Have you ever noticed, that no matter how much (or how little) you plan things, there is always enough time, to just about get everything done?
Do you spend your days in pursuit of one commodity , in the hope it will free up more of the other. Do you work to earn more money so you can have more time (some day)?
Do I need a bucket list?
There is far more to life than just having the traditional ‘bucket list’ – here is why…
Don’t just have a tick list of things to do
Take running a marathon, once that is done, do you stop running? Once you have had the holiday of a lifetime, do you stop holidaying, once you have built or developed the ideal house, do you become complacent about it? If you were to become a senior manager of where you worked, would the name badge be your goal? Look beyond the tangible things in life.
There are always reasons why you want to do things
Take running a marathon again, is it bragging rights you are after and to get a medal? To have a focus to keep you training to improve your overall fitness, or to push yourself to the max? Similarly, with travel, is visiting places just an opportunity to say ‘cross that one off your list Margaret’ or are the deeper experiences, memories, understanding and experiences to have? What would that ideal house give you, more than a big house to look at, but perhaps a haven a home, the space for your family to just be. Finally, achievement at work – is the name badge and title really all that matters, or is it that you inspire and lead continually, rather than just puff your chest out feeling important all of a sudden. Once you know the WHAT you want to do, ask yourself WHY you want to do it, and what if you didn’t do it.
The people in your life are also part of this
Your plan, your goals, your vision. That’s all great, focus is a wonderful thing, but not to the detriment of all of those around you. Training for a marathon requires a lot of compromise and balance with your family. The ideal holiday, has to be agreeable with everyone else, and then the key is not to lose sight that it is also their trip and experience as well. Just because it was on your list, does not mean that your view on what should happen is the only one which counts. The house – it’s again key to allow everyone to enjoy it, to find their own spaces, enjoyment, way of living. Overall it is a home, and one for people to feel safe and loved in, not just a pile of building materials. Pursuit of a career without recognition of everyone else leads to huge unhappiness in many families. Leaving home at 7am, returning at 6pm – really, what quality of life is that, and sometimes, it is easy to kid ourselves that we are doing it for everyone else. If you died today, guess what, your boss would replace you tomorrow! Always remember who will be by your bedside when you die.
The experience is fluid
It is great to have an idea, a vision of what it may be like, but remember, that is in your head – it is your reality, but not anyone else’s. A sub 4 hour marathon may need to become a 5 hour one, the holiday may be slightly, or even very different from what you had imagined, the house may not be a new one, but a renovations, a different location, anything could change – what if it is a red door instead of the blue one you had dreamed of? It’s just the portal to your haven – not the end of the world! What if you don’t become a director or senior manager of where you used to work, but rather found something very different elsewhere? Not the pin-striped suited meeting in a glass clad office, full of ego and materialism, but a real influencer, someone who made a difference – to others not just the owners bank balances? Go with the flow, like a river, the twists and turns often bring the most unexpected joy and happiness.
Ultimately, life, and your plan is an ongoing journey
Life is an ongoing development, change, adaption, and experience. Yes, of course it ends one day, but life as it is, is ongoing journey, something constantly changing. Take the marathon, maybe it is a shift to a healthier lifestyle which is the key, yes, the desire of a medal or running for 5 hours is the catalyst, but it is the shift which is the deeper aim. The travel may be to enjoy experiences, to enhance our understanding of the world, to create memories and to have happy times. Picking destinations is the catalyst. The house may be to create a safe haven a family hub, a place where you can all be together, and the career may well be to make a difference to others, which once we understand is not necessarily done with name badges, starts to release that attachment and ego. Life is not a list of achievements, it is a sense of feelings, of messages.
Life is who you are being along the way. So when you compile your bucket list, 101 places etc, start to look examine the reasons and feelings – that’s and is why working with a professional financial life planner is very different from just saying ‘cross that off your list Margaret’.
How could being made redundant affect my pension?
Just when you thought you had it all sorted, one of the few people to still be in a final salary pension scheme, a good salary, and making additional pension contributions, suddenly, it all goes wrong.
Redundancy sends you on a very different journey indeed.
However, being the diligent person, paying additional amounts into your pension, perhaps maximising your annual allowance of £40,000, the future looks ok, especially with the large redundancy lump sum you are going to be paid in the present tax year.
Then the tax regime comes tripping merrily in your direction : Continue reading “How could redundancy affect your pension?”
Pure goals and objective based planning is far better than the greedy pursuit of ‘more’ which has been the bedrock of financial advice for many a year. Look at it, once we have more, we want some more of that more – it is a never satisfying cycle. Continue reading “Why just goals or objective based planning is selling the client short”
The answer to that is ‘yes’ if you are the client who I was recently working with!
I’ll explain how… Continue reading “Is there a £500k hole in your pocket”