Every week I share a few of the questions and topics we covered with clients, hopefully offering a small insight into what we do and how we help our clients.
Here is a glimpse of last weeks conversations.
🌲 We set up a private school fee plan for a client with the aim of making the funds last well beyond A Levels.
🌲 We reviewed a cashflow model plan to reflect a change in circumstances for a couple on the verge of retirement. Their main question was "can we still have the retirement we want if we retire earlier than planned?"
🌲 We had a good conversation with a client who shared their concerns about what happens if they lose their job, and how do they cover their income if they were to get long term sick. This 'what if' planning is something we cover with all clients and goes a long way to ensuring financial peace of mind.
Have a great week! ☀️
#People#leadership#empathy#listening#financialadvice#wellness#wellbeing#teamwork#culture#planning#financialwellbeing#cashflow#cashflowmodelling#cashflowanalysis#savingsgoals#retirementplanning#moneymanagement#financialfreedom
Financial Planner | I help Individuals & Business Owners Plan Efficiently to Improve, Maintain and Preserve Their Current & Future Lifestyle Through Tailored Financial Planning
“If you do your job properly, you will change people’s life’s”
…Is what I was told and continue to be told by my mentor.
I can safely say I can resonate with that now. After seeing numerous clients, whether that be initial meetings, reviews etc…
I can see that most people struggle to understand what is possible.🤷🏻♂️
They limit themselves on things like being unable to retire until they reach state pension age or hang off spending some of their hard earned money on buying that car or going on that once in a lifetime trip. 🏖️
I recently had a review with a couple this week that would like to retire at 60 (currently 55) but did not know if it was possible.
After my assessment and understanding their specific circumstances, I was able to determine that retirement would be possible now.. ✅
If you feel overwhelmed by figuring out the answer to.. ‘When can I go…’ then it might be a good idea to get advice and get a plan in place.
You’d be surprised what is possible…
#financialplanning#retirementplanning#financialadvice
Preparing for retirement is not just a mathematical question ... "Do I have enough?"
It's also an emotional question ... "What's next for me?"
We can help you prepare financially and mentally for a different life stage.
Years of helping clients transition is why my clients stay with me.
Ask me how?
#retirementplanning#accountants#businessowners#professionals
This is honestly what I’m trying to craft with my career.
A multi-stage life tagged doesn’t look like anyone else’s.
I’ve been weaving this type of thing into my clarity challenge in The Flexible Path. Change that isn’t reflective of what other people are doing is much more challenging. My daughter is noticing with her gap year this year too. The norm is graduate high school, go to university. It’s hard to find other people choosing this path too.
« Now, what's exciting about a multi-stage life, but also frankly makes it more difficult, is that each of us lives our multi-stage life in the way we want to do it. It could be that the age of 30, you decide to take time off for a year and travel the world. But as you look around, there's not that many other people who are going to be doing the same thing. You have to have more of a sense of yourself.
The truth is, the 3-stage life is relatively easy. You don't need to think very much about it, you can just get on and do it, and do it the same way as all your peers do. Multi-stage life, the ask is that you do something that perhaps nobody else in your peer group has done. You become, in other words, a social enterprise, you actually do your own thing, and that takes courage.
The sort of questions that you want to ask yourself is, "What's important to me? What is it that I want to get out of my life? How do I want to live my life?" So there's big questions you need to ask yourself now in order to make the most of the trends that shape our work. »
Happy to share that my interview with Big Think has been transcribed by Firstlinks into an article titled "Let's ditch the idea of retirement". This post marks the first in a series of posts where I will be sharing my most valuable insights.
With each year, life expectancies rise. The thought that you might live to 100 is a possibility, so the idea of retiring in your 60's is becoming outmoded. We need to think about working right the way through our life. To do that, we have to change the way we think about our whole life.
Read the full article here: https://lnkd.in/e23DHKhQ#ditchretirement1#futureofwork#multistagelife
I'm simply not getting a service 😟
I have been reviewing where different parts of my business came from last year
I started working with 5 new clients because they weren't getting a service from their existing adviser
🔴 I haven't seen them for 3 years
🔴 They don't offer proper retirement planning
🔴 I only get a letter once a year, no other communication
These were some of the comments and reasons for them swapping and working with me
If this sounds familiar, do yourself a favour and find someone who can give you a service you deserve.
