A Fulfilling Retirement – What Will It Look Like?

questionmark1Q. As one of your clients, I understand that you concentrate on ‘the purpose of money’, and that money is a means to an end.

I’m curious to know, is this ‘lifestyle advising’ now more common compared to when we started working together 10 years ago?

A. In short, yes it is more common, but unfortunately not as common as we would like.

It is of course difficult to know how many of the 30,000 or so registered advisers have moved on from simply selling products, but we would estimate no more than 10%.

However, in general terms, it is being talked about more. For example, a recent article in the Guardian newspaper asked what ingredients are needed for an enjoyable later life.

It features Dr Peter Jarvis who helped renovate a railway.

The main points are:

  • Have a financial plan in place to give you the ammunition and peace of mind to lead the life you want
  • Your social network
  • Having a purpose and challenging your mind
  • Ongoing personal development
  • Having fun

Here’s an excerpt about one of the case studies, Kelley:

Kelley himself has no intention of wasting his time.  Immediately after he retired, he wrote himself a business plan for the rest of his life.

It read: “Two days earning. Two days learning. Three days just for me.” There are two addenda: “Don’t be afraid to say no,” and “Don’t travel anywhere before 10am.” “I hate the rush hour,” he explains.

I think the key is to make sure you take the time out of your schedule to ask the ‘tough questions’ with regards how your retirement will look – it will be well worth it!

Graeme Urwin

My passion is to help senior doctors and dentists organise their finances to create their own strategy to achieve their goals in life. I do this impartially as I charge fees. Outside of work the words that best describe me are: family man, squash, badminton, jogging, travel, reading, archaeology, genealogy, writing a book on Robert the Bruce. I live in the hills of Northumberland in Rothbury and believe in living the life you love.

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