Traditionally, we forgo spending money today and defer enjoyment until the future, which is called “saving.” examples include boosting super or accelerating (voluntarily increasing) your mortgage repayments. The question becomes, what valuable experiences do you miss out on in the meantime? And what could happen to your health or personal situation while you are deferring spending that money that might stop you from participating in those meaningful experiences?
We work with many clients to help determine the right balance between spending now and saving for retirement. This includes strategies for maintaining regular and constant enjoyment of meaningful experiences even when income can vary from year to year. Think of it as “retirement planning in reverse,” as well as financial independence and retiring early.
Our role as fiduciary financial advisors is to help you optimise the time you spend working and the time you spend "living." We do this by showing many clients they often need less than they think to achieve financial independence and retire early or cut-back on work.
If you would like a copy of our "Can I retire early?" checklist, please email clientservice@providencegroup.com.au or book a free 15-minute call with me via our website button to find out if you can fast-track your retirement.
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