Do clients approach you for this reason?
#BetterService#FinancialPlanning#MollamWealthManagement
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Founder + Entrepreneur | Future of Work Thought Leader | Senior Accredited Board Director | Business Strategy | People + Work + Place as Competitive Advantage | Executive 'Goto Guru' for Hybrid Work
I completely agree with this great article by Lynda Gratton that there are financial and societal benefits of continuing to blend professional and personal activities in our life as we enter our sixties and even seventies. For some financially secure people this may involve more pro bono work while for others there may be a need to stave off pension drawdowns for as long as possible.
I'm not there yet (I'm only mid fifties😜) and I'm already thinking about next phases of my professional life and the things i want to achieve personally while i am still fit, healthy and relentlessly curious, but I do think there are are a couple of hurdles to the theory of "no retirement" .
Firstly, when business expectations are increasingly for younger c-suite leaders, what do you do after this, what greater heights to scale when you achieved that in your forties?
Business and society is unfortunately biased towards younger achievers (there's something wrong if you're not a seasoned manager or at least associate director by the time you reach 30, whereas my generation were still feeling slightly like frauds and exploring what we wanted to do) so a recalibration of people's value AND a rethink of what professional accomplishment or mastery can look like is needed. Many of us did this years ago and dont hold ourselves to other people's definition of success and strike our own path, but this is far from the norm.
Sesondly, work is increasingly intense, as are our personal lives. While theres a degree of "unplugging" going on with remote and nomadic workers, for the most part most people feel they have to work too hard at both their jobs and at being a good parent, partner, friend and member of their community, all the while being bombarded by social media and a deluge of (often) trivial news and information. The hamster wheel just keeps spinning faster.
If this life is burning out gen z and millennials now, how do we expect people to have the energy and enthusiasm to keep working in their sixties? I know I'm an "energiser bunny" but i dont have the mental or physical stamina i had twenty years ago. Am I wiser and probably more effective now? Of course, but i still need to manage my time and effort more carefully so i continue to love what i do and the people I live and work with.
There are massive societal, business, economic and individual benefits to retaining the experience and wisdom of older workers for as long as possible, however as a society we need to reset our definition of retirement, of professional success and of what a valuable contribution to business and society really is.
Happy to share that my interview with Big Think has been transcribed by Firstlinks into an article titled "Let's ditch the idea of retirement". This post marks the first in a series of posts where I will be sharing my most valuable insights.
With each year, life expectancies rise. The thought that you might live to 100 is a possibility, so the idea of retiring in your 60's is becoming outmoded. We need to think about working right the way through our life. To do that, we have to change the way we think about our whole life.
Read the full article here: https://lnkd.in/e23DHKhQ#ditchretirement1#futureofwork#multistagelife
The latest 𝐁𝐞𝐲𝐨𝐧𝐝 𝐭𝐡𝐞 𝐍𝐮𝐦𝐛𝐞𝐫𝐬 𝐨𝐟 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐋𝐨𝐧𝐠𝐞𝐯𝐢𝐭𝐲 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐍𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫 (No. 95) to keep up with the latest articles, research, and solutions/resources for guiding clients on planning for the non-financial side of their Encore. Click on the graphic to read the newsletter.
