also allows you to consider how you might cope if the unexpected happens and to plan your legacy if all goes according to plan.
Giving yourself permission to spend can be difficult for many people who have been careful all their lives. Cashflow modelling can help you understand that you can afford to have things and do things and still be okay. Many people put off spending in retirement as they are not sure if they will have enough money for what their unknown future holds. Take control, create a plan that works for you, have fun and enjoy the peace of mind that comes from knowing that you are going to be okay!
