Relax. Live for the moment and enjoy life.
Most of us know someone who, despite being well off, struggles to spend money on things that make them happy. Instead, the fear of running out of money controls their spending habits. On the other hand, there are those who struggle to think past the next few days. They love nothing more than making the most out of the present but struggle to put money aside for a better future.
Both ways of thinking have advantages but leaning too heavily on either may come at a cost. Sticking to goals with monk-like discipline means missing life’s pleasures. Ignoring them means there might be nothing to fall back on later in life.
It is all about balance
The world we’re living in has changed. So has retirement. More of us than ever will 100. That could be 35 years of retirement or more. To be able to do what we want during our golden years, we need to build the blocks for a strong financial position. This means we need to find a good balance where we can spend our money on life’s pleasures while working diligently towards our goals.
This is where you need a financial planner
Using a financial planner will help to get the balance right. They can help you work out what you want later in life and put together a plan to fund it. This may mean putting money away each month, which would be an automatic thing you do not need to worry about.
If goals are still being met, there should be less guilt from doing something extravagant or spontaneous.
The plan is worthless, planning is key
As you would expect, unexpected events such as divorce and the pandemic can change our plans. Therefore, a plan needs to adapt and change. We do not see ourselves as defenders of an outdated map. Instead, act as guides for our clients as they travel through an ever-shifting landscape.
With a financial planner, it is easier to find the balance required to live for the now and focus on the future. That is the balance required to get the most out of life.