💥Articles to 𝐄𝐃𝐔𝐂𝐀𝐓𝐄 & 𝐈𝐍𝐒𝐏𝐈𝐑𝐄:
𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐈𝐬𝐬𝐮𝐞𝐬 𝐀𝐫𝐞 𝐍𝐨𝐭 𝐀𝐥𝐰𝐚𝐲𝐬 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐌𝐨𝐧𝐞𝐲
from Bill Conerly in Forbes
𝐅𝐫𝐚𝐜𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐬 𝐭𝐡𝐞 𝐍𝐞𝐰 𝐅𝐮𝐥𝐥-𝐓𝐢𝐦𝐞: 𝐅𝐥𝐞𝐱𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐢𝐬 𝐭𝐡𝐞 𝐍𝐞𝐰 𝐂𝐮𝐫𝐫𝐞𝐧𝐜𝐲
from 𝗖𝗵𝗿𝗶𝘀 𝗛𝗼 in Inhabit Magazine
𝐀 𝐘𝐨𝐮𝐓𝐮𝐛𝐞𝐫 𝐀𝐬𝐤𝐞𝐝 𝐚 𝐆𝐫𝐨𝐮𝐩 𝐨𝐟 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧𝐬 𝐀𝐠𝐞𝐝 𝟕𝟎 𝐭𝐨 𝟖𝟎 𝐖𝐡𝐚𝐭 𝐓𝐡𝐞𝐢𝐫 𝐁𝐢𝐠𝐠𝐞𝐬𝐭 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐑𝐞𝐠𝐫𝐞𝐭𝐬 𝐖𝐞𝐫𝐞- 𝐇𝐨𝐰 𝐌𝐚𝐧𝐲 𝐀𝐩𝐩𝐥𝐲 𝐭𝐨 𝐘𝐨𝐮?
from 𝗺𝗼𝗻𝗲𝘆𝘄𝗶𝘀𝗲
𝟓 𝐓𝐡𝐢𝐧𝐠𝐬 𝐋𝐨𝐧𝐠𝐞𝐯𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡𝐞𝐫𝐬 𝐃𝐨 𝐄𝐯𝐞𝐫𝐲 𝐃𝐚𝐲 𝐭𝐨 𝐋𝐢𝐯𝐞 𝐋𝐨𝐧𝐠𝐞𝐫 𝐚𝐧𝐝 𝐇𝐞𝐚𝐥𝐭𝐡𝐢𝐞𝐫
from 𝗛𝗲𝗮𝗹𝘁𝗵
💥Research to 𝐆𝐔𝐈𝐃𝐄:
𝐓𝐡𝐞 𝐑𝐞𝐭𝐢𝐫𝐦𝐞𝐧𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐌𝐢𝐝𝐝𝐥𝐞 𝐂𝐥𝐚𝐬𝐬 𝟐𝟒𝐭𝐡 𝐀𝐧𝐧𝐮𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐚𝐦𝐞𝐫𝐢𝐜𝐚 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐒𝐮𝐫𝐯𝐞𝐲
from the 𝐓𝐫𝐚𝐧𝐬𝐚𝐦𝐞𝐫𝐢𝐜𝐚 𝐂𝐞𝐧𝐭𝐞𝐫 𝐟𝐨𝐫 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐒𝐭𝐮𝐝𝐢𝐞𝐬
Authors: Catherine Collinson and Heidi Cho
𝐒𝐮𝐦𝐦𝐚𝐫𝐲: The "𝐇𝐚𝐩𝐩𝐢𝐧𝐞𝐬𝐬, 𝐇𝐞𝐚𝐥𝐭𝐡𝐲 𝐀𝐠𝐢𝐧𝐠, 𝐚𝐧𝐝 𝐋𝐨𝐧𝐠𝐞𝐯𝐢𝐭𝐲" section of the study focuses on the importance of well-being for successful retirement. It highlights that maintaining social connections, physical activity, and financial security are key contributors to a happier, longer, and healthier life as individuals age.
In the newsletter I share four key highlights from this section- a section of the survey that looks at the non-financial aspects of life after retirement.
💥Solutions and Resources to 𝐂𝐎𝐍𝐍𝐄𝐂𝐓:
I share three recently released books that financial advisors (and anyone planning their retirement) will find informative.
They examine the topics of a successful and fulfilling retirement, longevity challenges and opportunities, and maximizing lifespan quality- or, as the author describes it, our “Whealthspan.”
The book authors are Christine Benz, Andrew J Scott, and Scott Fulton.
𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬 and Retirement Professionals: You can 𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐧𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫 by opening the newsletter in a browser and selecting ‘Subscribe’ in the upper left or by going to MyLifesEncore.com under Resources.
#retirement#retirementplanning#longevity#longevityplanning#nonfinancial
