Imagine that you’re living in a tent on an open plain.
One day you plant a tree. For the next 40 years:
- You water it.
- You protect it from harsh weather and animals.
- You never pick its fruit.
- You don’t climb it for fun.
- You don’t take a break and rest in its shade.
- You don’t even cut down some branches to build a house.
In fact, you never go anywhere or do anything else because you’re focused solely on growing that tree bigger and bigger.
Finally, one day, just after your 65th birthday, the tree stops growing.
You look up at its enormous trunk and wide spread of branches and say to yourself …
“What was that for?”
Your financial planning tree
Many of us treat our pre-retirement financial planning in a similar fashion. We become caught up in the work that goes into “growing the tree”. We never think about harvesting the apples or timber to make a better life for ourselves. As long as our tree keeps getting bigger, we keep putting in the work of growing it, even if that work doesn’t engage our interests or put our unique talents to their highest purposes.
Then retirement rolls around.
Your retirement tree
Faced with the prospect of no longer working, some soon-to-be-retirees feel lost. Their sense of purpose was so connected to working hard to make more money that they never stopped to ask themselves what that next pound was really for.
Some people delay retirement as long as they physically can to keep chasing after more money that:
- They don’t really need
and
- Will never actually spend.
Others become so concerned about running out of money that they live too conservatively and never enjoy their retirement. Others drift aimlessly through retirement, re-arranging the furniture for the 10th time.
A better sense of purpose.
There is a purpose to having money and growing your wealth, but what money can’t do is create purpose in and of itself.
Retirement is when it’s time to stop worrying, as your financial tree is ready to yield its harvest. You’ll be able to live comfortably off the money you’ve saved and the income that your investments will continue to generate. After a lifetime of working hard and following your financial plan, your return on investment will be financial security in retirement.
You can stop focusing on your return on investment and start enjoying a better Return on Life (ROL).
The earlier you’re able to make this shift into an ROL mindset, the sooner you’ll be able to live the best life possible with the money you have. Don’t wait until you’re 65 to start harvesting that tree and enjoying life. You can trim that tree a bit each year, enjoy life today, while still growing it for the future.
Enjoying life along the way will make your eventual transition to retirement even easier. Instead of struggling to replace work with leisure, you’ll be ready to pour even more of your time and energy into the activities that really matter to you.
What is my money really for?
- Dream holidays with your spouse?
- Taking classes that enrich your mind and body?
- A second house on the coast for weekend getaways?
- As much golf or tennis as you can squeeze into a day?
- The freedom to volunteer your time and professional expertise at an organization that’s making your community better?
- Finishing a major home renovation you’ve been putting off?
- Seed money to grow your own business?
Your life will take on a brilliant shine when you start to use your means in a meaningful way. At Panthera LIFE, we use interactive workshops, tools and exercises to help people like you find that meaning and put your lives at the centre of their retirement planning process.
For more information see:
The Retire with Purpose programme
Or
